Amount and Nature of Credit. Loans may be made as --------------------------- Revolving Loans as follows: (a) Subject to the terms and conditions of this Agreement, during the Revolving Commitment Period, Lender shall make a Revolving Loan or Revolving Loans to Borrower in such amount or amounts as Borrower may from time to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the Total Commitment Amount. Borrower has the option, subject to the terms and conditions set forth herein, to borrow Revolving Loans, maturing on the last day of the Revolving Commitment Period, by means of any combination of Base Rate Loans and/or LIBOR Loans. (b) Borrower shall pay interest on the unpaid principal amount of Base Rate Loans outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Base Rate Loans shall be payable monthly in arrears on the last Business Day of each calendar month and at the maturity thereof. (c) Borrower shall pay interest on the unpaid principal amount of each LIBOR Loan outstanding from time to time, from the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, fixed in advance for each Interest Period (but subject to changes in the Applicable Margin). Interest on such LIBOR Loans shall be at the Derived LIBO Rate, as calculated on the first day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), and shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three months, the interest must be paid every three months, commencing three months from the beginning of such Interest Period). (d) At the request of Borrower, subject to the notice and other provisions of Section 2.2, Lender shall convert Base Rate Loans to LIBOR Loans at any time and shall convert LIBOR Loans to Base Rate Loans on any Interest Adjustment Date. (e) The obligation of Borrower to repay the Base Rate Loans and LIBOR Loans made by Lender and to pay interest thereon shall be evidenced by a Revolving Credit Note of Borrower in the form of Exhibit A. Subject to the provisions of this Agreement, Borrower shall be entitled under this Section 2.1 to borrow funds, repay the same in whole or in part and re-borrow hereunder at any time and from time to time during the Revolving Commitment Period.
Appears in 1 contract
Amount and Nature of Credit. Loans may be made as --------------------------- Revolving Loans as follows:
(a) Subject to the terms and conditions of this Agreement, during each Bank, for itself and not one for any other, agrees to participate in Loans made hereunder on the Revolving Commitment Period, Lender shall make a Revolving Loan or Revolving Loans to Borrower in such amount or amounts as Borrower may from time to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the Total Commitment AmountClosing Date. Borrower has shall have the option, subject option to the terms and conditions set forth herein, to borrow Revolving Loans, maturing on the last day of the Revolving Commitment Period, by means of choose any combination of (a) Base Rate Loans and/or LIBOR Loans.
, or (b) Euro Loans. No Loans may be borrowed after August 31, 2013. Borrower shall be entitled to repay Loans in whole or in part, but once repaid a Loan may not be re-borrowed. The obligation of each Bank to make Loans to the Borrower shall be in the proportion that such Bank’s Commitment bears to the Commitments of all Banks to the Borrower, but each Bank’s Loan to the Borrower shall never exceed its Commitment. The failure of any Bank to make a Loan shall not relieve any other Bank of its obligations to make a Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Loans hereunder after the Closing Date. The Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01. The Loans shall be due and payable in full on the Maturity Date. Borrower shall pay interest on the unpaid principal amount of Base Rate Loans made to it outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Base Rate Loans shall be payable monthly in arrears on the last Business Day day of each calendar month June, September, December and March of each year and at the maturity thereof.
(c) . Borrower shall pay interest on the unpaid principal amount of each LIBOR Euro Loan made to it outstanding from time to time, from fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, fixed in advance for each Interest Period (but subject to changes in the Applicable Margin). Interest on such LIBOR Loans shall be at the Derived LIBO Rate, as calculated on the first day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), and at the Derived Euro Rate. Interest on such Euro Loans shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(d) . At the request of BorrowerBorrower to Agent, subject to the notice and other provisions of Section 2.22.02 hereof, Lender the Banks shall convert outstanding Base Rate Loans to LIBOR Euro Loans at any time and shall convert LIBOR outstanding Euro Loans to Base Rate Loans on any Interest Adjustment Date.
(e) . The obligation of Borrower to repay the Base Rate Loans and LIBOR Loans made to it by Lender each Bank pursuant to this Section 2.01 and to pay interest thereon shall be evidenced by a Revolving Credit Note of Borrower in the form of Exhibit A. Subject A hereto, payable to the provisions order of this Agreement, Borrower shall be entitled under this Section 2.1 to borrow funds, repay such Bank in the same in whole or in part and re-borrow hereunder at any time and from time to time during the Revolving Commitment Periodprincipal amount of its Commitment.
Appears in 1 contract
Amount and Nature of Credit. Loans may be made as --------------------------- Revolving Loans as follows:
(a) Subject to the terms and conditions of this Agreement, during each Five Year Term Loan Lender, for itself and not one for any other, agrees to make the Revolving Commitment PeriodFive Year Term Loans hereunder on the Closing Date.
