Common use of Amortization of Term Loans Clause in Contracts

Amortization of Term Loans. (a) The Borrower shall repay Initial Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on December 31, 2019) in the principal amount of Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on June 30, 2020) in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on September 30, 2021) in the principal amount of 2021 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021 Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Term Loans, all 2020 Incremental Term Loans and all 2021 Incremental Term Loans shall be due and payable by the Borrower on the Initial Term Loan Maturity Date.

Appears in 2 contracts

Samples: Credit Agreement (GoHealth, Inc.), The Credit Agreement (GoHealth, Inc.)

AutoNDA by SimpleDocs

Amortization of Term Loans. (a) The Subject to adjustment pursuant to paragraph (c) of this Section, the Borrower shall repay Initial Term Loan Borrowings Loans on the last Business Day day of each March, June, September and December (commencing on December 31, 2019) in the 2021), an aggregate principal amount equal to 0.25 times the aggregate principal amount of the Initial Term Loans outstanding on the Closing Date; provided that (i) if any such date is not a Business Day, such payment shall be due on the next Business Day and (ii) such payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.11(f) or, if applicable, Section 2.26 and as a result of the conversion of Initial Term Loans equal to one quarter Extended Term Loans or the refinancing of one percent (0.25%) Initial Term Loans with Refinancing Term Loans. Upon the conversion of Initial Term Loans to Extended Term Loans or the original refinancing of Initial Term Loans with Refinancing Term Loans, all amortization payments shall be reduced ratably by the aggregate principal amount of such the Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f)so converted or refinanced. The Borrower shall repay 2020 Incremental Additional Term Loan Borrowings Loans, Extended Term Loans and Refinancing Term Loans in such amounts and on the last Business Day of each March, June, September and December (commencing on June 30, 2020) such date or dates as shall be specified therefor in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent applicable Additional Credit Extension Amendment. (0.25%b) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on September 30, 2021) in the principal amount of 2021 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021 Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Term Loans, all 2020 Incremental Term Loans and all 2021 Incremental Term Loans of each Class shall be due and payable by the Borrower on the Initial Term Maturity Date for the Term Loans of such Class. (c) Each repayment of a Borrowing shall be applied ratably to the Loans included in the repaid Borrowing. Repayments of Term Loan Maturity Date.Borrowings shall be accompanied by accrued interest on the amount repaid. Section 2.11

Appears in 2 contracts

Samples: Credit Agreement (Virtus Investment Partners, Inc.), Credit Agreement (Virtus Investment Partners, Inc.)

Amortization of Term Loans. (a) The Subject to adjustment pursuant to paragraph (c) of this Section, the Borrower shall repay Initial to the Administrative Agent (i) for the ratable account of the Tranche A Term Loan Borrowings Lenders, (A) on the last Business Day of each March, June, September and December (December, commencing on December 31, 20192014 (the “Commencement Date”) in to the principal second anniversary of the Commencement Date, an aggregate amount equal to 1.25% of the aggregate amount of Initial all Tranche A Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made outstanding on the Restatement Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings (B) on the last Business Day of each March, June, September and December (commencing on June 30December, 2020) in from and including the principal second anniversary of the Commencement Date to the fourth anniversary of the Commencement Date, an aggregate amount equal to 1.875% of the aggregate amount of 2020 Incremental all Tranche A Term Loans equal to one quarter of one percent outstanding on the Restatement Effective Date, (0.25%C) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December December, from and including the fourth anniversary of the Commencement Date through and including the last quarterly installment date on or prior to the fifth anniversary of the Restatement Effective Date, an aggregate amount equal to 2.50% of the aggregate amount of all Tranche A Term Loans outstanding on the Restatement Effective Date, and (commencing D) on September 30the Tranche A Term Maturity Date, 2021) in the aggregate principal amount of 2021 Incremental all Tranche A Term Loans equal to one quarter of one percent outstanding on such date and (0.25%ii) for the ratable account of the original principal amount of such 2021 Incremental Tranche B Term Loans made pursuant to Amendment No. 5Lenders, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings (A) on the last Business Day of each March, June, September and December (December, commencing on March 31the Commencement Date, 2022an aggregate amount equal to 0.25% of the aggregate amount of all Tranche B Term Loans outstanding on the Restatement Effective Date and (B) in on the Tranche B Term Maturity Date, the aggregate principal amount of 2021-2 all Tranche B Term Loans outstanding on such date. The Borrower shall repay Incremental Term Loans equal of any Series in such amounts and on such date or dates as shall be specified therefor in the Incremental Facility Amendment establishing the Incremental Term Commitments of such Series (as such amount shall be adjusted pursuant to one quarter of one percent paragraph (0.25%c) of the original principal amount of such 2021-2 Incremental Term Loans made this Section or pursuant to Amendment No. 6, as adjusted from time to time pursuant to Section 2.11(fsuch Incremental Facility Amendment). To the extent not previously paid, all Initial Term Loans, all 2020 Incremental Term Loans and all 2021 Incremental Term Loans shall be due and payable by the Borrower on the Initial Term Loan Maturity Date.

