Common use of Scheduled Repayments of Term Loans Clause in Contracts

Scheduled Repayments of Term Loans. On the last day of each calendar quarter of the Borrower commencing with the fiscal quarter ending June 30, 2020, the Borrower shall repay the principal amount of the Term Loans in equal quarterly installments of the annual amortization amount set forth below, except that the payment due on the Term Loan Maturity Date shall in any event be in the amount of the entire remaining principal amount of the outstanding Term Loans (each such repayment, as the same may be reduced by reason of the application of prepayments pursuant to Sections 2.12(a) and 2.12(c), a “Scheduled Repayment”): Closing Date through June 29, 2021 2.5% June 30, 2021 through June 29, 2022 5.0% June 30, 2022 through June 29, 2023 7.5% June 30, 2023 through June 29, 2024 7.5% June 30, 2024 through December 31, 2024 10.0% Term Loan Maturity Date Remaining Balance of Term Loans In addition to the foregoing, the Borrower shall pay to the Administrative Agent, for the account of the Incremental Term Lenders, on each Incremental Term Loan Repayment Date, a principal amount of the Other Term Loans (as adjusted from time to time pursuant to Sections 2.12(a), 2.12(c) and 2.15(f)) equal to the amount (if any) set forth for such date in the applicable Incremental Term Loan Assumption Agreement, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. To the extent not previously paid, all Incremental Term Loans shall be due and payable on the applicable Incremental Term Loan Maturity Date, together with accrued and unpaid interest on the principal amount to be paid to but excluding the date of payment.

Scheduled Repayments of Term Loans. On the last day of each calendar quarter of the Borrower commencing with the fiscal quarter ending June 30, 2020dates set forth below, the Borrower shall repay the principal amount of the Term Loans made on the Closing Date in equal quarterly installments of the annual amortization amount set forth belowopposite such date, except that the payment due on the Initial Term Loan Maturity Date shall in any event be in the amount of the entire remaining principal amount of the outstanding Term Loans (each such repayment, as the same may be reduced by reason of the application of prepayments pursuant to Sections 2.12(a2.13(a) and 2.12(c2.13(c)), a “Scheduled Repayment”): Closing Date through March 31, 2016 $1,000,000 June 2930, 2016 $1,000,000 September 30, 2016 $1,000,000 December 31, 2016 $1,000,000 March 31, 2017 $1,000,000 June 30, 2017 $1,000,000 September 30, 2017 $1,000,000 December 31, 2017 $1,000,000 March 31, 2018 $1,000,000 June 30, 2018 $1,000,000 September 30, 2018 $1,000,000 December 31, 2018 $1,000,000 March 31, 2019 $1,000,000 June 30, 2019 $1,000,000 September 30, 2019 $1,000,000 December 31, 2019 $1,000,000 March 31, 2020 $1,000,000 June 30, 2020 $1,000,000 September 30, 2020 $1,000,000 December 31, 2020 $1,000,000 March 31, 2021 2.5% $1,000,000 June 30, 2021 through June 29$1,000,000 September 20, 2021 $1,000,000 December 31, 2021 $1,000,000 March 31, 2022 5.0% $1,000,000 June 30, 2022 through June 29, 2023 7.5% June $1,000,000 September 30, 2023 through June 29, 2024 7.5% June 30, 2024 through December 31, 2024 10.0% 2022 $1,000,000 Initial Term Loan Maturity Date Remaining Balance of Closing Date Term Loans In addition to the foregoing, the Borrower shall pay to the Administrative Agent, for the account of the Incremental Term Lenders, on each Incremental Term Loan Repayment Date, a principal amount of the Other Term Loans (as adjusted from time to time pursuant to Sections 2.12(a2.13(a), 2.12(c2.13(c) and 2.15(f2.17(d)) equal to the amount (if any) set forth for such date in the applicable Incremental Term Loan Assumption Agreement, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. To the extent not previously paid, all Incremental Term Loans shall be due and payable on the applicable Incremental Term Loan Maturity Date and all Incremental Revolving Loans shall be due and payable on the applicable Incremental Revolving Credit Maturity Date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of payment. In the event that any Extended Term Loans are made, the Borrower shall repay such Extended Term Loans on the dates and in the amounts set forth in the applicable Extension Amendment.

Scheduled Repayments of Term Loans. On the last day of each calendar quarter of the Borrower commencing with the fiscal quarter ending June 30, 2020dates set forth below, the Borrower shall repay the principal amount of the Term Loans (other than Other Term Loans) in equal quarterly installments of the annual amortization amount set forth belowopposite such date, except that the payment due on the Term Loan Maturity Date shall in any event be in the amount of the entire remaining principal amount of the outstanding Term Loans (each such repayment, as the same may be reduced by reason of the application of prepayments pursuant to Sections 2.12(a2.13(a) and 2.12(c2.13(c) and as may be increased pursuant to Section 2.17(e), a “Scheduled Repayment”): Closing Date through December 31, 2019 $ 1,250,000 March 31, 2020 $ 1,250,000 June 2930, 2020 $ 1,250,000 September 30, 2020 $ 1,250,000 December 31, 2020 $ 1,250,000 March 31, 2021 2.5% $ 1,250,000 June 30, 2021 through June 29$ 1,250,000 September 30, 2021 $ 1,875,000 December 31, 2021 $ 1,875,000 March 31, 2022 5.0% $ 1,875,000 June 30, 2022 through June 29$ 1,875,000 September 30, 2022 $ 1,875,000 December 31, 2022 $ 1,875,000 March 31, 2023 7.5% $ 1,875,000 June 30, 2023 through June 29$ 1,875,000 September 30, 2023 $ 2,500,000 December 31, 2023 $ 2,500,000 March 31, 2024 7.5% $ 2,500,000 June 30, 2024 through December 31, 2024 10.0% $ 2,500,000 Term Loan Maturity Date Remaining Balance Remainder of Term Loans In addition to the foregoing, the Borrower shall pay to the Administrative Agent, for the account of the Incremental Term Lenders, on each Incremental Term Loan Repayment Date, a principal amount of the Other Term Loans (as adjusted from time to time pursuant to Sections 2.12(a2.13(a), 2.12(c2.13(c) and 2.15(f2.18(d)) equal to the amount (if any) set forth for such date in the applicable Incremental Term Loan Assumption Agreement, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. To the extent not previously paid, all Incremental Term Loans shall be due and payable on the applicable Incremental Term Loan Maturity Date and all Incremental Revolving Loans shall be due and payable on the applicable Revolving Facility Termination Date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of payment.