Common use of Scheduled Amortization of Term Loans Clause in Contracts

Scheduled Amortization of Term Loans. The principal amounts of the Tranche C Term Loans shall be repaid in consecutive quarterly installments (each, an “Installment”) on each March 31, June 30, September 30 and December 31 of each year (each, an “Installment Date”), commencing September 30, 2006, in an aggregate amount of 0.25% of the aggregate principal amount of Term Loans that would have been outstanding on the Closing Date (assuming for this Section 2.12 only that such Tranche C Term Loans were issued on June 1, 2006 in an amount equal to the Original Term Loans issued under the Original Credit Agreement and that all scheduled amortization payments prior to the Effective Date had been made), with the remaining balance due on the maturity date for such Term Loans; provided, in the event any New Term Loans are made, such New Term Loans shall be repaid on each Installment Date occurring on or after the applicable Increased Amount Date in an amount equal to (i) the aggregate principal amount of New Term Loans of the applicable Series of New Term Loans, times (ii) the ratio (expressed as a percentage) of (A) the amount of all other Term Loans being repaid on such Installment Date and (B) the total aggregate principal amount of all other Term Loans outstanding on such Increased Amount Date. Notwithstanding the foregoing, (x) such Installments shall be reduced in connection with any voluntary or mandatory prepayments of the Tranche C Term Loans in accordance with Sections 2.13, 2.14 and 2.15, as applicable; and (y) the Tranche C Term Loans, together with all other amounts owed hereunder with respect thereto, shall, in any event, be paid in full no later than the Tranche C Term Loan Maturity Date.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Education Management LLC), Credit and Guaranty Agreement (Education Management LLC)

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Scheduled Amortization of Term Loans. The principal amounts of the Tranche C B Term Loans shall be repaid in consecutive quarterly installments (each, an “Installment”) on each March 31, June 30, September 30 and December 31 of each year (each, an “Installment Date”), commencing September 30, 2006, in an aggregate amount of 0.25% of the aggregate principal amount of Term Loans that would have been outstanding on the Closing Date (assuming for this Section 2.12 only that such Tranche C Term Loans were issued on June 1, 2006 in an amount equal to the Original Term Loans issued under the Original Credit Agreement and that all scheduled amortization payments prior to the Effective Date had been made)Date, with the remaining balance due on the maturity date for such Term Loans; provided, in the event any New Term Loans are made, such New Term Loans shall be repaid on each Installment Date occurring on or after the applicable Increased Amount Date in an amount equal to (i) the aggregate principal amount of New Term Loans of the applicable Series of New Term Loans, times (ii) the ratio (expressed as a percentage) of (A) the amount of all other Term Loans being repaid on such Installment Date and (B) the total aggregate principal amount of all other Term Loans outstanding on such Increased Amount Date. Notwithstanding the foregoing, (x) such Installments shall be reduced in connection with any voluntary or mandatory prepayments of the Tranche C B Term Loans in accordance with Sections 2.13, 2.14 and 2.15, as applicable; and (y) the Tranche C B Term Loans, together with all other amounts owed hereunder with respect thereto, shall, in any event, be paid in full no later than the Tranche C B Term Loan Maturity Date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (AID Restaurant, Inc.)

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Scheduled Amortization of Term Loans. (a) The principal amounts of the Tranche C C-2 Term Loans and Tranche C-3 Term Loans shall be repaid in consecutive quarterly installments (each, an “Installment”) on each March 31, June 30, September 30 and December 31 of each year (each, an “Installment Date”), commencing September commencing, in respect of the Tranche C-2 Term Loans, on December 31, 2010, and, in respect of the Tranche C-3 Term Loans, on June 30, 20062012, in an aggregate amount of 0.25% of the aggregate principal amount of Term Loans that would have been outstanding on the Closing Date (assuming for this Section 2.12 only that such Tranche C Term Loans, Tranche C-2 Term Loans and Tranche C-3 Term Loans were issued on June 1, 2006 in an amount equal to the Original Term Loans issued under the Original Credit Agreement and that all scheduled amortization payments prior to the Effective Date had been made), with the remaining balance due on the maturity date for such Term Loans; provided, in the event any Other New Term Loans are made, such Other New Term Loans shall be repaid on each Installment Date occurring on or after the applicable Increased Amount Date in an amount equal to (i) the aggregate principal amount of Other New Term Loans of the applicable Series of Other New Term Loans, times (ii) the ratio (expressed as a percentage) of (A) the amount of all other Term Loans being repaid on such Installment Date and (B) the total aggregate principal amount of all other Term Loans outstanding on such Increased Amount Date. . (b) Notwithstanding the foregoing, (w) during the PIK Period, such Installments shall not be payable with respect to PIK Term Loans; (x) such Installments shall be reduced in connection with any voluntary or mandatory prepayments of the Tranche C C-2 Term Loans or the Tranche C-3 Term Loans, as applicable, in accordance with Sections 2.13, 2.14 and 2.15, as applicable; and (y) the Tranche C C-2 Term Loans, together with all other amounts owed hereunder with respect thereto, shall, in any event, be paid in full no later than the Tranche C C-2 Term Loan Maturity Date; and (z) the Tranche C-3 Term Loans, together with all other amounts owed hereunder with respect thereto, shall, in any event, be paid in full no later than the Tranche C-3 Term Loan Maturity Date.

Appears in 1 contract

Samples: Amendment Agreement (Education Management Corporation)

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