Appears in 1 contract

Samples: First Lien Credit Agreement (Trinet Group Inc)

Amortization of Term Loans. (a) The Subject to adjustment pursuant to paragraph (c) of this Section 2.10, the Borrower shall repay Initial Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on December 31, 2019) in the principal amount of Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on June 30, 2020) in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day day of each March, June, September and December (commencing on September 30, 2021) in the equal quarterly instalments in aggregate principal amount of 2021 Incremental Term Loans amounts equal to one quarter of one percent (0.25%) % per annum of the original principal amount of the Initial Term Loans outstanding at the Closing Date; provided that if any such 2021 date is not a Business Day, such payment shall be due on the next preceding Business Day. In connection with any Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) that constitute part of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, same Class as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Term Loans, all 2020 the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Initial Term Loans comprising such Class continue to receive a payment that is not less than the same amount that such Term Lenders would have received absent the issuance of such Incremental Term Loans and all 2021 (i.e., the amortization percentage set forth in the immediately preceding sentence shall be automatically adjusted to reflect the Modified Amortization Percentage); provided, that if such Incremental Term Loans shall are to be due and payable by the Borrower on “fungible” with the Initial Term Loans, notwithstanding any other conditions specified in this Section 2.10(a), the amortization for such “fungible” Incremental Term Loans may provide for amortization based on the Modified Amortization Percentage to ensure that such Incremental Term Loans will be “fungible” with the Initial Term Loans; provided, further, that without the consent of any other Loan Maturity DateParty, Agent or Lender, the Borrower and the Administrative Agent may effect such amendments to the Agreement as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.10(a). The immediately preceding sentence of this Section 2.10(a) shall supersede any provision in Section 9.02 to the contrary.

Appears in 1 contract

Samples: Credit Agreement (Digital Media Solutions, Inc.)

Amortization of Term Loans. (a) The Borrower shall repay Initial Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on December 31, 2019) in the principal amount of Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on June 30, 2020) in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on September 30, 2021) in the principal amount of 2021 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021 Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Term Loans, all 2020 Incremental Term Loans and all 2021 Incremental Term Loans shall be due and payable by the Borrower on the Initial Term Loan Maturity Date.. (b) All repayment obligations under this Section 2.10 shall be reduced by the amount of any prepayments made in accordance with Section 2.11 in the manner specified therein. SECTION 2.11 Prepayment of Loans. 104 US-DOCS\115047431.4127573765.6

Appears in 1 contract

Samples: Credit Agreement and Incremental Facility Agreement (GoHealth, Inc.)

Amortization of Term Loans. 61. Subject to adjustment pursuant to paragraph (ac) The of this Section 2.10, the Borrower shall repay Initial Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on December 31, 2019) in the principal amount of Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on June 30, 2020) in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day day of each March, June, September and December (commencing on September 30, 2021) in the equal quarterly instalments in aggregate principal amount of 2021 Incremental Term Loans amounts equal to one quarter of one percent (0.25%) % per annum of the original principal amount of the Initial Term Loans outstanding at the Closing Date; provided that if any such 2021 date is not a Business Day, such payment shall be due on the next preceding Business Day. In connection with any Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) that constitute part of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, same Class as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Term Loans, all 2020 the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Initial Term Loans comprising such Class continue to receive a payment that is not less than the same amount that such Term Lenders would have received absent the issuance of such Incremental Term Loans and all 2021 (i.e., the amortization percentage set forth in the immediately preceding sentence shall be automatically adjusted to reflect the Modified Amortization Percentage); provided, that if such Incremental Term Loans shall are to be due and payable by the Borrower on “fungible” with the Initial Term Loans, notwithstanding any other conditions specified in this Section 2.10(a), the amortization for such “fungible” Incremental Term Loans may provide for amortization based on the Modified Amortization Percentage to ensure that such Incremental Term Loans will be “fungible” with the Initial Term Loans; provided, further, that without the AMERICAS 107083989 2036643.08-NYCSR03A - MSW consent of any other Loan Maturity DateParty, Agent or Lender, the Borrower and the Administrative Agent may effect such amendments to the Agreement as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.10(a). The immediately preceding sentence of this Section 2.10(a) shall supersede any provision in Section 9.02 to the contrary.

Appears in 1 contract

Samples: Credit Agreement (Digital Media Solutions, Inc.)

