Original Term Loan Sample Clauses
The 'Original Term Loan' clause defines the initial loan amount, terms, and conditions agreed upon between the lender and borrower at the outset of a financing agreement. This clause typically specifies the principal sum, interest rate, repayment schedule, and any relevant covenants or requirements tied to the original loan. By clearly outlining these foundational terms, the clause ensures both parties have a mutual understanding of their obligations and helps prevent disputes regarding the original financing arrangement.
Original Term Loan. As of the date hereof, the aggregate outstanding principal amount of the Original Term Loans is $50,100,000. Once Term Loans are paid or prepaid, they may not be reborrowed.
Original Term Loan. On each Business Day that Collections are to be applied to repay the principal of the Prepetition Tranche A Term Loan pursuant to the Postpetition Collateral Agency Agreement, then, unless an Actionable Default has occurred and is continuing, each Original Term Lender shall be deemed to fund a term loan to the Borrowers in an amount equal to its Proportionate Share of the amount of the Collections so to be applied (all term loans made in such manner by each Original Term Lender herein collectively called the "Original Term Loan"). The Original Term Loan of each Original Term Lender shall be evidenced by a Term Note and shall be governed in all respects by the terms of this Credit Agreement and the other Credit Documents. All Collections that would otherwise be applied to repay the principal of the Prepetition Tranche A Term Loan under the Postpetition Collateral Agency Agreement shall be remitted to the LFC Funds Administrator for the account of the Borrowers in accordance with the deemed funding of the Original Term Loan under this Article 2A so long as no Actionable Default has occurred and is continuing.
1.13 Section 4.7A of the Credit Agreement is amended by deleting such section in its entirety and replacing it as follows:
Original Term Loan. Subject to all of the terms and conditions of this Agreement, each Lender severally, but not jointly, agrees to make a loan to Borrowers on the Closing Date, in an amount not to exceed such Lender’s Pro Rata Share of the original principal amount of $110,000,000 (each, a “Loan” and, together, the “Original Term Loan”).
Original Term Loan. The extension of credit in the original principal amount of One Million Dollars ($1,000,000) described in subsection 2.1 of the Original Loan Agreement made by Lender to the Borrowers, as consolidated, amended and restated hereby, and hereafter included within and entirely controlled by the terms of the Consolidated Loan provided that Borrowers' obligations to Lender and Lender's rights and remedies under the Original Term Loan shall be subject to the limitations set forth in paragraph 1.13.
Original Term Loan. The Original Term Loan, as evidenced by the Original Term Loan Note, continues to be outstanding as of the Restatement Date. The Borrower and Lenders acknowledge that the amount of the Original Term Loan Principal Debt on the Restatement Date is $28,250,000.00. On and after the Restatement Date, this Agreement will govern the respective rights, duties and obligations of the Borrower, Administrative Agent and Lenders with respect to the Original Term Loan but the Original Term Loan will continue to be evidenced by the Original Term Loan Note and the Original Term Loan shall mature on the applicable Maturity Date. If all or a portion of the Original Term Loan Principal Debt is paid or prepaid, then the amount so paid or prepaid may not be reborrowed. From and after the Restatement Date, interest shall accrue on the Original Term Loan at the Adjusted Base Rate, as further provided in Section 2.07.
Original Term Loan. 1. Outstanding Principal Balance of Original Term Loan (including Additional PIK Interest) outstanding prior to the repayment referred to herein: $__________
2. Amount of repayment: $__________
3. Date of repayment: _______________, 20__.
Original Term Loan. The Original Lender shall be deemed to have irrevocably assigned, without representation, warranty or recourse of any kind whatsoever (except as expressly provided in Section 10.19(d)) to each Other Initial Lender, and each Other Initial Lender shall be deemed to have irrevocably acquired from the Original Lender, a portion of the principal amount of the Original Term Loan of the Original Lender outstanding under the Original Loan Agreement on the Amendment Effective Date (before giving effect to this Agreement) such that, after giving immediate effect to such deemed assignments, each of the Original Lender and the Original Initial Lenders shall be deemed to hold, respectively, an Original Term Loan (each being referred to as an “Original Initial Term Loan”) in the principal amount set forth opposite its name on Schedule 10.19(b)(i)(A). On the Amendment Effective Date, after giving immediate effect to such deemed assignments, the Original Initial Term Loans shall continue as Term Loans hereunder and shall be deemed to be made hereunder. Each Other Initial Lender shall, on the Amendment Effective Date, fund to the Original Lender the principal amount of the Original Term Loan so assigned to it.
Original Term Loan. The Original Term Loan Lender (severally and not jointly) funded its Original Term Loan on the Original Closing Date, as evidenced by the Original Term Loan Note. The Original Term Loan Lender shall have no obligation to readvance any amounts repaid in respect to the Original Term Loan.
Original Term Loan. Prior to the Restatement Date, the Lenders (or their predecessors in interest) made term loans to the Borrowers (collectively, the “Original Term Loan”) pursuant to the Existing Term Loan Agreement. As of the Restatement Date, the aggregate principal amount of the Original Term Loan outstanding is $112,919,200.00.