Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date. (b) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Term Lender on each date set forth below the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) or 2.18(b)): June 30, 2017 $ 1,875,000 September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 March 31, 2018 $ 1,875,000 June 30, 2018 $ 1,875,000 September 30, 2018 $ 1,875,000 December 31, 2018 $ 1,875,000 Term Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. To the extent not previously paid, all unpaid Term Loans shall be paid in full in cash by the Borrowers on the Term Maturity Date. (c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid. (d) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. (e) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. (f) The entries made in the accounts maintained pursuant to paragraph (d) or (e) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this Agreement. (g) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form.
Appears in 1 contract
Samples: Credit Agreement (MeetMe, Inc.)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent Agent, for the account of each Revolving Lender Lender, the then unpaid principal amount of each Revolving Loan on the earlier of the Maturity Date and 180 days after such Revolving Credit Loan is made, and (ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Maturity Date and the first date after such Swingline Loan is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Loan is made; provided that on each date that a Revolving Loan is made, the Borrower shall repay all Swingline Loans then outstanding. The Borrower shall repay the Term Loans (x) in equal installments of $2,105,263 each on the last day of each March, June, September and December, commencing on December 31, 2008 and (y) on the Maturity Date, in an amount equal to the aggregate principal amount of the Term Loans that remains outstanding on such date.
(b) The Borrowers hereby unconditionally promise At all times that full cash dominion is in effect pursuant to pay to Section 7.3 of the Security Agreement, on each Business Day, at or before 11:00 a.m. (New York time), the Administrative Agent for shall apply all immediately available funds credited to the account of each Term Lender on each date set forth below the aggregate principal amount set forth opposite such date (as adjusted from time Collection Account first to time pursuant prepay any outstanding Swingline Loans, second to Section 2.11(d) or 2.18(b)): June 30prepay any outstanding Revolving Loans, 2017 $ 1,875,000 September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 March 31, 2018 $ 1,875,000 June 30, 2018 $ 1,875,000 September 30, 2018 $ 1,875,000 December 31, 2018 $ 1,875,000 Term Maturity Date The entire unpaid principal amount of all Term Loans ; provided if and third to cash collateralize any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. To the extent not previously paid, all unpaid Term Loans shall be paid in full in cash by the Borrowers on the Term Maturity Dateoutstanding LC Exposure.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(d) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ed) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fe) The entries made in the accounts maintained pursuant to paragraph Section 2.09(c) or (d) or (e) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(gf) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after any assignment by such Lender pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date in the currency of such Loan, (ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Latest Maturity Date with respect to any Revolving Credit Maturity DateCommitments and the first date after such Swingline Loan is made that is the 15th or last day of a calendar month and is at least two (2) Business Days after such Swingline Loan is made; provided that on each date that a Dollar Tranche Revolving Borrowing is made, the Borrowers shall repay all Swingline Loans then outstanding.
(b) The Borrowers hereby unconditionally promise to pay to Beginning June 30, 2021, the Administrative Agent for the account Lux Borrower shall repay principal of each outstanding 2021 Term Lender Loans on each date set forth Scheduled Principal Repayment Date described below in the aggregate principal amount set forth described opposite such date Scheduled Principal Repayment Date (as adjusted from time to time pursuant to Section 2.11(dSections 2.11(a), 2.11(d)(i), 2.20, 2.24, 2.25, 9.04(g) or 2.18(band 9.04(k)): June 30, 2017 $ 1,875,000 September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 March 31, 2018 $ 1,875,000 June 30, 2018 $ 1,875,000 September 30, 2018 $ 1,875,000 December 31, 2018 $ 1,875,000 Term Maturity Scheduled Principal Repayment Dates Amount Each Scheduled Principal Repayment Date The entire unpaid 0.25% of the aggregate principal amount of all 2021 Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable incurred on the Business Day immediately preceding such date. Restatement Effective Date Maturity Date All remaining outstanding principal of 2021 Term Loans To the extent not previously paidrepaid, all unpaid 2021 Term Loans shall be paid in full in cash Dollars by the Borrowers relevant Borrower on the Term applicable Maturity Date. To the extent specified in the applicable Extension Offer, amortization payments with respect to Extended Term Loans for periods prior to the then current Maturity Date for any applicable Term Loans may be reduced (but not increased) and amortization payments required with respect to Extended Term Loans for periods after such applicable Maturity Date shall be as specified in the applicable Extension Offer.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(d) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ed) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class Tranche under which it was made, the Class, Agreed Currency and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers respective Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fe) The entries made in the accounts maintained pursuant to paragraph (dc) or (ed) of this Section 2.10 shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this Agreement.
