Common use of Initial Term Loan Clause in Contracts

Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). Borrower shall repay the Initial Term Loan through periodic payments on the dates and in the amounts indicated below (“Initial Term Loan Scheduled Installments”). June 30, 2012 $ 2,187,500 September 30, 2012 $ 2,187,500 December 31, 2012 $ 2,187,500 March 31, 2013 $ 4,375,000 June 30, 2013 $ 4,375,000 September 30, 2013 $ 4,375,000 December 31, 2013 $ 4,375,000 March 31, 2014 $ 4,375,000 June 30, 2014 $ 4,375,000 September 30, 2014 $ 4,375,000 December 31, 2014 $ 4,375,000 March 31, 2015 $ 6,562,500 June 30, 2015 $ 6,562,500 September 30, 2015 $ 6,562,500 December 31, 2015 $ 6,562,500 March 31, 2016 $ 6,562,500 June 30, 2016 $ 6,562,500 September 30, 2016 $ 6,562,500 December 31, 2016 $ 6,562,500 Notwithstanding the foregoing, the outstanding principal balance of the Initial Term Loan shall be due and payable in full on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (TNS Inc)

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Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). The Borrower shall repay the Initial Term Loan through periodic payments on the dates and in the amounts indicated below (“Initial Term Loan Scheduled Installments”). June 30, 2012 $ 2,187,500 September 30, 2012 $ 2,187,500 December 31, 2012 $ 2,187,500 March 31, 2013 $ 4,375,000 June 30, 2013 $ 4,375,000 September 30, 2013 $ 4,375,000 December 31, 2013 $ 4,375,000 March 31, 2014 $ 4,375,000 June 30, 2014 $ 4,375,000 September 30, 2014 $ 4,375,000 December 31, 2014 $ 4,375,000 March 31, 2015 $ 6,562,500 June 30, 2015 $ 6,562,500 September 30, 2015 $ 6,562,500 December 31, 2015 $ 6,562,500 March 31, 2016 $ 6,562,500 June 30, 2016 $ 6,562,500 September 30, 2016 $ 6,562,500 December 31, 2016 $ 6,562,500 Notwithstanding the foregoing, the aggregate outstanding principal balance amount of the Initial Term Loan in consecutive quarterly installments on the payment dates listed in the table below, commencing June 30, 2018, in the amounts set forth below, except as the amounts of individual installments may be adjusted pursuant to Section 5.4 or Section 6.13 hereof, as applicable: 2018 June 30 $ 2,425,000 September 30 $ 2,425,000 December 31 $ 2,425,000 2019 March 31 $ 2,425,000 June 30 $ 2,425,000 September 30 $ 2,425,000 December 31 $ 2,425,000 2020 March 31 $ 2,425,000 June 30 $ 2,425,000 September 30 $ 2,425,000 December 31 $ 2,425,000 2021 March 31 $ 2,425,000 June 30 $ 2,425,000 September 30 $ 2,425,000 December 31 $ 2,425,000 2022 March 31 $ 2,425,000 June 30 $ 2,425,000 September 30 $ 2,425,000 December 31 $ 2,425,000 2023 March 31 $ 2,425,000 June 30 $ 2,425,000 September 30 $ 2,425,000 December 31 $ 2,425,000 2024 March 31 $ 2,425,000 June 30 $ 2,425,000 September 30 $ 2,425,000 December 31 $ 2,425,000 2025 Term Loan Maturity Date Remaining Outstanding Principal Amount In addition, the aggregate outstanding principal amount of the Initial Term Loan, as of the Term Loan Maturity Date, shall be due and payable paid in full full, together with accrued interest thereon, on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Beacon Roofing Supply Inc)

Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). The Borrower shall repay the outstanding principal amount of the Initial Term Loan through periodic payments on the dates last Business Day of each Fiscal Quarter and on the Maturity Date in the applicable respective amounts indicated below set forth in the table (“Initial Term Loan Scheduled Installments”). which amounts shall be reduced as a result of the application of prepayments hereunder in accordance with Section 2.05): December 31, 2011 $ 4,687,500 March 31, 2012 $ 4,687,500 June 30, 2012 $ 2,187,500 4,687,500 September 30, 2012 $ 2,187,500 4,687,500 December 31, 2012 $ 2,187,500 7,031,250 March 31, 2013 $ 4,375,000 7,031,250 June 30, 2013 $ 4,375,000 7,031,250 September 30, 2013 $ 4,375,000 7,031,250 December 31, 2013 $ 4,375,000 9,375,000 March 31, 2014 $ 4,375,000 9,375,000 June 30, 2014 $ 4,375,000 9,375,000 September 30, 2014 $ 4,375,000 9,375,000 December 31, 2014 $ 4,375,000 11,718,750 March 31, 2015 $ 6,562,500 11,718,750 June 30, 2015 $ 6,562,500 11,718,750 September 30, 2015 $ 6,562,500 11,718,750 December 31, 2015 $ 6,562,500 14,062,500 March 31, 2016 $ 6,562,500 14,062,500 June 30, 2016 $ 6,562,500 September 3014,062,500 Maturity Date Outstanding Principal Balance of Initial Term Loan provided, 2016 $ 6,562,500 December 31however, 2016 $ 6,562,500 Notwithstanding that the foregoing, the outstanding final principal balance repayment installment of the Initial Term Loan shall be due and payable in full repaid on the Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of the Initial Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowedoutstanding on such date.

