Subsequent Term Loan Sample Clauses

Subsequent Term Loan. Upon Agent’s receipt of a written request from Borrower for a subsequent advance of the Loan during the period beginning on the Closing Date and ending December 31, 2014, Lenders shall, so long as (i) no Default or Event of Default has occurred and is continuing and (ii) Agent shall have received the fully-executed Subsequent Term Loan Warrant, make one additional advance (within thirty (30) days of receipt by Agent of such written request for advance) to Borrower in an amount equal to Two Million and No/100 Dollars ($2,000,000).
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Subsequent Term Loan. During the period beginning on the Closing Date and ending February 28, 2016, so long as (x) no Default or Event of Default has occurred and is continuing, (y) the Aggregate Revenue recognized by Borrower and any of its Subsidiaries during any period of four (4) consecutive Fiscal Quarters ending prior to December 31, 2015, exceeds $25,000,000, and (z) Agent shall have received the fully-executed Subsequent Term Loan Warrant, upon Agent’s receipt of a written request from Borrower for a subsequent advance of the Loan, Lenders shall make (1) one additional advance (within thirty (30) days of receipt by Agent of such written request for advance) to Borrower in a maximum amount of Three Million Five-Hundred Thousand and No/100 Dollars ($3,500,000).
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Subsequent Term Loan. Subject to Borrower’s compliance with the terms and conditions set forth in Section 2.01(c), each Lender severally agrees to make its portion of the term loan (the “Subsequent Term Loan”) in an additional single advance (the “Subsequent Term Loan Advance”) to the Borrower in an amount not to exceed each Lender’s unadvanced Term Loan Commitment. Once advanced, the Subsequent Term Loan shall be aggregated with the Closing Date Term Loan and all such term loans shall be referred to as Committed Term Loans. Provided there exists no Default, upon notice to Administrative Agent (which shall promptly notify the Lenders), Parent and Borrower may elect to borrow the Subsequent Term Loan; provided that Parent and Borrower may make a maximum of one (1) such request which must be delivered not later than December 1, 2012 in order to be effective (the “Required Notice”). In the event that the Required Notice is not received by Administrative Agent on or prior to December 1, 2012, the Commitment of the Lenders to advance the Subsequent Term Loan shall be deemed cancelled.
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Subsequent Term Loan. During the period beginning on the Closing Date and ending December 31, 2018, so long as (a) no Material Adverse Effect, Default or Event of Default has occurred and is continuing, and (b) the Subsequent Minimum Capital Raise Condition has been satisfied, upon Agent’s receipt of a written request from Borrower for a subsequent advance of the Term Loan, Lenders shall make one (1) additional advance (within five (5) Business Days (or such shorter period as may be agreed to by the Agent) of receipt by Agent of such written request for advance) to Borrower in the aggregate amount equal to, but not less than, Five Million and No/100 Dollars ($5,000,000).
Sample 1
Subsequent Term Loan. During the period beginning on the Closing Date and ending March 15, 2017, so long as (a) no Material Adverse Effect, Default or Event of Default has occurred and is continuing, (b) the Aggregate Revenue of Borrower and its Subsidiaries for the four (4) consecutive Fiscal Quarters most recently ended as of the date of the advance request referenced below exceeds $47,000,000, (c) Agent shall have received evidence reasonably acceptable to Agent of the issuance of additional Equity Interests of Borrower after the Closing Date, on terms and conditions reasonably satisfactory to Agent, resulting in net cash proceeds to Borrower of not less than $2,500,000 and (d) Agent shall have received the fully-executed Subsequent Term Loan Warrant, upon Agent’s receipt of a written request from Borrower for a subsequent advance of the Term Loan, Lenders shall make (1) one additional advance (within fifteen (15) days of receipt by Agent of such written request for advance) to Borrower in the aggregate amount equal to, but not less than, Two Million Five Hundred Thousand and No/100 Dollars ($2,500,000).
Sample 1
Subsequent Term Loan. So long as no Material Adverse Effect, Default or Event of Default has occurred and is continuing or would be caused thereby and each of the Subsequent Term Loan Conditions has been satisfied, upon Agent’s receipt of a written request from Borrower for a subsequent advance of the Term Loan, each Lender shall make one (1) additional advance (within five (5) Business Days of receipt by Agent of such written request for advance) to Borrower in the amount equal to such lender’s Pro Rata Term Loan Share of up to Eight Million and No/100 Dollars ($8,000,000.00). For the avoidance of doubt, any such Subsequent Term Loan Funding hereunder shall constitute part of the Term Loan for all purposes hereunder.
Sample 1
Subsequent Term Loan. So long as no Material Adverse Effect, Default or Event of Default has occurred and is continuing or would be caused thereby and the Subsequent Term Loan Conditions have been satisfied on or before the Fiscal Quarter ending September 30, 2023, upon Agent’s receipt of a written request from Borrower, on or before the date that the financial statements with respect to such Fiscal Quarter are required to be delivered in accordance with Section 6.1.2(a) hereof, for a subsequent advance of the Term Loan, each Lender shall make one (1) additional advance (within five (5) Business Days of receipt by Agent of such written request for advance) to Borrower in the amount equal to, but not less than, such lender’s Pro Rata Share of Four Million and No/100 Dollars ($4,000,000). 2.3
Sample 1
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Related to Subsequent Term Loan

