Facility B Term Loan Advances Sample Clauses

Facility B Term Loan Advances. To the extent not otherwise ----------------------------- required to be paid earlier as provided herein, the principal amount of the Facility B Term Loan Advances shall be repaid on each Quarterly Date and on the Facility B Term Loan Maturity Date in such amounts as set forth next to each such date below: Amount of Reduction of Facility B Quarterly Date Term Loan Advances as of each Date -------------- ---------------------------------- March 31, 1998 $ 100,000 June 30, 1998 $ 100,000 September 30, 1998 $ 100,000 December 31, 1998 $ 100,000 March 31, 1999 $ 100,000 June 30, 1999 $ 100,000 September 30, 1999 $ 100,000 December 31, 1999 $ 100,000 March 30, 2000 $ 100,000 June 30, 2000 $ 100,000 September 30, 2000 $ 100,000 December 31, 2000 $ 100,000 March 31, 2001 $ 100,000 June 30, 2001 $ 100,000 September 30, 2001 $ 100,000 December 31, 2001 $ 100,000 March 31, 2002 $ 100,000 June 30, 2002 $ 100,000 September 30, 2002 $ 100,000 December 31, 2002 $ 100,000 March 31, 2003 $ 100,000 June 30, 2003 $ 100,000 September 30, 2003 $ 100,000 December 31, 2003 $ 100,000 March 31, 2004 $9,400,000 June 30, 2004 $9,400,000
Sample 1
AutoNDA by SimpleDocs
Facility B Term Loan Advances. Each Lender severally agrees, upon the ----------------------------- terms and subject to the conditions of this Agreement, to make a Facility B Term Loan Advance to the Borrower on the Agreement Date in an amount not to exceed its Facility B Term Loan Specified Percentage of the Facility B Term Loan Commitment for the purposes set forth in Section 5.8 hereof. Notwithstanding ----------- any provision in any Loan Document to the contrary, in no event shall the principal amount of all outstanding Facility B Term Loan Advances exceed the Facility B Term Loan Commitment. Immediately upon the making of the Facility B Term Loan Advances, the Facility B Commitment shall be automatically terminated. Facility B Advances may not be repaid and then reborrowed.
Sample 1
Facility B Term Loan Advances. To the extent not otherwise required to be paid earlier as provided herein, the principal amount of the Facility B Term Loan Advances shall be repaid on each Quarterly Date and on the Facility B Term Loan Maturity Date in such amounts as set forth next to each such date below: Amount of Reduction of Facility B Quarterly Date Term Loan Advances as of each Date -------------- ---------------------------------- June 30, 1999 $ 100,000 September 30, 1999 $ 100,000 December 31, 1999 $ 100,000 March 31, 2000 $ 100,000 June 30, 2000 $39,100,000 or such other amount of Facility B Term Loan Advances then outstanding (h) Section 6.7 is entirely amended, as follows:
Sample 1
Facility B Term Loan Advances. Each Lender severally agrees, upon the ----------------------------- terms and subject to the conditions of this Agreement, to make Facility B Term Loan Advances to the Borrower in an aggregate amount not to exceed its Facility B Specified Percentage of the Facility B Term Loan Commitment for the purposes set forth in Section 5.9 hereof. The Facility B Term Loan Advances shall be ----------- made in two Advances, the first of such Advances in the aggregate amount of $30,000,000 shall occur on December 4, 1997 and the second of such Advances in the aggregate amount of $20,000,000 shall occur no later than January 5, 1998. Notwithstanding any provision in any Loan Document to the contrary, in no event shall the principal amount of all outstanding Facility B Term Loan Advances exceed the Facility B Term Loan Commitment. Immediately upon the making of the second Facility B Term Loan Advance on the day of the Shelter Components Merger, the Facility B Term Loan Commitment shall be automatically terminated. Facility B Term Loan Advances may not be repaid and then reborrowed.
Sample 1
Facility B Term Loan Advances. To the extent not otherwise ----------------------------- required to be paid earlier as provided herein, beginning on March 31, 2000, the principal amount of the Facility B Term Loan Advances shall be repaid on each Quarterly Date and on the Facility B Term Loan Maturity Date in such amounts as set forth next to each such date below: ---------------------------------------------------------------------------------------------- Amount of Reduction of Facility B Term Loan Quarterly Date Advances as of each Date -------------- ------------------------ ---------------------------------------------------------------------------------------------- March 31, 2000 $ 562,500 ---------------------------------------------------------------------------------------------- June 30, 2000 $ 562,500 ---------------------------------------------------------------------------------------------- September 30, 2000 $ 562,500 ---------------------------------------------------------------------------------------------- December 31, 2000 $ 562,500 ---------------------------------------------------------------------------------------------- March 31, 2001 $ 562,500 ---------------------------------------------------------------------------------------------- -3- ---------------------------------------------------------------------------------------------- June 30, 2001 $ 562,500 ---------------------------------------------------------------------------------------------- September 30, 2001 $ 562,500 ---------------------------------------------------------------------------------------------- December 31, 2001 $ 562,500 ---------------------------------------------------------------------------------------------- January 31, 2002 $215,199,000 or such other amount of Facility B Term Loan Advances then outstanding ----------------------------------------------------------------------------------------------
Sample 1
Facility B Term Loan Advances. Each Lender with a Facility B Term Loan Specified Percentage severally agrees, upon the terms and subject to the conditions of this Agreement, to make a Facility B Term Loan Advance to the Borrower on the Agreement Date in an amount equal to such Lender's Facility B Term Loan Specified Percentage of the Facility B Term Loan Commitment for the purposes set forth in Section 5.8 hereof. Notwithstanding any provision in any Loan Document to the contrary, in no event shall the principal amount of all outstanding Facility B Term Loan Advances exceed the Facility B Term Loan Commitment. Immediately upon the making of the Facility B Term Loan Advances, the Facility B Term Loan Commitment shall be automatically terminated. Facility B Term Loan Advances may not be repaid and then reborrowed.
Sample 1
Facility B Term Loan Advances. Each Lender severally agrees, upon the terms and subject to the conditions of this Agreement, to make a Facility B Term Loan Advance to the Borrower on the Agreement Date in an amount not to exceed its Facility B Term Loan Specified Percentage of the Facility B Term Loan Commitment. Notwithstanding any provision in any Loan Document to the contrary, in no event shall the principal amount of all outstanding Facility B Term Loan Advances exceed the Facility B Term Loan Commitment. Immediately upon the making of the Facility B Term Loan Advances, the Facility B Term Loan Commitment shall be automatically terminated. Facility B Term Loan Advances may not be repaid and then reborrowed.
Sample 1
AutoNDA by SimpleDocs
Facility B Term Loan Advances. Each Lender severally agrees, upon the terms and subject to the conditions of this Agreement, to make Facility B Term Loan Advances to the Borrower on the Agreement Date in an aggregate amount not to exceed its Facility B Term Loan Specified Percentage of the Facility B Term Loan Commitment for the purposes set forth in Section 5.8 hereof.
Sample 1
Facility B Term Loan Advances. Each Lender severally agrees, upon the terms and subject to the conditions of this Agreement, to make Facility B Term Loan Advances to the Borrower on the Agreement Date in an aggregate amount not to exceed its Facility B Term Loan Specified Percentage of the Facility B Term Loan Commitment for the purposes set forth in Section 5.8 hereof. Notwithstanding any provision in any Loan Document to the contrary, in no event shall the principal amount of all outstanding Facility B Term Loan Advances exceed the Facility B Term Loan Commitment. Immediately upon the making of the Facility B Term Loan Advance, the Facility B Term Loan Commitment shall be automatically terminated. Facility B Term Loan Advances may not be repaid and then reborrowed. Swing Line Advances. The Borrower may request the Swing Line Bank to make, and the Swing Line Bank shall make, on the terms and conditions hereinafter set forth, advances ("Swing Line Advances") to the Borrower from time to time on any Business Day during the period from the Agreement Date to the Revolving Commitment Maturity Date in an aggregate principal amount not to exceed at any time outstanding the lesser of (a) $10,000,000 or (b) an amount equal to the Revolving Credit Commitment minus (i) the aggregate principal amount of Revolving Credit Advances then outstanding and (ii) the aggregate amount of all Reimbursement Obligations then outstanding (the "Swing Line Facility"). Each Swing Line Advance shall be in an amount not less than $100,000. Within the limits of the Swing Line Facility and subject to the terms hereof, Swing Line Advances may be repaid and then reborrowed.
Sample 1