(gf) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare, execute and deliver to such Lender a promissory note notes payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note notes and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Endo International PLC)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date, and (ii) to the Administrative Agent for the account of the Swingline Lenders the then unpaid principal amount of each Swingline Loan on the earlier of the Maturity Date and the fifth Business Days after such Swingline Loan is made; provided that on each date that a Revolving Borrowing is made, the Borrower shall repay all Swingline Loans then outstanding and the proceeds of any such Borrowing shall be applied by the Administrative Agent to repay any Swingline Loans outstanding.
(b) The Borrowers Commencing on the earlier of (i) the last day of the first full calendar quarter ending after the termination of all the Term Loan Commitments and (ii) the expiration of the Term Loan Availability Period, the Borrower hereby unconditionally promise promises to pay in Dollars to the Administrative Agent for the account of each Term Lender on the last day of each date set forth below calendar quarter (each, an “Amortization Payment Date”) an amount equal to the product of the original aggregate principal amount set forth opposite of all Term Loans funded hereunder multiplied by the Term Loan Amortization Rate applicable for such date Amortization Payment Date if such Amortization Payment Date is applicable (as adjusted from time to time pursuant to Section 2.11(d) or 2.18(b)): June 30, 2017 $ 1,875,000 September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 March 31, 2018 $ 1,875,000 June 30, 2018 $ 1,875,000 September 30, 2018 $ 1,875,000 December 31, 2018 $ 1,875,000 Term Maturity Date The entire unpaid principal amount of all Term Loans ); provided that, if any date set forth above below is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. To the extent not previously paid, all unpaid Term Loans shall be paid in full in cash in dollars by the Borrowers Borrower on the Term Maturity Date.
(c) Prior . As used herein, “Term Loan Amortization Rate” means, with respect to any repayment of any Term Loan Borrowings of any Class under this SectionAmortization Payment Date, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included percentage set forth in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(d) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers to table below opposite such Lender resulting from each Loan made by such LenderAmortization Payment Date: Date Amount December 31, including the amounts of 2022 1.875 % March 31, 2023 1.875 % June 30, 2023 1.875 % September 30, 2023 1.875 % December 31, 2023 1.875 % March 31, 2024 1.875 % June 30, 2024 1.875 % September 30, 2024 2.50 % December 31, 2024 2.50 % March 31, 2025 2.50 % June 30, 2025 2.50 % September 30, 2025 2.50 % December 31, 2025 2.50 % March 31, 2026 2.50 % June 30, 2026 2.50 % September 30, 2026 2.50 % December 31, 2026 2.50 % March 31, 2027 2.50 % June 30, 2027 2.50 % Maturity Date The entire unpaid principal and interest payable and paid to such Lender from time to time hereunder.
(e) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(f) The entries made in the accounts maintained pursuant to paragraph (d) or (e) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this Agreement.
(g) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form.Term Loans
Appears in 1 contract
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date.
(b) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Term Lender Borrower shall repay Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) 2.11 or 2.18(b)2.20): March 31, 2019 $3,750,000 June 30, 2017 $ 1,875,000 2019 $3,750,000 September 30, 2017 $ 1,875,000 2019 $3,750,000 December 31, 2017 $ 1,875,000 2019 $3,750,000 March 31, 2018 $ 1,875,000 2020 $3,750,000 June 30, 2018 $ 1,875,000 2020 $3,750,000 September 30, 2018 $ 1,875,000 2020 $3,750,000 December 31, 2018 $ 1,875,000 Term Maturity Date The entire unpaid principal amount 2020 $3,750,000 March 31, 2021 and the last day of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. each calendar quarter ending thereafter $7,500,000 To the extent not previously paidrepaid, all unpaid Term Loans shall be paid in full in cash by the Borrowers Borrower on the Term Maturity Date, unless accelerated sooner pursuant to Article VII.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded thereintherein absent demonstrable error; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this AgreementObligations.
