New Money Loans. Subject to the terms and conditions set forth herein and in the DIP Order, (i) each New Money Lender agrees, severally and not jointly, to make first-lien term loans in Dollars to the Company on the Closing Date, in an amount equal to such Lender’s Commitment (each a “New Money Loan”). Each New Money Lender will fund New Money Loans at a discount such that the principal amount disbursed in cash is equal to 99% of such Lender’s Commitment; provided that, notwithstanding the foregoing, interest with respect to the New Money Loans will accrue on the full principal amount of New Money Loans and the full principal amount of New Money Loans will be due on the Termination Date before the application of such discount. Each Borrowing shall consist of Loans of the same Type made on the same day by the Lenders ratably according to their respective Commitments. Any unused Commitments at the Closing shall terminate concurrently with the occurrence of the Closing.
New Money Loans. Subject to the terms and conditions set forth herein and in the DIP Order, (i) each First Lien First OutNew Money Lender agrees, severally and not jointly, to make first-lien first out term loans in Dollars to the Company on the Closing Date, in an amount equal to such Lender’s First Lien First Out Commitment (each a “First Lien First OutNew Money Loan”) and (ii) each First Lien Last Out Lender agrees, severally and not jointly, to make first-lien last out term loans in Dollars to the Company on the Closing Date, in an amount equal to such Lender’s First Lien Last Out Commitment (each a “First Lien Last Out Loan”).”). Each First Lien Last OutNew Money Lender will fund First Lien Last OutNew Money Loans at a discount such that the principal amount disbursed in cash is equal to 9899% of such Lender’s First Lien Last Out Commitment; provided that, notwithstanding the foregoing, interest with respect to the First Lien Last OutNew Money Loans will accrue on the full principal amount of First Lien Last OutNew Money Loans and the full principal amount of First Lien Last OutNew Money Loans will be due on the Termination Date before the application of such discount. Borrowing shall consist of Loans of the same Type made on the same day by the Lenders ratably Each according to their respective Commitments. Any unused Commitments at the Closing shall terminate concurrently with the occurrence of the Closing.
New Money Loans. (i) Subject to the satisfaction of the applicable conditions precedent set forth in Sections 4.1 and 4.2 as well as the DIP Draw Conditions, and subject further to the other terms hereof, and relying upon the representations and warranties set forth herein, the Lenders agree to severally, but not jointly, make the following New Money Loans to the Borrower (unless the Termination Date shall have occurred):
New Money Loans. Subject to the terms and conditions set forth herein and in the Orders, each New Money Lender severally agrees to make the following New Money Loans to the Borrower; provided, however, that the aggregate principal amount of all New Money Loans funded by such New Money Lender shall not exceed such Xxxxxx’s Commitment:
New Money Loans. Each Lender severally agrees to lend to the Borrower (in respect of its New Money Loan Commitment) on the Effective Date an amount not exceeding its New Money Loan Commitment. The amount of each Lender’s New Money Loan Commitment is set forth on Schedule I hereto and the aggregate amount of New Money Loan Commitments for all Lenders is $10,000,000 (New Money Loans repaid or prepaid may not be reborrowed);
New Money Loans. (a) Subject to the Approved Budget, and the satisfaction of the conditions precedent set forth in Section 6, and subject further to the other terms and conditions hereof, and relying upon the representations and warranties set forth herein, the Lenders agree to severally, but not jointly, make the following New Money Loans to the Borrower (unless the Termination Date shall have occurred):
New Money Loans. Pursuant to an appropriately delivered Borrowing Request or Continuation/Conversion Notice, interest on the NM Loans will be payable by the Borrower on the last Business Day of each fiscal month, at a rate per annum equal to, at the Borrower’s option depending upon whether it has selected LIBO Rate Loans or Base Rate Loans, respectively, in accordance with the requirements of this Agreement: (i) 10.00% per annum, plus the Adjusted LIBO Rate, or (ii) 9.00% per annum plus the greater of (A) the Adjusted Base Rate from time to time in effect, or (B) the Adjusted LIBO Rate (the rate described in this sub paragraph (ii), the “ABR Rate”). Interest shall be payable by the Borrower from and including the first Business Day of the calendar month to (but not including) the last Business Day of each calendar month at the interest rate as determined in this subparagraph.
New Money Loans. Subject to the terms and conditions hereof and the DIP Order, each Term Lender severally agrees, solely to the extent requested by the Borrower pursuant to Section 2.2, (i) to make a term loan in a single drawing to the Borrower on any Business Day between the fifth Business Day and the tenth Business Day following the Closing Date (such date, if any, the “Initial Funding Date”) in an amount not to exceed the amount of the Initial Term Commitment of such Lender (the “Initial Term Loans”) and (ii) to make term loans in up to two drawings to the Borrower on any Business Day between the fifth Business Day and the fifteenth Business Day following the date on which the Final Order is entered (such fifteenth Business Day, the “Term Loan Commitment Expiry Date”) in an amount not to exceed the aggregate amount of (x) the Subsequent Term Commitment plus (y) to the extent not otherwise drawn on the Initial Funding Date, the remaining amount (if any) of the Initial Term Commitment (“Subsequent Term Loans” and, together with the Initial Term Loans, the “Term Loans”; the date of each Subsequent Term Loan is referred to as a “Subsequent Term Loan Funding Date”). The Term Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 4.3 (provided that the Initial Term Loans shall initially be Base Rate Loans). Any unused Term Commitments on the Term Loan Commitment Expiry Date shall terminate concurrently with the occurrence of the Term Loan Commitment Expiry Date.
New Money Loans. The obligation of each Bank to make any Loan that would increase the aggregate outstanding principal amount of the Loans over the aggregate principal amount of the Loans outstanding immediately prior to the making of such Loan is subject to the further condition precedent that the warranties of the Company contained in Sections 9.5 and 9.6 are true and correct as of the date of such requested Loan with the same effect as though made on the date of such Loan; provided, however, that for purposes of the warranties contained in Section 9.5 and Section 9.6, the date of the referenced audited fiscal year-end financial statements and Form 10-K of the Company shall be that last furnished to the Banks with respect to a requested extension of the Termination Date pursuant to Section 2.4 and which such extension was accepted by the Required Banks.
New Money Loans
