Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. (i) The obligations of each Lender to make an Initial Term Loan to the Borrower shall equal its Ratable Share of the requested Initial Term Loans; provided that no Lender’s Initial Term Loan to the Borrower shall exceed its Term Loan Commitment in effect on the Closing Date. The failure of any Lender to make an Initial Term Loan shall not relieve any other Lender of its obligations to make an Initial Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make the Initial Term Loans hereunder after the Closing Date, and any portion of the Initial Term Loan Commitment not drawn on the Closing Date shall automatically expire. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments]. (ii) The Borrower shall repay to the applicable Lenders the aggregate principal amount of all Initial Term Loans outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.6 [Voluntary Prepayments] and Section 5.7 [Mandatory Prepayments]): Date Amount April 2, 2021 $2,500,000 July 2, 2021 $2,500,000 October 1, 2021 $2,500,000 December 31, 2021 $2,500,000 April 1, 2022 $3,750,000 July 1, 2022 $3,750,000 September 30, 2022 $3,750,000 December 30, 2022 $3,750,000 March 31, 2023 $3,750,000 June 30, 2023 $3,750,000 September 29, 2023 $3,750,000 December 29, 2023 $3,750,000 March 29, 2024 $5,000,000 June 28, 2024 $5,000,000 September 27, 2024 $5,000,000 December 27, 2024 $5,000,000 March 28, 2025 $5,000,000 June 27, 2025 $5,000,000 September 26, 2025 $5,000,000 provided, however, that the final principal repayment installment of the Initial Term Loans shall be repaid on the Term Loan Maturity Date applicable to the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date.
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Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. (ia) The obligations of each Lender to make an Initial Term Loan Loans to the Borrower shall equal its Ratable Share of the requested Initial Term LoansLoan; provided that no Lender’s Initial Term Loan to the Borrower shall exceed its Term Loan Commitment in effect on the Closing DateCommitment. The failure of any Lender to make an Initial a Term Loan shall not relieve any other Lender of its obligations to make an Initial a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make the Initial Term Loans hereunder after the Closing Funding Date, and any portion of the Initial Term Loan Commitment not drawn on the Closing Funding Date shall automatically expire. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments]3.1.
(iib) The Borrower shall repay to the applicable Lenders the aggregate principal amount of all Initial Term Loans outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.6 [Voluntary Prepayments] 5.2 and Section 5.7 [Mandatory Prepayments]5.3): Date Amount April 2December 31, 2021 $$ 2,500,000 July 2March 31, 2021 $2022 $ 2,500,000 October 1June 30, 2021 $2022 $ 2,500,000 September 30, 2022 $ 2,500,000 December 31, 2021 $2022 $ 2,500,000 April 1, 2022 $3,750,000 July 1, 2022 $3,750,000 September 30, 2022 $3,750,000 December 30, 2022 $3,750,000 March 31, 2023 $3,750,000 $ 2,500,000 June 30, 2023 $3,750,000 $ 2,500,000 September 2930, 2023 $3,750,000 $ 2,500,000 December 2931, 2023 $3,750,000 $ 2,500,000 March 2931, 2024 $5,000,000 $ 2,500,000 June 2830, 2024 $5,000,000 $ 2,500,000 September 2730, 2024 $5,000,000 $ 2,500,000 December 2731, 2024 $5,000,000 $ 2,500,000 March 2831, 2025 $5,000,000 $ 2,500,000 June 2730, 2025 $5,000,000 $ 2,500,000 September 2630, 2025 $5,000,000 $ 2,500,000 December 31, 2025 $ 2,500,000 March 31, 2026 $ 2,500,000 June 30, 2026 $ 2,500,000 provided, however, that the final principal repayment installment of the Initial Term Loans shall be repaid on the Term Loan Maturity Date applicable to the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date.
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Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. (ia) The obligations of each Lender to make an Initial Term Loan Loans to the Borrower shall equal its Ratable Share of the requested Initial Term LoansLoan; provided that no Lender’s Initial Term Loan to the Borrower shall exceed its Term Loan Commitment in effect on the Closing DateCommitment. The failure of any Lender to make an Initial a Term Loan shall not relieve any other Lender of its obligations to make an Initial a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make the Initial Term Loans hereunder after the Closing Funding Date, and any portion of the Initial Term Loan Commitment not drawn on the Closing Funding Date shall automatically expire. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments]3.1.