(ge) Any Lender may request that Loans made by it to the Borrower be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered permitted assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the payee named therein (or, if any such promissory note is a registered note, to such payee and its registered permitted assigns).
Appears in 1 contract
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date.
(b) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for Lender the account principal amount of Term A Loan as follows: (i) on the last Business Day of each Term Lender on March, June, September and December, commencing with the last Business Day of September, 2015, in consecutive quarterly principal installments each date set forth below in the aggregate principal amount set forth opposite such date of $965,000.00 (as adjusted from time to time pursuant to Section 2.11(d2.09(d) or 2.18(b2.16(b)): June 30, 2017 $ 1,875,000 September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 March 31, 2018 $ 1,875,000 June 30, 2018 $ 1,875,000 September 30, 2018 $ 1,875,000 December 31, 2018 $ 1,875,000 Term Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due ) and payable on the Business Day immediately preceding such date. To (ii) to the extent not previously paid, all unpaid Term A Loans shall be paid in full in cash by the Borrower on the Term A Maturity Date.
(c) The Borrowers hereby unconditionally promise to pay to the Lender the principal amount of Term B Loan as follows: (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of March, 2016, in consecutive quarterly principal installments as follows: (x) the first eight quarterly principal installments shall each be in an amount equal to 3.575% of the principal balance of Term B Loan as of the Term B Draw Expiration Date, and (y) the next eight quarterly principal installments shall each be in an amount equal to 4.475% of the principal balance of Term B Loan as of the Term B Draw Expiration Date (as adjusted from time to time pursuant to Section 2.09(d) or 2.16(b)) and (ii) to the extent not previously paid, all unpaid Term B Loans shall be paid in full in cash by the Borrowers on the Term B Maturity Date.
(cd) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent Lender by telephone (confirmed by faxfax or by electronic communication, if arrangements for doing so have been approved by the Lender) of such selection not later than 11:00 a.m., Eastern Detroit time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(de) Each The Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers to such the Lender resulting from each Loan made by such the Lender, including the amounts of principal and interest payable and paid to such the Lender from time to time hereunder.
(ef) The Administrative Agent Lender shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers to each the Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereofLender hereunder.
(fg) The entries made in the accounts maintained pursuant to paragraph (de) or (ef) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any the Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this Agreement.
(gh) Any The Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare, execute and deliver to such the Lender a promissory note payable to such the Lender (or, if requested by such the Lender, to such the Lender and its registered assigns) and in a form approved by the Administrative AgentLender. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.048.04) be represented by one or more promissory notes in such formform payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date.
(b) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Term Lender Borrower shall repay Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) 2.11 or 2.18(b)2.20): Date Amount March 31, 2019 $3,750,000 June 30, 2017 $ 1,875,000 2019 $3,750,000 September 30, 2017 $ 1,875,000 2019 $3,750,000 December 31, 2017 $ 1,875,000 2019 $3,750,000 March 31, 2018 $ 1,875,000 2020 $3,750,000 June 30, 2018 $ 1,875,000 2020 $3,750,000 September 30, 2018 $ 1,875,000 2020 $3,750,000 December 31, 2018 $ 1,875,000 Term Maturity Date The entire unpaid principal amount 2020 $3,750,000 March 31, 2021 and the last day of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. To the extent not previously paid, all unpaid Term Loans shall be paid in full in cash by the Borrowers on the Term Maturity Date.each calendar quarter ending thereafter $7,500,000
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded thereintherein absent demonstrable error; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this AgreementObligations.
(ge) Any Lender may request that Loans made by it to the Borrower be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered permitted assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the payee named therein (or, if any such promissory note is a registered note, to such payee and its registered permitted assigns).
Appears in 1 contract
Samples: Asset Purchase Agreement
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date.