(i) Borrower shall have the option to choose any combination of (a) Five Year Base Rate Term Loans, or (b) Five Year Eurodollar Term Loans. No Five Year Term Loans may be borrowed until the Closing Date and no Five Year Term Loans may be borrowed after the Closing Date. Borrower shall be entitled to repay Five Year Term Loans in whole or in part, but once repaid a Five Year Term Loan may not be re-borrowed.
(ii) The obligation of each Five Year Term Loan Lender shall to make a Revolving Loan or Revolving Five Year Term Loans to Borrower shall be in the proportion that such amount or amounts as Borrower may from time Five Year Term Loan Lender’s Commitment bears to time requestthe Five Year Term Loan Commitments of all Five Year Term Loan Lenders to Borrower, but each Five Year Term Loan Lender’s Five Year Term Loan to Borrower shall never exceed its Five Year Term Loan Commitment. The failure of any Five Year Term Loan Lender to make a Five Year Term Loan shall not exceeding in aggregate principal amount at relieve any time outstanding other Five Year Term Loan Lender of its obligations to make a Five Year Term Loan nor shall it impose any additional liability on any other Five Year Term Loan Lender hereunder. The Five Year Term Loan Lenders shall have no obligation to make Five Year Term Loans hereunder until the Total Commitment AmountClosing Date. The Five Year Term Loan Lenders shall have no obligation to make Five Year Term Loan Loans hereunder after the Closing Date. The Five Year Term Loan Commitments are not revolving credit commitments, and Borrower has shall not have the optionright to borrow, subject to the terms repay and conditions set forth herein, to borrow Revolving Loans, maturing reborrow under this Section 2.01(a). The Five Year Term Loans shall be due and payable on the last day of the Revolving Commitment Period, by means of any combination of Base Rate Loans and/or LIBOR LoansFive Year Term Loan Maturity Date.
(biii) Borrower shall pay interest on the unpaid principal amount of Five Year Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Five Year Base Rate Term Loans shall be payable monthly in arrears on the last Business Day day of each calendar month September, December, March and June of each year and at the maturity thereof.
(civ) Borrower shall pay interest on the unpaid principal amount of each LIBOR Five Year Eurodollar Term Loan made to it outstanding from time to time, from fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, fixed in advance for each Interest Period thereto (but subject to changes in the Applicable Margin), at the Derived Eurodollar Rate. Interest on such LIBOR Five Year Eurodollar Term Loans shall be payable on each Interest Adjustment Date (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(v) At the request of Borrower to Agent, subject to the notice and other provisions of Section 2.02 hereof, the Five Year Term Loan Lenders shall convert outstanding Five Year Base Rate Term Loans to Five Year Base Rate Eurodollar Term Loans at any time and shall convert outstanding Five Year Eurodollar Term Loans to Five Year Base Rate Term Loans on any Interest Adjustment Date.
(vi) The obligation of Borrower to repay Five Year Term Loans made to it by a Five Year Term Loan Lender pursuant to this Section 2.01(a) and to pay interest thereon may, upon the request by such Five Year Term Loan Lender, be evidenced by a single Five Year Term Loan Note of Borrower in the form of Exhibit A hereto (each such note, a “Five Year Term Loan Note”), payable to such Five Year Term Loan Lender in the principal amount of its Five Year Term Loan Commitment.
(b) Subject to the terms and conditions of this Agreement, each Three Year Term Loan Lender, for itself and not one for any other, agrees to make the Three Year Term Loans hereunder on the Closing Date.
(i) Borrower shall have the option to choose any combination of (a) Three Year Base Rate Term Loans, or (b) Three Year Eurodollar Term Loans. No Three Year Term Loans may be borrowed until the Closing Date and no Three Year Term Loans may be borrowed after the Closing Date. Borrower shall be entitled to repay Three Year Term Loans in whole or in part, but once repaid a Three Year Term Loan may not be re-borrowed.
(ii) The obligation of each Three Year Term Loan Lender to make Three Year Term Loans to Borrower shall be in the proportion that such Three Year Term Loan Lender’s Commitment bears to the Three Year Term Loan Commitments of all Three Year Term Loan Lenders to Borrower, but each Three Year Term Loan Lender’s Three Year Term Loan to Borrower shall never exceed its Three Year Term Loan Commitment. The failure of any Three Year Term Loan Lender to make a Three Year Term Loan shall not relieve any other Three Year Term Loan Lender of its obligations to make a Three Year Term Loan nor shall it impose any additional liability on any other Three Year Term Loan Lender hereunder. The Three Year Term Loan Lenders shall have no obligation to make Three Year Term Loan Loans hereunder until the Closing Date. The Three Year Term Loan Lenders shall have no obligation to make Three Year Term Loans hereunder after the Closing Date. The Three Year Term Loan Commitments are not revolving credit commitments, and Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(b). The Three Year Term Loans shall be due and payable on the Three Year Term Loan Maturity Date.
