Principal Repayments of the Term Loans. On each Payment Date occurring on and after April 1, 2024, Borrower shall make principal payments on the Term Loans to the Agent for the pro rata benefit of the Lenders in quarterly installments equal to the sum of (x) $437,500 (such amount being equal to 1.25% of the $35,000,000 aggregate principal amount of the Closing Date Term Loans), plus (y) 1.25% of the aggregate initial principal amounts of all Delayed Draw Term Loans that have been made prior to the applicable Payment Date, which sum shall be payable on the first day of each calendar quarter (each such date, a “Payment Date”). Borrower shall repay the entire outstanding balance of the Loan on the Stated Maturity Date. Amounts repaid or prepaid on any of the Term Loans may not be reborrowed.
Appears in 2 contracts
Samples: Guarantee and Security Agreement (Williams Industrial Services Group Inc.), Loan, Guarantee and Security Agreement (Williams Industrial Services Group Inc.)
Principal Repayments of the Term Loans. On each Payment Date occurring on and after April 1, 2024, Borrower shall make principal payments on the Term Loans to the Agent for the pro rata benefit of the Lenders in quarterly installments equal to the sum of (x) $437,500 (such amount being equal to 1.25% of the $35,000,000 aggregate principal amount of the Closing Date Term Loans), plus (y) 1.25% of the aggregate initial principal amounts of all Delayed Draw Term Loans that have been made prior to the applicable Payment Date, which sum shall be payable on the first day of each calendar quarter (each such date, a “Payment Date”). Borrower shall repay the entire outstanding balance of the Loan on the Stated Maturity Date. Amounts repaid or prepaid on any of the Term Loans may not be reborrowed. .
Appears in 1 contract
Samples: Guarantee and Security Agreement (Williams Industrial Services Group Inc.)
Principal Repayments of the Term Loans. On each Payment Date occurring on and after April 1, 2024, Borrower shall make principal payments on the Term Loans to the Agent for the pro rata benefit of the Lenders in quarterly installments equal to the sum of (x) $437,500 262,500437,500 (such amount being equal to 1.250.751.25% of the $35,000,000 aggregate principal amount of the Closing Date Term Loans), plus (y) 1.250.751.25% of the aggregate initial principal amounts of all Delayed Draw Term Loans that have been made prior to the applicable Payment Date, which sum shall be payable on the first day of each calendar quarter (or, solely in the case of the calendar quarter commencing January 1, 2023, on January 9, 2023) (each such date, a “Payment Date”). Borrower shall repay the entire outstanding balance of the Loan on the Stated Maturity Date. Amounts repaid or prepaid on any of the Term Loans may not be reborrowed. .
Appears in 1 contract
Samples: Guarantee and Security Agreement (Williams Industrial Services Group Inc.)
Principal Repayments of the Term Loans. On each Payment Date occurring on and after April 1, 2024, Borrower shall make principal payments on the Term Loans to the Agent for the pro rata benefit of the Lenders in quarterly installments equal to the sum of (x) $437,500 262,500 (such amount being equal to 1.250.75% of the $35,000,000 aggregate principal amount of the Closing Date Term Loans), plus (y) 1.250.75% of the aggregate initial principal amounts of all Delayed Draw Term Loans that have been made prior to the applicable Payment Date, which sum shall be payable on the first day of each calendar quarter (each such date, a “Payment Date”). Borrower shall repay the entire outstanding balance of the Loan on the Stated Maturity Date. Amounts repaid or prepaid on any of the Term Loans may not be reborrowed.
Appears in 1 contract
Samples: And Security Agreement (Williams Industrial Services Group Inc.)