, and (bii) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for Swingline Lender the account then unpaid principal amount of each Swingline Loan on or before the fifth (5th) Business Day after the date on which such Swingline Loan is made or such later date to which the Swingline Lender and the Borrower agree and, in any event, on the Revolving Credit Maturity Date. The Borrower shall repay the Tranche A Term Lender Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) or 2.18(b2.11(e)): Date Amount June 30, 2017 2009 $ 1,875,000 56,250,000 September 30, 2017 2009 $ 1,875,000 56,250,000 December 31, 2017 2009 $ 1,875,000 56,250,000 March 31, 2018 2010 $ 1,875,000 56,250,000 June 30, 2018 2010 $ 1,875,000 56,250,000 September 30, 2018 2010 $ 1,875,000 56,250,000 December 31, 2018 2010 $ 1,875,000 Term 56,250,000 March 31, 2011 $ 56,250,000 June 30, 2011 $ 262,500,000 September 30, 2011 $ 262,500,000 December 31, 2011 $ 262,500,000 Revolving Credit Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. $ 262,500,000 To the extent not previously paid, all unpaid Tranche A Term Loans shall be paid in full in cash by the Borrowers Borrower on the Revolving Credit Maturity Date. In addition, the Borrower shall repay the Tranche B Term Loans on the last day of each calendar quarter (commencing with the calendar quarter ending on or about June 30, 2007) in an aggregate principal amount equal to $4,500,000 (as adjusted from time to time pursuant to Section 2.11(e)). To the extent not previously paid, all unpaid Tranche B Term Loans shall be paid in full in cash by the Borrower on the Tranche B Maturity Date.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded thereintherein absent manifest error; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(ge) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Samples: Credit Agreement (Dean Foods Co)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Revolver Maturity Date.
, (bii) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account then unpaid amount of each Term Protective Advance on the earlier of the Revolver Maturity Date and demand by the Administrative Agent, and (iii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Revolver Maturity Date and the first date after such Swingline Loan is made that is the 15th or last day of a calendar month and is at least two Business Days after such Swingline Loan is made; provided that on each date set forth below that a Revolving Loan is made, the Borrower shall repay all Swingline Loans then outstanding. The Borrower shall repay the Term Loans on the first Business Day of the month starting June 1, 2011, in (x) the aggregate principal amount set forth opposite of $36,000.00 as to each such date payment in regard to Term Loan 1 (as adjusted from time to time pursuant to Section 2.11(dthe “Term Loan 1 Payment Amount”) or 2.18(b)): June 30, 2017 $ 1,875,000 September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 March 31, 2018 $ 1,875,000 June 30, 2018 $ 1,875,000 September 30, 2018 $ 1,875,000 December 31, 2018 $ 1,875,000 Term Maturity Date The entire unpaid and (y) the aggregate principal amount of all $85,714.29 as to each such payment in regard to Term Loans ; Loan 2 (the “Term Loan 2 Payment Amount”), provided if any date set forth above is not a Business Daythat the Lenders may, then payment shall be due in their discretion, after receipt, review and payable on acceptance of post-closing appraisals, reduce the Business Day immediately preceding such dateTerm Loan 2 Payment Amount to no less than $60,000.00. To the extent not previously paid, all the unpaid amount of Term Loans Loan 1 shall be paid in full in cash by the Borrowers on the Term Loan 1 Maturity Date and the amount of Term Loan 2 shall be paid in full in cash on the Term Loan 2 Maturity Date.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(ge) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each 2016 Revolving Lender the then unpaid principal amount of each 2016 Revolving Loan on the Revolving Credit 2016 Maturity Date.