Related to Facility B Term Loan Advances

  • Term Loan Advances Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to one percent (1.0%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(d) below.

  • Tranche B Term Loans Subject to and upon the terms and conditions set forth herein, each Lender with a Tranche B Term Loan Commitment severally agrees to make a term loan (each, a “Tranche B Term Loan” and, collectively, the “Tranche B Term Loans”) to the U.S. Borrower, which Tranche B Term Loans: (i) shall be incurred by the U.S. Borrower pursuant to a single drawing on the Restatement Effective Date for the purposes described in Section 7.05(a); (ii) shall be denominated in Dollars; (iii) except as hereafter provided, shall, at the option of the U.S. Borrower, be incurred and maintained as one or more Borrowings of Base Rate Loans or Eurodollar Loans; provided (A) except as otherwise specifically provided in Section 1.10(b), all Tranche B Term Loans made as part of the same Borrowing shall at all times consist of Tranche B Term Loans of the same Type and (B) unless the Administrative Agent has determined that the Syndication Date has occurred (at which time this clause (B) shall no longer be applicable), no more than four Borrowings of Tranche B Term Loans to be maintained as Eurodollar Loans may be incurred prior to the 30th day after the Restatement Effective Date (or, if later, the last day of the Interest Period applicable to the fourth Borrowing of Eurodollar Loans referred to below), each of which Borrowings of Eurodollar Loans may only have an Interest Period of one week, and the first of which Borrowings may be made no earlier than the third Business Day, and no later than the fifth Business Day, after the Restatement Effective Date, the second of which Borrowings may only be made on the last day of the Interest Period of the first such Borrowing, the third of which Borrowings may only be made on the last day of the Interest Period of the second such Borrowing and the fourth of which Borrowings may only be made on the last day of the Interest Period of the third such Borrowing; and (iv) shall be made by each Lender in that initial aggregate principal amount as is equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective Date (before giving effect to the termination thereof on such date pursuant to Section 3.03(b)). Once repaid, Tranche B Term Loans incurred hereunder may not be reborrowed.

  • Loan Advances During the Revolving Period, the Borrower may, at its option, request the Revolving Lenders to make advances of funds (each, a “Loan Advance”) by delivering a Funding Notice with respect to such Loan Advance to the Administrative Agent, which shall provide notification to the Revolving Lenders with respect thereto, in an aggregate amount up to the Availability as of the proposed Funding Date of the Loan Advance; provided, however, that no Revolving Lender shall be obligated to make any Loan Advance on or after the date that is two (2) Business Days prior to the earlier to occur of the applicable Revolving Period End Date or the Termination Date. Following the receipt of a Funding Notice during the Revolving Period, subject to the terms and conditions hereinafter set forth, the Revolving Lenders shall fund such Loan Advance.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Revolving Loan Facility On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to the Borrower from time to time during the period beginning on the Effective Date up to, but not including the Termination Date, such loans in Dollars as the Borrower may request under this Section 2.01(b) (individually, a “Revolving Loan”); provided, however, that (i) the sum of (A) the Effective Amount of all Revolving Loans made by such Lender at any time outstanding and (B) such Lender’s Revolving Proportionate Share of the Effective Amount of all L/C Obligations and all Swing Line Loans at any time outstanding shall not exceed such Lender’s Revolving Loan Commitment at such time and (ii) the sum of (A) the Effective Amount of all Revolving Loans made by all of the Revolving Lenders at any time outstanding and (B) the Effective Amount of all L/C Obligations and Swing Line Loans at any time outstanding shall not exceed the Revolving Loan Facility at such time. All Revolving Loans shall be made on a pro rata basis by the Revolving Lenders in accordance with their respective Revolving Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Revolving Lender equal to such Lender’s Revolving Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein, the Borrower may borrow, repay and reborrow Revolving Loans until the Termination Date in respect of the Revolving Loan Facility.

