Amortization of Term Loans. (a) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche A Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche A Commitments multiplied by (ii) the percentage set forth opposite such date: Date Percentage ---- ---------- June 30, 2003.......................................................... 1.25% September 30, 2003..................................................... 1.25% December 31, 2003...................................................... 1.25% March 31, 2004......................................................... 1.25% June 30, 2004.......................................................... 3.75% September 30, 2004..................................................... 3.75% December 31, 2004...................................................... 3.75% March 31, 2005......................................................... 3.75% June 30, 2005.......................................................... 5.00% September 30, 2005..................................................... 5.00% December 31, 2005...................................................... 5.00% March 31, 2006......................................................... 5.00% June 30, 2006.......................................................... 5.00% September 30, 2006..................................................... 5.00% December 31, 2006...................................................... 5.00% March 31, 2007......................................................... 5.00% June 30, 2007.......................................................... 5.00% September 30, 2007..................................................... 5.00% December 31, 2007...................................................... 5.00% March 31, 2008......................................................... 5.00% June 30, 2008.......................................................... 5.00% September 30, 2008..................................................... 5.00% December 31, 2008...................................................... 5.00% Tranche A Maturity Date................................................ 5.00% (b) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche C Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche C Commitments multiplied by (ii) the percentage set forth opposite such date: Date Amount ---- ------ June 30, 2003............................................................ 0.25% September 30, 2003....................................................... 0.25% December 31, 2003........................................................ 0.25% March 31, 2004........................................................... 0.25% June 30, 2004............................................................ 0.25% September 30, 2004....................................................... 0.25% December 31, 2004........................................................ 0.25% March 31, 2005........................................................... 0.25% June 30, 2005............................................................ 0.25% September 30, 2005....................................................... 0.25% Date Amount ---- ------ December 31, 2005....................................................... 0.25% March 31, 2006.......................................................... 0.25% June 30, 2006........................................................... 0.25% September 30, 2006...................................................... 0.25% December 31, 2006....................................................... 0.25% March 31, 2007.......................................................... 0.25% June 30, 2007........................................................... 0.25% September 30, 2007...................................................... 0.25% December 31, 2007....................................................... 0.25% March 31, 2008.......................................................... 0.25% June 30, 2008........................................................... 0.25% September 30, 2008...................................................... 0.25% December 31, 2008....................................................... 0.25% March 31, 2009.......................................................... 0.25% June 30, 2009........................................................... 23.50% September 30, 2009...................................................... 23.50% December 31, 2009....................................................... 23.50% Tranche C Maturity Date................................................. 23.50% (c) To the extent not previously paid, (i) all Tranche A Term Loans shall be due and payable on the Tranche A Maturity Date and (ii) all Tranche C Term Loans shall be due and payable on the Tranche C Maturity Date. (d) Any prepayment of a Term Borrowing of either Class shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section ratably. (e) Prior to any repayment of any Term Borrowings of either Class hereunder, the Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 a.m., New York City time, three Business Days before the scheduled date of such repayment. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Cumulus Media Inc)
Amortization of Term Loans. (a) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche A A1 Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche A Commitments $202,656,250 multiplied by (ii) the percentage set forth opposite such date: Percentage Date Percentage of original ---- ---------- June 30, 2003.......................................................... 1.25% September 30, 2003..................................................... 1.25% December 31, 2003...................................................... 1.25% March 31, 2004......................................................... 1.25% June 30, 2004.......................................................... 3.75% ----------- September 30, 2004..................................................... .................................................................................. 3.75% December 31, 2004...................................................... ................................................................................... 3.75% March 31, 2005......................................................... ...................................................................................... 3.75% June 30, 2005.......................................................... ....................................................................................... 5.00% September 30, 2005..................................................... .................................................................................. 5.00% December 31, 2005...................................................... ................................................................................... 5.00% March 31, 2006......................................................... ...................................................................................... 5.00% Percentage Date of original ---- ----------- June 30, 2006.......................................................... ....................................................................................... 5.00% September 30, 2006..................................................... .................................................................................. 5.00% December 31, 2006...................................................... ................................................................................... 5.00% March 31, 2007......................................................... ...................................................................................... 5.00% June 30, 2007.......................................................... ....................................................................................... 5.00% September 30, 2007..................................................... .................................................................................. 5.00% December 31, 2007...................................................... ................................................................................... 5.00% March 31, 2008......................................................... ...................................................................................... 5.00% June 30, 2008.......................................................... ....................................................................................... 5.00% September 30, 2008..................................................... .................................................................................. 5.00% December 31, 2008...................................................... ................................................................................... 5.00% Tranche A A1 Maturity Date................................................ 5.00............................................................................ 13.75%
