Examples of Tranche B Term Borrowings in a sentence
In the event of any mandatory prepayment of Term Borrowings made pursuant to Section 2.12(c) or (d) at a time when Term Borrowings of both Classes remain outstanding, the Borrower shall select Term Borrowings to be prepaid so that the aggregate amount of such prepayment is allocated between the Tranche A Term Borrowings and Tranche B Term Borrowings pro rata based on the aggregate principal amount of outstanding Borrowings of each such Class.
Any optional prepayment of Term Borrowings shall be allocated as directed by the Parent Borrower to the Tranche A Term Borrowings, Tranche B Term Borrowings and/or Tranche C Term Borrowings.
Subject to Section 2.11(c), the Borrower shall repay Tranche B Term Borrowings on March 31, June 30, September 30 and December 31 of each year, commencing with March 31, 2019 and ending with the last such day to occur prior to the Tranche B Term Loan Maturity Date, in an aggregate principal amount for each such date equal to 0.25% of the aggregate principal amount of the Tranche B Term Loans made on the Closing Date.
If the initial aggregate amount of the Lenders' Tranche A Commitments or Tranche B Commitments exceeds the aggregate principal amount of Tranche A Term Loans or Tranche B Term Loans, respectively, that are made on the Effective Date, then the scheduled repayments of Tranche A Term Borrowings or Tranche B Term Borrowings, as the case may be, to be made pursuant to this Section shall be reduced ratably by an aggregate amount equal to such excess.
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In the event of any optional or mandatory prepayment of Term Borrowings made at a time when Term Borrowings of both Classes remain outstanding, the Company shall select Term Borrowings to be prepaid so that the aggregate amount of such prepayment is allocated between the Tranche A Term Borrowings and Tranche B Term Borrowings pro rata based on the aggregate principal amount of outstanding Borrowings of each such Class.
Repayments of Tranche A Term Borrowings and Tranche B Term Borrowings shall be accompanied by accrued interest on the amount repaid.
Each mandatory prepayment allocated to the Tranche A Term Borrowings, the Tranche B Term Borrowings or the Tranche C Term Borrowings shall, subject to Section 2.11(c), be applied pro rata to the remaining installments thereof.
Each other mandatory prepayment allocated to the Tranche A Term Borrowings or the Tranche B Term Borrowings shall, subject to Section 2.11(d), be applied pro rata to the remaining installments thereof.
For the avoidance of doubt, the Borrower may make optional prepayments of Tranche A Term Borrowings without making a pro rata prepayment of Tranche B Term Borrowings and may make optional prepayments of Tranche B Term Borrowings without making a pro rata prepayment of Tranche A Term Borrowings.