First Lien Term Facility and loans thereunder, the “Term Loans”), which will be deemed to have been provided to the Borrower by each First Lien Bank Lender in accordance with the Restructuring Term Sheet (in such capacity, the “Lenders”).
First Lien Term Facility means the credit facilities under the First Lien Term Facility Credit Agreement.
First Lien Term Facility means the first lien term loan facility under the First Lien Credit Agreement.
Examples of First Lien Term Facility in a sentence
Amounts under the First Lien Term Facility that are repaid or prepaid may not be reborrowed.
In addition, the Company has the option to increase the First Lien Term Facility subject to certain conditions, including the commitment of the participating lenders.
As of June 30, 2021, the rate for the 2017 First Lien Term Facility was 4%, the rate for the 2019 First Lien Term Facility was 5%, and the rate for the 2017 Second Lien Term Facility was 8.25%.
The Borrower is required to make amortization payments on each of the 2017 First Lien Term Facility and the 2019 First Lien Term Facility at a rate of 1% of the original principal amount per annum, payable on a quarterly basis, with the remaining balance to be repaid in full at maturity.
All voluntary prepayments of the First Lien Term Facility will be applied pro rata to the Term Loan (and pro rata among the Lenders) and to the remaining amortization payments under the First Lien Term Facility in such order as the Borrower may direct.
More Definitions of First Lien Term Facility
First Lien Term Facility means the facility contemplated by that certain First Lien Credit and Guarantee Agreement, dated as of the date hereof, among Borrower, Holdings, the lenders party thereto, First Lien Term Agent and the other agents named therein, as amended, restated, supplemented, modified or Refinanced (as defined in the ABL/Term Loan Intercreditor Agreement) by a Permitted Refinancing from time to time.
First Lien Term Facility and loans thereunder, the “Term Loans”), which will be deemed to have been provided to the Borrower by the First Lien Bank Lenders, in accordance with the Restructuring Term Sheet (in such capacity, collectively the “Lenders”). (B) at the Borrower’s option, a senior secured revolving credit facility in an aggregate principal amount not to exceed $200 million, to be provided by one or more of the First Lien Bank Lenders and/or one or more other financial institutions (which shall become Lenders under the Senior Facilities), a portion of which will be available through a subfacility in the form of letters of credit (the “Revolving Facility” and, together with the First Lien Term Facility, the “Senior Facilities”). 1 All capitalized terms used but not defined herein shall have the meaning assigned thereto in the Restructuring Term Sheet to which this Term Sheet is attached (the “Restructuring Term Sheet”). 2 NTD: Assumes CEOC is the operating company in the new REIT structure. In accordance with the Restructuring Term Sheet, the Borrower shall use its commercially reasonable efforts to syndicate the First Lien Term Facility (in the form of term loans and/or bonds) to the market through an Approved Agent or otherwise through a financial institution reasonably acceptable to the Requisite Consenting Creditors at or below the interest rates set forth herein (the “Syndicated First Lien Term Facility”) and, to the extent so syndicated, the net cash proceeds thereof will be used to increase the cash payments to the First Lien Bank Lenders and the First Lien Noteholders on a pro rata basis (based on the aggregate principal amount of Opco First Lien Debt otherwise contemplated to be issued to them before giving effect to any such syndication) pursuant to the terms of the Restructuring Term Sheet. Any such cash payments to the First Lien Bank Lenders will reduce on a dollar-for-dollar basis the First Lien Term Facility to be provided by the First Lien Bank Lenders. Any such cash payments to the First Lien Noteholders will reduce on a dollar-for-dollar basis the amount of First Lien Notes to be issued to the First Lien Noteholders. If the aggregate principal amount of the Syndicated First Lien Term Facility is less than the aggregate principal amount of the First Lien Term Facility to be provided by the First Lien Bank Lenders on the Closing Date (after giving effect to the dollar-for-dollar reduction described above), then the terms of the Syndicated First Lien Term Fa...
First Lien Term Facility means the seven-year first lien term loan facility in aggregate principal amount of $950,000,000 under this Agreement.
First Lien Term Facility has the meaning assigned to such term in the fifth recital hereto.
First Lien Term Facility means the first priority senior secured term loan facility made to the Borrower pursuant to the First Lien Credit Agreement in an aggregate principal amount not exceeding $185,000,000.
First Lien Term Facility in US Dollars in an aggregate principal amount of $2,500.0 million plus, at the Borrower’s election, an amount sufficient to fund any upfront fees or OID required to be funded with respect to the First Lien Term Facility, the Bridge Facility, the Notes or Securities pursuant to any offering undertaken to finance the Transactions pursuant to the flex provisions of the Fee Letter. First Lien Lenders under the First Lien Term Facility are collectively referred to as “Term Lenders” and the loans thereunder are collectively referred to as “Term Loans”.
First Lien Term Facility and together with the Revolving Facility, the “First Lien Facilities”) in an aggregate principal amount of up to $2,700.0 million; and (iii)(x) up to $1,125.0 million in aggregate principal amount of senior secured notes (the “Notes”) in a Rule 144A/Regulation S private placement and/or (y) if all or any portion of the Notes are not issued by the Borrower under this option on or prior to the Closing Date (as defined below), up to $1,125.0 million of senior secured increasing rate loans (the “Bridge Loans”), under the senior secured credit facility described in the Bridge Term Sheet (the “Bridge Facility” and together with the First Lien Facilities, the “Facilities”). The transactions described in this paragraph, together with the Acquisition, the Equity Contributions, the repayment or refinancing and assumption of certain existing indebtedness of the Company and its subsidiaries prior to, or concurrently with, or after the date of the Acquisition and the payments of fees and expenses in connection with each therewith, are collectively referred to herein as the “Transactions”. As used herein, “Investors” means the Sponsors and certain other co-investors arranged by the Sponsors. Accordingly, the parties hereto agree as follows: