Acquisition Term Loans. Each Lender having an Acquisition Term Loan Commitment severally agrees, subject to the provisions set forth in subsection 7.7(vi), to lend to Company from time to time during the period from and after the earlier to occur of (i) Company's delivery of an Officers' Certificate to Administrative Agent certifying that Company has utilized or will utilize, together with the proceeds of any requested borrowing of Acquisition Term Loans, all of the Retained IPO Proceeds for Permitted Acquisitions or (ii) Company's delivery of an Officers' Certificate pursuant to subsection 6.1(xix) on the nine-month anniversary of the First Amendment Effective Date and the occurrence of the related prepayment of Loans and/or permanent reduction of Revolving Loan Commitments and/or Acquisition Term Loan Commitments required pursuant to subsection 2.4B(iii)(b), to but excluding the Acquisition Term Loan Commitment Termination Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Acquisition Term Loan Commitments to be used for the purposes identified in subsection 2.5A. The amount of each Lender's Acquisition Term Loan Commitment as of the First Amendment Effective Date is set forth opposite its name on Schedule 2.1 annexed hereto (as amended on the First Amendment Effective Date) and the aggregate amount of the Acquisition Term Loan Commitments as of the First Amendment Effective Date is $50,000,000; provided that the Acquisition Term Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Acquisition Term Loan Commitments pursuant to subsection 10.1B; and provided, further that the amount of the Acquisition Term Loan Commitment of any Lender shall be reduced from time to time by the amount of any Acquisition Term Loan made by such Lender and shall be further reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Lender's Acquisition Term Loan Commitment shall expire on the Acquisition Term Loan Commitment Termination Date and all outstanding Acquisition Term Loans on such date shall be repaid in accordance with subsection 2.4A. Amounts borrowed under this subsection 2.1A(i) and subsequently repaid or prepaid may not be reborrowed."
Appears in 1 contract
Samples: Credit Agreement (Pantry Inc)
Acquisition Term Loans. Each Lender having an Acquisition Term Loan Commitment Lender severally agrees, subject to the provisions set forth in subsection 7.7(vi), agrees to lend to Company from time to time during the period from and after the earlier to occur of (i) Company's delivery of an Officers' Certificate to Administrative Agent certifying that Company has utilized or will utilize, together with the proceeds of any requested borrowing of Acquisition Term Loans, all of the Retained IPO Proceeds for Permitted Acquisitions or (ii) Company's delivery of an Officers' Certificate pursuant to subsection 6.1(xix) on the nine-month anniversary of the First Amendment Effective Date and the occurrence of the related prepayment of Loans and/or permanent reduction of Revolving Loan Commitments and/or Acquisition Term Loan Commitments required pursuant to subsection 2.4B(iii)(b), to but excluding the Acquisition Term Loan Commitment Termination Funding Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Acquisition Term Loan Commitments to be used for the purposes identified in subsection 2.5A. 2.5D. The amount of each Acquisition Term Loan Lender's Acquisition Term Loan Commitment as of the First Amendment Effective Date is set forth opposite its name on Schedule SCHEDULE 2.1 annexed hereto (as amended on the First Amendment Effective Date) and the aggregate amount of the Acquisition Term Loan Commitments as of the First Amendment Effective Date is $50,000,00085,000,000; provided PROVIDED that the Acquisition Term Loan Commitments of the Acquisition Term Loan Lenders shall be adjusted to give effect to any assignments of the Acquisition Term Loan Commitments pursuant to subsection 10.1B; and provided, further that the amount of the 11.1B. Each Acquisition Term Loan Commitment of any Lender shall be reduced from time to time by the amount of any Acquisition Term Loan made by such Lender and shall be further reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Lender's Acquisition Term Loan Commitment shall expire immediately and without further action on September 29, 2000, if the Acquisition Term Loans are not made on or before that date (or such later date as shall be consented to by the Acquisition Term Loan Commitment Termination Date and all outstanding Lenders). Company may make only one borrowing under the Acquisition Term Loans on such date shall be repaid in accordance with subsection 2.4A. Loan Commitments. Amounts borrowed under this subsection 2.1A(i2.1A(iii) and subsequently repaid or prepaid may not be reborrowed. Acquisition Term Loans shall be available only in Dollars."
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Acquisition Term Loans. Each Lender having an Acquisition Term Loan Commitment severally agrees, subject to ---------------------- the provisions set forth in subsection 7.7(vi), to lend to Company from time to time during the period from and after the earlier to occur of (i) Company's delivery of an Officers' Certificate to Administrative Agent certifying that Company has utilized or will utilize, together with the proceeds of any requested borrowing of Acquisition Term Loans, all of the Retained IPO Proceeds for Permitted Acquisitions or (ii) Company's delivery of an Officers' Certificate pursuant to subsection 6.1(xix) on the nine-month anniversary of the First Amendment Effective Closing Date and the occurrence of the related prepayment of Loans and/or permanent reduction of Revolving Loan Commitments and/or Acquisition Term Loan Commitments required pursuant to subsection 2.4B(iii)(b), to but excluding the Acquisition Term Loan Commitment Termination Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Acquisition Term Loan Commitments to be used for the purposes identified in subsection 2.5A. The original amount of each Lender's Acquisition Term Loan Commitment as of the First Amendment Effective Date is set forth opposite its name on Schedule 2.1 annexed hereto (as amended on the First Amendment Effective Date) and the aggregate ------------ amount of the Acquisition Term Loan Commitments as of the First Amendment Effective Date is $50,000,00030,000,000; provided -------- that the Acquisition Term Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Acquisition Term Loan Commitments pursuant to subsection 10.1B; and provided, further that the amount of the -------- ------- Acquisition Term Loan Commitment of any Lender shall be reduced from time to time by the amount of any Acquisition Term Loan made by such Lender and shall be further reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Lender's Acquisition Term Loan Commitment shall expire on the Acquisition Term Loan Commitment Termination Date and all outstanding Acquisition Term Loans on such date shall be repaid in accordance with subsection 2.4A. 2.4A; provided that -------- each Lender's Acquisition Term Loan Commitment shall expire immediately and without further action on November 14, 1997 if the Closing Date shall not have occurred on or before that date. Amounts borrowed under this subsection 2.1A(i) and subsequently repaid or prepaid may not be reborrowed."
