Term Loan C. To the extent there is any Revolver Commitment, Term Loan A Principal Debt, or Term Loan B Principal Debt outstanding, any Term Loan C Lender, at its option, may elect not to accept such partial prepayment under this SECTION 2.7 (other than SECTION 2.7(d)) (such Lender being a "DECLINING C LENDER"), in which event the provisions of the next sentence shall apply. On the prepayment date, an amount equal to that portion of the prepayment amount available to prepay Term Loan C Lenders (less any amounts that would otherwise be payable to Declining C Lenders) shall be applied ratably to prepay Term Loan C Principal Debt owed to Term Loan C Lenders other than Declining C Lenders and any amounts that would otherwise have been applied to prepay Term Loan C Principal Debt owing to Declining C Lenders shall instead be applied ratably to prepay the remaining Term Loan A Principal Debt and Term Loan B Principal Debt, and reduce the Revolver Commitment as provided in SECTIONS 2.7(b) through 2.7(f); PROVIDED FURTHER, that upon prepayment in full of Term Loan C Principal Debt owing to Term Loan C Lenders other than Declining C Lenders the remainder of any prepayment amount that is to be applied to Term Loan C Principal Debt shall be applied ratably to prepay Term Loan C Principal Debt owing to Declining C Lenders. Any Term Loan C Lender may elect not to accept its ratable share of a partial prepayment by giving written notice to the Administrative Agent not later than 11:00 a.m. Dallas, Texas time on the Business Day immediately preceding the scheduled prepayment date.
Term Loan C. Subject to Section 2.3(b), the Term Loan C accrues interest at the greater of (a) six percent (6.0%) per annum, and (b) the Prime Rate in effect from time to time, plus two percent (2.0%) per annum.
Term Loan C. Subject to the terms and conditions of this Agreement, on the Second Amendment Effective Date, the Lender shall fund the Term Loan C in the amount of the Term Loan C Commitment, the proceeds of which shall be used to repay, in part, outstanding Overadvances on such date. Upon the funding of the Term Loan C hereunder, the Term Loan C Commitment shall be permanently terminated.
Term Loan C. Subject to Section 2.3(b), the principal amount outstanding under the Term Loan C shall accrue interest at a per annum rate equal to 9.00%, which interest shall be payable monthly.”
Term Loan C. (a) Term Loan. Bank has made a loan to Borrower in the original principal amount of Six Hundred Thirty Thousand Dollars ($630,000.00) ("Term Loan C"), on which the outstanding principal balance as of the date hereof is $607,820.54. Borrower's obligation to repay Term Loan C is evidenced by a promissory note substantially in the form of Exhibit D attached hereto ("Term Note C"), all terms of which are incorporated herein by this reference. Any references in Term Note C to any prior loan agreement between Bank and Borrower shall be deemed a reference to this Agreement. Subject to the terms and conditions of this Agreement, Bank hereby confirms that Term Loan C remains in full force and effect.
Term Loan C. (i) On the Effective Date the aggregate principal amount of Term Loan C (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement is $600,000,000 and shall be deemed outstanding under this Agreement (collectively, the “Term Loan C”). The obligations of each Term C Lender hereunder shall be several and not joint. The Term Loan C shall, upon the request of any Lender pursuant to Section 1.10, be evidenced by a Note, and, upon such request as provided in Section 1.10, Borrower shall execute and deliver each Note to the applicable Term C Lender. Each Note shall represent the obligation of Borrower to pay the amount of the applicable Term C Lender’s Term Loan C, together with interest thereon as prescribed in Section 1.5.
Term Loan C. On the last Banking Day of each March, June, September and December, beginning March 31, 1999, the Borrowers will jointly and severally pay to the Administrative Agent, for the account of the Lenders as a prepayment of Term Loan C, the lesser of (a) $750,000, as adjusted after the date hereof in accordance with this Section 4, or (b) the amount of Term Loan C then outstanding, in each case together with accrued interest on such prepaid amount, and a final payment of the balance of Term Loan C on the Final Term Loan C Maturity Date.
Term Loan C. Subject to and in reliance upon the terms, conditions, representations, and warranties in the Loan Papers, each Term Loan C Lender severally and not jointly agrees to lend to Borrower in a single Borrowing on the Closing Date an amount up to such Lender's Committed Sum under Term Loan C; PROVIDED THAT (a) the aggregate Borrowings under Term Loan C from all Term Loan C Lenders shall never exceed the Term Loan C Commitment, and (b) Term Loan C Borrowings may not be repaid and reborrowed.
Term Loan C. Subject to and upon the terms and conditions of this Agreement, Silicon shall make a term loan to Borrower in the amount of $5,000,000.00 ("Term Loan C") to be used to satisfy amounts owing by Borrower in connection with the Ray Forgit Debt and the Deferred Compensation Arrangements relaxxx xx Xxxical Systems Management, Inc. Beginning on February 28, 2005 and continuing on last day of each month thereafter, Borrower shall pay to Silicon (a) monthly installments of principal each in the amount of $138,888,88, plus (b) interest on the outstanding amount of Term Loan C at the rate applicable to Term Loan C as set forth on the Schedule. The entire outstanding principal balance, plus all accrued and unpaid interest and other charges under Term Loan C shall be due and payable upon the Maturity Date applicable to Term Loan C."
Term Loan C. Under the Prior Agreement, U.S. Bank has advanced to Borrower the principal sum of Six Million Dollars ($6,000,000) which Borrower has paid down to One Million Seventy One Thousand Four Hundred Twenty Eight and 67/100 Dollars ($1,071,428.67) (the amount advanced and unpaid under the Prior Agreement, the “Term Loan C Advance” and also referred to as the “Term Loan C”). The Term Loan C shall be evidenced by and repayable in accordance with the terms of Borrower’s promissory note (“Term Note C”). Amounts representing the Term Loan C Advance that have been repaid by Borrower may not be reborrowed.