Date in the currency of such Loan, (bii) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each 2018 Revolving Lender the then unpaid principal amount of each 2018 Revolving Loan on the 2018 Maturity Date in the currency of such Loan and (iii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the latest Maturity Date with respect to any Revolving Commitments and the first date after such Swingline Loan is made that is the 15th or last day of a calendar month and is at least two (2) Business Days after such Swingline Loan is made; provided that on each date that a Dollar Tranche Revolving Borrowing is made, the Borrower shall repay all Swingline Loans then outstanding. The Borrower shall repay 2016 Term Lender A Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section Sections 2.11(a) and 2.11(d) or 2.18(b)): Date Amount March 31, 2013 $ 0 June 30, 2017 2013 $ 1,875,000 0 September 30, 2017 2013 $ 1,875,000 0 December 31, 2017 2013 $ 1,875,000 0 March 31, 2018 2014 $ 1,875,000 0 June 30, 2018 2014 $ 1,875,000 0 September 30, 2018 2014 $ 1,875,000 0 December 31, 2018 2014 $ 1,875,000 Term Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day0 March 31, then payment shall be due and payable on the Business Day immediately preceding such date. 2015 $ 0 June 30, 2015 $ 0 September 30, 2015 $ 0 December 31, 2015 $ 0 March 31, 2016 $ 0 To the extent not previously paidrepaid, all unpaid 2016 Term A Loans shall be paid in full in cash Dollars by the Borrowers Borrower on the Term 2016 Maturity Date; provided that, to the extent specified in the applicable Extension Offer, amortization payments with respect to Extended Term A Loans for periods prior to the then current Maturity Date for 2016 Term A Loans may be reduced (but not increased) and amortization payments required with respect to Extended Term A Loans for periods after the Maturity Date for 2016 Term A Loans shall be as specified in the applicable Extension Offer. The Borrower shall repay 2018 Term A Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Sections 2.11(a) and 2.11(d)): Date Amount June 30, 2013 $ 17,343,750 September 30, 2013 $ 17,343,750 December 31, 2013 $ 17,343,750 March 31, 2014 $ 17,343,750 June 30, 2014 $ 17,343,750 September 30, 2014 $ 17,343,750 December 31, 2014 $ 17,343,750 March 31, 2015 $ 26,015,625 June 30, 2015 $ 26,015,625 September 30, 2015 $ 26,015,625 December 31, 2015 $ 26,015,625 March 31, 2016 $ 34,687,500 June 30, 2016 $ 34,687,500 September 30, 2016 $ 34,687,500 December 31, 2016 $ 34,687,500 March 31, 2017 $ 52,031,250 June 30, 2017 $ 52,031,250 September 30, 2017 $ 52,031,250 December 31, 2017 $ 52,031,250 To the extent not previously repaid, all unpaid 2018 Term A Loans shall be paid in full in Dollars by the Borrower on the 2018 Maturity Date; provided that, to the extent specified in the applicable Extension Offer, amortization payments with respect to Extended Term A Loans for periods prior to the then current Maturity Date for 2018 Term A Loans may be reduced (but not increased) and amortization payments required with respect to Extended Term A Loans for periods after the Maturity Date for 2018 Term A Loans shall be as specified in the applicable Extension Offer. The Borrower shall repay Term B Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Sections 2.11(a) and 2.11(d)): Date Amount September 30, 2011 $ 1,750,000 December 31, 2011 $ 1,750,000 March 31, 2012 $ 1,750,000 June 30, 2012 $ 1,750,000 September 30, 2012 $ 1,750,000 December 31, 2012 $ 1,750,000 March 31, 2013 $ 1,750,000 June 30, 2013 $ 1,750,000 September 30, 2013 $ 1,750,000 December 31, 2013 $ 1,750,000 March 31, 2014 $ 1,750,000 June 30, 2014 $ 1,750,000 September 30, 2014 $ 1,750,000 December 31, 2014 $ 1,750,000 March 31, 2015 $ 1,750,000 June 30, 2015 $ 1,750,000 September 30, 2015 $ 1,750,000 December 31, 2015 $ 1,750,000 March 31, 2016 $ 1,750,000 June 30, 2016 $ 1,750,000 September 30, 2016 $ 1,750,000 December 31, 2016 $ 1,750,000 March 31, 2017 $ 1,750,000 June 30, 2017 $ 1,750,000 September 30, 2017 $ 1,750,000 December 31, 2017 $ 1,750,000 March 31, 2018 $ 1,750,000 To the extent not previously repaid, all unpaid Term B Loans shall be paid in full in Dollars by the Borrower on the Maturity Date; provided that, to the extent specified in the applicable Extension Offer, amortization payments with respect to Extended Term B Loans for periods prior to the then current Maturity Date for Term B Loans may be reduced (but not increased) and amortization payments required with respect to Extended Term B Loans for periods after the Maturity Date for Term B Loans shall be as specified in the applicable Extension Offer.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class Tranche under which it was made, the Class, Agreed Currency and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(ge) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date and (ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the fifth Business Day after such Swingline Loan is made; provided that on each date that a Revolving Credit Maturity Date.
