Term Loan Portion definition

Term Loan Portion means, with respect to the Net Sale Proceeds of any Asset Sale or the Net Insurance Proceeds of any Recovery Event, (a) if such Asset Sale or Recovery Event involved only Term Priority Collateral, 100%, (b) if such Asset Sale or Recovery Event involved only ABL Priority Collateral, (x) prior to the Discharge of ABL Obligations, the amount of such Net Sale Proceeds or Net Insurance Proceeds available to the Borrower and its Restricted Subsidiaries after payment in full of all principal and interest, and if required cash collateralization of letters of credit, in each case, outstanding at such time under the ABL Credit Agreement and (y) after the Discharge of ABL Obligations, 100% and (c) if such Asset Sale or Recovery Event involved both Term Priority Collateral and ABL Priority Collateral, a portion calculated in accordance with Section 4.01(c) of the Intercreditor Agreement.
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Term Loan Portion the portion of the Principal Balance consisting of the unpaid principal balance of the Term Loan outstanding from time to time.
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Term Loan Portion means: (a) with respect to a Bank, the outstanding principal balance of the Term Loan owed to such Bank from time to time and (b) with respect to the various Types, that portion of the outstanding principal balance of the Term Loan of that Type.
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Examples of Term Loan Portion in a sentence

  • Except during a Default Rate Period, the Term Loan Portion shall bear interest at the Term Loan Rate.

  • Each Bank may transfer and carry its Term Loan Portion at, to or for the account of any office, Subsidiary or Affiliate of such Bank.

  • The Term Loan Portion of the Loan shall be fully disbursed on the Closing Date and cannot be re-borrowed.

  • The Term Loan Portion of the Loan shall be used to repay Borrower’s existing loan with Bank of America, N.A. in the original principal amount of $76,200,000.00 (“BOA Loan”).

  • In the event the Term Loan amount is less than Twelve Million Dollars ($12,000,000) or in the event of an assignment of a Term Loan Portion, Borrower shall, upon surrender, as applicable, of all Term Notes or the Term Note evidencing the assigned interest, issue a new Term Note or Term Notes to reflect, as applicable, the actual amount of the Term Loan or the interests of the assigning Bank and the Person to which interests are to be assigned.

  • All prepayments of the Term Loan shall first be applied to the Prime Rate Term Loan Portion and then to the Libor Term Loan Portion.

  • Lender shall not be required to disburse the Term Loan Portion of the Loan hereunder until the Pre-Closing Requirements, conditions and other requirements set forth below have been completed and fulfilled to the satisfaction of Lender, at Borrower’s sole cost and expense.

  • Lender shall not be obligated hereunder to re-advance to Borrower any portion of the Term Loan Portion of the Loan prepaid by Borrower, whether prepaid voluntarily or involuntarily.

  • Borrower at any time may redesignate the amounts of, and Convert and Continue the Real Estate Term Loan Portions, but only to be effective from and after the end of the Interest Period therefor if such Real Estate Term Loan Portion is a LIBOR Loan, and subject to the terms and provisions of this Agreement, including Sections 5.7, 5.8 and 5.9 hereof.

  • Borrower shall use the Loan proceeds solely (i) to repay the BOA Loan from the Term Loan Portion of the Loan and (ii) to cover costs of Tenant Improvements from the Revolving Loan Portion of the Loan.

Related to Term Loan Portion

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Term Loan A Note means a promissory note made by the Borrower in favor of a Term Loan A Lender evidencing the portion of the Term Loan A made by such Term Loan A Lender, substantially in the form of Exhibit C-1.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Term A Loan Commitment means, as to each Lender, its obligation to make its portion of the Term A Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Loan Commitments of all of the Lenders as in effect on the Closing Date is $675,000,000.

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

  • Term Loan Note means a promissory note made by the Borrower in favor of a Term Loan Lender evidencing the portion of the Term Loans made by such Term Loan Lender, substantially in the form attached as Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Tranche B Term Loan Lender means a Lender with a Tranche B Term Loan Commitment or an outstanding Tranche B Term Loan.

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Tranche A Term Loan Commitment means the commitment of a Lender to make a Tranche A Term Loan to Company pursuant to subsection 2.1A(i), and "Tranche A Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Tranche C Term Loan Commitment means, with respect to each Tranche C Term Loan Lender, the commitment of such Lender to make Tranche C Term Loans under the Tranche C Term Loan Incremental Facility Agreement.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).