Common use of Amortization of Term Loans; Repayment Clause in Contracts

Amortization of Term Loans; Repayment. 6.3.1 The Company shall repay on the last Business Day of March, June, September and December of each year (beginning with the first such date occurring after the Restatement Date) (each, a “Term Loan Repayment Date”), through and including the Term Loan Maturity Date, an aggregate principal amount of Term Loans equal to the product of (x) the aggregate principal amount of Term Loans outstanding on the Restatement Date and (y) the percentage set forth below for each applicable Term Loan Repayment Date, with the balance of the Term Loans due in full on the Term Loan Maturity Date: Term Loan Repayment Date Percentage Each of the first twelve Term Loan Repayment Dates 1.25 % Each of the next four Term Loan Repayment Dates 1.875 % Each Term Loan Repayment Date thereafter 2.50 %

Appears in 1 contract

Samples: Credit Agreement (Regal Beloit Corp)

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Amortization of Term Loans; Repayment. 6.3.1 The Company shall repay on the last Business Day of March, June, September and December of each year (beginning with the first such date occurring after the Restatement Date) (each, a “Term Loan Repayment Date”), through and including the Term Loan Maturity Date, an aggregate principal amount of Term Loans equal to the product of (x) the aggregate principal amount of Term Loans outstanding on the Restatement Date and (y) the percentage set forth below for each applicable Term Loan Repayment Date, with the balance of the Term Loans due in full on the Term Loan Maturity Date: Term Loan Repayment Date Percentage Each of the first twelve Term Loan Repayment Dates 1.25 1.25% Each of the next four Term Loan Repayment Dates 1.875 1.875% Each Term Loan Repayment Date thereafter 2.50 2.50%

Appears in 1 contract

Samples: Credit Agreement (Regal Beloit Corp)

Amortization of Term Loans; Repayment. 6.3.1 The Company shall repay on the last Business Day of March, June, September and December of each year (beginning with the first such date occurring after the Restatement Closing Date) (each, a “Term Loan Repayment Date”), through and including the Term Loan Maturity Date, an aggregate principal amount of Term Loans equal to the product of (x) the aggregate principal amount of Term Loans outstanding on the Restatement Closing Date and (y) the percentage set forth below for each applicable Term Loan Repayment Date, with the balance of the Term Loans due in full on the Term Loan Maturity Date: Term Loan Repayment Date Percentage Each of the first twelve eight Term Loan Repayment Dates 1.25 % Each of the next four Term Loan Repayment Dates 1.875 % Each Term Loan Repayment Date thereafter 2.50 %

Appears in 1 contract

Samples: Credit Agreement (Regal Beloit Corp)

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Amortization of Term Loans; Repayment. 6.3.1 6.3.2 The Company shall repay on the last Business Day of March, June, September and December of each year (beginning with the first such date occurring after the Restatement Closing Date) (each, a “Term Loan Repayment Date”), through and including the Term Loan Maturity Date, an aggregate principal amount of Term Loans equal to the product of (x) the aggregate principal amount of Term Loans outstanding on the Restatement Closing Date and (y) the percentage set forth below for each applicable Term Loan Repayment Date, with the balance of the Term Loans due in full on the Term Loan Maturity Date: Term Loan Repayment Date Percentage Each of the first twelve eight Term Loan Repayment Dates 1.25 % Each of the next four Term Loan Repayment Dates 1.875 % Each Term Loan Repayment Date thereafter 2.50 %

Appears in 1 contract

Samples: Credit Agreement (Regal Beloit Corp)

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