Common use of Accrual of Interest and Maturity; Evidence of Indebtedness Clause in Contracts

Accrual of Interest and Maturity; Evidence of Indebtedness. (a) The Borrower hereby unconditionally promises to pay to the Agent for the account of each Lender the then unpaid principal amount of each Loan (plus all accrued and unpaid interest) of and any other outstanding Indebtedness hereunder (including the Yield Maintenance Premium and the Prepayment Premium) owing to such Lender to the Borrower on the Maturity Date and, subject to the terms of the Specified Subordination Agreement, on such other dates and in such other amounts as may be required from time to time pursuant to this Agreement. Subject to the terms and conditions hereof, each Loan shall, from time to time from and after the date of such Loan (until paid), bear interest in accordance with Section 2.6. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to the appropriate lending office of such Lender resulting from each Loan made by such lending office of such Lender from time to time, including the amounts of principal and interest payable thereon and paid to such Lender from time to time under this Agreement. (c) The Agent shall maintain the Register pursuant to Section 12.7(h), and a subaccount therein for each Lender, in which Register and subaccounts (taken together) shall be recorded (i) the amount of each Loan made hereunder, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder in respect of the Loans and (iii) both the amount of any sum received by the Agent hereunder from the Borrower in respect of the Loans and each Xxxxxx’s share thereof. (d) The entries made in the Register maintained pursuant to paragraph (c) of this Section 2.2 and Section 12.7(h) shall, absent manifest error, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded;

Appears in 2 contracts

Samples: Security Agreement (Rent the Runway, Inc.), Security Agreement (Rent the Runway, Inc.)

AutoNDA by SimpleDocs

Accrual of Interest and Maturity; Evidence of Indebtedness. (a) (i) The Borrower hereby unconditionally promises to pay to the Agent for the account of each Term Loan A Lender such Lender’s Percentage of the then unpaid aggregate principal amount of each Term Loan (plus all accrued and unpaid interest) of and any other A outstanding Indebtedness hereunder (including the Yield Maintenance Premium and the Prepayment Premium) owing to such Lender to the Borrower on the Term Loan A Maturity Date and, subject to the terms of the Specified Subordination Agreement, and on such other dates and in such other amounts as may be required from time to time pursuant to this Agreement. Subject to the terms and conditions hereof, each the unpaid principal Indebtedness outstanding under Term Loan A shall, from time to time from and after the date of such Loan Effective Date (until paid), bear interest in accordance with Section 2.6. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of at the Borrower to the appropriate lending office of such Lender resulting from each Loan made by such lending office of such Lender from time to time, including the amounts of principal and interest payable thereon and paid to such Lender from time to time under this Agreement. (c) The Agent shall maintain the Register pursuant to Section 12.7(h), and a subaccount therein for each Lender, in which Register and subaccounts (taken together) shall be recorded (i) the amount of each Loan made hereunderApplicable Interest Rate, (ii) the Borrower hereby unconditionally promises to pay to the Agent for the account of each Term Loan B Lender such Lender’s Percentage of the then unpaid aggregate principal amount of any Term Loan B outstanding on the Term Loan B Maturity Date and on such other dates and in such other amounts as may be required from time to time pursuant to this Agreement. Subject to the terms and conditions hereof, the unpaid principal or interest due and payable or to become due and payable Indebtedness outstanding under Term Loan B shall, from the Borrower to each Lender hereunder in respect of Effective Date (until paid), bear interest at the Loans Applicable Interest Rate, and (iii) both the Borrower hereby unconditionally promises to pay to the Agent for the account of each Term Loan C Lender such Lender’s Percentage of the then unpaid aggregate principal amount of any sum received by Term Loan C outstanding on the Agent hereunder Term Loan C Maturity Date and on such other dates and in such other amounts as may be required from time to time pursuant to this Agreement. Subject to the terms and conditions hereof, the unpaid principal Indebtedness outstanding under Term Loan C shall, from the Borrower in respect Effective Date (until paid), bear interest at the Applicable Interest Rate. There shall be no readvance or reborrowings of the Loans and each Xxxxxx’s share thereof. (d) The entries made in the Register maintained pursuant to paragraph (c) any principal reductions of this Section 2.2 and Section 12.7(h) shallTerm Loan A, absent manifest error, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded;Term Loan B or Term Loan C.

