Acquisition Term Loan. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make a single cash advance (the “Acquisition Term Loan”) to Parent in an original principal amount of up to Six Million Dollars ($6,000,000) and no less than Three Million Dollars ($3,000,000). The proceeds of the Acquisition Term Loan shall be used to finance the acquisition of Target.
Acquisition Term Loan. Beginning on December 31, 2014, and continuing on the last Business Day of each March, June, September, and December thereafter, the Borrower shall make principal payments to the Acquisition Term Lenders each in the amount of $1,750,000.00 (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), unless accelerated sooner pursuant to Section 8.02; provided, however, that (i) the final principal repayment installment of the Acquisition Term Loans shall be repaid on the Maturity Date for the Acquisition Term Facility and in any event shall be in an amount equal to the aggregate principal amount of all Acquisition Term Loans outstanding on such date and (ii) (A) if any principal repayment installment to be made by the Borrower (other than principal repayment installments on Eurodollar Rate Loans) shall come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be and (B) if any principal repayment installment to be made by the Borrower on a Eurodollar Rate Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such principal repayment installment into another calendar month, in which event such principal repayment installment shall be due on the immediately preceding Business Day.(b)
Acquisition Term Loan. Subject to the terms and conditions of this Agreement, the Bank shall make a term loan (the “Acquisition Term Loan”) to the Borrower in a principal amount equal to One Million and Five Hundred Thousand and 00/100 Dollars ($1,500,000), the proceeds of which shall be used to fund the acquisition of the Purchased Stock.
Acquisition Term Loan. Lender agrees to consolidate and reset the Acquisition Term Loan as of the Closing Date such that the principal amount of Three Million Two Hundred Forty Three Thousand Nine Hundred Dollars ($3,243,900) shall be repaid in successive monthly installments in accordance with the terms of the Amended, Restated and Consolidated Acquisition Term Note ("Acquisition Note"). Each monthly installment shall be due and payable on the first day of each month, commencing on July 1, 2000, followed by a final installment which shall be due and payable on the earlier to occur of November 1, 2005, the end of the Original Term or Renewal Term (as applicable), the termination of this Agreement or acceleration of the Obligation hereunder. The Acquisition Term Loan shall be secured by all of the Collateral.
Acquisition Term Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Acquisition Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Restatement Date in an amount equal to its Pro Rata Share of $230,000,000 (the “Acquisition Term Loan”). Borrower shall repay the Acquisition Term Loan through periodic payments on the dates and in the amounts indicated below (“Acquisition Term Loan Scheduled Installments”). Date Scheduled Installment June 30, 2009 $ 4,312,500 September 30, 2009 $ 4,312,500 December 31, 2009 $ 4,312,500 March 31, 2010 $ 4,312,500 June 30, 2010 $ 5,750,000 September 30, 2010 $ 5,750,000 December 31, 2010 $ 5,750,000 March 31, 2011 $ 5,750,000 June 30, 2011 $ 5,750,000 September 30, 2011 $ 5,750,000 December 31, 2011 $ 5,750,000 March 31, 2012 $ 5,750,000 June 30, 2012 $ 7,187,500 September 30, 2012 $ 7,187,500 December 31, 2012 $ 7,187,500 March 31, 2013 $ 7,187,500 June 30, 2013 $ 7,187,500 September 30, 2013 $ 7,187,500 December 31, 2013 $ 7,187,500 March 28, 2014 $ 116,437,500 The final installment shall in all events equal the entire remaining principal balance of the Acquisition Term Loan. Notwithstanding the foregoing, the outstanding principal balance of the Acquisition Term Loan shall be due and payable in full on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a)(ii) and repaid may not be reborrowed. The Acquisition Term Loan shall be evidenced by promissory notes substantially in the form of Exhibit 1.1(a)(ii) (as amended, modified, extended, substituted or replaced from time to time, each a “Acquisition Term Note” and, collectively, the “Acquisition Term Notes”), and, except as provided in Section 1.7, Borrower shall execute and deliver each Acquisition Term Note to the applicable Acquisition Term Lender. Each Acquisition Term Note shall represent the obligation of Borrower to pay the amount of the applicable Acquisition Term Lender’s Acquisition Term Loan Commitment, together with interest thereon.
Acquisition Term Loan proceeds: i) are to be used exclusively to pay for, or reimburse a Company for, the acquisition by a Company of distributors of granite memorials, operators of granite quarries, and manufacturers, wholesalers and/or retailers of granite products; and ii) will be disbursed concurrent with, or immediately after, such acquisition, provided, however, that ROA may combine several acquisitions into one Acquisition Term Loan.
Acquisition Term Loan. Each of the Borrowers jointly and severally promises to pay to the Administrative Agent, for the pro-rata accounts of the Lenders, the principal amount of the Acquisition Term Loan, in equal consecutive quarterly installments of $1,964,286.00 each (except that the payment due on November 1, 2004 shall be in the amount of $1,309,524.00), based upon a seven (7) year amortization schedule, such quarterly installments to be due and payable on August 1st, November 1st, February 1st and May 1st of each calendar year, commencing on November 1, 2004. Each of the Borrowers further agrees to pay to the Administrative Agent, for the pro-rata accounts of the Lenders, interest on the unpaid principal amount of the Acquisition Term Loan from time to time outstanding from the date hereof until payment in full thereof at the rates per annum and on the dates set forth in Section 4.3 above. On the Maturity Date for the Acquisition Term Loan (or such earlier date on which the Acquisition Term Loan becomes due and payable pursuant to Article 12 below), the entire outstanding balance of the Acquisition Term Loan (including without limitation, all unpaid principal, all accrued but unpaid interest and all unpaid fees, charges, costs and expenses) shall be immediately due and payable in full. The Borrower acknowledges that the seven (7) year schedule provided herein for the periodic payment of unpaid principal of the Acquisition Term Loan is longer than the time which will elapse until the Maturity Date for the Acquisition Term Loan, and that a substantial balance or "balloon" payment of principal may be required on the Maturity Date for the Acquisition Term Loan.
Acquisition Term Loan. Subject to, and in accordance with, the terms and conditions of this Agreement, the Bank agrees to loan the Borrower the principal amount of Three Hundred Fifty Thousand Dollars ($350,000.00) (the "Acquisition Term Loan").
Acquisition Term Loan. (a) Bank will make the Acquisition Term Loan to Borrower in a single advance on the earlier of (i) Borrower's completion of its filing with the U.S. Securities and Exchange Commission on Form S-1 or (ii) July 31, 2001.
Acquisition Term Loan. 2 1.3 Borrowing Procedure Under the Credit Facility . . . . . . . . . . . . . . . . . . . . . . . 2 1.4
