Term Loan Refinancing. The proceeds of the Term Loan funded on the Sixth Amendment Effective Date shall be used by the Borrower to, among other things, refinance in their entirety the Term Loans, Original Incremental Term Loans and Additional Incremental Term Loans, in each case outstanding under, and as defined under, this Agreement on the Sixth Amendment Effective Date, immediately prior to effectiveness of the Sixth Amendment.
Term Loan Refinancing. The Borrower hereby irrevocably directs the Administrative Agent (a) to apply the proceeds of the Tranche C Term Loans being funded (and not being converted) immediately upon the receipt thereof to prepay the outstanding principal of each of the Original Term Loans that are not Converted Term Loans and (b) with respect to all Converted Term Loans, to take such action as is deemed necessary or appropriate to effectuate the conversion of such Original Term Loans into Tranche C Term Loans in the manner described in paragraph (b) of subsection 2.5 of the Credit Agreement as amended hereby.
Term Loan Refinancing. (a) The Borrower confirms and agrees that (i) it has requested Term Loans on the Sixth Amendment Effective Date in an aggregate principal amount of $70,000,000 (the “New Term Loans”), which New Term Loans, after giving effect to the other amendments described in Section 2 above, shall be on the terms set forth in the Amended Credit Agreement, (ii) one Business Day prior to the Sixth Amendment Effective Date, the Borrower will deliver to the Administrative Agent a Notice of Borrowing with respect to the borrowing of the New Term Loans and (iii) on the Sixth Amendment Effective Date, the Borrower will borrow the full amount of the New Term Loans from those lenders having a commitment to fund a New Term Loan (the “New Term Lenders”).
Term Loan Refinancing. The Term Loan Refinancing shall have been consummated or arrangements reasonably satisfactory to the Administrative Agent shall have been made for the consummation thereof. In addition, the Administrative Agent shall have received by intrabank transfer of immediately available funds all accrued interest payable pursuant to subsection 4.1(d) of the Credit Agreement, as amended hereby, and any amounts payable pursuant to subsection 4.12(c) of the Credit Agreement as a result of the Term Loan Refinancing.
Term Loan Refinancing. The Term Loan Refinancing shall have been consummated or arrangements reasonably satisfactory to the Administrative Agent shall have been made for the consummation thereof.
Term Loan Refinancing. (a) On the Third Amendment Effective Date, all then outstanding Initial Term B Loans and Incremental Term B-1 Loans shall be refinanced in full as follows:
Term Loan Refinancing. Effective as of the Conversion Date, each Citation Debt Holder that is entering into a New Term Loan as identified on Schedule 2 shall refinance its Term Loan indebtedness identified on Schedule 2 (each, a “Refinancing Debt Holder”) under a loan agreement and related guaranty and security documents dated as of the Conversion Date and entered into among Grede II, Grede LLC, and Grede Wisconsin Subsidiaries LLC, as borrowers; Parent and certain subsidiaries of Grede II, as guarantors; each such Refinancing Debt Holder; and GECC, as administrative agent. Effective as of the Conversion Date, GECC, as administrative agent under the new term loan agreement, will enter into that certain Intercreditor Agreement dated as of the Conversion Date with the agent under Grede LLC and Grede II’s new revolving credit facility. Each Refinancing Debt Holder authorizes and directs the Agent Bank upon receipt of written notification from Citation that the Transactions have been consummated, to treat the Term Obligations, the Secured Obligations and all other amounts owing to such Refinancing Debt Holder under the Loan Documents as paid in full.
Term Loan Refinancing. The Borrower hereby irrevocably directs the Administrative Agent (i)(A) to apply the proceeds of the Replacement Term Loans being funded (and not being converted) immediately upon the receipt thereof to prepay the outstanding principal of each of the Original Term Loans and the Incremental Term Loans and (B) with respect to all Converted Term Loans, to take such action as is deemed necessary or appropriate to effectuate the conversion of such Original Term Loans or Incremental Term Loans into Replacement Term Loans in the manner described in paragraph (b) of Section 2.1 of the Credit Agreement as amended hereby.
Term Loan Refinancing. (a) The Borrower confirms and agrees that (i) it has requested Replacement Term Loans on the Restatement Effective Date in an aggregate principal amount (including any Converted Term Loans) not in excess of $1,500,000,000 from the Lenders and which Term Loans, after giving effect to the other amendments described in Section 2 below, shall be on the terms set forth in the Amended and Restated Credit Agreement, (ii) one Business Day prior to the Restatement Effective Date, the Borrower will deliver to the New Administrative Agent a Borrowing Request with respect to the borrowing of the Additional Term Loan and (iii) on the Restatement Effective Date, the Borrower will borrow (and hereby requests funding of) the full amount of the Additional Term Loans from the Initial Term Lender.
Term Loan Refinancing. The Term Loans shall have been paid in full.