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrowers in an amount at any one time outstanding not to exceed the lesser of: (i) such Lender’s Commitment, or (ii) such Lender’s Pro Rata Share of an amount equal to the lesser of: (A) the Maximum Revolver Amount less the sum of (1) the Letter of Credit Usage at such time, plus (2) the principal amount of Swing Loans outstanding at such time, and (B) the Borrowing Base at such time less the sum of (1) the Letter of Credit Usage at such time, plus (2) the principal amount of Swing Loans outstanding at such time. (b) Amounts borrowed pursuant to this Section 2.1 may be repaid and, subject to the terms and conditions of this Agreement, reborrowed at any time during the term of this Agreement. The outstanding principal amount of the Advances, together with interest accrued thereon, shall be due and payable on the Maturity Date or, if earlier, on the date on which they are declared due and payable pursuant to the terms of this Agreement. (c) Anything to the contrary in this Section 2.1 notwithstanding, Agent shall have the right (but not the obligation) to establish, increase, reduce, eliminate, or otherwise adjust reserves from time to time against the Borrowing Base or the Maximum Revolver Amount in such amounts, and with respect to such matters, as Agent in its Permitted Discretion shall deem necessary or appropriate, including (i) reserves in an amount equal to the Bank Product Reserve Amount, (ii) reserves with respect to (A) sums that Parent or its Subsidiaries are required to pay under any Section of this Agreement or any other Loan Document (such as taxes, assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable under such leases) and has failed to pay when due, and (B) amounts owing by Parent or its Subsidiaries to any Person to the extent secured by a Lien on, or trust over, any of the Collateral (other than a Permitted Lien which is a permitted purchase money Lien or the interest of a lessor under a Capital Lease), which Lien or trust, in the Permitted Discretion of Agent likely would have a priority superior to Agent’s Liens (such as Liens or trusts in favor of landlords, warehousemen, carriers, mechanics, materialmen, laborers, or suppliers, or Liens or trusts for ad valorem, excise, sales, or other taxes where given priority under applicable law) in and to such item of the Collateral, and (iii)

