Additional Term Loan Sample Clauses

Additional Term Loan. (a) In addition to the Term Loan, upon the satisfaction of the conditions precedent specified below, Lender shall make a term loan to Borrowers in the principal amount of $1,000,000 (“Term Loan B”). Lender will disburse Term Loan B by wire transfer in immediately available funds to such account as may be agreed upon by Borrowers and Lender. Term Loan B shall constitute part of the Obligations and shall be secured by all of the Collateral. All of the Collateral, including the assets of Apollo Drilling, shall secure all of the Obligations. Any portion of Term Loan B which is repaid may not be reborrowed. (b) Notwithstanding Item 9 of the Schedule to the Loan Agreement, Term Loan B shall bear interest at a rate per annum equal to the Prime Rate plus 3.00 (computed on the basis of the actual number of days elapsed over a year of 360 days). (c) Borrowers shall make interest payments with respect to Term Loan B on the first day of each calendar month, commencing on July 1, 2006, and Borrowers shall make a payment of all outstanding principal plus accrued interest with respect to Term Loan B on the earlier of (i) December 20, 2006, and (ii) the termination of the Loan Agreement. (d) Borrowers shall have the right to prepay Term Loan B in whole or in part from time to time without penalty. Each partial prepayment of Term Loan B shall be in a principal amount equal to $10,000 or any integral multiple thereof. (e) Borrowers shall be obligated to repay Term Loan B in full upon (i) termination of the Loan Agreement, and (ii) any acceleration of the maturity of Term Loan B or the facility for Revolving Loans contemplated by the Loan Agreement. Additionally, Borrowers shall be required to repay Term Loan B to the extent of any proceeds from any sale or other disposition of any Rig or any other Equipment of Apollo Drilling (it being understood that this clause (ii) shall not be construed to permit any Borrower to sell or otherwise dispose of any Equipment without Lender’s prior written consent), in each case within two Business Days of the receipt thereof. Additionally, if at any time for any reason, the outstanding principal balance of Term Loan B exceeds an amount equal to 65% of the orderly liquidation value of the Rigs, net of anticipated liquidation costs and expenses, including reasonable attorneys’ fees (which net orderly liquidation value shall be determined based on the most recent appraisal obtained by Lender), on which Lender has a perfected, first-priority se...

Additional Term Loan. At any time prior to November 30, 2015, Borrower may request the Bank an additional term loan (the “Additional Term Loan”) in an aggregate additional amount not to exceed Four Million Dollars and No/100 Cents ($4,000,000.00) (such request referred to herein as a “Additional Term Loan Request”). Any Additional Term Loan Request shall be in writing and shall set forth the requested amount of Four Million Dollars and No/100 Cents ($4,000,000.00). The Additional Term Loan shall be evidenced by and repayable as set forth in an additional promissory note payable to the order of the Bank executed by the Borrower concurrently with the Additional Term Loan (together with all renewals, modifications and extensions thereof, the “Additional Term Note”) substantially in the form (including, without limitation, an interest rate equal to the Note Rate defined therein) of the Term Note. The proceeds of the Additional Term Loan shall be used solely for general corporate purposes (including, but not limited to, future acquisitions and Borrower’s long-term growth). The Additional Term Loan is evidenced by and repayable with interest in accordance with the terms of this Agreement and the Additional Term Note. Borrower will make the following monthly payments under the Additional Term Note: (a) beginning on first Business Day of the month after the funding of the Additional Term Loan and continuing monthly thereafter (on the first Business Day of each month) for a period of nine (9) months, payments of all accrued and unpaid interest, and (b) beginning first Business Day of the month that is ten (10) months after the funding of the Additional Term Loan, and continuing monthly thereafter (on the first Business Day of each month) principal payments in an amount sufficient to amortize completely the Additional Term Loan over the remaining term of the Additional Term Loan plus a payment of all accrued and unpaid interest until September 1, 2019, at which time the entire remaining outstanding balance of principal and all accrued but unpaid interest will be paid in full. Borrower’s obligations under the Additional Term Loan will be secured as provided in Section 6. In addition to interest as set forth herein, Borrower shall pay to Bank a late charge equal to the greater of (i) five percent (5.00%) of the total payment due, or (ii) $10.00 per late charge, in the event any such amount is not paid within one (1) day after the date when due.

Additional Term Loan. A Loan made on any Commitment Increase Date by a Lender pursuant to such Lender’s Additional Term Commitment as of such Commitment Increase Date. Additional Term Loan Amendment. See §2.12(b).

Additional Term Loan. See §3.7.

Additional Term Loan. The Borrower and the Additional Lenders acknowledge the making of the Additional Term Loan in accordance with the terms of the Existing Credit Agreement and agree that the Additional Term Loan shall continue to be outstanding pursuant to the terms and conditions of this Agreement and the other Loan Documents.

Additional Term Loan. Any funding of any Additional Term Loan shall be as provided, and subject to the terms and conditions set forth, in the applicable New Term Loan Amendment.

Additional Term Loan. In order to evidence an additional one-time advance to LPC (the "January 1999 Additional LPC Term Loan"), which shall be made upon the effective date hereof, LPC is executing and delivering to Congress a Term Promissory Note in the principal amount of $3,550,000 (the "January 1999 Additional LPC Term Note"). The Obligations evidenced by the January 1999 Additional LPC Term Note shall be payable, including interest and other amounts, as provided therein and, to the extent not inconsistent with the terms of the January 1999 Additional LPC Term Note, as provided in the other Financing Agreements, and shall be secured by all Collateral.

Additional Term Loan. The Total Additional Term Loan Commitment shall terminate on the Second Amendment Effective Date after the funding of the Additional Term Loan by the Term Loan Lenders.

Additional Term Loan. A Term Loan made on any Commitment Increase Date by a Term Lender pursuant to such Lender’s Additional Term Commitment as of such Commitment Increase Date. Additional Term Loan Amendment. See §2.12(b). Adjusted Net Operating Income. On any date of determination, for any Real Estate, an amount equal to (i) the Net Operating Income from such Real Estate for the applicable period; less (ii) the Capital Reserve applicable to such Real Estate for the applicable period, calculated on a trailing 12-month basis. For the purposes of calculating Adjusted Net Operating Income for any Real Estate not owned and operated by the Borrower or a Subsidiary Guarantor for the prior four (4) full fiscal quarters most recently ended, the Adjusted Net Operating Income attributable to such Real Estate shall be calculated by using the actual historical results for such Real Estate for the prior four (4) full fiscal quarters most recently ended as if such Real Estate had been owned by the Borrower or a Subsidiary thereof during such period; provided, however, to the extent actual historical Adjusted Net Operating Income attributable to such Real Estate is unavailable, the Borrower may include such calculation of Adjusted Net Operating Income attributable to such Real Estate calculated on a proforma basis utilizing the most recent results available to the Borrower, annualized, so long as the Agent shall have given its prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Additionally, for such Real Estate that has been disposed of during the period of the prior four (4) fiscal quarters most recently ended, the Adjusted Net Operating Income attributable to such Real Estate shall be excluded from the calculation of Unencumbered Pool NOI and Value.

Additional Term Loan. Subject to the terms and conditions of this Agreement, each Additional Term Loan Lender severally agrees to make the Additional Term Loan to the Borrowers on the Closing Date in a principal amount equal to such Lender’s Additional Term Loan Commitment as of the Closing Date.