(b) The Borrowers hereby unconditionally promise to pay to Borrowing is made, the Borrower shall repay all Swingline Loans then outstanding and the proceeds of any such Borrowing shall be applied by the Administrative Agent for the account of each to repay any Swingline Loans outstanding. The Borrower shall repay Term Lender Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d2.11(a) or 2.18(band Section 2.11(b)) (it being understood that no principal payments shall be required on a date specified below if the Term Loans have not been drawn prior to such date): June 30March 14, 2017 $ 1,875,000 September 30$5,000,000 June 14, 2017 $ 1,875,000 December 31$5,000,000 September 14, 2017 $ 1,875,000 $5,000,000 December 14, 2017 $6,250,000 March 3114, 2018 $ 1,875,000 $6,250,000 June 3014, 2018 $ 1,875,000 $6,250,000 September 3014, 2018 $ 1,875,000 $6,250,000 December 3114, 2018 $ 1,875,000 Term Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. $7,500,000 To the extent not previously paidrepaid, all unpaid Term Loans shall be paid in full in cash Dollars by the Borrowers Borrower on the Term Maturity Date.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph clause (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(ge) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Samples: Credit Agreement (Deluxe Corp)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan in Dollars or, as applicable, in the Alternative Currency in which such Revolving Loan was made pursuant to Section 2.01, on the Revolving Credit Maturity Date, and (ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Revolving Credit Maturity Date and the fifth Business Day after such Swingline Loan is made; provided that on each date that a Revolving Loan is made, the Borrower shall repay all Swingline Loans then outstanding and the proceeds of any such Revolving Loan shall be applied by the Administrative Agent to repay any Swingline Loans outstanding.
(b) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Delayed Draw Term Loan Lender on each date set forth below below, in each case following the Delayed Draw Term Loan Expiration Date, the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d2.11(e) or 2.18(b)): June 30, 2017 $ 1,875,000 September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 $3,750,000 March 31, 2018 $ 1,875,000 $3,750,000 June 30, 2018 $ 1,875,000 $3,750,000 September 30, 2018 $ 1,875,000 $3,750,000 December 31, 2018 $ 1,875,000 $3,750,000 March 31, 2019 $3,750,000 June 30, 2019 $3,750,000 September 30, 2019 $3,750,000 December 31, 2019 $3,750,000 March 31, 2020 $3,750,000 June 30, 2020 $3,750,000 Term Maturity Date The entire unpaid principal amount of all Delayed Draw Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. To the extent not previously paid, all unpaid Delayed Draw Term Loans shall be paid in full in cash by the Borrowers on the Term Maturity Date.
(c) Prior to any repayment of any Delayed Draw Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Delayed Draw Term Loan Borrowing shall be applied ratably to the Loans included in the WEST\277974037.8 39 repaid Delayed Draw Term Loan Borrowing. Repayments of Delayed Draw Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(d) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(e) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(f) The entries made in the accounts maintained pursuant to paragraph (d) or (e) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this Agreement.
(g) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form.
Appears in 1 contract
Samples: Credit Agreement (Meet Group, Inc.)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date.
, (bii) to the Administrative Agent the then unpaid amount of each Protective Advance on the earlier of the Revolving Credit Maturity Date and demand by the Administrative Agent, (iii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Revolving Credit Maturity Date and the fifth (5th) Business Day after such Swingline Loan is made; provided that, on each date that a Revolving Loan is made, the Borrower shall repay all Swingline Loans then outstanding and the proceeds of any such Revolving Loan shall be applied by the Administrative Agent to repay any Swingline Loans outstanding, and (iv) to the Administrative Agent the then unpaid principal amount of each Overadvance on the earlier of the Revolving Credit Maturity Date, the thirtieth (30th) day after such Overadvance is made and the second (2nd) Business Day after demand by the Administrative Agent. The Borrowers Borrower hereby unconditionally promise promises to pay to the Administrative Agent for the account of each Term Lender on the first Business Day of the month following each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) or 2.18(b2.11(e)): June 30, 2017 2023 $ 1,875,000 13,250,000 September 30, 2017 2023 $ 1,875,000 13,250,000 December 31, 2017 2023 $ 1,875,000 13,250,000 March 31, 2018 2024 $ 1,875,000 13,250,000 June 30, 2018 2024 $ 1,875,000 9,000,000 September 30, 2018 2024 $ 1,875,000 9,000,000 December 31, 2018 2024 $ 1,875,000 Term Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day9,000,000 March 31, then payment shall be due and payable on the Business Day immediately preceding such date. 2025 $ 9,000,000 June 30, 2025 $ 9,000,000 September 30, 2025 $ 9,000,000 December 31, 2025 $ 9,000,000 To the extent not previously paid, all unpaid Term Loans shall be paid in full in cash by the Borrowers Borrower on the Term Loan Maturity Date.