(iii) Borrower shall pay interest on the unpaid principal amount of Three Year Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Derived LIBO RateBase Rate from time to time in effect. Interest on such Three Year Base Rate Term Loans shall be payable on the last day of each September, as calculated December, March and June of each year and at the maturity thereof.
(iv) Borrower shall pay interest on the unpaid principal amount of each Three Year Eurodollar Term Loan made to it outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), and at the Derived Eurodollar Rate. Interest on such Three Year Eurodollar Term Loans shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(dv) At the request of BorrowerBorrower to Agent, subject to the notice and other provisions of Section 2.22.02 hereof, Lender the Three Year Term Loan Lenders shall convert outstanding Three Year Base Rate Term Loans to LIBOR Three Year Base Rate Eurodollar Term Loans at any time and shall convert LIBOR outstanding Three Year Eurodollar Term Loans to Three Year Base Rate Term Loans on any Interest Adjustment Date.
(evi) The obligation of Borrower to repay the Base Rate Loans and LIBOR Three Year Term Loans made to it by a Three Year Term Loan Lender pursuant to this Section 2.01(b) and to pay interest thereon shall may, upon the request by such Three Year Term Loan Lender, be evidenced by a Revolving Credit single Three Year Term Loan Note of Borrower in the form of Exhibit A. B hereto (each such note, a “Three Year Term Loan Note”), payable to such Three Year Term Loan Lender in the principal amount of its Three Year Term Loan Commitment.
(c) Subject to the provisions terms and conditions of this Agreement, each Eighteen Month Term Loan Lender, for itself and not one for any other, agrees to make the Eighteen Month Term Loans hereunder on the Closing Date.
(i) Borrower shall have the option to choose any combination of (a) Eighteen Month Base Rate Term Loans, or (b) Eighteen Month Eurodollar Term Loans. No Eighteen Month Term Loans may be borrowed until the Closing Date and no Eighteen Month Term Loans may be borrowed after the Closing Date. Borrower shall be entitled under this Section 2.1 to borrow funds, repay the same Eighteen Month Term Loans in whole or in part and part, but once repaid a Eighteen Month Term Loan may not be re-borrow borrowed.
(ii) The obligation of each Eighteen Month Term Loan Lender to make Eighteen Month Term Loans to Borrower shall be in the proportion that such Eighteen Month Term Loan Lender’s Commitment bears to the Eighteen Month Term Loan Commitments of all Eighteen Month Term Loan Lenders to Borrower, but each Eighteen Month Term Loan Lender’s Eighteen Month Term Loan to Borrower shall never exceed its Eighteen Month Term Loan Commitment. The failure of any Eighteen Month Term Loan Lender to make a Eighteen Month Term Loan shall not relieve any other Eighteen Month Term Loan Lender of its obligations to make a Eighteen Month Term Loan nor shall it impose any additional liability on any other Eighteen Month Term Loan Lender hereunder. The Eighteen Month Term Loan Lenders shall have no obligation to make Eighteen Month Term Loans hereunder until the Closing Date. The Eighteen Month Term Loan Lenders shall have no obligation to make Eighteen Month Term Loan Loans hereunder after the Closing Date. The Eighteen Month Term Loan Commitments are not revolving credit commitments, and Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(c). The Eighteen Month Term Loans shall be due and payable on the Eighteen Month Term Loan Maturity Date.
(iii) Borrower shall pay interest on the unpaid principal amount of Eighteen Month Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Base Rate from time to time in effect. Interest on such Eighteen Month Base Rate Term Loans shall be payable on the last day of each September, December, March and June of each year and at the maturity thereof.
(iv) Borrower shall pay interest on the unpaid principal amount of each Eighteen Month Eurodollar Term Loan made to it outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), at the Derived Eurodollar Rate. Interest on such Eighteen Month Eurodollar Term Loans shall be payable on each Interest Adjustment Date (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(v) At the request of Borrower to Agent, subject to the notice and other provisions of Section 2.02 hereof, the Eighteen Month Term Loan Lenders shall convert outstanding Eighteen Month Base Rate Term Loans to Eighteen Month Base Rate Eurodollar Term Loans at any time and from time shall convert outstanding Eighteen Month Eurodollar Term Loans to time during Eighteen Month Base Rate Term Loans on any Interest Adjustment Date.
(vi) The obligation of Borrower to repay Eighteen Month Term Loans made to it by a Eighteen Month Term Loan Lender pursuant to this Section 2.01(c) and to pay interest thereon may, upon the Revolving Commitment Periodrequest by such Eighteen Month Term Loan Lender, be evidenced by a single Eighteen Month Term Loan Note of Borrower in the form of Exhibit C hereto (each such note, a “Eighteen Month Term Loan Note”), payable to such Eighteen Month Term Loan Lender in the principal amount of its Eighteen Month Term Loan Commitment.
Appears in 1 contract
Samples: Term Loan Agreement (Nordson Corp)
Amount and Nature of Credit. Loans may be made as --------------------------- Revolving Loans as follows:
(a) Subject to the terms and conditions of this Agreement, during each Five Year Term Loan Lender, for itself and not one for any other, agrees to make the Revolving Commitment PeriodFive Year Term Loans hereunder on the Effective Date.
(i) Borrower shall have the option to choose any combination of (a) Five Year Base Rate Term Loans, or (b) Five Year Eurodollar Term Loans. No Five Year Term Loans may be borrowed until the Effective Date and no Five Year Term Loans may be borrowed after the Effective Date. Borrower shall be entitled to repay Five Year Term Loans in whole or in part, but once repaid a Five Year Term Loan may not be re-borrowed.
(ii) The obligation of each Five Year Term Loan Lender shall to make a Revolving Loan or Revolving Five Year Term Loans to Borrower shall be in the proportion that such amount or amounts as Borrower may from time Five Year Term Loan Lender’s Commitment bears to time requestthe Five Year Term Loan Commitments of all Five Year Term Loan Lenders to Borrower, but each Five Year Term Loan Lender’s Five Year Term Loan to Borrower shall never exceed its Five Year Term Loan Commitment. The failure of any Five Year Term Loan Lender to make a Five Year Term Loan shall not exceeding in aggregate principal amount at relieve any time outstanding other Five Year Term Loan Lender of its obligations to make a Five Year Term Loan nor shall it impose any additional liability on any other Five Year Term Loan Lender hereunder. The Five Year Term Loan Lenders shall have no obligation to make Five Year Term Loans hereunder until the Total Commitment AmountEffective Date. The Five Year Term Loan Lenders shall have no obligation to make Five Year Term Loan Loans hereunder after the Effective Date. The Five Year Term Loan Commitments are not revolving credit commitments, and Borrower has shall not have the optionright to borrow, subject to the terms repay and conditions set forth herein, to borrow Revolving Loans, maturing reborrow under this Section 2.01(a). The Five Year Term Loans shall be due and payable on the last day of the Revolving Commitment Period, by means of any combination of Base Rate Loans and/or LIBOR LoansFive Year Term Loan Maturity Date.
(biii) Borrower shall pay interest on the unpaid principal amount of Five Year Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Five Year Base Rate Term Loans shall be payable monthly in arrears on the last Business Day day of each calendar month September, December, March and June of each year and at the maturity thereof.
(civ) Borrower shall pay interest on the unpaid principal amount of each LIBOR Five Year Eurodollar Term Loan made to it outstanding from time to time, from fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, fixed in advance for each Interest Period thereto (but subject to changes in the Applicable Margin), at the Derived Eurodollar Rate. Interest on such LIBOR Five Year Eurodollar Term Loans shall be payable on each Interest Adjustment Date (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(v) At the request of Borrower to Agent, subject to the notice and other provisions of Section 2.02 hereof, the Five Year Term Loan Lenders shall convert outstanding Five Year Base Rate Term Loans to Five Year Base Rate Eurodollar Term Loans at any time and shall convert outstanding Five Year Eurodollar Term Loans to Five Year Base Rate Term Loans on any Interest Adjustment Date.
(vi) The obligation of Borrower to repay Five Year Term Loans made to it by a Five Year Term Loan Lender pursuant to this Section 2.01(a) and to pay interest thereon may, upon the request by such Five Year Term Loan Lender, be evidenced by a single Five Year Term Loan Note of Borrower in the form of Exhibit A hereto (each such note, a “Five Year Term Loan Note”), payable to such Five Year Term Loan Lender in the principal amount of its Five Year Term Loan Commitment.
(b) Subject to the terms and conditions of this Agreement, each Three Year Term Loan Lender, for itself and not one for any other, agrees to make the Three Year Term Loans hereunder on the Effective Date.
(i) Borrower shall have the option to choose any combination of (a) Three Year Base Rate Term Loans, or (b) Three Year Eurodollar Term Loans. No Three Year Term Loans may be borrowed until the Effective Date and no Three Year Term Loans may be borrowed after the Effective Date. Borrower shall be entitled to repay Three Year Term Loans in whole or in part, but once repaid a Three Year Term Loan may not be re-borrowed.
(ii) The obligation of each Three Year Term Loan Lender to make Three Year Term Loans to Borrower shall be in the proportion that such Three Year Term Loan Lender’s Commitment bears to the Three Year Term Loan Commitments of all Three Year Term Loan Lenders to Borrower, but each Three Year Term Loan Lender’s Three Year Term Loan to Borrower shall never exceed its Three Year Term Loan Commitment. The failure of any Three Year Term Loan Lender to make a Three Year Term Loan shall not relieve any other Three Year Term Loan Lender of its obligations to make a Three Year Term Loan nor shall it impose any additional liability on any other Three Year Term Loan Lender hereunder. The Three Year Term Loan Lenders shall have no obligation to make Three Year Term Loan Loans hereunder until the Effective Date. The Three Year Term Loan Lenders shall have no obligation to make Three Year Term Loans hereunder after the Effective Date. The Three Year Term Loan Commitments are not revolving credit commitments, and Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(b). The Three Year Term Loans shall be due and payable on the Three Year Term Loan Maturity Date.
(iii) Borrower shall pay interest on the unpaid principal amount of Three Year Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Derived LIBO RateBase Rate from time to time in effect. Interest on such Three Year Base Rate Term Loans shall be payable on the last day of each September, as calculated December, March and June of each year and at the maturity thereof.
(iv) Borrower shall pay interest on the unpaid principal amount of each Three Year Eurodollar Term Loan made to it outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), and at the Derived Eurodollar Rate. Interest on such Three Year Eurodollar Term Loans shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(dv) At the request of BorrowerBorrower to Agent, subject to the notice and other provisions of Section 2.2Section 2.02 hereof, Lender the Three Year Term Loan Lenders shall convert outstanding Three Year Base Rate Term Loans to LIBOR Three Year Base Rate Eurodollar Term Loans at any time and shall convert LIBOR outstanding Three Year Eurodollar Term Loans to Three Year Base Rate Term Loans on any Interest Adjustment Date.
(evi) The obligation of Borrower to repay the Base Rate Loans and LIBOR Three Year Term Loans made to it by a Three Year Term Loan Lender pursuant to this Section 2.01(b) and to pay interest thereon shall may, upon the request by such Three Year Term Loan Lender, be evidenced by a Revolving Credit single Three Year Term Loan Note of Borrower in the form of Exhibit A. Subject B hereto (each such note, a “Three Year Term Loan Note”), payable to such Three Year Term Loan Lender in the provisions principal amount of this Agreement, Borrower shall be entitled under this Section 2.1 to borrow funds, repay the same in whole or in part and re-borrow hereunder at any time and from time to time during the Revolving Commitment Periodits Three Year Term Loan Commitment.
Appears in 1 contract
Samples: Term Loan Agreement (Nordson Corp)
Amount and Nature of Credit. Loans may be made as --------------------------- Revolving Loans as follows:
(a) Subject to the terms and conditions of this the Existing Term Loan Agreement, during each March 2024 Term Loan Lender, for itself and not one for any other, made the Revolving Commitment Period, Lender March 2024 Term Loans on the Closing Date and shall make a Revolving hold and continue such Loan or Revolving Loans to Borrower in such amount or amounts as Borrower may from time to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the Total Commitment Amount. Borrower has the option, subject to the terms and conditions set forth herein, .
(i) Borrower shall have the option to borrow Revolving Loans, maturing on the last day of the Revolving Commitment Period, by means of choose any combination of (a) March 2024 Base Rate Term Loans, or (b) March 2024 Eurodollar Term Loans. Borrower shall be entitled to repay March 2024 Term Loans and/or LIBOR Loansin whole or in part, but once repaid a March 2024 Term Loan may not be re-borrowed.
(bii) The obligation of each March 2024 Term Loan Lender to hold and continue March 2024 Term Loans shall be in the proportion that such March 2024 Term Loan Lender’s Commitment bears to the March 2024 Term Loan Commitments of all March 2024 Term Loan Lenders to Borrower, but each March 2024 Term Loan Lender’s March 2024 Term Loan to Borrower shall never exceed its March 2024 Term Loan Commitment. The failure of any March 2024 Term Loan Lender to hold and continue a March 2024 Term Loan shall not relieve any other March 2024 Term Loan Lender of its obligations to hold and continue a March 2024 Term Loan nor shall it impose any additional liability on any other March 2024 Term Loan Lender hereunder. The March 2024 Term Loan Commitments are not revolving credit commitments, and Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(a). The March 2024 Term Loans shall be due and payable on the March 2024 Term Loan Maturity Date.
(iii) Borrower shall pay interest on the unpaid principal amount of March 2024 Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such March 2024 Base Rate Term Loans shall be payable monthly in arrears on the last Business Day day of each calendar month September, December, March and June of each year and at the maturity thereof.
(civ) Borrower shall pay interest on the unpaid principal amount of each LIBOR March 2024 Eurodollar Term Loan made to it outstanding from time to time, from fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, fixed in advance for each Interest Period thereto (but subject to changes in the Applicable Margin), at the Derived Eurodollar Rate. Interest on such LIBOR March 2024 Eurodollar Term Loans shall be payable on each Interest Adjustment Date (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(v) At the request of Borrower to Agent, subject to the notice and other provisions of Section 2.02 hereof, the March 2024 Term Loan Lenders shall convert outstanding March 2024 Base Rate Term Loans to March 2024 Base Rate Eurodollar Term Loans at any time and shall convert outstanding March 2024 Eurodollar Term Loans to March 2024 Base Rate Term Loans on any Interest Adjustment Date.
