Common use of Repayment of Initial Term Loans Clause in Contracts

Repayment of Initial Term Loans. The Initial Term Loan of each Term Lender shall mature and be payable in full on the date that is six and one-half years after the Closing Date and shall be repayable prior to that date in consecutive quarterly installments, each of which shall be in an amount equal to such Lender’s Term Percentage of 0.25% of the aggregate Initial Term Loans, due commencing on September 30, 2007 and continuing on the last day of each consecutive March, June, September and December thereafter.

Appears in 3 contracts

Samples: Credit Agreement (Carbuyco, LLC), Credit Agreement (Adesa California, LLC), Credit Agreement (Auto Disposal of Memphis, Inc.)

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Repayment of Initial Term Loans. The Initial Term Loan of each Initial Term Lender shall mature and be payable in full on the date that is six and one-half years after the Closing Date and shall be repayable prior to that date in 20 consecutive quarterly installments, each of which shall be in an amount equal to such Lender’s Initial Term Loan Percentage of multiplied by 0.25% of the original aggregate amount of the Initial Term Loans, due commencing on September 30, 2007 and continuing Loans on the last day Business Day of each consecutive Marchfiscal quarter, Junecommencing on June 30, September and December thereafter2013, with the unpaid balance due on the fifth anniversary of the Closing Date.

Appears in 2 contracts

Samples: Intercreditor Agreement (Philadelphia Energy Solutions Inc.), Credit Agreement (Philadelphia Energy Solutions Inc.)

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Repayment of Initial Term Loans. The Initial Term Loan of each Term Lender Loans shall mature and be payable in full on the date that is six and one-half seven (7) years after the Closing Date Date, and shall also be repayable prior to that date in consecutive quarterly installments, each of which shall be in an amount equal to such Lender’s Term Percentage of 0.25% of the original aggregate principal amount of the Initial Term LoansLoans outstanding on the Closing Date after giving effect to Section 2.1 hereof, due commencing on September 30, 2007 2019 and continuing on the last day of each consecutive MarchSeptember, JuneDecember, September March and December June thereafter.

Appears in 1 contract

Samples: Credit Agreement (IAA, Inc.)

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