REPAYMENT OF THE TERM LOANS AND ACQUISITION LOANS Sample Clauses

REPAYMENT OF THE TERM LOANS AND ACQUISITION LOANS. (i) The Term Loans shall be repayable in twenty-four (24) consecutive quarterly installments payable on the last day of each calendar quarter commencing on June 30, 1996 and continuing thereafter until the Term Loan Termination Date, and the Term Loans shall be permanently reduced by the amount of each installment on the date payment thereof is required to be made hereunder. The installments shall be in the aggregate amount set forth below: INSTALLMENT DATE INSTALLMENT AMOUNT ---------------- ------------------ June 30, 1996 $375,000 September 30, 1996 $375,000 December 31, 1996 $375,000 March 31, 1997 $375,000 June 30, 1997 $875,000 September 30, 1997 $875,000 December 31, 1997 $875,000 March 31, 1998 $875,000 June 30, 1998 $906,000 September 30, 1998 $906,000 December 31, 1998 $906,000 March 31, 1999 $906,000 June 30, 1999 $906,000 September 30, 1999 $906,000 December 31, 1999 $906,000 March 31, 2000 $906,000 June 30, 2000 $1,438,000 September 30, 2000 $1,438,000 December 31, 2000 $1,438,000 March 31, 2001 $1,438,000 June 30, 2001 $1,750,000 September 30, 2001 $1,750,000 December 31, 2001 $1,750,000 March 31, 2002 $1,750,000 In addition, the then outstanding principal balance of the Term Loans shall be due and payable on the Term Loan Termination Date. All amounts repaid with respect to the Term Loans may not be reborrowed.
Sample 1
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REPAYMENT OF THE TERM LOANS AND ACQUISITION LOANS. The outstanding principal balance of the Term Loans and the Acquisition Loans on the Conversion Date shall be repayable in consecutive monthly installments payable on the first Business Day of each calendar month commencing on the first such date to occur after the Conversion Date and continuing thereafter until the Term Loan Termination Date, and the Term Loans and the Acquisition Loans shall be permanently reduced by the ratable portion (based upon the outstanding principal balance of the Term Loans and the outstanding principal balance of the Acquisition Loans) of each installment on the date payment thereof is required to be made hereunder. The installments shall be in the aggregate amount equal to the applicable percentage of the aggregate principal balance of the Term Loans and the Acquisition Loans outstanding on the Conversion Date set forth below: INSTALLMENT DATE APPLICABLE PERCENTAGE The first Business Day of each calendar month occurring after the Conversion Date but on or prior to the two-year anniversary of the Conversion Date 1.25% The first Business Day of each calendar month occurring after the two-year anniversary of the Conversation Date but on or prior to the four- year anniversary of the Conversion Date 1.67% The first Business Day of each calendar month occurring after the four-year anniversary of the Conversion Date but before the Term Loan Termination Date 2.50% In addition, and notwithstanding the foregoing, the then outstanding principal balance of the Term Loans and Acquisition Loans shall be due and payable on the Term Loan Termination Date. After the Conversion Date, amounts repaid with respect to the Acquisition Loans may not be reborrowed. In addition to the scheduled payments on the Term Loans and Acquisition Loans, the Borrower may make the voluntary prepayments described in SECTION 2.5(A) and shall make the mandatory prepayments prescribed in SECTION 2.5(B), for credit against such scheduled payments on the Term Loans or the Acquisition Loans, respectively, pursuant to SECTION 2.5(B).
Sample 1

Related to REPAYMENT OF THE TERM LOANS AND ACQUISITION LOANS

  • Investments, Loans, Advances and Acquisitions The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except:

  • Investments, Acquisitions, Loans and Advances The Borrower shall not, nor shall it permit any Subsidiary to, directly or indirectly, make, retain or have outstanding any investments (whether through purchase of stock or obligations or otherwise) in, or loans or advances to (other than for travel advances and other similar cash advances made to employees in the ordinary course of business), any other Person, or acquire all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent:

  • Acquisition Loans The proceeds of the Acquisition Loans may be used only for the following purposes: (i) for working capital and general corporate purposes, including, without limitation, the issuance of Letters of Credit and to pay outstanding Floor Plan Loans; and (ii) to make Permitted Acquisitions.

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

  • Investments, Loans, Advances, Guarantees and Acquisitions The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except:

  • Limitations on Loans, Advances, Investments and Acquisitions Purchase, own, invest in or otherwise acquire, directly or indirectly, any Capital Stock, interests in any partnership or joint venture (including, without limitation, the creation or capitalization of any Subsidiary), evidence of Indebtedness or other obligation or security, substantially all or a portion of the business or assets of any other Person or any other investment or interest whatsoever in any other Person, or make or permit to exist, directly or indirectly, any loans, advances or extensions of credit to, or any investment in cash or by delivery of property in, any Person except:

  • Permitted Prepayment of Term Loans Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least thirty (30) days prior to such prepayment, and (ii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

  • Investments, Loans and Advances Purchase, hold or acquire any Equity Interests, evidences of indebtedness or other securities of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other person, except:

  • Revolving Loans and Term Loans The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Revolving Loans or Term Loans of any Class in whole or in part without premium or penalty; provided that (A) such notice must be received by the Administrative Agent not later than 1:00 p.m. (1) three Business Days prior to any date of prepayment of Eurocurrency Rate Loans denominated in Dollars, (2) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to any date of prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies and (3) on the date of prepayment of Base Rate Loans; (B) any such prepayment of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (D) any prepayment of the Term Loans shall be in such proportions as the Borrower shall elect and each such prepayment shall be applied as directed by the Borrower and, absent such direction, shall be applied in direct order of maturity to the remaining principal amortization payments of the applicable Term Loan; and (E) any such notice may be conditioned on the effectiveness of other financing arrangements or one or more other transactions. Each such notice shall specify the date and amount of such prepayment and the Class and Type(s) of Loans to be prepaid and, if Eurocurrency Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, subject to the occurrence of any condition(s) specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the applicable Class of Loans being prepaid of the applicable Lenders in accordance with their respective Applicable Percentages for such Class.

  • Repayment of the Loans The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Laurus under this Agreement and the Ancillary Agreements; and (c) subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

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