LOAN AGREEMENT AND NEW TERM LOAN Sample Clauses

LOAN AGREEMENT AND NEW TERM LOAN. (a) The Bank has previously made the New Term Loan to the Borrower which, as of the date hereof, has an outstanding principal balance of $3,700,000. The Borrower has requested, and the Bank has agreed, subject to the terms and conditions of this Amendment Agreement, that the Bank will re-advance to the Borrower $2,300,000 of principal of the New Term Loan which the Borrower has previously repaid to the Bank. The Borrower has also requested and the Bank has agreed, subject to the terms and conditions of this Amendment Agreement, that the Bank will make a $1,500,000 increase to the aggregate principal amount of the New Term Loan. The New Term Loan (after giving effect to this Amendment Agreement, including the aforementioned re-advance and increase) shall be in the principal amount of $7,500,000 and is evidenced by the Second Amended and Restated Secured Term Note (the "NOTE"), executed as of the date hereof and a copy of which is attached hereto as EXHIBIT A. The Maturity and amortization of the New Term Loan shall be as set forth in Section 3.4 of the Loan Agreement, as amended hereby. The New Term Loan shall continue to bear interest at the rate provided in Section 3.8, shall be jointly and severally payable by the Borrower and the Subsidiaries, and shall otherwise be governed by all of the terms and conditions and covenants of the Loan Agreement applicable to Advances.
Sample 1
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Related to LOAN AGREEMENT AND NEW TERM LOAN

  • Term Loan Agreement An Event of Default (as defined in the Term Loan Agreement) shall occur.

  • Amendment of Loan Agreement The Loan Agreement is hereby amended as follows:

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • Credit Agreement (a) Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Credit Agreement. All terms defined in the New York UCC (as defined herein) and not defined in this Agreement have the meanings specified therein; the term “instrument” shall have the meaning specified in Article 9 of the New York UCC.

  • MODIFICATION OF CREDIT AGREEMENT The Credit Agreement is hereby amended as follows:

  • Loan Agreement and Note Lender shall have received a copy of this Agreement and the Note, in each case, duly executed and delivered on behalf of Borrower.

  • of the Loan Agreement Section 1.1 of the Loan Agreement is hereby amended as follows:

  • Amendment of Credit Agreement The Credit Agreement is hereby amended as follows:

  • Reaffirmation of Credit Agreement This Amendment shall be deemed to be an amendment to the Credit Agreement, and the Credit Agreement, as amended hereby, is hereby ratified, approved and confirmed in each and every respect. All references to the Credit Agreement herein and in any other document, instrument, agreement or writing shall hereafter be deemed to refer to the Credit Agreement as amended hereby.

  • Loan Document Pursuant to Existing Credit Agreement This Amendment is a Loan Document executed pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with all of the terms and provisions of the Existing Credit Agreement, as amended hereby, including Article IX thereof.

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