Common use of Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms Clause in Contracts

Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. The obligations of each Lender to make Term Loans to the Company shall be in the proportion that such Lender’s Term Loan Commitment bears to the Term Loan Commitments of all Lenders to the Company, but each Lender’s Term Loan to the Company shall never exceed its Term Loan Commitment. The failure of any Lender to make a Term Loan shall not relieve any other Lender of its obligations to make a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Company shall not have the right to borrow, repay and reborrow Term Loans hereunder. The Term Loans shall be paid by the Company in installments of principal as set forth below, and each Lender making a Term Loan shall receive from the Company installments equal to such Lender’s Pro Rata Share of the following principal installments of the Term Loans: [Term Loan installment payment schedule begins on the next page] - 27 - Payment Date: Principal Amount of Installment: January 1, 2009 $ 7,500,000 April 1, 2009 $ 7,500,000 July 1, 2009 $ 7,500,000 October 1 2009 $ 7,500,000 January 1, 2010 $ 8,125,000 April 1, 2010 $ 8,125,000 July 1, 2010 $ 8,125,000 October 1 2010 $ 8,125,000 January 1, 2011 $ 10,000,000 April 1, 2011 $ 10,000,000 July 1, 2011 $ 10,000,000 October 1 2011 $ 10,000,000 January 1, 2012 $ 10,000,000 April 1, 2012 $ 10,000,000 July 1, 2012 $ 10,000,000 October 1 2012 $ 10,000,000 January 1, 2013 $ 57,500,000 (or all outstanding principal if not sooner paid)

Appears in 1 contract

Samples: Credit Agreement (Westinghouse Air Brake Technologies Corp)

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Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. The obligations of each Lender to make Term Loans to the Company Borrower shall be in the proportion that such Lender’s Term Loan Commitment bears to the Term Loan Commitments of all Lenders to the CompanyBorrower, but each Lender’s Term Loan to the Company Borrower shall never exceed its Term Loan Commitment. The failure of any Lender to make a Term Loan shall not relieve any other Lender of its obligations to make a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Company Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loans hereunderLoan Commitments]. The Term Loans shall be paid by the Company payable in nineteen consecutive quarterly installments of principal as set forth below, and each Lender making a Term Loan shall receive from the Company installments equal to such Lender’s Pro Rata Share of the following principal installments of the Term Loans: [Term Loan installment payment schedule begins on the next page] - 27 - Payment Datefirst day of each October, January, April and July as follows: Principal Amount (i) four quarterly principal payments, each in the amount of Installment: $1,250,000, on October 1, 2013, January 1, 2009 $ 7,500,000 2014, April 1, 2009 $ 7,500,000 2014 and July 1, 2009 $ 7,500,000 2014; (ii) four quarterly principal payments, each in the amount of $1,875,000, on October 1 2009 $ 7,500,000 1, 2014, January 1, 2010 $ 8,125,000 2015, April 1, 2010 $ 8,125,000 2015 and July 1, 2010 $ 8,125,000 2015; (iii) eleven quarterly principal payments, each in the amount of $2,500,000, commencing on October 1 2010 $ 8,125,000 January 1, 2011 $ 10,000,000 2015 and continuing on the first day of January, April, July and October thereafter through and including April 1, 2011 $ 10,000,000 July 12018, 2011 $ 10,000,000 October 1 2011 $ 10,000,000 January 1, 2012 $ 10,000,000 April 1, 2012 $ 10,000,000 July 1, 2012 $ 10,000,000 October 1 2012 $ 10,000,000 January 1, 2013 $ 57,500,000 (or with all outstanding remaining principal if not sooner paid)on the Term Loans due and payable on the Expiration Date.

Appears in 1 contract

Samples: Credit Agreement (Advanced Drainage Systems, Inc.)

Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. The obligations of each Lender to make Term Loans to the Company Borrowers shall be in the proportion that such Lender’s Term Loan Commitment bears to the Term Loan Commitments of all Lenders to the CompanyBorrowers, but each Lender’s Term Loan to the Company Borrowers shall never exceed its Term Loan Commitment. The failure of any Lender to make a Term Loan shall not relieve any other Lender of its obligations to make a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Company Borrowers shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loans hereunderLoan Commitments]. The principal balance of the Term Loans shall be paid by the Company due and payable in consecutive quarterly installments of principal determined by, and as set forth belowin, the table set forth below (subject, however, to adjustment for voluntary prepayments as set forth in Section 5.6 [Voluntary Prepayments] and each Lender making a Term Loan shall receive from the Company installments equal to such Lender’s Pro Rata Share of the following principal installments of the Term Loans: mandatory prepayments as set forth in Section 5.7 [Term Loan installment payment schedule begins on the next page] - 27 - Payment Date: Principal Mandatory Prepayments]): Amount of Installment: January 1Term Date of Payment of Installment Loan Repayment Year 1 December 31, 2009 $ 7,500,000 April 12020 $1,750,000.00 March 31, 2009 $ 7,500,000 July 12021 $1,750,000.00 June 30, 2009 $ 7,500,000 October 1 2009 $ 7,500,000 January 12021 $1,750,000.00 September 30, 2010 $ 8,125,000 April 12021 $1,750,000.00 Year 2 December 31, 2010 $ 8,125,000 July 12021 $1,750,000.00 March 31, 2010 $ 8,125,000 October 1 2010 $ 8,125,000 January 12022 $1,750,000.00 June 30, 2011 $ 10,000,000 April 12022 $1,750,000.00 September 30, 2011 $ 10,000,000 July 12022 $1,750,000.00 Year 3 December 31, 2011 $ 10,000,000 October 1 2011 $ 10,000,000 January 12022 $2,187,500.00 March 31, 2012 $ 10,000,000 April 12023 $2,187,500.00 June 30, 2012 $ 10,000,000 July 12023 $2,187,500.00 September 30, 2012 $ 10,000,000 October 1 2012 $ 10,000,000 January 12023 $2,187,500.00 Year 4 December 31, 2013 $ 57,500,000 (or all outstanding principal if not sooner paid)2023 $2,187,500.00 March 31, 2024 $2,187,500.00 June 30, 2024 $2,187,500.00 September 30, 2024 $2,187,500.00 {N0289348 2 } 50

Appears in 1 contract

Samples: Credit Agreement (DLH Holdings Corp.)

Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. The obligations of each Term Loan Lender to make a Term Loans Loan to the Company Borrowers shall be in the proportion that such Term Loan Lender’s Term Loan Commitment bears to the Term Loan Commitments of all Term Loan Lenders to the CompanyBorrowers, but each Term Loan Lender’s Term Loan to the Company Borrowers shall never not exceed its Term Loan Commitment. The failure of any Term Loan Lender to make a Term Loan shall not relieve any other Term Loan Lender of its obligations to make a Term Loan nor shall it impose any additional liability on any other Term Loan Lender hereunder. The Term Loan Lenders shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Company Borrowers shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loans hereunderLoan Commitments]. The principal amount of the Term Loans shall be paid by payable in aggregate quarterly installments on the Company in installments of principal as dates set forth belowbelow (or if any such day is not a Business Day, and each Lender making a Term Loan shall receive from on the Company installments next succeeding Business Day) equal to the percentage set forth below for such Lender’s Pro Rata Share date of the following aggregate principal installments amount of Term Loans outstanding on the Closing Date: Due Date Payment Amount July 5, 2011 1.250 % October 5, 2011 1.250 % January 5, 2012 1.250 % April 5, 2012 1.250 % July 5, 2012 1.250 % October 5, 2012 1.250 % January 5, 2013 1.250 % April 5, 2013 1.250 % July 5, 2013 2.500 % October 5, 2013 2.500 % January 5, 2014 2.500 % April 5, 2014 2.500 % July 5, 2014 2.500 % October 5, 2014 2.500 % January 5, 2015 2.500 % April 5, 2015 2.500 % July 5, 2015 2.500 % October 5, 2015 2.500 % January 5, 2016 2.500 % with a final payment due on the Expiration Date equal to the total outstanding principal amount of the Term Loans: [Term , all accrued, but unpaid, interest thereon and all fees and other amounts owing under the Loan installment payment schedule begins on the next page] - 27 - Payment Date: Principal Amount of Installment: January 1, 2009 $ 7,500,000 April 1, 2009 $ 7,500,000 July 1, 2009 $ 7,500,000 October 1 2009 $ 7,500,000 January 1, 2010 $ 8,125,000 April 1, 2010 $ 8,125,000 July 1, 2010 $ 8,125,000 October 1 2010 $ 8,125,000 January 1, 2011 $ 10,000,000 April 1, 2011 $ 10,000,000 July 1, 2011 $ 10,000,000 October 1 2011 $ 10,000,000 January 1, 2012 $ 10,000,000 April 1, 2012 $ 10,000,000 July 1, 2012 $ 10,000,000 October 1 2012 $ 10,000,000 January 1, 2013 $ 57,500,000 (or all outstanding principal if not sooner paid)Documents with respect thereto.

