Second Amendment Term Loan Sample Clauses

Second Amendment Term Loan. (i) Subject to the terms and conditions of this Agreement and relying on the representations and warranties set forth herein, each Lender, severally and not jointly, agrees to provide its share of the Second Amendment Term Loan to Borrower on the Second Amendment Date in Dollars in a principal amount equal to such Lender’s Second Amendment Date Commitment. No Lender shall have an obligation to make a Second Amendment Term Loan in excess of such Lender’s Second Amendment Date Commitment. (ii) Borrower may make one borrowing under the Second Amendment Date Commitment which shall be on the Second Amendment Date. Subject to Section 3.03, all amounts owed hereunder with respect to the Second Amendment Term Loan shall be paid in full no later than the Second Amendment Maturity Date. Each Lender’s Second Amendment Date Commitment shall terminate immediately and without further action on the Second Amendment Date after giving effect to the funding of such Lender’s Second Amendment Date Commitment on such date. (iii) Upon satisfaction or waiver of the conditions precedent set forth in Section1 3 of the Second Amendment, the Lenders shall make the proceeds of the Second Amendment Term Loan available to Borrower on the Second Amendment Date.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Second Amendment Term Loan. (A) Subject to and upon the terms and conditions set forth herein, each Lender agrees, severally and not jointly, to make a loan or loans (each, a “Second Amendment Term Loan”) to the Borrowers on the Second Amendment Effective Date in an amount equal to such Lender’s Second Amendment Term Loan Commitment. All such Second Amendment Term Loans in the aggregate shall not exceed the Total Second Amendment Term Loan Commitment. Such Second Amendment Term Loans may be repaid or prepaid in accordance with the terms and conditions hereof, but once repaid or prepaid may not be re-borrowed. Unless otherwise specified herein, the Second Amendment Term Loan have the same terms as, and shall be treated interchangeably and ratably with, the Closing Date Term Loans for all purposes under the Loan Documents. (B) Each Lender may, at its option, make any Second Amendment Term Loan in its entirety by causing any domestic or foreign branch or Affiliate of such Lender to make such Second Amendment Term Loan; provided, that (i) any exercise of such option shall not affect the obligation of the Borrowers to repay such Second Amendment Term Loan in accordance with the terms hereof and (ii) in exercising such option, such Lender shall bear any increased costs to the Borrowers resulting therefrom. (C) To the extent requested by a Lender, the Borrowers shall execute and deliver (x) to the extent requested by such Lender prior to the Second Amendment Effective Date, on the Second Amendment Effective Date and (y) to the extent requested by such Lender after the Second Amendment Effective Date, promptly (and in any case, within five (5) Business Days of such request, one or more notes payable to such Lender which in the aggregate equal the amount of such Lender’s Second Amendment Term Loan Commitment made payable to such Lender in substantially the form of Exhibit A-1 (each, a “Second Amendment Term Loan Note”)).
Sample 1Sample 2
Second Amendment Term Loan. (a) Subject to the terms and conditions of this Agreement, on the Second Amendment Effective Date, each Term Loan Lender with a Second Amendment Term Loan Commitment agrees (severally, not jointly or jointly and severally) to make term loans (collectively, the “Second Amendment Term Loan”) to Borrower in an amount equal to such Lender’s Pro Rata Share of the Second Amendment Term Loan Amount. (b) The principal of the Second Amendment Term Loan shall be repaid on the following dates and in the following amounts (subject to any adjustments pursuant to Sections 2.4(d)(ii) and 2.4(f)(ii)): Date Installment Amount December 31, 2020 $ 62,500 March 31, 2021 $ 62,500 June 30, 2021 $ 62,500 September 30, 2021 $ 62,500 December 31, 2021 $ 62,500 March 31, 2022 $ 62,500 June 30, 2022 $ 62,500 September 30, 2022 $ 62,500 December 31, 2022 $ 62,500 March 31, 2023 $ 62,500 June 30, 2023 $ 62,500 September 30, 2023 $ 62,500 The outstanding unpaid principal balance and all accrued and unpaid interest on the Second Amendment Term Loan shall be due and payable on the earlier of (i) the Maturity Date, and (ii) the date of the acceleration of the Second Amendment Term Loan in accordance with the terms hereof. Any principal amount of the Second Amendment Term Loan that is repaid or prepaid may not be reborrowed.
Sample 1

Related to Second Amendment Term Loan

  • Second Amendment The Administrative Agent shall have received multiple counterparts as requested of this Second Amendment from each Lender.

  • First Amendment The Administrative Agent shall have received multiple counterparts as requested of the this First Amendment from each Lender.

  • Amendment to the Loan Agreement Section 3.1 of the Loan Agreement shall be amended and restated as follows:

