Example ContractsClausesTerm B Loan
Term B Loan
Term B Loan contract clause examples

(b)Term Loan. Subject to the terms of this Agreement, at the option of the Administrative Borrower, the Term Loan or any portion thereof shall be either a Reference Rate Loan or a LIBOR Rate Loan as follows:

Term B Loan. Subject to [Section 2.2(b)], the principal amount outstanding under each Term B Loan Advance shall accrue interest at a floating per annum rate equal to five and one half of one percent (5.50%) above the Prime Rate, which interest shall be payable monthly in accordance with [Section 2.2(d)] below.”

Term Loan B. Subject to the terms and conditions set forth herein, each Lender severally made, on the Initial Funding Date, its portion of a separate SIX MILLION DOLLAR ($6,000,000) term loan (identified as Loan 6050382-102 by NWFCS) to the Borrowers in Dollars (“Term Loan B”).

Term Loan B. On the Closing Date, the Term Loan B Lenders, severally and not jointly, agree to make an advance to the Borrower in Dollars of their Pro Rata Share of a term loan (the “Term Loan B”) in an original aggregate principal amount of TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000). The Term Loan B may consist of Base Rate Loans, Eurodollar Rate Loans, or a combination thereof, as the Borrower may request. Amounts repaid on the Term Loan B may not be reborrowed.

Term B Loan. Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the “Term B Loan”) to the Borrower in Dollars on the Closing Date in an amount not to exceed such Lender’s Term B Loan Commitment. Amounts repaid on the Term B Loan may not be reborrowed. The Term B Loan may consist of Base Rate Loans or Eurocurrency Rate Loans, or a combination thereof, as further provided herein, provided, however, any Borrowings made on the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a funding indemnity letter not less than three (3) Business Days prior to the date of such Borrowing.

Term B Loan. The Borrower shall repay the outstanding principal amount of the Term B Loan in quarterly installments equal to 0.25% of the aggregate principal amount of such Term B Loans outstanding on the Closing Date, commencing on the last day of the first full fiscal quarter ending after the Closing Date and on each December 31, March 31, June 30 and September 30 thereafter with the remaining outstanding balance due and payable on the Maturity Date of the Term B Loan (as such installments may hereafter be adjusted as a result of prepayments made pursuant to [Section 2.06] and increases with respect to any increase to the Term B Loan pursuant to [Section 2.16]), unless accelerated sooner pursuant to Section 8.02.

Term B Loan. Subject to [Section 2.2(b)], the principal amount outstanding under each Term B Loan Advance shall accrue interest at a floating per annum rate equal to the greater of # one percent (1.0%) above the Prime Rate, and # five and one-half of one percent (5.50%), which interest shall be payable monthly in accordance with [Section 2.2(d)] below.

Term Loan B Commitments . Subject to the terms and conditions hereof, and relying upon the representations and warranties herein specified, each Lender with a Term Loan B Commitment severally agrees to make a term loan (the “Term Loan B”) to the Borrower on the Closing Date in a principal amount equal to such Lender’s Term Loan B Commitment.

Term Loan B Commitment Amendment. In connection with the

Term Loan B Commitment Amendment. In connection with the initial increase of the Term Loan B Commitment, the Borrower, the Administrative Agent and each Term Loan B Lender shall execute and deliver to the Administrative Agent the Term Loan B Commitment Amendment and such other documentation as the Administrative Agent shall reasonably specify to evidence or secure the increase of the Term Loan B Commitment including evidence of authority to borrow, certifications and opinions as the Administrative Agent may reasonably require in its sole and absolute discretion. The Administrative Agent shall promptly notify each Lender as to the effectiveness of the Term Loan B Commitment Amendment. The Term Loan B Commitment Amendment, without the consent of any other Lender, shall effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent, the Term Loan B Lenders and the Borrower, to implement the terms of Term Loan B Commitment, including any amendments necessary to establish the Term Loan B Commitment, and such other technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent, the Term Loan B Lenders and the Borrower in connection with the establishment of such Term Loan B Commitment.

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