(b) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche C E Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche C Commitments $220,937,500 multiplied by (ii) the percentage set forth opposite such date: Date Amount ---- ------ June 30, 2003............................................................ 0.25% September 30, 2003....................................................... 0.25% December 31, 2003........................................................ 0.25% March 31, 2004........................................................... 0.25% June 30, 2004............................................................ 0.25% September 30, 2004....................................................... .................................................................................. 0.25% December 31, 2004........................................................ ................................................................................... 0.25% March 31, 2005........................................................... ...................................................................................... 0.25% June 30, 2005............................................................ ....................................................................................... 0.25% September 30, 2005....................................................... .................................................................................. 0.25% Date Amount ---- ------ December 31, 2005....................................................... ................................................................................... 0.25% March 31, 2006.......................................................... ...................................................................................... 0.25% June 30, 2006........................................................... ....................................................................................... 0.25% September 30, 2006...................................................... .................................................................................. 0.25% December 31, 2006....................................................... ................................................................................... 0.25% March 31, 2007.......................................................... ...................................................................................... 0.25% June 30, 2007........................................................... ....................................................................................... 0.25% September 30, 2007...................................................... .................................................................................. 0.25% December 31, 2007....................................................... ................................................................................... 0.25% March 31, 2008.......................................................... ...................................................................................... 0.25% June 30, 2008........................................................... ....................................................................................... 0.25% September 30, 2008...................................................... .................................................................................. 0.25% December 31, 2008....................................................... ................................................................................... 0.25% March 31, 2009.......................................................... ...................................................................................... 0.25% June 30, 2009........................................................... ....................................................................................... 23.50% September 30, 2009...................................................... .................................................................................. 23.50% December 31, 2009....................................................... ................................................................................... 23.50% Tranche C E Maturity Date................................................. 23.50............................................................................. 24.75%
(c) To the extent not previously paid, (i) all Tranche A A1 Term Loans shall be due and payable on the Tranche A A1 Maturity Date and (ii) all Tranche C E Term Loans shall be due and payable on the Tranche C E Maturity Date.
(d) Any prepayment of a Term Borrowing of either Class shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section ratably.
(e) Prior to any repayment of any Term Borrowings of either Class hereunder, the Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 a.m., New York City time, three Business Days before the scheduled date of such repayment. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Cumulus Media Inc)
Amortization of Term Loans. (a) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche A Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the initial Tranche A Commitments multiplied by (ii) the percentage set forth opposite such date: Date Percentage ---- ---------- June 30, 2003.......................................................... ..............................................................1.25% September 30, 2003..................................................... .........................................................1.25% December 31, 2003...................................................... ..........................................................1.25% March 31, 2004......................................................... .............................................................1.25% June 30, 2004.......................................................... ..............................................................3.75% September 30, 2004..................................................... .........................................................3.75% December 31, 2004...................................................... ..........................................................3.75% March 31, 2005......................................................... .............................................................3.75% June 30, 2005.......................................................... ..............................................................5.00% September 30, 2005..................................................... .........................................................5.00% December 31, 2005...................................................... ..........................................................5.00% March 31, 2006......................................................... .............................................................5.00% June 30, 2006.......................................................... ..............................................................5.00% September 30, 2006..................................................... .........................................................5.00% December 31, 2006...................................................... ..........................................................5.00% March 31, 2007......................................................... .............................................................5.00% June 30, 2007.......................................................... ..............................................................5.00% September 30, 2007..................................................... .........................................................5.00% December 31, 2007...................................................... ..........................................................5.00% March 31, 2008......................................................... .............................................................5.00% June 30, 2008.......................................................... ..............................................................5.00% September 30, 2008..................................................... .........................................................5.00% December 31, 2008...................................................... ..........................................................5.00% Tranche A Maturity Date................................................ ....................................................5.00%
(b) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche C B Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the initial Tranche C B Commitments multiplied by (ii) the percentage set forth opposite such date: Date Amount ---- ------ June 30, 2003............................................................ .............................................................. 0.25% September 30, 2003....................................................... ......................................................... 0.25% December 31, 2003........................................................ .......................................................... 0.25% March 31, 2004........................................................... ............................................................. 0.25% June 30, 2004............................................................ .............................................................. 0.25% September 30, 2004....................................................... ......................................................... 0.25% December 31, 2004........................................................ .......................................................... 0.25% March 31, 2005........................................................... ............................................................. 0.25% June 30, 2005............................................................ .............................................................. 0.25% September 30, 2005....................................................... ......................................................... 0.25% Date Amount ---- ------ December 31, 2005....................................................... .......................................................... 0.25% March 31, 2006.......................................................... ............................................................. 0.25% June 30, 2006........................................................... .............................................................. 0.25% September 30, 2006...................................................... ......................................................... 0.25% December 31, 2006....................................................... .......................................................... 0.25% March 31, 2007.......................................................... ............................................................. 0.25% June 30, 2007........................................................... .............................................................. 0.25% September 30, 2007...................................................... ......................................................... 0.25% December 31, 2007....................................................... .......................................................... 0.25% March 31, 2008.......................................................... ............................................................. 0.25% June 30, 2008........................................................... .............................................................. 0.25% September 30, 2008...................................................... ......................................................... 0.25% December 31, 2008....................................................... .......................................................... 0.25% March 31, 2009.......................................................... ............................................................. 0.25% June 30, 2009........................................................... ..............................................................23.50% September 30, 2009...................................................... .........................................................23.50% December 31, 2009....................................................... ..........................................................23.50% Tranche C B Maturity Date................................................. ....................................................23.50%
(c) To the extent not previously paid, (i) all Tranche A Term Loans shall be due and payable on the Tranche A Maturity Date and (ii) all Tranche C B Term Loans shall be due and payable on the Tranche C B Maturity Date.
(d) Any prepayment of a Term Borrowing of either Class shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section ratably.
(e) Prior to any repayment of any Term Borrowings of either Class hereunder, the Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 a.m., New York City time, three Business Days before the scheduled date of such repayment. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid.
Appears in 1 contract
Samples: Credit Agreement (Cumulus Media Inc)
Amortization of Term Loans. (a) Subject to adjustment -------------------------- pursuant to paragraph (de) of this Section, the Parent Borrower and the Netherlands Borrower shall repay Tranche A A-1 Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the initial Tranche A A-1 Term Loan Commitments multiplied by (ii) the percentage set forth opposite such date: Date Percentage ---- ---------- December 31, 2002 ...................................... 2.50% March 31, 2003 ......................................... 2.50% June 30, 2003.......................................................... 1.252003 .......................................... 2.50% September 30, 2003..................................................... 1.252003 ..................................... 2.50% December 31, 2003...................................................... 1.252003 ...................................... 3.75% March 31, 2004......................................................... 1.252004 ......................................... 3.75% June 30, 2004.......................................................... 2004 .......................................... 3.75% September 30, 2004..................................................... 2004 ..................................... 3.75% December 31, 2004...................................................... 3.752004 ...................................... 5.00% March 31, 2005......................................................... 3.752005 ......................................... 5.00% June 30, 2005.......................................................... 2005 .......................................... 5.00% September 30, 2005..................................................... 2005 ..................................... 5.00% December 31, 2005...................................................... 2005 ...................................... 5.00% March 31, 2006......................................................... 2006 ......................................... 5.00% June 30, 2006.......................................................... 5.002006 .......................................... 7.50% September 30, 2006..................................................... 5.002006 ..................................... 7.50% December 31, 2006...................................................... 5.002006 ...................................... 7.50% March 31, 2007......................................................... 5.002007 ......................................... 7.50% June 30, 2007.......................................................... 5.00% September 30, 2007..................................................... 5.00% December 31, 2007...................................................... 5.00% March 31, 2008......................................................... 5.00% June 30, 2008.......................................................... 5.00% September 30, 2008..................................................... 5.00% December 31, 2008...................................................... 5.002007 .......................................... 7.50% Tranche A Term Loan Maturity Date................................................ 5.00Date ...................... 7.50%