Appears in 1 contract

Samples: Credit Agreement (Kapstone Paper & Packaging Corp)

Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). Borrower The Company shall repay the outstanding principal amount of the Initial Term Loan through periodic payments in installments on the dates and in the amounts indicated equal to the percentages set forth in the table below (“Initial Term Loan Scheduled Installments”). June 30, 2012 $ 2,187,500 September 30, 2012 $ 2,187,500 December 31, 2012 $ 2,187,500 March 31, 2013 $ 4,375,000 June 30, 2013 $ 4,375,000 September 30, 2013 $ 4,375,000 December 31, 2013 $ 4,375,000 March 31, 2014 $ 4,375,000 June 30, 2014 $ 4,375,000 September 30, 2014 $ 4,375,000 December 31, 2014 $ 4,375,000 March 31, 2015 $ 6,562,500 June 30, 2015 $ 6,562,500 September 30, 2015 $ 6,562,500 December 31, 2015 $ 6,562,500 March 31, 2016 $ 6,562,500 June 30, 2016 $ 6,562,500 September 30, 2016 $ 6,562,500 December 31, 2016 $ 6,562,500 Notwithstanding the foregoing, of the outstanding principal balance amount of the Initial Term Loan shall be due and payable in full on the Second Amendment Effective Date (as such installments may hereafter be adjusted as a result of prepayments of the Initial Term Loan made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 8.01: December 31, 20172021 $00.000% March 31, 20182022 $00.000% June 30, 20182022 $00.000% September 30, 20182022 $00.000% December 31, 20182022 $1,875,000.001.250% March 31, 20192023 $1,875,000.001.250% June 30, 20192023 $1,875,000.001.250% September 30, 20192023 $1,875,000.001.250% December 31, 20192023 $2,812,500.001.250% March 31, 20202024 $2,812,500.001.250% June 30, 20202024 $2,812,500.001.250% September 30, 20202024 $2,812,500.001.250% December 31, 20202024 $3,750,000.001.875% March 31, 20212025 $3,750,000.001.875% June 30, 20212025 $3,750,000.001.875% Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.Date Outstanding Principal Balanceof the Initial Term Loan

Appears in 1 contract

Samples: Credit Agreement (EnerSys)

Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). The Borrower shall repay the aggregate outstanding principal amount of the Initial Term Loan through periodic payments in consecutive quarterly installments on the dates last Business Day of each of March, June, September and in the amounts indicated below (“Initial Term Loan Scheduled Installments”). June 30, 2012 $ 2,187,500 September 30, 2012 $ 2,187,500 December 31, 2012 $ 2,187,500 March 31, 2013 $ 4,375,000 commencing June 30, 2013 $ 4,375,000 as set forth below, except as the amounts of individual installments may be adjusted pursuant to Section 4.4 hereof: June 30, 2013 1,406,250 September 30, 2013 $ 4,375,000 1,406,250 December 31, 2013 $ 4,375,000 1,406,250 March 31, 2014 $ 4,375,000 1,406,250 June 30, 2014 $ 4,375,000 1,875,000 September 30, 2014 $ 4,375,000 1,875,000 December 31, 2014 $ 4,375,000 1,875,000 March 31, 2015 $ 6,562,500 1,875,000 June 30, 2015 $ 6,562,500 1,875,000 September 30, 2015 $ 6,562,500 1,875,000 December 31, 2015 $ 6,562,500 1,875,000 March 31, 2016 $ 6,562,500 1,875,000 June 30, 2016 $ 6,562,500 2,343,750 September 30, 2016 $ 6,562,500 2,343,750 December 31, 2016 $ 6,562,500 Notwithstanding the foregoing2,343,750 March 31, the outstanding principal balance of 2017 2,343,750 June 30, 2017 2,343,750 September 30, 2017 2,343,750 December 31, 2017 2,343,750 March 31, 2018 2,343,750 If not sooner paid, the Initial Term Loan shall be due and payable paid in full full, together with accrued interest thereon, on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Federal Signal Corp /De/)

Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). The Borrower shall repay the aggregate outstanding principal amount of the Initial Term Loan through periodic payments in consecutive quarterly installments on the payment dates and listed in the table below, commencing December 31, 2015, in the amounts indicated below (“Initial set forth below, except as the amounts of individual installments may be adjusted pursuant to Section 5.4 hereof: 2015 December 31 $ 1,125,000 2016 March 31 $ 1,125,000 June 30 $ 1,125,000 September 30 $ 1,125,000 December 31 $ 1,125,000 2017 March 31 $ 1,125,000 June 30 $ 1,125,000 September 30 $ 1,125,000 December 31 $ 1,125,000 2018 March 31 $ 1,125,000 June 30 $ 1,125,000 September 30 $ 1,125,000 December 31 $ 1,125,000 2019 March 31 $ 1,125,000 June 30 $ 1,125,000 September 30 $ 1,125,000 December 31 $ 1,125,000 2020 March 31 $ 1,125,000 June 30 $ 1,125,000 September 30 $ 1,125,000 December 31 $ 1,125,000 2021 March 31 $ 1,125,000 June 30 $ 1,125,000 September 30 $ 1,125,000 December 31 $ 1,125,000 2022 March 31 $ 1,125,000 June 30 $ 1,125,000 September 30 $ 1,125,000 Term Loan Scheduled Installments”). June 30Maturity Date Remaining Outstanding Principal Amount If not sooner paid, 2012 $ 2,187,500 September 30, 2012 $ 2,187,500 December 31, 2012 $ 2,187,500 March 31, 2013 $ 4,375,000 June 30, 2013 $ 4,375,000 September 30, 2013 $ 4,375,000 December 31, 2013 $ 4,375,000 March 31, 2014 $ 4,375,000 June 30, 2014 $ 4,375,000 September 30, 2014 $ 4,375,000 December 31, 2014 $ 4,375,000 March 31, 2015 $ 6,562,500 June 30, 2015 $ 6,562,500 September 30, 2015 $ 6,562,500 December 31, 2015 $ 6,562,500 March 31, 2016 $ 6,562,500 June 30, 2016 $ 6,562,500 September 30, 2016 $ 6,562,500 December 31, 2016 $ 6,562,500 Notwithstanding the foregoing, the outstanding principal balance of the Initial Term Loan shall be due and payable paid in full full, together with accrued interest thereon, on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Beacon Roofing Supply Inc)

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Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). Borrower The Borrowers shall repay the aggregate outstanding principal amount of the Initial Term Loan through periodic payments in consecutive quarterly installments on the dates last Business Day of each of March, June, September and in the amounts indicated below (“Initial Term Loan Scheduled Installments”). December commencing June 30, 2012 2017 as set forth below, except as the amounts of individual installments may be adjusted pursuant to Section 4.4 hereof: 2017 June 30, 2017 $ 2,187,500 1,875,000 September 30, 2012 2017 $ 2,187,500 1,875,000 December 31, 2012 2017 $ 2,187,500 1,875,000 2018 March 31, 2013 2018 $ 4,375,000 1,875,000 June 30, 2013 2018 $ 4,375,000 2,812,500 September 30, 2013 2018 $ 4,375,000 2,812,500 December 31, 2013 2018 $ 4,375,000 2,812,500 2019 March 31, 2014 2019 $ 4,375,000 2,812,500 June 30, 2014 2019 $ 4,375,000 2,812,500 September 30, 2014 2019 $ 4,375,000 2,812,500 December 31, 2014 2019 $ 4,375,000 2,812,500 2020 March 31, 2015 2020 $ 6,562,500 2,812,500 June 30, 2015 2020 $ 6,562,500 3,750,000 September 30, 2015 2020 $ 6,562,500 3,750,000 December 31, 2015 2020 $ 6,562,500 3,750,000 2021 March 31, 2016 2021 $ 6,562,500 3,750,000 June 30, 2016 2021 $ 6,562,500 3,750,000 September 30, 2016 2021 $ 6,562,500 3,750,000 December 31, 2016 2021 $ 6,562,500 Notwithstanding the foregoing3,750,000 If not sooner paid, the outstanding principal balance of the Initial Term Loan shall be due and payable paid in full full, together with accrued interest thereon, on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Mitel Networks Corp)

Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). The Borrower shall repay the aggregate outstanding principal amount of the Initial Term Loan through periodic payments on the dates in consecutive quarterly installments in each of March, June, September and in December commencing September 22, 2009 as set forth below, except as the amounts indicated below (“Initial Term Loan Scheduled Installments”). of individual installments may be adjusted pursuant to Section 4.4 hereof: 2008 September 22, 2008 $ 0 December 22, 2008 $ 0 2009 March 23, 2009 $ 0 June 22, 2009 $ 0 September 22, 2009 $ 5,625,000 December 22, 2009 $ 5,625,000 2010 March 22, 2010 $ 5,625,000 June 30, 2010 $ 5,625,000 September 30, 2010 $ 15,000,000 December 31, 2010 $ 15,000,000 2011 March 31, 2011 $ 15,000,000 June 30, 2011 $ 15,000,000 September 30, 2011 $ 13,500,000 December 31, 2011 $ 13,500,000 2012 March 31, 2012 $ 13,500,000 June 30, 2012 $ 2,187,500 September 30, 2012 $ 2,187,500 December 31, 2012 $ 2,187,500 March 31, 2013 $ 4,375,000 June 30, 2013 $ 4,375,000 September 30, 2013 $ 4,375,000 December 31, 2013 $ 4,375,000 March 31, 2014 $ 4,375,000 June 30, 2014 $ 4,375,000 September 30, 2014 $ 4,375,000 December 31, 2014 $ 4,375,000 March 31, 2015 $ 6,562,500 June 30, 2015 $ 6,562,500 September 30, 2015 $ 6,562,500 December 31, 2015 $ 6,562,500 March 31, 2016 $ 6,562,500 June 30, 2016 $ 6,562,500 September 30, 2016 $ 6,562,500 December 31, 2016 $ 6,562,500 Notwithstanding the foregoing, the 13,500,000 Term Loan Maturity Date Remaining outstanding principal balance of the Initial Term Loan shall be due and payable in full on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.Loan

Appears in 1 contract

Samples: Credit Agreement (DynCorp International LLC)

Initial Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Holdings and Borrower contained herein, each Initial Term Lender, severally and not jointly, shall make a term loan to Borrower in one draw on the Closing Date in an amount equal to its Pro Rata Share of $350,000,000 (the “Initial Term Loan”). The Borrower shall repay the aggregate outstanding principal amount of the Initial Term Loan through periodic payments in consecutive quarterly installments on the dates and in the amounts indicated below (“Initial Term Loan Scheduled Installments”). June 30, 2012 $ 2,187,500 September 30, 2012 $ 2,187,500 last Business Day of each of fiscal quarter commencing December 31, 2012 $ 2,187,500 March 312015 ending after the Closing Date as set forth below, 2013 $ 4,375,000 June 30, 2013 $ 4,375,000 September 30, 2013 $ 4,375,000 December 31, 2013 $ 4,375,000 March 31, 2014 $ 4,375,000 June 30, 2014 $ 4,375,000 September 30, 2014 $ 4,375,000 December 31, 2014 $ 4,375,000 March 31, 2015 $ 6,562,500 June 30, 2015 $ 6,562,500 September 30, 2015 $ 6,562,500 except as the amounts of individual installments may be adjusted pursuant to Section 4.4 hereof: December 31, 2015 $ 6,562,500 1,031,250.00 March 31, 2016 $ 6,562,500 1,031,250.00 June 30, 2016 $ 6,562,500 1,031,250.00 September 30, 2016 $ 6,562,500 1,031,250.00 December 31, 2016 $ 6,562,500 Notwithstanding 1,546,875.00 March 31, 2017 $ 1,546,875.00 June 30, 2017 $ 1,546,875.00 September 30, 2017 $ 1,546,875.00 December 31, 2017 $ 2,062,500.00 March 31, 2018 $ 2,062,500.00 June 30, 2018 $ 2,062,500.00 September 30, 2018 $ 2,062,500.00 December 31, 2018 $ 2,578,125.00 March 31, 2019 $ 2,578,125.00 June 30, 2019 $ 2,578,125.00 September 30, 2019 $ 2,578,125.00 December 31, 2019 $ 3,093,750.00 March 31, 2020 $ 3,093,750.00 June 30, 2020 $ 3,093,750.00 September 30, 2020 $ 3,093,750.00 Confidential Portions of this Exhibit marked as [***] have been omitted pursuant to a request for confidential treatment and have been filed separately with the foregoingSecurities and Exchange Commission. If not sooner paid, the outstanding principal balance of the Initial Term Loan shall be due and payable paid in full full, together with accrued interest thereon, on the Term Loan Maturity Date. Amounts borrowed under this Section 1.1(a) and repaid may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (STAMPS.COM Inc)

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