Amendment Term Loan Clause Samples
Amendment Term Loan. (i) Subject to the terms and conditions of this Agreement and relying on the representations and warranties set forth herein, each Lender, severally and not jointly, agrees to provide its share of the First Amendment Term Loan to Borrower on the First Amendment Date in Dollars in a principal amount equal to such Lender’s First Amendment Date Commitment. No Lender shall have an obligation to make a First Amendment Term Loan in excess of such Lender’s First Amendment Date Commitment.
(ii) Borrower may make one borrowing under the First Amendment Date Commitment which shall be on the First Amendment Date. Subject to Section 3.03, all amounts owed hereunder with respect to the First Amendment Term Loan shall be paid in full no later than the First Amendment Maturity Date. Each Lender’s First Amendment Date Commitment shall terminate immediately and without further action on the First Amendment Date after giving effect to the funding of such Lender’s First Amendment Date Commitment on such date.
(iii) Upon satisfaction or waiver of the conditions precedent set forth in Section 13 of the First Amendment, the Lenders shall make the proceeds of the First Amendment Term Loan available to Borrower on the First Amendment Date.
Amendment Term Loan. The obligation of each First Amendment Term Lender to make a First Amendment Term Loan hereunder on the First Amendment Closing Date during the Certain Funds Period is subject only to the satisfaction (or waiver by each First Amendment Term Lender) of the following conditions precedent in form and substance satisfactory to the Incremental Arranger (the “Conditions” and the date on which such conditions have been satisfied (or waived by each First Amendment Term Lender) and the First Amendment Term Loans have been funded to the Borrower, the “First Amendment Closing Date”), such satisfaction to be conditioned on, with respect to each condition precedent satisfied by delivery of a document, that document having been agreed in form by the Incremental Arranger prior to the date of this Amendment: The Incremental Arranger shall have received counterparts of each of the following, each of which shall be originals or facsimiles or “pdf” files (followed promptly by originals to the extent requested by the Incremental Arranger), each properly executed by a Responsible Officer of the signing Loan Party, each dated as of the First Amendment Closing Date: a Committed Loan Notice with respect to the First Amendment Term Loans; such customary documents and certifications (including Organization Documents and, if applicable, good standing certificates and, if customary, board and/or shareholder resolutions or equivalent) as the Incremental Arranger may reasonably require to evidence (A) the identity, authority and capacity of each Responsible Officer of the Loan Parties and the Offeror acting as such in connection with this Agreement and the other Loan Documents and (B) that Holdings, Intermediate Holdings, the Borrower, each Guarantor and the Offeror is duly organized or formed, and that each of them is validly existing and, to the extent applicable, in good standing, except to the extent that failure to be so qualified could not reasonably be expected to have a Material Adverse Effect; an opinion of ▇▇▇▇▇▇▇ Procter LLP, special New York counsel to Holdings, the Borrower, the Subsidiary Guarantors and, with respect to enforceability, the Offeror, addressed to each First Amendment Term Lender, in form and substance substantially consistent with the form agreed by the Incremental Arranger;
Amendment Term Loan. One of the Loans governed by this Agreement is a term loan in the principal amount of $10,000,000.00 (the “First Amendment Term Loan”). The proceeds of the First Amendment Term Loan will be used to finance a portion of the consideration for the Seller Note Repayment on the First
Amendment Term Loan. For the avoidance of doubt, the Additional Term Loan Commitment shall be zero until all Lenders agree, in their sole and absolute discretion, to make the Additional Term Loan in accordance with Section 2.1(c).
Amendment Term Loan. The “First Amendment Term Loan Commitments” shall mean all of the First Amendment Term Loan Commitments of the Lenders. As of the First Amendment Effective Date (before giving effect to the making of any portion of the First Amendment Term Loan), the aggregate amount of the First Amendment Term Loan Commitments of the Lenders is $4,000,000, which shall be reduced to $0.00 immediately upon the funding of the First Amendment Term Loan.
Amendment Term Loan. The Borrower irrevocably authorizes the Administrative Agent and the Lenders to disburse the proceeds of the First Amendment Term Loan on the First Amendment Effective Date in accordance with the terms of this Agreement. Upon the making of the First Amendment Term Loan on the First Amendment Effective Date, the Term Loan Commitments shall be irrevocably terminated.
Amendment Term Loan. The Parent Borrower shall repay the aggregate outstanding principal amount of the InitialThird Amendment Term Loan in consecutive quarterly installments equal to $6,250,000.00 on the last Business Day of each of March, June, September and December, commencing March 31, 2018 as set forth below,September 30, 2019, except as the amounts of individual installments may be adjusted pursuant to Section 2.11 hereof: PRINCIPAL PAYMENT DATE INSTALLMENT ($) March 31, 2018 $6,250,000 June 30, 2018 $6,250,000 September 30, 2018 $6,250,000 December 31, 2018 $6,250,000 March 31, 2019 $6,250,000 44 103755581_3 119311063_5
Amendment Term Loan. Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, each Term Loan Lender severally agrees to make the InitialThird Amendment Term Loan to the Parent Borrower on the ClosingThird Amendment Effective Date in a principal amount equal to the amount of such Lender’s InitialThird Amendment Term Loan commitment as set forth on Schedule 1.1(a). Any obligation of the Term Loan Lenders to fund the InitialThird Amendment Term Loan shall terminate upon funding of the InitialThird Amendment Term Loan on the ClosingThird Amendment Effective Date.
Amendment Term Loan. (i) On the terms set forth herein and in the First Amendment and subject to the conditions set forth in the First Amendment, each First Amendment Term Loan Lender agreed, severally and not jointly, to make a First Amendment Term Loan to Borrower on the First Amendment Funding Date in a principal amount not to exceed its First Amendment Term Loan Commitment.
(ii) The outstanding principal amount of the First Amendment Term Loan shall be repaid, beginning on the last day of the first full Fiscal Quarter after the First Amendment Funding Date and on the last day of each Fiscal Quarter thereafter, in an amount on each such date equal to 0.25% of the initial principal amount of the First Amendment Term Loan (as adjusted pursuant to the terms of this Agreement to account for the application of any prepayment), with the remaining principal amount of the First Amendment Term Loan then outstanding due and payable in full on the First Amendment Term Loan Maturity Date (each, a “First Amendment Term Loan Scheduled Installment”). Amounts paid or prepaid in respect of the First Amendment Term Loan may not be reborrowed.