  • Extended Term Loans (a) The Borrower may at any time and from time to time request that all or a portion of the Term Loans under any Facility (an “Existing Term Loan Facility”) be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all or a portion of any principal amount of such Term Loans (any such Term Loans which have been so converted, “Extended Term Loans”) and to provide for other terms consistent with this Section 2.16. In order to establish any Extended Term Loans, the Borrower shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the applicable Existing Term Loan Facility) (an “Extension Request”) setting forth the proposed terms of the Extended Term Loans to be established which shall be identical to the Class of Term Loans from which such Extended Term Loans are to be converted except that: (i) all or any of the scheduled amortization payments of principal of the Extended Term Loans may be delayed to later dates than the scheduled amortization payments of principal of the Class of Term Loans being converted to the extent provided in the applicable Term Loan Extension Amendment; (ii) the interest margins with respect to the Extended Term Loans may be different than the interest margins for the Class of Term Loans being converted and upfront fees may be paid to the Extending Term Lenders, in each case, to the extent provided in the applicable Term Loan Extension Amendment; (iii) the Term Loan Extension Amendment may provide for other covenants and terms that apply solely to any period after the latest final maturity of all Classes of Term Loans and Revolving Commitments in effect on the effective date of the Term Loan Extension Amendment immediately prior to the establishment of such Extended Term Loans; and (iv) no Extended Term Loans may be optionally prepaid prior to the date on which the Term Loans under the Class from which they were converted are repaid in full unless such optional prepayment is accompanied by a pro rata optional prepayment of the Term Loans under such Class that were not converted. Any Extended Term Loans converted pursuant to any Extension Request shall be designated a Class of Extended Term Loans for all purposes of this Agreement; provided that any Extended Term Loans converted may, to the extent provided in the applicable Term Loan Extension Amendment, be designated as an increase in any previously established Class of Extended Term Loans. (b) The Borrower shall provide the applicable Extension Request to all Lenders of such Class that is subject to the Extension Request at least five (5) Business Days prior to the date on which Lenders under such Class being converted are requested to respond. No Lender shall have any obligation to agree to have any of its Term Loans of such class converted into Extended Term Loans pursuant to any Extension Request. Any Lender (an “Extending Term Lender”) wishing to have all or a portion of its Term Loans under such Class being converted into Extended Term Loans shall notify the Administrative Agent (an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Term Loans of such Class which it has elected to request be converted into Extended Term Loans (subject to any minimum denomination requirements reasonably imposed by the Administrative Agent). In the event that the aggregate amount of Term Loans under such Class being converted exceeds the amount of Extended Term Loans requested pursuant to the Extension Request, Term Loans subject to Extension Elections shall be converted to Extended Term Loans on a pro rata basis based on the amount of Term Loans included in each such Extension Election. (c) Extended Term Loans shall be established pursuant to an amendment (a “Term Loan Extension Amendment”) to this Agreement among the Borrower, the Administrative Agent and each Extending Term Lender providing an Extended Term Loan thereunder which shall be consistent with the provisions set forth in paragraph (a) above (but which shall not require the consent of any other Lender). Each Term Loan Extension Amendment shall be binding on the Lenders, the Loan Parties and the other parties hereto. In connection with any Term Loan Extension Amendment, the Loan Parties and the Collateral Agent shall enter into such amendments to the Collateral Documents as may be reasonably requested by the Collateral Agent (which shall not require any consent from any Lender) in order to ensure that the Extended Term Loans are provided with the benefit of the applicable Collateral Documents and shall deliver such other documents, certificates and opinions of counsel in connection therewith as may be requested by the Collateral Agent. (d) This Section 2.16 shall supersede any provisions in Section 2.13 or 10.01 to the contrary.

  • Amendment, Extension and Waiver Subject to applicable law, at any time prior to the consummation of the transactions contemplated by this Agreement, the parties may (a) amend this Agreement, (b) extend the time for the performance of any of the obligations or other acts of either party hereto, (c) waive any inaccuracies in the representations and warranties contained herein or in any document delivered pursuant hereto, or (d) waive compliance with any of the agreements or conditions contained in Articles V and VI hereof or otherwise; provided, however, that after any approval of the transactions contemplated by this Agreement by Innes Street's shareholders, there may not be, without further approval of such shareholders, any amendment of this Agreement which reduces the amount or changes the form of the consideration to be delivered to Innes Street shareholders hereunder other than as contemplated by this Agreement. This Agreement may not be amended except by an instrument in writing authorized by the respective Boards of Directors and signed, by duly authorized officers, on behalf of the parties hereto. Any agreement on the part of a party hereto to any extension or waiver shall be valid only if set forth in an instrument in writing signed by a duly authorized officer on behalf of such party, but such waiver or failure to insist on strict compliance with such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure.

  • FIRST AMENDMENT TO LEASE This First Amendment to Lease (this “Amendment”), made as of March 16, 2006, by and between ARE-MA REGION NO. 28, LLC, a Delaware limited liability company (“Landlord”) and ALNYLAM PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”).

  • Initial Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 11:00 a.m. on the Closing Date requesting that the Term Loan Lenders make the Initial Term Loan as a Base Rate Loan on such date (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Lenders make the Initial Term Loan as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 1:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Initial Term Loan to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Initial Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.

  • Waiver and Amendment Any provision of this Agreement may be waived at any time by the party that is entitled to the benefits of such provision. This Agreement may not be modified, amended, altered or supplemented except upon the execution and delivery of a written agreement executed by the parties hereto.

  • Construction of this Amendment; Participation Agreement (a) This Amendment shall be interpreted to be consistent with, and to facilitate compliance with and reliance on, Rule 30e-3 under the 1940 Act and Rule 498A (including paragraph (j) thereof) under the 1933 Act and any interpretations of those Rules by the Securities and Exchange Commission, its staff, courts, or other appropriate legal authorities. (b) To the extent the terms of this Amendment conflict with the terms of the Participation Agreement, the terms of this Amendment shall control; otherwise, and except as otherwise specifically set forth in this Amendment, the terms of the Participation Agreement shall continue to apply, and shall apply to the duties, responsibilities, rights and obligations of the Parties under and pursuant to this Amendment.

  • Amendment of Credit Agreement (a) Effective as of the First Incremental Term Facility Amendment Effective Date, the Credit Agreement is hereby amended as follows: (i) The following definitions are hereby added in the appropriate alphabetical order to Section 1.01:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!