(cb) Prior to any repayment of any Term Loan Borrowings of any Class under this SectionAt all times during a Cash Dominion Activation Period, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify on each Business Day, the Administrative Agent by telephone shall apply all funds credited to the Collection Account on such Business Day or the immediately preceding Business Day (confirmed by faxat the discretion of the Administrative Agent, whether or not immediately available) first to prepay any Protective Advances and Overadvances that may be outstanding, pro rata, second to prepay the Revolving Loans (including Swingline Loans) and third to cash collateralize outstanding LC Exposure to the extent required herein. Notwithstanding the foregoing, to the extent any funds credited to the Collection Account constitute Net Proceeds, the application of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing Net Proceeds shall be applied ratably subject to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaidSection 2.11(c).
(dc) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such LenderLxxxxx, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ed) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each LenderLxxxxx’s share thereof.
(fe) The entries made in the accounts maintained pursuant to paragraph (dc) or (ed) of this Section 2.10 shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(gf) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) assigns and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form.
Appears in 1 contract
Samples: Credit Agreement (Cactus, Inc.)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date.
(b) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Borrower shall repay Term Lender Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) or 2.18(b)2.11): September 30, 2010 $5,625,000 December 31, 2010 $5,625,000 March 31, 2011 $5,625,000 June 30, 2017 $ 1,875,000 2011 $5,625,000 September 30, 2017 $ 1,875,000 2011 $5,625,000 December 31, 2017 $ 1,875,000 2011 $5,625,000 March 31, 2018 $ 1,875,000 2012 $5,625,000 June 30, 2018 $ 1,875,000 2012 $5,625,000 September 30, 2018 $ 1,875,000 2012 $7,500,000 December 31, 2018 $ 1,875,000 Term 2012 $7,500,000 March 31, 2013 $7,500,000 Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. $7,500,000 To the extent not previously paid, all unpaid Term Loans shall be paid in full in cash by the Borrowers Borrower on the Term Maturity Date.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(ge) Any Lender may request that Loans made by it to the Borrower be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Samples: Loan Agreement (Fuller H B Co)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date.
(b) The Borrowers hereby unconditionally promise to pay to the Administrative Agent for the account of each Borrower shall repay Term Lender Loans on each date set forth below in the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) or 2.18(b)2.11): September 30, 2010 $ 5,625,000 December 31, 2010 $ 5,625,000 March 31, 2011 $ 5,625,000 June 30, 2017 2011 $ 1,875,000 5,625,000 September 30, 2017 2011 $ 1,875,000 5,625,000 December 31, 2017 2011 $ 1,875,000 5,625,000 March 31, 2018 2012 $ 1,875,000 5,625,000 June 30, 2018 2012 $ 1,875,000 5,625,000 September 30, 2018 2012 $ 1,875,000 7,500,000 December 31, 2018 2012 $ 1,875,000 Term 7,500,000 March 31, 2013 $ 7,500,000 Maturity Date The entire unpaid principal amount of all Term Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. $ 7,500,000 To the extent not previously paid, all unpaid Term Loans shall be paid in full in cash by the Borrowers Borrower on the Term Maturity Date.
(c) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(db) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ec) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fd) The entries made in the accounts maintained pursuant to paragraph (db) or (ec) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(ge) Any Lender may request that Loans made by it to the Borrower be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such formform payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns).
Appears in 1 contract
Samples: Loan Agreement (Fuller H B Co)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date, and (ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Revolving Credit Maturity Date and the fifth Business Day after such Swingline Loan is made; provided that on each date that a Revolving Loan is made, the Borrower shall repay all Swingline Loans then outstanding and the proceeds of any such Revolving Loan shall be applied by the Administrative Agent to repay any Swingline Loans outstanding.