Appears in 2 contracts

Samples: Joinder Agreement (Inogen Inc), Agreement (Inogen Inc)

Accrual of Interest and Maturity; Evidence of Indebtedness. (a) The Borrower hereby unconditionally promises to pay to the Agent for the account of each Lender the then unpaid principal amount of each Loan (plus all accrued and unpaid interest) of and any other outstanding Indebtedness hereunder (including the Yield Maintenance Premium and the Prepayment Premium) owing to such Lender to the Borrower on the Maturity Date and, subject to the terms of the Specified Subordination Agreement, on such other dates and in such other amounts as may be required from time to time pursuant to this Agreement. Subject to the terms and conditions hereof, each Loan shall, from time to time from and after the date of such Loan (until paid), bear interest in accordance with Section 2.6. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to the appropriate lending office of such Lender resulting from each Loan made by such lending office of such Lender from time to time, including the amounts of principal and interest payable thereon and paid to such Lender from time to time under this Agreement. (c) The Agent shall maintain the Register pursuant to Section 12.7(h), and a subaccount therein for each Lender, in which Register and subaccounts (taken together) shall be recorded (i) the amount of each Loan made hereunder, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder in respect of the Loans and (iii) both the amount of any sum received by the Agent hereunder from the Borrower in respect of the Loans and each Xxxxxx’s share thereof. (d) The entries made in the Register maintained pursuant to paragraph (c) of this Section 2.2 and Section 12.7(h) shall, absent manifest error, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded;; provided, however, that the failure of any Lender or the Agent to maintain the Register or any account, as applicable, or any error therein, shall not in any manner affect the obligation of the Borrower to repay the Loans (and all other amounts owing with respect thereto) made to the Borrower by the Lenders in accordance with the terms of this Agreement. In the event of any conflict between the accounts and records maintained by any Xxxxxx and the accounts and records of the Agent in respect of such matters, the accounts and records of the Agent shall control in the absence of manifest error. (e) The Borrower agrees that, upon written request to the Agent by any Xxxxxx, the Borrower will execute and deliver, to such Xxxxxx, at the Borrower’s own expense, a Note evidencing the outstanding Loans owing to such Lender. 2.3

Appears in 2 contracts

Samples: Security Agreement (Rent the Runway, Inc.), Security Agreement (Rent the Runway, Inc.)

Accrual of Interest and Maturity; Evidence of Indebtedness. (aThe last paragraph of Section 2.3(a) is amended and restated in its entirety with the following: "Notwithstanding anything to the contrary in this Agreement, amounts due under Sections 2.3(a)(i) and 2.3(a)(ii) may, at the option of the Borrower, be made in Restricted Shares of the Borrower, provided that prior to expiration of the Demand Notice Period or Call Notice Period, as applicable, the Borrower shall have given the Agent notice of its intention to make such payment using Restricted Shares, which notice shall be irrevocable. When making any payment under Section 2.3(a)(i) using Restricted Shares, the value of each such Restricted Share shall be determined based on the Volume-Weighted Average Price for Borrower's common h stock during the Term Loan B VWAP Measurement Period. The Borrower hereby unconditionally promises to pay Restricted Shares used for payment shall be delivered to the Agent for within three (3) Business Days following the account of each Lender Term Loan B Payment Date ("Term Loan B Stock Delivery Date"). Notwithstanding the foregoing; if a demand or call is made after the First Call Date, then unpaid principal amount of each the Volume-Weighted Average Price during the Term Loan B VWAP Measurement Period must be equal to or greater than $0.50 per share (plus all accrued and unpaid interest) of and this condition does not apply to any other outstanding Indebtedness hereunder (including payments required to be made prior to the Yield Maintenance Premium First Call Date and the Prepayment Premium) owing Borrower shall be free to such Lender use Restricted Shares for those payments without regard to the Volume-Weighted Average Price). With respect to any call by the Borrower, the maximum amount that the Borrower may pay using Restricted Shares shall be limited to $2,000,000 during any ten (10) Business Day period. In the event that the Restricted Shares are not delivered on or before the Maturity Date andTerm B Stock Delivery Date, subject to the terms of the Specified Subordination Agreement, on such other dates and in such other any amounts unpaid as may be required from time to time pursuant to this Agreement. Subject to the terms and conditions hereof, each Loan shall, from time to time from and after the date of such Loan (until paid), a result thereof shall bear interest in accordance with Section 2.6. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of at the Borrower to the appropriate lending office of such Lender resulting from each Loan made by such lending office of such Lender from time to time, including the amounts of principal and interest payable thereon and paid to such Lender from time to time under this Agreement. (c) The Agent shall maintain the Register rate determined pursuant to Section 12.7(h), and a subaccount therein for each Lender, 2.6 plus two percent (2%) through the last day of the month in which Register such shares are delivered. Agent, for itself and subaccounts (taken together) shall be recorded the lender, understands that (i) the amount of each Loan made hereunderRestricted Shares may not be sold or otherwise transferred without registration under the Securities Act and applicable state securities laws unless an exemption from registration is available and (ii) that the Borrower has no obligation to ensure, and makes no guarantees, that (a) an exemption from registration is or will be available, (b) that the Restricted Shares can be resold immediately or at any point in the future, (c) that the Restricted Shares will have any other special characteristics, and (d) that the Restricted Shares will contain a Restrictive Legend; provided, however, the Restrictive Legend shall be removed if (i) such Restricted Shares are registered under the Securities Act and such registration statement is effective, (ii) such Restricted Shares are sold or transferred pursuant to Rule 144 (assuming the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder in respect transferor is not an affiliate of the Loans and Company), (iii) both such Restricted Shares are eligible for sale under Rule 144, or (iv) if such legend is not required under applicable requirements of the amount of any sum received Securities Act (including controlling judicial interpretations and pronouncements issued by the Agent hereunder from the Borrower in respect of the Loans and each Xxxxxx’s share thereof. (d) The entries made in the Register maintained pursuant to paragraph (c) of this Section 2.2 and Section 12.7(h) shall, absent manifest error, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded;Commission).