(vi) The obligation of Borrower to repay March 2024 Term Loans made to it by a March 2024 Term Loan Lender and to pay interest thereon may, upon the request by such March 2024 Term Loan Lender, be evidenced by a single March 2024 Term Loan Note of Borrower in the form of Exhibit A hereto (each such note, a “March 2024 Term Loan Note”), payable to such March 2024 Term Loan Lender in the principal amount of its March 2024 Term Loan Commitment.
(b) Subject to the terms and conditions of the Existing Term Loan Agreement, each March 2020 Term Loan Lender, for itself and not one for any other, made the March 2020 Term Loans on the Closing Date and shall hold and continue such Loan subject to the terms and conditions herein.
(i) Borrower shall have the option to choose any combination of (a) March 2020 Base Rate Term Loans, or (b) March 2020 Eurodollar Term Loans. Borrower shall be entitled to repay March 2020 Term Loans in whole or in part, but once repaid a March 2020 Term Loan may not be re-borrowed.
(ii) The obligation of each March 2020 Term Loan Lender to hold and continue March 2020 Term Loans shall be in the proportion that such March 2020 Term Loan Lender’s Commitment bears to the March 2020 Term Loan Commitments of all March 2020 Term Loan Lenders to Borrower, but each March 2020 Term Loan Lender’s March 2020 Term Loan to Borrower shall never exceed its March 2020 Term Loan Commitment. The failure of any March 2020 Term Loan Lender to hold and continue a March 2020 Term Loan shall not relieve any other March 2020 Term Loan Lender of its obligations to hold and continue a March 2020 Term Loan nor shall it impose any additional liability on any other March 2020 Term Loan Lender hereunder. The March 2020 Term Loan Commitments are not revolving credit commitments, and Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(b). The March 2020 Term Loans shall be due and payable on the March 2020 Term Loan Maturity Date.
(iii) Borrower shall pay interest on the unpaid principal amount of March 2020 Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Derived LIBO RateBase Rate from time to time in effect. Interest on such March 2020 Base Rate Term Loans shall be payable on the last day of each September, as calculated December, March and June of each year and at the maturity thereof.
(iv) Borrower shall pay interest on the unpaid principal amount of each March 2020 Eurodollar Term Loan made to it outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), and at the Derived Eurodollar Rate. Interest on such March 2020 Eurodollar Term Loans shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(dv) At the request of BorrowerBorrower to Agent, subject to the notice and other provisions of Section 2.22.02 hereof, Lender the March 2020 Term Loan Lenders shall convert outstanding March 2020 Base Rate Term Loans to LIBOR March 2020 Base Rate Eurodollar Term Loans at any time and shall convert LIBOR outstanding March 2020 Eurodollar Term Loans to March 2020 Base Rate Term Loans on any Interest Adjustment Date.
(evi) The obligation of Borrower to repay the Base Rate Loans and LIBOR March 2020 Term Loans made to it by a March 2020 Term Loan Lender and to pay interest thereon shall may, upon the request by such March 2020 Term Loan Lender, be evidenced by a Revolving Credit single March 2020 Term Loan Note of Borrower in the form of Exhibit A. B hereto (each such note, a “March 2020 Term Loan Note”), payable to such March 2020 Term Loan Lender in the principal amount of its March 2020 Term Loan Commitment.
(c) Subject to the provisions terms and conditions of this the Existing Term Loan Agreement, each September 2022 Term Loan Lender, for itself and not one for any other, made the September 2022 Term Loans on the Closing Date and shall hold and continue such Loan subject to the terms and conditions herein.
(i) Borrower shall have the option to choose any combination of (a) September 2022 Base Rate Term Loans, or (b) September 2022 Eurodollar Term Loans. Borrower shall be entitled under this Section 2.1 to borrow funds, repay the same September 2022 Term Loans in whole or in part and part, but once repaid a September 2022 Term Loan may not be re-borrow hereunder borrowed.
(ii) The obligation of each September 2022 Term Loan Lender to hold and continue September 2022 Term Loans shall be in the proportion that such September 2022 Term Loan Lender’s Commitment bears to the September 2022 Term Loan Commitments of all September 2022 Term Loan Lenders to Borrower, but each September 2022 Term Loan Lender’s September 2022 Term Loan to Borrower shall never exceed its September 2022 Term Loan Commitment. The failure of any September 2022 Term Loan Lender to hold and continue a September 2022 Term Loan shall not relieve any other September 2022 Term Loan Lender of its obligations to hold and continue a September 2022 Term Loan nor shall it impose any additional liability on any other September 2022 Term Loan Lender hereunder. The September 2022 Term Loan Commitments are not revolving credit commitments, and Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(c). The September 2022 Term Loans shall be due and payable on the September 2022 Term Loan Maturity Date.
(iii) Borrower shall pay interest on the unpaid principal amount of September 2022 Base Rate Term Loans made to it outstanding from time to time from the date thereof until paid at the Base Rate from time to time in effect. Interest on such September 2022 Base Rate Term Loans shall be payable on the last day of each September, December, March and June of each year and at the maturity thereof.