  • Initial Term Loans Subject to the terms and conditions hereof, each Lender holding an Initial Term Loan Commitment severally agrees to make, in Dollars, in a single draw on the Closing Date, one or more term loans (each, an “Initial Term Loan”) to the Borrower in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name in Schedule A under the heading “Initial Term Loan Commitment”, as such amount may be adjusted or reduced pursuant to the terms hereof, which Initial Term Loans:

  • Additional Term Loans Subject only to the satisfaction or waiver of the conditions expressly set forth in Section 4 of the Eleventh Amendment, each 2014-1 Additional Term Lender agrees to make a loan in Dollars (the “2014-1 Additional Term Loans”) to the Borrower on the Eleventh Amendment Effective Date in the aggregate principal amount of such Lender’s 2014-1 Additional Term Commitment. No amount of a 2014-1 Additional Term Loan which is repaid or prepaid by the Borrower may be reborrowed hereunder. The 2014-1 Additional Term Loans shall be denominated in Dollars, shall be maintained as and/or converted into Base Rate Loans or Eurocurrency Loans or a combination thereof, provided, that all 2014-1 Additional Term Loans made by the 2014-1 Additional Term Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of 2014-1 Additional Term Loans of the same Type. The proceeds of the 2014-1 Additional Term Loans made on the Eleventh Amendment Effective Date shall be placed into escrow with the Eleventh Amendment Escrow Agent on the terms set forth in the Eleventh Amendment Escrow Agreement. Subject only to the satisfaction or waiver of the conditions set forth in (x) Section 5.5 or (y) Section 5.2 and Section 5.6, as applicable, and the additional conditions expressly set forth in the Eleventh Amendment Escrow Agreement, the 2014-1 Additional Term Loans shall be released from escrow on the Eleventh Amendment Release Date. If the 2014-1 Additional Term Loans Termination Date occurs, the proceeds of the 2014-1 Additional Term Loans shall be released from escrow on the conditions set forth in the Eleventh Amendment Escrow Agreement and refunded and repaid in full (together with all accrued and unpaid interest thereon) to the 2014-1 Additional Term Lenders on the 2014-1 Additional Term Loan Maturity Date in accordance with the Eleventh Amendment Escrow Agreement.

  • The Term Loan On the terms and conditions set forth in the MLA and this Promissory Note and Supplement, CoBank agrees to make a loan to the Company in an amount not to exceed $20,000,000.00 (the “Commitment”). The Commitment shall expire at 12:00 noon (Company’s local time) on January 30, 2012, or on such later date as CoBank may, in its sole discretion, authorize in writing.

