Examples of Tranche C Term Loan Commitment in a sentence
Each Lender severally agrees to make a term loan to Borrower on the Tranche C Closing Date in an original principal amount equal to such Lender’s Tranche C Term Loan Commitment (each, a “ Tranche C Term Loan” and, collectively, the “Tranche C Term Loans”).
On the Third Amendment Closing Date (after giving effect to the incurrence of Tranche C Term Loans on such date), the Tranche C Term Loan Commitment of each Lender shall terminate.
The gross proceeds required to be funded by each New Term Loan Lender (x) with respect to its Tranche A Term Loan Commitment, shall be equal to 99.50% of the principal amount of such Tranche A Term Loan and (y) with respect to its Tranche C Term Loan Commitment, shall be equal to 99.50% of the principal amount of such Tranche C Term Loan.
All payments of interest and principal on the Tranche C Term Loans, each payment of the Tranche C Term Loan Commitment Fee and each reduction of the Tranche C Term Loan Commitment shall be apportioned among the Tranche C Lenders pro rata in the proportion which their respective Tranche C Commitments bear to all of the Tranche C Term Loan Commitments.
No Lender shall have an obligation to make a Tranche C Term Loan in excess of such Lender’s Tranche C Term Loan Commitment.