(b) Subject to adjustment pursuant to paragraph (de) of this Section, the Canadian Borrower shall repay Tranche C A-2 Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the initial Tranche C A-2 Term Loan Commitments multiplied by (ii) the percentage set forth opposite such date: Date Percentage ---- ---------- December 31, 2002 ...................................... 2.50% March 31, 2003 ......................................... 2.50% June 30, 2003 .......................................... 2.50% September 30, 2003 ..................................... 2.50% December 31, 2003 ...................................... 3.75% March 31, 2004 ......................................... 3.75% June 30, 2004 .......................................... 3.75% September 30, 2004 ..................................... 3.75% December 31, 2004 ...................................... 5.00% March 31, 2005 ......................................... 5.00% June 30, 2005 .......................................... 5.00% September 30, 2005 ..................................... 5.00% December 31, 2005 ...................................... 5.00% March 31, 2006 ......................................... 5.00% June 30, 2006 .......................................... 7.50% September 30, 2006 ..................................... 7.50% December 31, 2006 ...................................... 7.50% March 31, 2007 ......................................... 7.50% June 30, 2007 .............................................. 7.50% Tranche A Term Loan Maturity Date .......................... 7.50%
(c) Subject to adjustment pursuant to paragraph (e) of this Section, the Parent Borrower shall repay Tranche B Term Borrowings on each date set forth below in the aggregate principal amount equal to (i) the aggregate amount of the initial Tranche B Term Loan Commitments multiplied by (ii) the percentage set forth opposite such date: Date Amount ---- ------ December 31, 2001 .......................................... 0.25% March 31, 2002 ............................................. 0.25% June 30, 2003............................................................ 2002 .............................................. 0.25% September 30, 2003....................................................... 2002 ......................................... 0.25% December 31, 2003........................................................ 2002 .......................................... 0.25% March 31, 2004........................................................... 2003 ............................................. 0.25% June 30, 2004............................................................ 2003 .............................................. 0.25% September 30, 2004....................................................... 2003 ......................................... 0.25% December 31, 2004........................................................ 2003 .......................................... 0.25% March 31, 2005........................................................... 2004 ............................................. 0.25% June 30, 2005............................................................ 2004 .............................................. 0.25% September 30, 2005....................................................... 2004 ......................................... 0.25% Date Amount ---- ------ December 31, 2005....................................................... 2004 .......................................... 0.25% March 31, 2006.......................................................... 2005 ............................................. 0.25% June 30, 2006........................................................... 2005 .............................................. 0.25% September 30, 2006...................................................... 2005 ......................................... 0.25% December 31, 2006....................................................... 2005 .......................................... 0.25% March 31, 2007.......................................................... 2006 ............................................. 0.25% June 30, 2007........................................................... 2006 .............................................. 0.25% September 30, 2007...................................................... 2006 ......................................... 0.25% December 31, 2007....................................................... 2006 .......................................... 0.25% March 31, 2008.......................................................... 2007 ............................................. 0.25% June 30, 2008........................................................... 0.252007 .............................................. 5.00% September 30, 2008...................................................... 0.252007 ......................................... 5.00% December 31, 2008....................................................... 0.252007 .......................................... 7.50% March 31, 2009.......................................................... 0.252008 ............................................. 7.50% June 30, 2009........................................................... 23.502008 .............................................. 12.50% September 30, 2009...................................................... 23.502008 ......................................... 12.50% December 31, 2009....................................................... 23.502008 .......................................... 20.00% Tranche C B Term Loan Maturity Date................................................. 23.50Date .......................... 24.50%
(cd) To the extent not previously paid, (i) all Tranche A Term Loans shall be due and payable on the Tranche A Term Loan Maturity Date and (ii) all Tranche C B Term Loans shall be due and payable on the Tranche C B Term Loan Maturity Date.
(de) Any prepayment of a Term Borrowing of either any Class shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section ratably; provided that any prepayment -------- made pursuant to Section 2.11(a) shall be applied, first, to reduce (in the direct order of maturity) the next two scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section (to the extent that such scheduled repayments would otherwise occur within 12 months of such prepayments made pursuant to Section 2.11(a)) unless and until such next two scheduled repayments have been eliminated as a result of reductions hereunder and, second, to reduce the remaining scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section ratably. If the initial aggregate amount of the Lenders' Term Commitments of any Class exceeds the aggregate principal amount of Term Loans of such Class that are made on the Effective Date, then the scheduled repayments of Term Borrowings of such Class to be made pursuant to this Section shall be reduced ratably by an aggregate amount equal to such excess.