Appears in 1 contract

Samples: Master Lease Agreement (Gsi Commerce Inc)

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Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. The obligations of each Lender to make Term Loans to the Company Borrowers shall be in the proportion that such Lender’s Term Loan Commitment bears to the Term Loan Commitments of all Lenders to the CompanyBorrowers, but each Lender’s Term Loan to the Company Borrowers shall never exceed its Term Loan Commitment. The failure of any Lender to make a Term Loan shall not relieve any other Lender of its obligations to make a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Company Borrowers shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loans hereunderLoan Commitments]. The principal balance of the Term Loans shall be paid by the Company due and payable in consecutive quarterly installments of principal determined by, and as set forth belowin, the table set forth below (subject, however, to adjustment for voluntary prepayments as set forth in Section 5.6 [Voluntary Prepayments] and mandatory prepayments as set forth in Section 5.7 [Mandatory Prepayments]): {N0221554 } - 46 - Date of Payment of Installment Amount of Term Loan Repayment Year 1 September 30, 2019 $1,312,500.00 December 31, 2019 $1,312,500.00 March 31, 2020 $1,312,500.00 June 30, 2020 $1,312,500.00 Year 2 September 30, 2020 $1,312,500.00 December 31, 2020 $1,312,500.00 March 31, 2021 $1,312,500.00 June 30, 2021 $1,312,500.00 Year 3 September 30, 2021 $1,750,000.00 December 31, 2021 $1,750,000.00 March 31, 2022 $1,750,000.00 June 30, 2022 $1,750,000.00 Year 4 September 30, 2022 $1,750,000.00 December 31, 2022 $1,750,000.00 March 31, 2023 $1,750,000.00 June 30, 2023 $1,750,000.00 Year 5 September 30, 2023 $2,187,500.00 December 31, 2023 $2,187,500.00 March 31, 2024 $2,187,500.00 Payments of principal shall be due on the last day of each calendar quarter, beginning on September 30, 2019, as set forth above, and each Lender making a Term Loan continuing until the Expiration Date when the entire unpaid principal balance hereof and accrued interest thereon shall receive from the Company installments equal to such Lender’s Pro Rata Share of the following principal installments of the Term Loans: [Term Loan installment payment schedule begins on the next page] - 27 - Payment Date: Principal Amount of Installment: January 1, 2009 $ 7,500,000 April 1, 2009 $ 7,500,000 July 1, 2009 $ 7,500,000 October 1 2009 $ 7,500,000 January 1, 2010 $ 8,125,000 April 1, 2010 $ 8,125,000 July 1, 2010 $ 8,125,000 October 1 2010 $ 8,125,000 January 1, 2011 $ 10,000,000 April 1, 2011 $ 10,000,000 July 1, 2011 $ 10,000,000 October 1 2011 $ 10,000,000 January 1, 2012 $ 10,000,000 April 1, 2012 $ 10,000,000 July 1, 2012 $ 10,000,000 October 1 2012 $ 10,000,000 January 1, 2013 $ 57,500,000 (or all outstanding principal if not sooner paid)be due and payable in full.

Appears in 1 contract

Samples: Credit Agreement (DLH Holdings Corp.)

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