Sector Loan Facility Clause Samples

Sector Loan Facility. If the Credit Support Parties (or either of them) are required to perform their obligations under the Guaranty for the BMO Loan, the Obligors agree that they will enter into a loan facility with the Credit Support Parties on substantially the same terms and subject to substantially the same conditions as set forth in the BMO Loan, except that, subject to Section 2.01(c) above, the interest rate shall be the sum of (x) the interest rate provided for under the BMO Loan plus (y) the Sector Additional Rate, and in a principal amount equal to the amount of the Guaranty so funded by such Credit Support Parties (the “Sector Loan Facility”; any loans made thereunder being referred to as the “Sector Loans”) and use the proceeds of such loans to fully repay the BMO Loan; provided that the portion of the accrued interest constituting the Sector Additional Rate may, at the option of Berliner (and until such time as the Special Committee ceases to exist in accordance with the terms of the Charter Amendment, with the prior approval of the Special Committee), be paid in shares of Berliner Series B Preferred Stock, calculated on the basis of the Original Purchase Price; provided, further, that if any of the Unitek Credit Agreements do not permit the borrowers thereunder to make dividends to the Obligors to pay the portion of the accrued interest constituting the Sector Additional Rate in cash, then the portion of the accrued interest constituting the Sector Additional Rate shall be paid in shares of Berliner Series B Preferred Stock. Accrued interest shall be payable quarterly in arrears; provided that to the extent the portion of the accrued interest constituting the Sector Additional Rate is paid by the issuance of shares of Berliner Series B Preferred Stock, such shares shall be issued quarterly; provided, further, that if the prior approval of the Special Committee is required to determine whether the portion of the accrued interest constituting the Sector Additional Rate is to be paid in cash or in shares of Berliner Series B Preferred Stock and the Special Committee has not made a determination as to such payment before it is due, then the portion of the accrued interest constituting the Sector Additional Rate shall be paid in shares of Berliner Series B Preferred Stock.