(iib) The Borrower shall repay to the applicable Lenders the aggregate principal amount of all Initial Term Loans outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.6 [Voluntary Prepayments] 5.2 and Section 5.7 [Mandatory Prepayments]5.3): Date Amount April 2, 2021 $2,500,000 July 2, 2021 $2,500,000 October 1, 2021 $2,500,000 December 31, 2021 $2,500,000 April 1$ 1,875,000 March 31, 2022 $3,750,000 July 1$ 1,875,000 June 30, 2022 $3,750,000 $ 1,875,000 September 30, 2022 $3,750,000 $ 1,875,000 December 3031, 2022 $3,750,000 $ 1,875,000 March 31, 2023 $3,750,000 $ 1,875,000 June 30, 2023 $3,750,000 $ 1,875,000 September 2930, 2023 $3,750,000 $ 1,875,000 December 2931, 2023 $3,750,000 $ 1,875,000 March 2931, 2024 $5,000,000 $ 1,875,000 June 2830, 2024 $5,000,000 $ 1,875,000 September 2730, 2024 $5,000,000 $ 1,875,000 December 2731, 2024 $5,000,000 $ 1,875,000 March 2831, 2025 $5,000,000 $ 1,875,000 June 2730, 2025 $5,000,000 $ 1,875,000 September 2630, 2025 $5,000,000 $ 1,875,000 December 31, 2025 $ 1,875,000 March 31, 2026 $ 1,875,000 June 30, 2026 $ 1,875,000 provided, however, that the final principal repayment installment of the Initial Term Loans shall be repaid on the Term Loan Maturity Date applicable to the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date.
Appears in 1 contract
Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. (i) The obligations of each Lender to make an Initial Term Loan to the Borrower shall equal its Ratable Share of the requested Initial Term Loans; provided that no Lender’s Initial Term Loan to the Borrower shall exceed its Term Loan Commitment in effect on the Closing Date. The failure of any Lender to make an Initial Term Loan shall not relieve any other Lender of its obligations to make an Initial Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make the Initial Term Loans hereunder after the Closing Date, and any portion of the Initial Term Loan Commitment not drawn on the Closing Date shall automatically expire. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].
(ii) The Borrower shall repay to the applicable Lenders the aggregate principal amount of all Initial Term Loans outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.6 [Voluntary Prepayments] and Section 5.7 [Mandatory Prepayments]): Date Amount April 2September 28, 2021 $2,500,000 July 2, 2021 $2,500,000 October 1, 2021 $2,500,000 December 31, 2021 $2,500,000 April 1, 2022 $3,750,000 July 1, 2022 $3,750,000 September 30, 2022 2024 $3,750,000 December 3028, 2022 $3,750,000 March 31, 2023 $3,750,000 June 30, 2023 $3,750,000 September 29, 2023 $3,750,000 December 29, 2023 2024 $3,750,000 March 29, 2024 2025 $5,000,000 3,750,000 June 28, 2024 $5,000,000 September 27, 2024 $5,000,000 December 27, 2024 $5,000,000 March 28, 2025 $5,000,000 June 3,750,000 September 27, 2025 $5,000,000 3,750,000 January 3, 2026 $3,750,000 April 4, 2026 $3,750,000 July 4, 2026 $5,625,000 October 3, 2026 $5,625,000 January 2, 2027 $5,625,000 April 3, 2027 $5,625,000 July 3, 2027 $5,625,000 October 2, 2027 $5,625,000 January 1, 2028 $5,625,000 April 1, 2028 $5,625,000 July 1, 2028 $7,500,000 September 2630, 2025 2028 $5,000,000 7,500,000 December 30, 2028 $7,500,000 March 31, 2029 $7,500,000 provided, however, that the final principal repayment installment of the Initial Term Loans shall be repaid on the Term Loan Maturity Date applicable to the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date.
