Common use of Additional Term Loan Clause in Contracts

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. At any time prior Subject to November 30the terms and conditions hereof, 2015each Lender, Borrower may request the Bank severally, but not jointly, agrees to make an additional term loan (the “Additional Term Loan”, and together with the Existing Term Loan, the “Term Loan”) to Borrower on the First Amendment Closing Date in an aggregate principal amount equal to such Lender’s additional amount not to exceed Four Million Dollars and No/100 Cents ($4,000,000.00) term loan commitment as identified on Schedule A hereto (such request referred additional term loan commitment of each Lender as it may be amended to herein as a reflect assignments made in accordance with this Agreement or terminated or reduced in accordance with this Agreement, its “Additional Term Loan RequestCommitment”). Any Additional Term Loan Request shall be in writing , and shall set forth the requested amount aggregate 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 thereofsuch commitments, the “Additional Term NoteLoan Commitments”) substantially in ). Notwithstanding the form (includingforegoing, without limitation, an interest rate equal to the Note Rate defined therein) of the Term Note. The proceeds aggregate principal amount of the Additional Term Loan made hereunder shall be used solely for general corporate purposes not exceed $4,642,857.16 (including, but not limited to, future acquisitions and Borrower’s long-term growth). The the “Total Additional Term Loan is evidenced by and repayable with interest in accordance with the terms of this Agreement Commitment”), and the Additional Term Note. Borrower will make the following monthly payments under the Additional Term Note: (a) beginning on first Business Day aggregate principal amount of the month Term Loan, 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 giving effect to 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 shall not exceed $12,500,000. Each Lender’s obligation to amortize completely fund the Additional Term Loan over shall be limited to such Lender’s Pro Rata Share (as defined below) of the remaining term Additional Term Loan. As of the First Amendment Closing Date, GECC shall be the only Lender, shall hold 100% of the Additional Term Loan plus a payment Commitments and, subject to the terms and conditions hereof, will fund 100% 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 on the First Amendment Closing Date. Prior to funding of the Additional Term Loan, all references in Section 6. In addition this Agreement to interest as set forth herein“Commitments” shall mean the aggregate outstanding principal amount of the Existing Term Loan, Borrower shall pay to Bank a late charge equal and after funding of the Additional Term Loan all references in this Agreement to the greater of (i) five percent (5.00%) Commitments shall mean the outstanding principal amount 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 dueTerm Loan.

Additional Term Loan. At Subject to the terms and conditions of this Agreement, on any time date after the Closing Date but prior to November 30the date that is 18 months after the Closing Date, 2015each Lender with a Term Loan Commitment agrees (severally, Borrower may request the Bank an not jointly or jointly and severally) to make additional term loan loans (collectively, the “Additional Term Loans,” and, collectively with the Initial Term Loan, the “Term Loan”) to Borrowers in an aggregate additional amount not equal to exceed Four Million Dollars and No/100 Cents ($4,000,000.00) (such request referred to herein as a “Lender’s Pro Rata Share of the amount of the Additional Term Loan Request”). Any requested by Borrowers (the “Requested Additional Term Loan Request Amount”), so long as (A) no Event of Default shall have occurred and be continuing on the date that any such Additional Term Loan is made, nor shall an Event of Default result therefrom, (B) each such Additional Term Loan is in writing an increment of at least $1,500,000 (or, if less, the then-remaining undrawn portion of the Maximum Additional Term Loan Amount) and shall set forth (C) the requested Requested Additional Term Loan Amount, when taken together with the aggregate amount of Four Million Dollars and No/100 Cents ($4,000,000.00)all Additional Term Loans made prior thereto, would not exceed the Maximum Additional Term Loan Amount. The Each Additional Term Loan shall be evidenced by and repayable as set forth repaid in monthly installments, each in an additional promissory note payable amount equal to the order one-forty-eighth (1/48th) of the Bank executed by the Borrower concurrently with the such Additional Term Loan (together with all renewalsAmount, modifications plus accrued and extensions thereofunpaid interest on such amounts, such installments to be due and payable on the “Additional Term Note”) substantially in first day of each month commencing on the form (including, without limitation, an interest rate equal to the Note Rate defined therein) first day of the Term Note. The proceeds of first month immediately succeeding the Applicable Additional Term Loan shall be used solely for general corporate purposes (includingDate and ending on the Maturity Date, 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 outstanding unpaid principal balance 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 1under such Additional Term Loan due and payable on the date of termination of this Agreement, 2019whether by its terms, at which time the entire remaining by prepayment, or by acceleration. All amounts 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 Loans 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 dueconstitute Obligations.