(ef) Prior to any repayment of any Term Borrowings of either any Class hereunder, the Parent Borrower shall select the Borrowing or Borrowings of the applicable Class (including, in the case of the Tranche A-1 Term Loans, Borrowings of the Netherlands Borrower) to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 11:00 a.m., New York City time, three Business Days before the scheduled date of such repayment. In the case of Tranche A-1 Term Borrowings, the Parent Borrower may select Borrowings of the Parent Borrower or Borrowings of the Netherlands Borrower (or any combination of such Borrowings) to be repaid; provided that the aggregate amount of such Borrowings is not less than the amount required to be repaid pursuant to paragraph (a) of this Section 2.10. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid.
Appears in 1 contract
Samples: Credit Agreement (Armkel LLC)
Amortization of Term Loans. (a) Subject to adjustment pursuant to paragraph (de) of this Section, the Borrower Term Loan Borrowers shall repay Tranche A B Term Borrowings Loans on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche A Commitments multiplied by (ii) the percentage set forth opposite such date: Date Percentage ---- ---------- June 30, 2003.......................................................... 1.25% September 30, 2003..................................................... 1.25% December 31, 2003...................................................... 1.25% March 31, 2004......................................................... 1.25% June 30, 2004.......................................................... 3.75% September 30, 2004..................................................... 3.75% December 31, 2004...................................................... 3.75% March 31, 2005......................................................... 3.75% June 30, 2005.......................................................... 5.00% September 30, 2005..................................................... 5.00% December 31, 2005...................................................... 5.00% March 31, 2006......................................................... 5.00% June 30, 2006.......................................................... 5.00% September 30, 2006..................................................... 5.00% December 31, 2006...................................................... 5.00% March 31, 2007......................................................... 5.00% June 30, 2007.......................................................... 5.00% September 30, 2007..................................................... 5.00% December 31, 2007...................................................... 5.00% March 31, 2008......................................................... 5.00% June 30, 2008.......................................................... 5.00% September 30, 2008..................................................... 5.00% December 31, 2008...................................................... 5.00% Tranche A Maturity Date................................................ 5.00%
(b) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche C Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche C Commitments multiplied by (ii) the percentage set forth opposite such date: Date Amount ---- ------ December 31, 2002............................................ $ 625,000 March 31, 2003............................................... $ 625,000 June 30, 2003............................................................ 0.25% ................................................ $ 625,000 September 30, 2003....................................................... 0.25% ........................................... $ 625,000 December 31, 2003........................................................ 0.25% ............................................ $ 625,000 March 31, 2004........................................................... 0.25% ............................................... $ 625,000 72 Date Amount ---- ------ June 30, 2004............................................................ 0.25% ................................................ $ 625,000 September 30, 2004....................................................... 0.25% ........................................... $ 625,000 December 31, 2004........................................................ 0.25% ............................................ $ 625,000 March 31, 2005........................................................... 0.25% ............................................... $ 625,000 June 30, 2005............................................................ 0.25% ................................................ $ 625,000 September 30, 2005....................................................... 0.25% Date Amount ---- ------ ........................................... $ 625,000 December 31, 2005....................................................... 0.25% ............................................ $ 625,000 March 3130, 2006.......................................................... 0.25% ............................................... $ 625,000 June 30, 2006........................................................... 0.25% ................................................ $ 625,000 September 30, 2006...................................................... 0.25% ........................................... $ 625,000 December 31, 2006....................................................... 0.25% ............................................ $ 625,000 March 31, 2007.......................................................... 0.25% ............................................... $ 625,000 June 30, 2007........................................................... 0.25% ................................................ $ 625,000 September 30, 2007...................................................... 0.25% ........................................... $ 625,000 December 31, 2007....................................................... 0.25% ............................................ $ 625,000 March 31, 2008.......................................................... 0.25% ............................................... $ 625,000 June 30, 2008........................................................... 0.25% ................................................ $ 625,000 September 30, 2008...................................................... 0.25% ........................................... $ 625,000 December 31, 2008....................................................... 0.25% ............................................ $ 625,000 March 3130, 2009.......................................................... 0.25% ............................................... $ 625,000 June 30, 2009........................................................... 23.50% ................................................ $ 625,000 September 30, 2009...................................................... 23.50% December 31, 2009....................................................... 23.50% ........................................... $ 118,125,000 Tranche C B Maturity Date................................................. 23.50%...................................... $ 125,000,000
(b) The Incremental Term Loans, if any, of each Incremental Lender shall mature in installments as specified in the Incremental Term Loan Activation Notice pursuant to which such Incremental Term Loans were made; provided that prior to the Tranche B Maturity Date the amounts of such installments for any twelve consecutive months shall not exceed 1% of the aggregate principal amount of such Incremental Term Loans on the date such Loans were first made.