  • Extended Term Loans (a) Notwithstanding anything to the contrary in this Agreement, subject to the terms of this Section 2.14, Lead Borrower may at any time and from time to time request that all or a portion of any Tranche of Term Loans (each, an “Existing Term Loan Tranche”), be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all or any portion of such Existing Term Loan Tranche (any such Term Loans which have been so converted, “Extended Term Loans”) and to provide for other terms consistent with this Section 2.14. In order to establish any Extended Term Loans, Lead 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 Tranche) (each, an “Extension Request”) setting forth the proposed terms of the Extended Term Loans to be established, which shall (x) be identical as offered to each Lender under the relevant Existing Term Loan Tranche (including as to the proposed interest rates and fees payable) and (y) have the same terms as the Existing Term Loan Tranche 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 Term Loans of such Existing Term Loan Tranche to the extent provided in the applicable Extension Amendment; (ii) the Effective Yield with respect to the Extended Term Loans (whether in the form of interest rate margin, upfront fees, original issue discount or otherwise) may be different than the Effective Yield for the Term Loans of such Existing Term Loan Tranche; (iii) the Extension Amendment may provide for other covenants and terms that apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the applicable Extension Amendment (immediately prior to the establishment of such Extended Term Loans); (iv) Extended Term Loans may have mandatory prepayment terms which provide for the application of proceeds from mandatory prepayment events to be made first to prepay the Term Loans under the Existing Term Loan Tranche from which such Extended Term Loans have been converted before applying any such proceeds to prepay such Extended Term Loans; (v) Extended Term Loans may have optional prepayment terms (including call protection and terms which allow Term Loans under the relevant Existing Term Loan Tranche from which such Extended Term Loans have been converted to be optionally prepaid prior to the prepayment of such Extended Term Loans) as may be agreed by Lead Borrower and the Lenders thereof and (vi) such Extended Term Loans may have other terms (other than those described in the preceding clause (i) through (v)) that differ from those of the Existing Term Loan Tranche, in each case, taken as a whole, that are not materially more favorable to the Lenders providing such Extended Term Loans than the provisions applicable to the Existing Term Loan Tranche or as are otherwise reasonably satisfactory to the Administrative Agent. Any Extended Term Loans converted pursuant to any Extension Request shall be designated a series (each, an “Extension Series”) of Extended Term Loans for all purposes of this Agreement; provided that, subject to the requirements set forth above, any Extended Term Loans converted from an Existing Term Loan Tranche may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Tranche of Term Loans.

  • Tranche B Term Loans Each Tranche B Term Loan Lender having an Original Tranche B Term Loan Commitment severally agrees to lend to Company on the Closing Date an amount not exceeding its pro rata share of the aggregate amount of the Original Tranche B Term Loan Commitments, which pro rata share is set forth opposite its name on SCHEDULE 2.1 attached hereto, and each Tranche B Term Loan Lender having an Additional Tranche B Term Loan Commitment severally agrees to lend to Company on the First Amendment Closing Date an amount not exceeding its pro rata share of the aggregate amount of the Additional Tranche B Term Loan Commitments, which pro rata share is set forth opposite its name on SCHEDULE 2.1 attached hereto, in each case to be used for the purposes identified in subsection 2.5A. The amounts of each Tranche B Term Loan Lender's Original Tranche B Term Loan Commitment and each Tranche B Term Loan Lender's Additional Tranche B Term Loan Commitment are set forth opposite such Tranche B Term Loan Lender's name on SCHEDULE 2.1 annexed hereto. The aggregate amount of the Original Tranche B Term Loan Commitments is $45,000,000, the aggregate amount of the Additional Tranche B Term Loan Commitments is $20,000,000 and the aggregate amount of the Tranche B Term Loan Commitments is $65,000,000; PROVIDED that the Tranche B Term Loan Commitments of Tranche B Term Loan Lenders shall be adjusted to give effect to any assignments of the Tranche B Term Loan Commitments pursuant to subsection 10.1B. Each Tranche B Term Loan Lender's Original Tranche B Term Loan Commitment shall expire immediately and without further action on the earlier of (i) October 31, 1998, if the Original Tranche B Term Loans are not made on or before that date and (ii) at the close of business on the Closing Date. Company may make only one borrowing under the Original Tranche B Term Loan Commitments and may make only one borrowing under the Additional Tranche B Term Loan Commitments. Amounts borrowed under this subsection 2.1A(ii) and subsequently repaid or prepaid may not be reborrowed.

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