term B lender

term B lender
In the context of bank loans, lenders that lend term B loans. Typically they are institutional lenders (such as hedge funds) rather than commercial banks that prefer to hold the investment for the full term of the loan. Most term B lenders buy a portion of the term loan (by assignment) after the closing date for tax reasons or because their organizational documents permit them to buy investments but not to make loans. Term B Lenders often prefer not to be prepaid with mandatory prepayments before the maturity date of the term loan and term B loan agreements may include a provision that allows them to decline such payments.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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