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Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. (i) The obligations of each Lender to make an Initial Term Loans to the Borrowers shall be in the proportion that such Lender’s Term Loan Commitment bears to the Term Loan Commitments of all Lenders to the Borrowers, but each Lender’s Term Loan to the Borrower Borrowers shall equal its Ratable Share of the requested Initial Term Loans; provided that no Lender’s Initial Term Loan to the Borrower shall never exceed its Term Loan Commitment in effect on the Closing DateCommitment. The failure of any Lender to make an Initial a Term Loan shall not relieve any other Lender of its obligations to make an Initial a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make the Initial Term Loans hereunder after the Closing Date, and any portion of the Initial Term Loan Commitment not drawn on the Closing Date shall automatically expire. The Term Loan Commitments are not revolving credit commitments, and the Borrower Borrowers shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].
(ii) . The Borrower shall repay to principal balance of the applicable Lenders the aggregate principal amount of all Initial Term Loans outstanding on the following dates shall be due and payable in the respective amounts consecutive quarterly installments determined by, and as set forth opposite such dates in, the table set forth below (which amounts shall be reduced subject, however, to adjustment for voluntary prepayments as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.6 [Voluntary Prepayments] and mandatory prepayments as set forth in Section 5.7 [Mandatory Prepayments]): Amount of Term Date Amount April 2of Payment of Installment Loan Repayment Year 1 December 31, 2020 $1,750,000.00 March 31, 2021 $2,500,000 July 21,750,000.00 June 30, 2021 $2,500,000 October 11,750,000.00 September 30, 2021 $2,500,000 1,750,000.00 Year 2 December 31, 2021 $2,500,000 April 11,750,000.00 March 31, 2022 $3,750,000 July 11,750,000.00 June 30, 2022 $3,750,000 1,750,000.00 September 30, 2022 $3,750,000 1,750,000.00 Year 3 December 3031, 2022 $3,750,000 2,187,500.00 March 31, 2023 $3,750,000 2,187,500.00 June 30, 2023 $3,750,000 2,187,500.00 September 2930, 2023 $3,750,000 2,187,500.00 Year 4 December 2931, 2023 $3,750,000 2,187,500.00 March 2931, 2024 $5,000,000 2,187,500.00 June 2830, 2024 $5,000,000 2,187,500.00 September 2730, 2024 $5,000,000 December 27, 2024 $5,000,000 March 28, 2025 $5,000,000 June 27, 2025 $5,000,000 September 26, 2025 $5,000,000 provided, however, that the final principal repayment installment of the Initial Term Loans shall be repaid on the Term Loan Maturity Date applicable to the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date.2,187,500.00 {N0289348 2 } 50
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Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. (i) The obligations of each Lender to make an Initial Term Loan Loans to the Borrower Borrowers shall equal its Ratable Share of the requested Initial Term Loans; Loan, provided that no Lender’s Initial Term Loan to the Borrower Borrowers shall exceed its Term Loan Commitment in effect on the Closing DateCommitment. The failure of any Lender to make an Initial a Term Loan shall not relieve any other Lender of its obligations to make an Initial a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make the Initial Term Loans hereunder after the Second Amendment Closing Date, and any portion of the Initial Term Loan Commitment not drawn on the Second Amendment Closing Date shall automatically expire. The Term Loan Commitments are not revolving credit commitments, and the Borrower Borrowers shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].
