Initial Prepayment Amount Sample Clauses

Initial Prepayment Amount. Pursuant to Section 2.4 of the Loan Agreement (Optional Prepayment of Term Loan), the Borrower shall deliver, or cause to be delivered, a principal payment on the Term Loans in the amount of $5,718,000.00 (the “Initial Prepayment Amount”), plus the Early Termination Fee due on the Initial Prepayment Amount, plus any and all other interest, fees and expenses, for a total aggregate amount of $6,590,340.74 (the “Total Initial Prepayment Amount”) to the Agent for distribution to the Lenders on the Amendment Closing Date as a prepayment on the Term Loan; provided that: (i) the parties shall release and deliver, or cause to be released and delivered, all monies currently held in the Blocked Equity Account (namely $5,718,000.00) to Borrower and Borrow shall deliver, or cause to be delivered, to the Agent for distribution to the Lenders to effectuate the payment of the Initial Prepayment Amount on the Amendment Closing Date; and (ii) within ten (10) Business Days of the Amendment Closing Date, the Blocked Equity Account shall be closed.