(c) To the extent not previously paid, (i) all Tranche A B Term Loans shall be due and payable on the Tranche A B Maturity Date and (ii) all Tranche C Incremental Term Loans shall be due and payable on the Tranche C applicable Incremental Maturity Date.
(d) Any prepayment of a Term Borrowing Loan of either any Class shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings Loans of such Class to be made pursuant to this Section ratably; provided that any prepayment made pursuant to Section 2.11(a) shall be applied, first, to reduce the next two scheduled repayments of the Term Loans of such Class due to be made within the next twelve months pursuant to this Section unless and until such next scheduled repayment has been eliminated as a result of reductions hereunder (provided, further, that the amount of such prepayment that may be allocated as provided in this proviso may not exceed the greater of 50% of such prepayment and the amount of such two scheduled repayments). Notwithstanding the foregoing, any prepayment of Eurocurrency Term Loans made pursuant to Section 2.11(a) on a date that is (x) the last day of an Interest Period and (y) no more than five days prior to a scheduled amortization payment pursuant this Section shall be applied, first, to reduce such scheduled payment, and any excess shall be applied as required by the first sentence of this Section 2.10(d).
(e) Prior to any repayment of any Term Borrowings Loans of either Class hereunder, the Parent Borrower (on behalf of itself and, in the case of Tranche B Term Loans, the applicable Subsidiary Term Borrower) shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 11:00 a.m., New York City time, three Business Days before the scheduled date of such repayment. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Borrowings Loans shall be accompanied by accrued interest on the amount repaid.
Appears in 1 contract
Samples: Credit Agreement (Trimas Corp)
Amortization of Term Loans. (a) Subject to adjustment pursuant to paragraph (de) of this Section, the Borrower Tranche A Borrowers shall repay Tranche A Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche A Commitments multiplied by (ii) the percentage set forth opposite such date: Date Percentage ---- ---------- Amount June 30, 2001 ....................................... $ 10,000,000 December 31, 2001.................................... $ 20,000,000 June 30, 2002........................................ $ 20,000,000 December 31, 2002.................................... $ 30,000,000 June 30, 2003.......................................................... 1.25% September 30, 2003..................................................... 1.25% ........................................ $ 35,000,000 -66- Date Amount December 31, 2003...................................................... 1.25% March 31, 2004......................................................... 1.25% .................................... $ 35,000,000 June 30, 2004.......................................................... 3.75% September 30, 2004..................................................... 3.75% ........................................ $ 40,000,000 December 31, 2004...................................................... 3.75% March 31, 2005......................................................... 3.75% .................................... $ 40,000,000 June 30, 2005.......................................................... 5.00% September 30, 2005..................................................... 5.00% ........................................ $ 40,000,000 December 31, 2005...................................................... 5.00% March 31, 2006......................................................... 5.00% .................................... $ 40,000,000 June 30, 2006.......................................................... 5.00% September 30, 2006..................................................... 5.00% ........................................ $ 45,000,000 December 31, 2006...................................................... 5.00% March 31, 2007......................................................... 5.00% June 30, 2007.......................................................... 5.00% September 30, 2007..................................................... 5.00% December 31, 2007...................................................... 5.00% March 31, 2008......................................................... 5.00% June 30, 2008.......................................................... 5.00% September 30, 2008..................................................... 5.00% December 31, 2008...................................................... 5.00% .................................... $ 45,000,000 Tranche A Maturity Date................................................ 5.00%.............................. $100,000,000
