Examples of Term B Note in a sentence
Borrower shall execute and deliver to each Lender a Term A Note, dated the Closing Date, in the principal amount of such Xxxxxx’s Pro Rata Share of the Term A Loan Commitment, a Term B Note, dated the Closing Date, in the principal amount of such Lender’s Pro Rata Share of the Term B Loan Commitment, and a Revolving Note, dated the Closing Date, in the principal amount of such Xxxxxx’s Pro Rata Share of the Revolving Loan Commitment.
Interest accruing on the Term B Note and the Discretionary Advance Note shall be due and payable in arrears on the first day of each month.
Any payment received by the Lender under this Section 2.14 or under Section 2.12 may be applied to the Obligations, in such order and in such amounts as the Lender, in its discretion, may from time to time determine; provided that any prepayment under Section 2.12 which such Borrower designates as a partial prepayment of the Term A Note, the CapEx Note, the Term B Note, or the Discretionary Advance Note shall be applied to principal installments of such note in inverse order of maturity.
Any partial prepayments of the Term A Note, CapEx Note, Term B Note, or Discretionary Advance Note (other than in accordance with Section 2.7) shall be applied to principal payments due and owing in inverse order of their maturities.
The Term B Advance shall be allocated among the Borrowers in the manner set forth in Schedule 2.6. Each Borrower's obligation to pay the Term B Advance shall be evidenced by the Term B Note and shall be secured by the Collateral as provided in Article III.