An ultrasonic tieing tool (200) for installation of a tape (240) about a bundle of elongate articles (140). The tool includes an ultrasonic horn (76) wherein the welding tip (78) is movable between a first position for welding of a tape to secure the tensioned loop about the plurality of articles and a second position wherein the welding tip is translated a distance from the first position to effect cutting of the tensioned loop from the stock of tape and to tack weld the loose cut end to the underlying tape of the loop to eliminate any protruding sharp edges. The tool additionally includes a belt drive mechanism (247) for advancing the tape to the jaw assembly (220) and for tensioning the tape following looping of the tape about the outside.