(b) The Borrowers Borrower hereby unconditionally promise promises to pay to the Administrative Agent for the account of each Term Lender on each date set forth below the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d2.11(e) or 2.18(b)): June 30March 31, 2017 $ 1,875,000 2022 $3,125,000
(c) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Term Lender, on the last day of each fiscal quarter following the addition of new Term Loans pursuant to Section 2.09(e) (each, a “New Term Loan”), an amount equal to the applicable percentage of the aggregate amount of such New Term Loan made pursuant to Section 2.09(e) if then outstanding, set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(e) or 2.18(b)): September 30, 2017 $ 1,875,000 December 31, 2017 $ 1,875,000 March 31, 2018 $ 1,875,000 June 30, 2018 $ 1,875,000 September 30, 2018 $ 1,875,000 December 31, 2018 $ 1,875,000 2025 $4,687,500 2.50% Date Term Maturity Date Amount The entire unpaid principal amount of all New Term Loans ; provided if any date set forth above is not a Business DayMarch 31, then payment shall be due and payable on the Business Day immediately preceding such date. To the extent not previously paid2022 June 30, all unpaid Term Loans shall be paid in full in cash by the Borrowers on the Term Maturity Date.2024 1.25%
(cd) Prior to any repayment of any Term Loan Borrowings of any Class under this Section, the Borrowers Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m., Eastern New York time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing shall be applied ratably (based upon the original principal amount of such Term Loan at the time such Term Loan was initially advanced) to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(de) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such LenderXxxxxx, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(ef) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(fg) The entries made in the accounts maintained pursuant to paragraph (de) or (ef) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(gh) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to Administrative Agent (and Administrative Agent shall promptly deliver to such Lender Lender) a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative AgentAgent and the Borrower. Thereafter, unless otherwise requested by the applicable Lender, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form.
Appears in 1 contract
Samples: Credit Agreement (CompoSecure, Inc.)
Repayment and Amortization of Loans; Evidence of Debt. (a) The Borrowers Borrower hereby unconditionally promise promises to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Revolving Credit Maturity Date, and (ii) to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier of the Revolving Credit Maturity Date and the fifth Business Day after such Swingline Loan is made; provided that on each date that a Revolving Loan is made, the Borrower shall repay all Swingline Loans then outstanding and the proceeds of any such Revolving Loan shall be applied by the Administrative Agent to repay any Swingline Loans outstanding.
(b) The Borrowers Borrower hereby unconditionally promise promises to pay to the Administrative Agent for the account of each Term A Lender on each date set forth below the aggregate principal amount set forth opposite such date (as adjusted from time to time pursuant to Section 2.11(d) or 2.18(b)): December 31, 2020 $187,500 March 31, 2021 $187,500 June 30, 2017 $ 1,875,000 2021 $187,500 September 30, 2017 $ 1,875,000 2021 $187,500 December 31, 2017 $ 1,875,000 2021 $187,500 March 31, 2018 $ 1,875,000 2022 $187,500 June 30, 2018 $ 1,875,000 2022 $187,500 September 30, 2018 $ 1,875,000 2022 $187,500 December 31, 2018 $ 1,875,000 2022 $375,000 March 31, 2023 $375,000 June 30, 2023 $375,000 Term A Maturity Date The entire unpaid principal amount of all Term A Loans ; provided if any date set forth above is not a Business Day, then payment shall be due and payable on the Business Day immediately preceding such date. To the extent not previously paid, all unpaid Term A Loans shall be paid in full in cash by the Borrowers Borrower on the Term A Maturity Date.
(c) Prior to any repayment of any Term Loan Borrowings of any Class Class, if applicable, under this Section, the Borrowers Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by fax) of such selection not later than 11:00 a.m.noon, Eastern New York time, three (3) Business Days before the scheduled date of such repayment. Each repayment of a Term Loan Borrowing of any Class shall be applied ratably to the Loans included in the repaid Term Loan Borrowing. Repayments of Term Loan Borrowings shall be accompanied by accrued interest on the amounts repaid.
(d) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrowers Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.
(e) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto, if any, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrowers Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
(f) The entries made in the accounts maintained pursuant to paragraph (d) or (e) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers Borrower to repay the Loans in accordance with the terms of this Agreement.
(g) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form.
Appears in 1 contract