(iv) Borrower shall pay interest on the unpaid principal amount of each September 2022 Eurodollar Term Loan made to it outstanding from time to time, fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), at the Derived Eurodollar Rate. Interest on such September 2022 Eurodollar Term Loans shall be payable on each Interest Adjustment Date (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(v) At the request of Borrower to Agent, subject to the notice and other provisions of Section 2.02 hereof, the September 2022 Term Loan Lenders shall convert outstanding September 2022 Base Rate Term Loans to September 2022 Base Rate Eurodollar Term Loans at any time and from time shall convert outstanding September 2022 Eurodollar Term Loans to time during September 2022 Base Rate Term Loans on any Interest Adjustment Date.
(vi) The obligation of Borrower to repay September 2022 Term Loans made to it by a September 2022 Term Loan Lender and to pay interest thereon may, upon the Revolving Commitment Periodrequest by such September 2022 Term Loan Lender, be evidenced by a single September 2022 Term Loan Note of Borrower in the form of Exhibit C hereto (each such note, a “September 2022 Term Loan Note”), payable to such September 2022 Term Loan Lender in the principal amount of its September 2022 Term Loan Commitment.
Appears in 1 contract
Samples: Term Loan Agreement (Nordson Corp)
Amount and Nature of Credit. Loans may be made as --------------------------- Revolving Loans as follows:
(a) Subject to the terms and conditions of this Agreement, during the Revolving Commitment Periodeach Lender, Lender shall for itself and not one for any other, agrees to make a Revolving term loan in Dollars to either or both Borrowers hereunder (“Term Loan (Dollars)”).
(i) Such Borrower shall have the option to choose any combination of (a) Base Rate Loans, or Revolving (b) Term SOFR Rate Loans. No Term Loans (Dollars) may be borrowed after the Availability Period. Such Borrower shall be entitled to repay Term Loans (Dollars) in whole or in part, but once repaid a Term Loan (Dollars) may not be re-borrowed. Any Borrower shall be permitted to borrow a Term Loan (Dollars) provided that such Borrower shall not also borrow a Term Loan (Euros).
(ii) The obligation of each Lender to make Term Loans (Dollars) to such Borrower shall be in the proportion that such Lender’s Commitment bears to the Commitments of all Lenders, but each Lender’s Term Loan (Dollars) (plus each Lender’s Term Loan (Euros)) shall never exceed the Dollar Equivalent of its Commitment. The failure of any Lender to make a Term Loan (Dollars) shall not relieve any other Lender of its obligations to make a Term Loan (Dollars) nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make Term Loans (Dollars) hereunder after the Availability Period. The Commitments are not revolving credit commitments, and such Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(a). The Term Loans (Dollars) shall be due and payable on the Maturity Date.
(iii) The obligation of such Borrower to repay Term Loans (Dollars) made to it by Lenders pursuant to this Section 2.01(a) and to pay interest thereon may, upon the request by such Lender, be evidenced by a single Term Loan Note of such Borrower in the form of Exhibit A hereto (each such amount or amounts as Borrower may from time note, a “Term Loan Note (Dollars)”), payable to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the Total Commitment Amount. Borrower has the option, subject such Lender.
(b) Subject to the terms and conditions set forth hereinof this Agreement, each Lender, for itself and not one for any other, agrees to make a term loan in the Alterative Currency to either or both Borrowers hereunder (“Term Loan (Euros)”).
(i) All Term Loans (Euros) shall be Eurocurrency Rate Loans. No Term Loans (Euros) may be borrowed after the Availability Period. Such Borrower shall be entitled to repay Term Loans (Euros) in whole or in part, but once repaid a Term Loan (Euros) may not be re-borrowed. Any Borrower shall be permitted to borrow Revolving Loansa Term Loan (Euros); provided that such Borrower shall not also borrow a Term Loan (Dollars).
(ii) The obligation of each Lender to make Term Loans (Euros) to such Borrower shall be in the proportion that such Lender’s Commitment bears to the Commitments of all Lenders, maturing but each Lender’s Term Loans (Euros) (plus each Lender’s Term Loan (Dollars)) shall never exceed the Dollar Equivalent of its Commitment. The failure of any Lender to make a Term Loan (Euros) shall not relieve any other Lender of its obligations to make a Term Loan (Euros) nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make Term Loans (Euros) hereunder after the Availability Period. The Commitments are not revolving credit commitments, and such Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01(b). The Term Loans (Euros) shall be due and payable on the Maturity Date.
(iii) The obligation of such Borrower to repay Term Loans (Euros) made to it by Lenders pursuant to this Section 2.01(b) and to pay interest thereon may, upon the request by such Xxxxxx, be evidenced by a single Term Loan Note of such Borrower in the form of Exhibit B hereto (each such note, a “Term Loan Note (Euros)”), payable to such Lender.
