Several Term Loans C. Subject to the terms and conditions hereof, each Term Loan C Lender severally agrees to make a term loan (each a “Term Loan C” and collectively the “Term Loans C”) to Borrowers on the Amendment Date in an amount equal to each such Term Loan C Lender’s Term Loan C Commitment, the proceeds of which shall be used for the purposes allowed in Section 7.1(d). Each Term Loan C Lender shall make the amount of such Lender’s Term Loan C available to Agent in same day funds, not later than 9:00 a.m. (Pacific time), on the Amendment Date, or as soon as practicable thereafter. After Agent’s receipt of the proceeds of the Term Loans C, Agent shall disburse the Term Loans C as directed pursuant to written disbursement instructions provided by Borrowers.
Appears in 2 contracts
Samples: Revolving Credit Agreement (National Technical Systems Inc /Ca/), Revolving Credit Agreement (National Technical Systems Inc /Ca/)
Several Term Loans C. Subject to the terms and conditions hereof, each Term Loan C Lender severally agrees to make a term loan (each a “"Term Loan C” " and collectively the “"Term Loans C”") to Borrowers on the Amendment Date September 21, 2006, or as soon as practicable thereafter, in an amount equal to each such Term Loan C Lender’s 's Term Loan C Commitment, the proceeds of which shall be used for to repay Revolving Loans used to pay the purposes allowed in Section 7.1(d)purchase price paid by Parent to acquire the Dynamic Assets. Each Term Loan C B Lender shall make the amount of such Lender’s 's Term Loan C B available to Agent in same day funds, not later than 9:00 a.m. (Pacific time), on the Amendment DateSeptember 21, 2006, or as soon as practicable thereafter. After Agent’s 's receipt of the proceeds of the Term Loans C, Agent shall disburse the Term Loans C as directed pursuant to written disbursement instructions provided by Borrowers.
Appears in 2 contracts
Samples: Revolving Credit Agreement (National Technical Systems Inc /Ca/), Revolving Credit Agreement (National Technical Systems Inc /Ca/)