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Term B Loan
Term B Loan contract clause examples

Subject to the terms and conditions set forth herein and the Credit Agreement (as amended by this Amendment), each Tranche B-3 Term Lender severally agrees to make its portion of the Tranche B-3 Term Loan to the Borrower in Dollars in a single advance on the Effective Date (as hereinafter defined) in the amount as set forth on the Register (immediately after giving effect to this Amendment (including the Tranche B-3 Term Lenders who have notified the Administrative Agent of their intention to fund their portion of the Tranche B-3 Term Loan pursuant to the B-3 Conversion (as hereinafter defined)). Amounts repaid on the Tranche B-3 Term Loan may not be reborrowed. The Tranche B-3 Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, or a combination thereof, as further provided in the Credit Agreement.

Subject to the terms and conditions set forth herein and the Credit Agreement (as amended by this Amendment), each Tranche B-4 Term Lender severally agrees to make its portion of the Tranche B-4 Term Loan to the Borrower in Dollars in a single advance on the Effective Date in the amount as set forth on the Register (immediately after giving effect to this Amendment (including the Tranche B-4 Term Lenders who have notified the Administrative Agent of their intention to fund their portion of the Tranche B-4 Term Loan pursuant to the B-4 Conversion (as hereinafter defined)). Amounts repaid on the Tranche B-4 Term Loan may not be reborrowed. The Tranche B-4 Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, or a combination thereof, as further provided in the Credit Agreement.

Pursuant to and in accordance with [Section 2.14] of the Amended Credit Agreement and subject to the satisfaction or waiver of the conditions set forth in Section 4 hereof, on the Funding Date, each Tranche B-3 Term Loan severally, and not jointly, agrees to make its respective Tranche B-3 Term Loan Commitment available to the Borrowers in Dollars in an aggregate principal amount equal to the amount set forth opposite its name on [Schedule A] hereto. Except as set forth in this Amendment and the Amended Credit Agreement, the Tranche B-3 Term Loans shall have identical terms as the Tranche B-2 Term Loans.

Subject to the terms and conditions set forth herein and the Credit Agreement (as amended by this Amendment), each Refinancing Lender severally agrees to make its portion of a term loan (the “Refinancing Tranche A Term Loan”) to the Borrower in Dollars in a single advance on the date hereof in an amount not to exceed such Lender’s commitment to the Refinancing Tranche A Term Loan set forth on [Schedule A] hereto. Amounts repaid on the Refinancing Tranche A Term Loan may not be reborrowed. The Refinancing Tranche A Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, or a combination thereof, as further provided in the Credit Agreement.

The Borrower, the Administrative Agent and each B-3 Converting Lender hereby agree that on the Effective Date the principal amount of the portion of the Tranche B-1 Term Loan set forth on the Register (immediately prior to giving effect to this Amendment) opposite such B-3 Converting Lender’s name and owing to such B-3 Converting Lender under the Credit Agreement (or such lesser amount as notified by the Administrative Agent) shall be converted (the “B-3 Conversion”) into a portion of the Tranche B-3 Term Loan in an aggregate principal amount equal to the amount set forth on the Register (immediately after giving effect to this Amendment) opposite such B-3 Converting Lender’s name, as contemplated by and to be evidenced and governed by the Credit Agreement and the related Loan Documents, all on the terms and conditions set forth in the Credit Agreement, in each case, as amended by this Amendment.

Subject to the terms and conditions set forth herein, on and after the Effective Date, unless the context otherwise clearly requires, for all purposes of the Loan Documents, # the commitment of each Tranche B-3 Term Lender to make a portion of the Tranche B-3 Term Loan (or in the case of a B-3 Converting Lender, convert its existing Tranche B-1 Term Loan to a portion of the Tranche B-3 Term Loan) shall constitute a “Term Facility”, “Term Loan Commitments” and “Commitments”, # the Tranche B-3 Term Loan shall constitute a “Term Loan” and a “Loan” and # each Tranche B-3 Term Lender shall be a “Lender” (if such Tranche B-3 Term Lender is not already a Lender prior to the effectiveness of this Amendment) and shall have all the rights and obligations of a Lender holding a Commitment with respect to the Tranche B-3 Term Loan (or, following the making and/or conversion of a Tranche B-3 Term Loan, a Tranche B-3 Term Loan). Notwithstanding the foregoing, the provisions of the Credit Agreement with respect to indemnification, reimbursement of costs and expenses, taxes (and other provisions of Article III of the Credit Agreement), increased costs and break funding payments shall continue in full force and effect with respect to, and for the benefit of, each existing Lender holding a portion of the Tranche B-1 Term Loan in respect of such Lender’s existing Tranche B-1 Term Loans immediately prior to giving effect to this Amendment.

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