(c) The aggregate Commitments shall be automatically and permanently reduced to zero upon the borrowing of any Loans hereunder, and any remaining unfunded Commitments shall be automatically and permanently reduced to zero on the last day of the Revolving Commitment Period, by means of any combination of Base Rate Loans and/or LIBOR Loans.
(b) Borrower shall pay interest on the unpaid principal amount of Base Rate Loans outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Base Rate Loans shall be payable monthly in arrears on the last Business Day of each calendar month and at the maturity thereof.
(c) Borrower shall pay interest on the unpaid principal amount of each LIBOR Loan outstanding from time to time, from the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, fixed in advance for each Interest Period (but subject to changes in the Applicable Margin). Interest on such LIBOR Loans shall be at the Derived LIBO Rate, as calculated on the first day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), and shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three months, the interest must be paid every three months, commencing three months from the beginning of such Interest Period).
(d) At the request of Borrower, subject to the notice and other provisions of Section 2.2, Lender shall convert Base Rate Loans to LIBOR Loans at any time and shall convert LIBOR Loans to Base Rate Loans on any Interest Adjustment Date.
(e) The obligation of Borrower to repay the Base Rate Loans and LIBOR Loans made by Lender and to pay interest thereon shall be evidenced by a Revolving Credit Note of Borrower in the form of Exhibit A. Subject to the provisions of this Agreement, Borrower shall be entitled under this Section 2.1 to borrow funds, repay the same in whole or in part and re-borrow hereunder at any time and from time to time during the Revolving Commitment Availability Period.
Appears in 1 contract
Samples: Term Loan Agreement (Nordson Corp)
Amount and Nature of Credit. Loans may be made as --------------------------- Revolving Loans as follows:
(a) Subject to the terms and conditions of this Agreement, during each Bank, for itself and not one for any other, agrees to participate in Loans made hereunder on the Revolving Commitment Period, Lender shall make a Revolving Loan or Revolving Loans to Borrower in such amount or amounts as Borrower may from time to time request, but not exceeding in aggregate principal amount at any time outstanding hereunder the Total Commitment AmountEffective Date. Borrower has shall have the option, subject option to the terms and conditions set forth herein, to borrow Revolving Loans, maturing on the last day of the Revolving Commitment Period, by means of choose any combination of (a) Base Rate Loans and/or LIBOR Loans.
, or (b) Eurodollar Loans. No Loans may be borrowed until the Effective Date and no Loans may be borrowed after the Effective Date. Borrower shall be entitled to repay Loans in whole or in part, but once repaid a Loan may not be re-borrowed. The obligation of each Bank to make Loans to the Borrower shall be in the proportion that such Bank’s Commitment bears to the Commitments of all Banks to the Borrower, but each Bank’s Loan to the Borrower shall never exceed its Commitment. The failure of any Bank to make a Loan shall not relieve any other Bank of its obligations to make a Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Loans hereunder until the Effective Date. The Banks shall have no obligation to make Loans hereunder after the Effective Date. The Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under this Section 2.01. The Loans shall be due and payable on the Maturity Date. Borrower shall pay interest on the unpaid principal amount of Base Rate Loans made to it outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Base Rate Loans shall be payable monthly in arrears on the last Business Day day of each calendar month September, December, March and June of each year and at the maturity thereof.
(c) . Borrower shall pay interest on the unpaid principal amount of each LIBOR Eurodollar Loan made to it outstanding from time to time, from fixed in advance on the first day of the Interest Period applicable thereto through the last day of the Interest Period applicable thereto, fixed in advance for each Interest Period (but subject to changes in the Applicable Margin). Interest on such LIBOR Loans shall be at the Derived LIBO Rate, as calculated on the first day of the Interest Period applicable thereto (but subject to changes in the Applicable Margin), and at the Derived Eurodollar Rate. Interest on such Eurodollar Loans shall be payable on each Interest Adjustment Date with respect to an Interest Period (provided that if an Interest Period exceeds three (3) months, the interest must be paid every three (3) months, commencing three (3) months from the beginning of such Interest Period).
(d) . At the request of BorrowerBorrower to Agent, subject to the notice and other provisions of Section 2.22.02 hereof, Lender the Banks shall convert outstanding Base Rate Loans to LIBOR Eurodollar Loans at any time and shall convert LIBOR outstanding Eurodollar Loans to Base Rate Loans on any Interest Adjustment Date.
(e) . The obligation of Borrower to repay the Base Rate Loans and LIBOR Loans made to it by Lender each Bank pursuant to this Section 2.01 and to pay interest thereon shall be evidenced by a Revolving Credit Note of Borrower in the form of Exhibit A. Subject A hereto, payable to the provisions order of this Agreement, Borrower shall be entitled under this Section 2.1 to borrow funds, repay such Bank in the same in whole or in part and re-borrow hereunder at any time and from time to time during the Revolving Commitment Periodprincipal amount of its Commitment.
Appears in 1 contract
Samples: Term Loan Facility (Nordson Corp)