  • Term Loan (a) Subject to the terms and conditions of this Agreement, each Term Loan Lender severally agrees to make an advance of its Pro Rata Term Share of the Term Loan to the Borrower on the Closing Date, and from the Closing Date to the Term Loan Maturity Date, convert and continue Segments from time to time in accordance with the terms hereof. The principal amount of each Segment of the Term Loan outstanding hereunder from time to time shall bear interest and the Term Loan shall be repayable as herein provided. No amount of the Term Loan repaid or prepaid by the Borrower may be reborrowed hereunder, and no subsequent advance under the Term Loan Facility shall be allowed after the initial such advance of the Term Loan on the Closing Date. Segments of the Term Loan may be Base Rate Segments or Eurodollar Rate Segments at the Borrower’s election, as provided herein. (b) Not later than 1:00 P.M. New York time, on the Closing Date, each Term Loan Lender shall, pursuant to the terms and subject to the conditions of this Agreement, make the amount of its Pro Rata Term Share of the Term Loan available by wire transfer to the Administrative Agent. Such wire transfer shall be directed to the Administrative Agent at the Administrative Agent’s Office and shall be in the form of same day funds in Dollars. The amount so received by the Administrative Agent shall, subject to the terms and conditions of this Agreement, including without limitation the satisfaction of all applicable conditions in Sections 5.01 and 5.02, be made available to the Borrower by delivery of the proceeds thereof as shall be directed by the Responsible Officer of the Borrower and reasonably acceptable to the Administrative Agent. The initial Borrowing of the Term Loan may be a Eurodollar Rate Segment, a Base Rate Segment, or both; provided that if the Borrower desires that any portion of the initial Borrowing of the Term Loan is advanced as a Eurodollar Rate Segment, the Administrative Agent shall make such Borrowing as a Eurodollar Rate Segment only if, not later than three Business Days prior to the date that is then anticipated to be the Closing Date, the Administrative Agent has received from the Borrower a Term Loan Interest Rate Selection Notice with respect thereto, together with the Borrower’s written acknowledgement in form and substance satisfactory to the Administrative Agent that the provisions of Section 4.05 hereof shall apply to any failure by the Borrower to borrow on the date set forth in such Term Loan Interest Rate Selection notice any or all of the amounts specified in such Term Loan Interest Rate Selection Notice.

  • Term Loan A Subject to the terms and conditions of this Agreement, each Term Loan A Lender, severally and not jointly, will make a term loan to Borrowers in the amount equal to such Term Loan A Lender’s Term Loan A Commitment Percentage of $8,500,000 (the “Term Loan A”). The Term Loan A shall be advanced on the Closing Date and shall be, with respect to principal, payable as follows, subject to acceleration upon the occurrence of an Event of Default under this Agreement or termination of this Agreement: on or before the date that is forty-five (45) days after the last day of each fiscal quarter (each a “True-Up Date”), commencing with the fiscal quarter ending March 31, 2017 and continuing thereafter through and including the last such date occurring immediately prior to the end of the Term, Borrowers shall repay the Term Loan A in an amount equal to the greater of (x) $212,500 and (y) the Term Loan A Lenders Pro Rata Share of the lesser of (I) 50% of Excess Cash Flow for the most recently ended prior fiscal quarter for which financial statements were delivered to Agents and (II) 50% of the Maximum True Up Amount (provided that Borrowers shall pay the amount set forth in the foregoing clause (x) no later than the first Business Day following the last day of each fiscal quarter, commencing with the fiscal quarter ending March 31, 2017 and continuing thereafter through and including the last such date occurring immediately prior to the end of the Term (it being understood and agreed that if the amount calculated pursuant to the foregoing clause (y) for each such period exceeds the amount set forth in the foregoing clause (x), the difference thereof (if any) shall be paid by Borrowers no later than the applicable True-Up Date)) followed by a final payment of all unpaid principal, accrued and unpaid interest and all unpaid fees and expenses upon expiration of the Term. The Term Loan A shall be evidenced by one or more secured promissory notes (collectively, the “Term Note”) in substantially the form attached hereto as Exhibit 2.3. Term Loan A may consist of Domestic Rate Loans or LIBOR Rate Loans, or a combination thereof, as Borrowing Agent may request; and in the event that Borrowers desire to obtain or extend any portion of the Term Loan A as a LIBOR Rate Loan or to convert any portion of the Term Loan A from a Domestic Rate Loan to a LIBOR Rate Loan, Borrowing Agent shall comply with the notification requirements set forth in Sections 2.2(b) and/or (e) and the provisions of Sections 2.2(b) through (h) shall apply.

  • Tranche A Term Loans Subject to the terms and conditions set forth herein, each Tranche A Term Loan Lender agrees to make a Tranche A Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche A Term Loan Commitment. Amounts repaid in respect of Tranche A Term Loans may not be reborrowed hereunder.

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Revolver Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!