(b) Subject to adjustment pursuant to paragraph (de) of this Section, the Parent Borrower shall repay Tranche C B Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche C Commitments multiplied by (ii) the percentage set forth opposite such date: Date Amount ---- ------ June 30, 20.01....................................... $ 500,000 December 31, 2001.................................... $ 500,000 June 30, 2002........................................ $ 500,000 December 31, 2002.................................... $ 500,000 June 30, 2003............................................................ 0.25% September 30, 2003....................................................... 0.25% ........................................ $ 500,000 December 31, 2003........................................................ 0.25% March 31, 2004........................................................... 0.25% .................................... $ 500,000 June 30, 2004............................................................ 0.25% September 30, 2004....................................................... 0.25% ........................................ $ 500,000 December 31, 2004........................................................ 0.25% March 31, 2005........................................................... 0.25% .................................... $ 500,000 June 30, 2005............................................................ 0.25% September 30, 2005....................................................... 0.25% Date Amount ---- ------ ........................................ $ 500,000 December 31, 2005....................................................... 0.25% March 31, 2006.......................................................... 0.25% .................................... $ 500,000 June 30, 2006........................................................... 0.25% September 30, 2006...................................................... 0.25% ........................................ $ 500,000 December 31, 2006....................................................... 0.25% March 31, 2007.......................................................... 0.25% .................................... $ 500,000 June 30, 2007........................................................... 0.25% September 30, 2007...................................................... 0.25% ........................................ $ 62,500,000 December 31, 2007....................................................... 0.25% March 31, 2008.......................................................... 0.25% .................................... $107,500,000 June 30, 2008........................................................... 0.25% September 30, 2008...................................................... 0.25% December 31, 2008....................................................... 0.25% March 31, 2009.......................................................... 0.25% June 30, 2009........................................................... 23.50% September 30, 2009...................................................... 23.50% December 31, 2009....................................................... 23.50% ........................................ $162,000,000 Tranche C B Maturity Date................................................. 23.50%.............................. $162,000,000
(c) The Incremental Term Loans, if any, of each Incremental Lender shall mature in installments as specified in the Incremental Term Loan Activation Notice pursuant to which such Incremental Term Loans were made; provided that prior to the date that is six months prior to the Tranche B Maturity Date the amounts of such installments for any twelve consecutive months shall not exceed 1% of the aggregate principal amount of such Incremental Term Loans on the date such Loans were first made.
(d) To the extent not previously paid, (i) all Tranche A Term Loans shall be due and payable on the Tranche A Maturity Date and Date, (ii) all Tranche C B Term Loans shall be due and payable on the Tranche C B Maturity Date and (iii) all Incremental Term Loans shall be due and payable on the applicable Incremental Maturity Date.
(de) Any prepayment of a Term Borrowing of either any Class shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section ratably; provided that (i) any prepayment made pursuant to Section 2.11(a) shall be applied, first, to reduce the next two scheduled repayments of the Term Borrowings of such Class due to be made within the next twelve months pursuant to this Section unless and until such next scheduled repayment has been eliminated as a result of reductions hereunder (provided, further, that the amount of such prepayment that may be allocated as provided in clause (i) of this proviso may not exceed the greater of 50% of such prepayment and the amount of such two scheduled repayments) and (ii) any prepayment of Tranche A Borrowings made pursuant to Section 2.11(f) during the period when any Convertible Debentures are outstanding shall be applied to reduce the next scheduled repayments of Tranche A Borrowings pursuant to Section 2.10(a). Notwithstanding the foregoing, any prepayment of Eurocurrency Term Borrowings made pursuant to Section 2.11(a) on a date that is (x) the last day of an Interest Period and (y) no more than five days prior to a scheduled amortization payment pursuant this Section shall be applied, first, to reduce such scheduled payment, and any excess shall be applied as required by the first sentence of this Section 2.10(e).
(ef) Prior to any repayment of any Term Borrowings of either Class hereunder, the Parent Borrower (on behalf of itself and, in the case of Tranche A Borrowings, the applicable Subsidiary Term Borrower) shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 11:00 a.m., New York City time, three Business Days before the scheduled date of such repayment. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid.
