Examples of Additional Term Loans in a sentence
Except as otherwise mutually agreed among Borrowers and Lenders, (a) Borrowers may request Additional Term Loans (i) in minimum increments of $250,000, and (ii) for the purpose of funding (A) Permitted Acquisitions and other growth initiatives and (B) repayments of the Sponsor Subordinated Debt, and (b) any Additional Term Loans will have terms, amortization and fees consistent with the Initial Term Loan.
For U.S. Federal income tax purposes, the Borrowers, Additional Term B Lenders and the Administrative Agent agree to treat this Amendment as not resulting in a “significant modification” (within the meaning of Treasury Regulations Section 1.1001-3(e)) of the Loans or the Credit Agreement, and to treat the Additional Term Loans as a “qualified reopening” (within the meaning of Treasury Regulations section 1.1275-2(k)) of, and fungible with, the Initial Term Loans.
The Borrower covenants and agrees that it will use the proceeds of the 2013 Additional Term Loans to prepay, on the Eighth Amendment Effective Date, outstanding Non-Extended Term B Dollar Loans and thereafter, as permitted under Section 2.1(a)(ii)(A) of the Credit Agreement.
On the terms and subject to the satisfaction (or waiver) of the conditions set forth in Article IV hereof, each Additional Term Lender agrees to make Additional Term Loans equal to the amount notified to such Additional Term Lender by the Left Lead Arranger (but in no event greater than the amount such Person committed to make as Additional Term Loans), on the Amendment Effective Date, and each Additional Term Lender shall be a “Lender” under the Credit Agreement as of such date.
For U.S. Federal income tax purposes, the Borrowers, Second Additional Term B Lenders and the Administrative Agent agree to treat this Amendment as not resulting in a “significant modification” (within the meaning of Treasury Regulations Section 1.1001-3(e)) of the Loans or the Credit Agreement, and to treat the Second Additional Term Loans as a “qualified reopening” (within the meaning of Treasury Regulations section 1.1275-2(k)) of, and fungible with, the Initial Term Loans and the Additional Term Loans.