Common use of Mandatory Prepayment of Tranche B Term Loan; Scheduled Amortization Clause in Contracts

Mandatory Prepayment of Tranche B Term Loan; Scheduled Amortization. On the last day of each fiscal quarter of the Borrower commencing with the fiscal quarter ending August 31, 2007, and ending on the fiscal quarter ending August 31, 2013, the Borrower promises to pay to the Administrative Agent for the pro rata account of the Tranche B Lenders an amount equal to 0.25% of the aggregate principal amount of the Tranche B Term Loan outstanding on such date, with the entire remaining unpaid principal balance (plus interest and other amounts payable in respect thereof) of the Tranche B Term Loan due and payable on the Tranche B Maturity Date. In addition, the Borrower shall repay the Tranche B Loan in accordance with §4. No amount repaid with respect to the Tranche B Term Loan may be reborrowed.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Emmis Communications Corp), Revolving Credit and Term Loan Agreement (Emmis Communications Corp)

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Mandatory Prepayment of Tranche B Term Loan; Scheduled Amortization. On the last day of each fiscal quarter of the Borrower commencing with the fiscal quarter ending August 31February 28, 20072005, and ending on the fiscal quarter ending August 31, 20132011, the Borrower promises to pay to the Administrative Agent for the pro rata account of the Tranche B Lenders an amount equal to 0.25% of the aggregate original principal amount of the Tranche B Term Loan outstanding on such datethe Funding Date, with the entire remaining unpaid principal balance (plus interest and other amounts payable in respect thereof) of the Tranche B Term Loan due and payable on the Tranche B Maturity Date. In addition, the Borrower shall repay the Tranche B Loan in accordance with §4. No amount repaid with respect to the Tranche B Term Loan may be reborrowed.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Emmis Operating Co)

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Mandatory Prepayment of Tranche B Term Loan; Scheduled Amortization. On the last day of each fiscal quarter of the Borrower commencing with the fiscal quarter ending August 31, 2007, and ending on the fiscal quarter ending August 31, 2013, the Borrower promises to pay to the Administrative Agent for the pro rata account of the Tranche B Lenders an amount equal to 0.25% of the aggregate principal amount of the Tranche B Term Loan outstanding on such date, with the entire remaining unpaid principal balance (plus interest and other amounts payable in respect thereof) of the Tranche B Term Loan due and payable on the Tranche B Maturity Date. In addition, the Borrower shall repay the Tranche B Term Loan in accordance with §4. No amount repaid with respect to the Tranche B Term Loan may be reborrowed.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Emmis Communications Corp)

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