Appears in 1 contract
Samples: Credit Agreement (Mascotech Inc)
Amortization of Term Loans. (a) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche A Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche A Commitments $112,500,000 multiplied by (ii) the percentage set forth opposite such date: Date Percentage ---- ------------------- ---------- June 30, 2003.......................................................... 1.25% September 30, 2003..................................................... 1.25% December 31, 2003...................................................... 1.25% March 31, 2004......................................................... ............................................................ 1.25% June 30, 2004.......................................................... ............................................................. 3.75% September 30, 2004..................................................... ........................................................ 3.75% December 31, 2004...................................................... ......................................................... 3.75% March 31, 2005......................................................... ............................................................ 3.75% June 30, 2005.......................................................... ............................................................. 5.00% September 30, 2005..................................................... ........................................................ 5.00% December 31, 2005...................................................... ......................................................... 5.00% March 31, 2006......................................................... ............................................................ 5.00% June 30, 2006.......................................................... ............................................................. 5.00% September 30, 2006..................................................... ........................................................ 5.00% December 31, 2006...................................................... ......................................................... 5.00% March 31, 2007......................................................... ............................................................ 5.00% June 30, 2007.......................................................... ............................................................. 5.00% September 30, 2007..................................................... ........................................................ 5.00% December 31, 2007...................................................... ......................................................... 5.00% March 31, 2008......................................................... ............................................................ 5.00% June 30, 2008.......................................................... ............................................................. 5.00% September 30, 2008..................................................... ........................................................ 5.00% December 31, 2008...................................................... ......................................................... 5.00% Tranche A Maturity Date................................................ ................................................... 5.00%
(b) Subject to adjustment pursuant to paragraph (d) of this Section, the Borrower shall repay Tranche C D Term Borrowings on each date set forth below in the aggregate principal amount equal to the product of (i) the initial aggregate amount of the Tranche C Commitments $325,000,000 multiplied by (ii) the percentage set forth opposite such date: Date Amount ---- ------------------ ------ June 30, 2003............................................................ 0.25% September 30, 2003....................................................... 0.25% December 31, 2003........................................................ 0.25% March 31, 2004........................................................... ............................................................ 0.25% June 30, 2004............................................................ ............................................................. 0.25% September 30, 2004....................................................... ........................................................ 0.25% December 31, 2004........................................................ ......................................................... 0.25% March 31, 2005........................................................... ............................................................ 0.25% June 30, 2005............................................................ ............................................................. 0.25% 41 Date Amount ------------------ ------ September 30, 2005....................................................... ........................................................ 0.25% Date Amount ---- ------ December 31, 2005....................................................... ......................................................... 0.25% March 31, 2006.......................................................... ............................................................ 0.25% June 30, 2006........................................................... ............................................................. 0.25% September 30, 2006...................................................... ........................................................ 0.25% December 31, 2006....................................................... ......................................................... 0.25% March 31, 2007.......................................................... ............................................................ 0.25% June 30, 2007........................................................... ............................................................. 0.25% September 30, 2007...................................................... ........................................................ 0.25% December 31, 2007....................................................... ......................................................... 0.25% March 31, 2008.......................................................... ............................................................ 0.25% June 30, 2008........................................................... ............................................................. 0.25% September 30, 2008...................................................... ........................................................ 0.25% December 31, 2008....................................................... ......................................................... 0.25% March 31, 2009.......................................................... ............................................................ 0.25% June 30, 2009........................................................... ............................................................. 23.50% September 30, 2009...................................................... ........................................................ 23.50% December 31, 2009....................................................... ......................................................... 23.50% Tranche C D Maturity Date................................................. ................................................... 23.50%
(c) To the extent not previously paid, (i) all Tranche A Term Loans shall be due and payable on the Tranche A Maturity Date and (ii) all Tranche C D Term Loans shall be due and payable on the Tranche C D Maturity Date.
(d) Any prepayment of a Term Borrowing of either Class shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings of such Class to be made pursuant to this Section ratably.
(e) Prior to any repayment of any Term Borrowings of either Class hereunder, the Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by telecopy) of such selection not later than 12:00 a.m., New York City time, three Business Days before the scheduled date of such repayment. Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Borrowings shall be accompanied by accrued interest on the amount repaid.
Appears in 1 contract
Samples: Credit Agreement (Cumulus Media Inc)