Appears in 1 contract

Samples: Credit Agreement (Quantum Fuel Systems Technologies Worldwide Inc)

AutoNDA by SimpleDocs

Accrual of Interest and Maturity; Evidence of Indebtedness. (a) (i) The Borrower Borrowers hereby unconditionally promises promise to pay to the Agent for the account of each Term Loan A Lender such Lender’s Percentage of the then unpaid aggregate principal amount of each Term Loan (plus all accrued and unpaid interest) of and any other A outstanding Indebtedness hereunder (including the Yield Maintenance Premium and the Prepayment Premium) owing to such Lender to the Borrower on the Term Loan A Maturity Date and, subject to the terms of the Specified Subordination Agreement, and on such other dates and in such other amounts as may be required from time to time pursuant to this Agreement. Subject to the terms and conditions hereof, each the unpaid principal Indebtedness outstanding under Term Loan A shall, from time to time from and after the date of such Loan Effective Date (until paid), bear interest in accordance with Section 2.6. at the Applicable Interest Rate, and (bii) Each the Borrowers hereby unconditionally promise to pay to the Agent for the account of each Term Loan B Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness such Lender’s Percentage of the Borrower to then unpaid aggregate principal amount of Term Loan B outstanding on the appropriate lending office of Term Loan B Maturity Date and on such Lender resulting from each Loan made by other dates and in such lending office of such Lender from time to time, including the other amounts of principal and interest payable thereon and paid to such Lender as may be required from time to time under pursuant to this Agreement. Subject to the terms and conditions hereof, the unpaid principal Indebtedness outstanding under Term Loan B shall, from the Effective Date (c) The Agent shall maintain the Register pursuant to Section 12.7(huntil paid), and a subaccount therein for each Lender, in which Register and subaccounts (taken together) bear interest at the Applicable Interest Rate. There shall be recorded (i) the amount of each Loan made hereunder, (ii) the amount no readvance or reborrowings of any principal reductions of Term Loan A or interest due and payable or to become due and payable from the Borrower to each Lender hereunder in respect of the Loans and (iii) both the amount of any sum received by the Agent hereunder from the Borrower in respect of the Loans and each Xxxxxx’s share thereof. (d) The entries made in the Register maintained pursuant to paragraph (c) of this Section 2.2 and Section 12.7(h) shall, absent manifest error, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded;Term Loan B.

Appears in 1 contract

Samples: And Term Loan Agreement (RetailMeNot, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.