(ii) The Borrower Subject to the limitations set forth in Section 12.14 [Foreign Loan Parties], the Borrowers shall repay to the applicable Lenders the aggregate principal amount of all Initial Term Loans outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.6 [Voluntary Prepayments] and Section 5.7 [Mandatory Prepayments]): Date Amount January 1, 2017 $ 2,307,692.31 April 21, 2021 $2,500,000 2017 $ 2,307,692.31 July 21, 2021 $2,500,000 2017 $ 2,307,692.31 October 1, 2021 $2,500,000 December 312017 $ 2,307,692.31 January 1, 2021 $2,500,000 2018 $ 2,307,692.31 April 1, 2022 $3,750,000 2018 $ 2,307,692.31 July 1, 2022 $3,750,000 September 302018 $ 2,307,692.31 October 1, 2022 $3,750,000 December 302018 $ 2,307,692.31 January 1, 2022 $3,750,000 March 312019 $ 2,307,692.31 April 1, 2023 $3,750,000 June 302019 $ 2,307,692.31 July 1, 2023 $3,750,000 September 292019 $ 2,307,692.31 October 1, 2023 $3,750,000 December 292019 $ 2,307,692.31 January 1, 2023 $3,750,000 March 29, 2024 $5,000,000 June 28, 2024 $5,000,000 September 27, 2024 $5,000,000 December 27, 2024 $5,000,000 March 28, 2025 $5,000,000 June 27, 2025 $5,000,000 September 26, 2025 $5,000,000 provided, however, that the final principal repayment installment of the Initial Term Loans shall be repaid on the Term Loan Maturity Date applicable to the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date.2020 $ 2,307,692.31
Appears in 1 contract
Samples: Credit Agreement (Foster L B Co)
Nature of Lenders’ Obligations with Respect to Term Loans; Repayment Terms. (ia) The obligations of each Lender to make an Initial Term Loan Loans to the Borrower shall equal its Ratable Share of the requested Initial Term LoansLoan; provided that no Lender’s Initial Term Loan to the Borrower shall exceed its Term Loan Commitment in effect on the Closing DateCommitment. The failure of any Lender to make an Initial a Term Loan shall not relieve any other Lender of its obligations to make an Initial a Term Loan nor shall it impose any additional liability on any other Lender hereunder. The Lenders shall have no obligation to make the Initial Term Loans hereunder after the Closing Funding Date, and any portion of the Initial Term Loan Commitment not drawn on the Closing Funding Date shall automatically expire. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments]3.1.
(iib) The Borrower shall repay to the applicable Lenders the aggregate principal amount of all Initial Term Loans outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.6 [Voluntary Prepayments] 5.2 and Section 5.7 [Mandatory Prepayments]5.3): Date Amount April 2December 31, 2021 $$ 2,500,000 July 2March 31, 2021 $2022 $ 2,500,000 October 1June 30, 2021 $2022 $ 2,500,000 September 30, 2022 $ 2,500,000 December 31, 2021 $2022 $ 2,500,000 April 1, 2022 $3,750,000 July 1, 2022 $3,750,000 September 30, 2022 $3,750,000 December 30, 2022 $3,750,000 March 31, 2023 $3,750,000 $ 2,500,000 June 30, 2023 $3,750,000 $ 2,500,000 September 2930, 2023 $3,750,000 $ 2,500,000 December 2931, 2023 $3,750,000 $ 2,500,000 March 2931, 2024 $5,000,000 $ 2,500,000 June 2830, 2024 $5,000,000 $ 2,500,000 September 2730, 2024 $5,000,000 $ 2,500,000 December 2731, 2024 $5,000,000 $ 2,500,000 March 2831, 2025 $5,000,000 $ 2,500,000 June 2730, 2025 $5,000,000 $ 2,500,000 September 2630, 2025 $5,000,000 $ 2,500,000 December 31, 2025 $ 2,500,000 March 31, 2026 $ 2,500,000 June 30, 2026 $ 2,500,000 provided, however, that the final principal repayment installment of the Initial Term Loans shall be repaid on the Term Loan Maturity Date applicable to the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date.
(c) The Borrower shall repay to the 2024 Incremental Term Loan Lenders the aggregate principal amount of the 2024 Incremental Term Loan outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of voluntary and mandatory prepayments in accordance with the order of priority set forth in Section 5.2 and Section 5.3): Date Amount June 30, 2024 $ 1,000,000 September 30, 2024 $ 1,000,000 December 31, 2024 $ 1,000,000 March 31, 2025 $ 1,000,000 June 30, 2025 $ 1,000,000 September 30, 2025 $ 1,000,000 December 31, 2025 $ 1,000,000 March 31, 2026 $ 1,000,000 June 30, 2026 $ 1,000,000 provided, however, that the final principal repayment installment of the 2024 Incremental Term Loan shall be repaid on July 23, 2026 and in any event shall be in an amount equal to the aggregate principal amount of all the 2024 Incremental Term Loans outstanding on such date.
Appears in 1 contract
Samples: Incremental Facility Amendment to Credit Agreement (Cadre Holdings, Inc.)