Appears in 1 contract
Samples: Credit Agreement (Sandhills Inc)
Acquisition Term Loans. Each Lender having an Acquisition Term Loan Commitment severally agrees, subject to the provisions set forth in subsection 7.7(vi), to lend to Company from time to time during the period from and after the earlier to occur of (i) Company's delivery of an Officers' Certificate to Administrative Agent certifying that Company has utilized or will utilize, together with the proceeds of any requested borrowing of Acquisition Term Loans, all of the Retained IPO Proceeds for Permitted Acquisitions or (ii) Company's delivery of an Officers' Certificate pursuant to subsection 6.1(xix) on the nine-month anniversary of the First Amendment Effective Date and the occurrence of the related prepayment of Loans and/or permanent reduction of Revolving Loan Commitments and/or Acquisition Term Loan Commitments required pursuant to subsection 2.4B(iii)(b), to but excluding the Acquisition Term Loan Commitment Termination Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Acquisition Term Loan Commitments to be used for the purposes identified in subsection 2.5A. The amount of each Lender's Acquisition Term Loan Commitment as of the First Amendment Effective Date is set forth opposite its name on Schedule 2.1 annexed hereto (as amended on the First Amendment Effective Date) and the aggregate amount of the Acquisition Term Loan Commitments as of the First Amendment Effective Date is $50,000,000; provided that the Acquisition Term Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Acquisition Term Loan Commitments pursuant to subsection 10.1B; and provided, further that the amount of the Acquisition Term Loan Commitment of any Lender shall be reduced from time to time by the amount of any Acquisition Term Loan made by such Lender and shall be further reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Lender's Acquisition Term Loan Commitment shall expire on the Acquisition Term Loan Commitment Termination Date and all outstanding Acquisition Term Loans on such date shall be repaid in accordance with subsection 2.4A. Amounts borrowed under this subsection 2.1A(i) and subsequently repaid or prepaid may not be reborrowed."
Appears in 1 contract
Samples: Credit Agreement (Pantry Inc)
Acquisition Term Loans. Each Subject to the provisions set forth in ---------------------- subsection 7.7(vi), each Lender having an Acquisition Term Loan Commitment severally agrees, subject to the provisions set forth in subsection 7.7(vi), agrees to lend to Company from time to time (x) during the period from and after the earlier to occur of (i) Company's delivery of an Officers' Certificate to Administrative Agent certifying that Company has utilized or will utilize, together with the proceeds of any requested borrowing of Acquisition Term Loans, all of the Retained IPO Proceeds for Permitted Acquisitions or (ii) Company's delivery of an Officers' Certificate pursuant to subsection 6.1(xix) on the nine-month anniversary of the First Second Amendment Effective Date and to but excluding the occurrence of the related prepayment of Loans and/or permanent reduction of Revolving Loan Commitments and/or Acquisition Final Tranche C Term Loan Commitments required pursuant to subsection 2.4B(iii)(b), Funding Date and (y) during the period from and after the Tranche C Term Loan Proceeds Certification Date to but excluding the Acquisition Term Loan Commitment Termination Date Date, an amount not exceeding its Pro Rata Share of the aggregate amount of the Acquisition Term Loan Commitments to be used for the purposes identified in subsection 2.5A. The amount of each Lender's Acquisition Term Loan Commitment as of the First Second Amendment Effective Date is set forth opposite its name on Schedule 2.1 annexed hereto (as amended on the First Second Amendment Effective ------------ Date) and the aggregate amount of the Acquisition Term Loan Commitments as of the First Second Amendment Effective Date is $38,000,000 and, in the event that Company voluntarily prepays all of the Acquisition Term Loans outstanding immediately prior to the Final Tranche C Term Loan Funding Date from the Retained Tranche C Term Loan Proceeds pursuant to subsection 2.4B(i), the amount of each Lender's Acquisition Term Loan Commitment as of the Final Tranche C Term Loan Funding Date shall be set forth opposite its name on a revised Schedule 2.1 to be delivered by Administrative Agent to ------------ Company and Lenders, and the aggregate amount of the Acquisition Term Loan Commitments as of the Final Tranche C Term Loan Funding Date shall be $50,000,000; provided that the Acquisition Term Loan Commitments of Lenders -------- shall be adjusted to give effect to any assignments of the Acquisition Term Loan Commitments pursuant to subsection 10.1B; and provided, further that -------- ------- the amount of the Acquisition Term Loan Commitment of any Lender shall be reduced from time to time by the amount of any Acquisition Term Loan made by such Lender and shall be further reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Lender's Acquisition Term Loan Commitment shall expire on the Acquisition Term Loan Commitment Termination Date and all outstanding Acquisition Term Loans on such date shall be repaid in accordance with subsection 2.4A. Amounts Except as otherwise provided in this subsection 2.1A(i) with respect to the reinstatement of Acquisition Term Loan Commitments in an aggregate amount of $50,000,000 upon the prepayment of outstanding Acquisition Term Loans from the Retained Tranche C Term Loan Proceeds, amounts borrowed under this subsection 2.1A(i) and subsequently repaid or prepaid may not be reborrowed."
Appears in 1 contract
Samples: Credit Agreement (Pantry Inc)