AutoNDA by SimpleDocs

Amortization of Term Loans. (a) The Borrower shall repay Initial Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on December 31, 2019) in the principal amount of Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on June 30, 2020) in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on September 30, 2021) in the principal amount of 2021 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021 Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Term Loans, all 2020 Incremental Term Loans and all 2021 Incremental Term Loans shall be due and payable by the Borrower on the Initial Term Loan Maturity Date. (b) All repayment obligations under this Section 2.10 shall be reduced by the amount of any prepayments made in accordance with Section 2.11 in the manner specified therein. Section 2.11.

Appears in 1 contract

Samples: Credit Agreement (GoHealth, Inc.)

Amortization of Term Loans. (a) The Subject to adjustment pursuant to paragraph (c) of this Section 2.10, the Borrower shall repay Initial Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on December 31, 2019) in the principal amount of Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on June 30, 2020) in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent (0.25%i) of the original aggregate outstanding principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings immediately after closing on the last Business Day of each March, June, September and December Effective Date multiplied by (commencing on September 30, 2021ii) in the principal amount of 2021 Incremental Term Loans equal to one quarter of one percent (0.25%. (b) of the original principal amount of such 2021 Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Term Loans, all 2020 Incremental Term Loans and all 2021 Incremental Term Loans shall be due and payable on the Term Maturity Date. (c) Any prepayment of a Term Loan Borrowing of any Class (i) pursuant to Section 2.11(a)(i) shall be applied to reduce the subsequent scheduled and outstanding repayments of the Term Loan Borrowings of such Class to be made pursuant to this Section as directed by the Borrower on (and absent such direction in direct order of maturity) and (ii) pursuant to Section 2.11(c) or Section 2.11(d) shall be applied to reduce the Initial subsequent scheduled and outstanding repayments of the Term Loan Maturity Date.Borrowings of such Class to be made pursuant to this Section, or, except as otherwise provided in any Refinancing Amendment or Loan Modification Offer, pursuant to the corresponding section of such Refinancing Amendment or Loan Modification Offer, as applicable, in direct order of maturity. (d) Prior to any repayment of any Term Loan Borrowings of any Class hereunder, the Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent in writing or by telephone (confirmed by hand delivery, facsimile or other electronic transmission) of such election not later than 2:00 p.m., New York City time, (x) in the case of Eurocurrency Loans, three Business Days before the scheduled date of such repayment and (y) in the case of ABR Loans, one Business Day before the scheduled date of such repayment. In the absence of a designation by the Borrower as described in the preceding sentence, the Administrative Agent shall make such designation in its reasonable discretion with a view, but no obligation, to minimize breakage costs owing under Section 2.16. Each repayment of a Borrowing shall be applied ratably to the -71- US-DOCS\114614260.17

Appears in 1 contract

Samples: Execution Version Credit Agreement (Cornerstone OnDemand Inc)

Amortization of Term Loans. (a) The Subject to adjustment pursuant to paragraph (c) of this Section, the Borrower shall repay Initial Term Loan Borrowings Loans on the last Business Day of each March, June, September and December (commencing on December 31, 2019) in the principal amount of Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such Initial Term Loans made on the Effective Date, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2020 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on June 30, 2020) in the principal amount of 2020 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2020 Incremental Term Loans made pursuant to Amendment No. 1, as adjusted from time to time pursuant to Section 2.11(f). The Borrower shall repay 2021 Incremental Term Loan Borrowings on the last Business Day day of each March, June, September and December (commencing on September 30, 20212017), an aggregate principal amount equal to the Initial Term Loan Amortization Amount; provided that (i) if any such date is not a Business Day, such payment shall be due on the next Business Day and (ii) such payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.11(f) or, if applicable, Section 2.26 and as a result of the conversion of Initial Term Loans to Extended Term Loans or the refinancing of Initial Term Loans with Refinancing Term Loans. Upon the conversion of Initial Term Loans to Extended Term Loans or the refinancing of Initial Term Loans with Refinancing Term Loans, all amortization payments shall be reduced ratably by the aggregate principal amount of 2021 Incremental the Initial Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021 Incremental Term Loans made pursuant to Amendment No. 5, as adjusted from time to time pursuant to Section 2.11(f)so converted or refinanced. The Borrower shall repay 2021-2 Incremental Term Loan Borrowings on the last Business Day of each March, June, September and December (commencing on March 31, 2022) in the principal amount of 2021-2 Incremental Term Loans equal to one quarter of one percent (0.25%) of the original principal amount of such 2021-2 Incremental Term Loans made pursuant to Amendment No. 6, as adjusted from time to time pursuant to Section 2.11(f). To the extent not previously paid, all Initial Additional Term Loans, all 2020 Incremental Extended Term Loans and all 2021 Incremental Refinancing Term Loans in such amounts and on such date or dates as shall be due and payable by specified therefor in the Borrower on the Initial Term Loan Maturity Dateapplicable Additional Credit Extension Amendment.

Appears in 1 contract

Samples: Credit Agreement (Virtus Investment Partners, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.