Common use of Term A Loans Clause in Contracts

Term A Loans. (a) The Company hereby unconditionally promises to repay the Replacement Term A Loans borrowed by it to the Administrative Agent for the account of each Replacement Term A Lender in quarterly principal installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four (4) quarterly installments, in the amount of 1.25% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling on or after the last Business Day of the first full fiscal quarter of the Company following the Replacement Facilities Effective Date and continuing until the last Business Day of the fourth (4th) such quarterly period following the Replacement Facilities Effective Date; (ii) for the fifth (5th) through eighth (8th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(i) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the Replacement Facilities Effective Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the Replacement Facilities Effective Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(iii) above and continuing until the last Business Day of the sixteenth (16th) such quarterly period following the Replacement Facilities Effective Date; (v) for each quarterly installment after such 16th installment referred to in clause (iv) above, in the amount of 3.75% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(iv) above and continuing until the last Business Day of such quarterly period ending immediately prior to the Term A Maturity Date; and (vi) to the extent not previously paid, all unpaid Replacement Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date. (b) The Company hereby unconditionally promises to repay the Delayed Draw Term A Loans borrowed by it to the Administrative Agent for the account of each Delayed Draw Term A Lender in quarterly installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four (4) quarterly installments, in the amount of 1.25% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling on or after the last Business Day of the first full fiscal quarter of the Company following the first Delayed Draw Borrowing Date and continuing until the last Business Day of the fourth (4th) such quarterly period following the first Delayed Draw Borrowing Date; (ii) for the fifth (5th) through eighth (8th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(i) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the first Delayed Draw Borrowing Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the first Delayed Draw Borrowing Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iii) above and continuing until the last Business Day of the sixteenth (16th) such quarterly period following the first Delayed Draw Borrowing Date; (v) for each quarterly installment after such 16th installment referred to in clause (d) above, in the amount of 3.75% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iv) above and continuing until the last Business Day of such quarterly period ending immediately prior to the Term A Maturity Date; and (vi) to the extent not previously paid, all unpaid Delayed Draw Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date.

Appears in 4 contracts

Samples: Credit Agreement (DIEBOLD NIXDORF, Inc), Credit Agreement (Diebold Inc), Credit Agreement (Diebold Inc)

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Term A Loans. (a) The Company hereby unconditionally promises to Each Borrower shall repay the Replacement Term A Loans borrowed by made byto it to in the Administrative Agent for the account applicable currency of each Replacement such Term A Lender Loans in quarterly principal installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four eight (4) 8) quarterly installments, in the amount of 1.25% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closingoutstanding on the Fourth Amendment Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling on or after the last Business Day day of the first full fiscal quarter of the Company Parent Borrower following the Replacement Facilities Effective Rothsay Acquisition Closing Date and continuing until the last Business Day day of the fourth eighth (4th8th) such quarterly period following the Replacement Facilities Effective DateRothsay Acquisition Closing Date;applicable year, with the first such quarterly installment to commence and be due on March 31, 2017; (ii) for the fifth following ninth (5th9th) through eighth sixteenth (8th16th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closingoutstanding on the Fourth Amendment Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling after the last quarterly payment made pursuant to clause (a)(ii) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the Replacement Facilities Effective Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the Replacement Facilities Effective Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(iii) above and continuing until the last Business Day day of the sixteenth (16th) such quarterly period following the Replacement Facilities Effective DateRothsay Acquisition Closing Date;applicable year; (viii) for each quarterly installment after such 16th installment referred to in clause (ivii) above, in the amount of 3.75% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closingoutstanding on the Fourth Amendment Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling after the last quarterly payment made pursuant to clause (a)(ivii) above and continuing until the last Business Day day of such quarterly period ending immediately prior to the Term A Loan Maturity Date; andapplicable year; and (viiv) to the extent not previously paid, all unpaid Replacement Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date. (b) The Company hereby unconditionally promises to repay the Delayed Draw Term A Loans borrowed by it to the Administrative Agent for the account of each Delayed Draw Term A Lender in quarterly installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four (4) quarterly installments, one final installment in the amount of 1.25% of the aggregate principal amount of the Delayed Draw Amortization Amountrelevant Term A Loans then outstanding, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling on or after the last Business Day of the first full fiscal quarter of the Company following the first Delayed Draw Borrowing Date and continuing until the last Business Day of the fourth (4th) such quarterly period following the first Delayed Draw Borrowing Term A Loan Maturity Date; (ii) for the fifth (5th) through eighth (8th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(i) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the first Delayed Draw Borrowing Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the first Delayed Draw Borrowing Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iii) above and continuing until the last Business Day of the sixteenth (16th) such quarterly period following the first Delayed Draw Borrowing Date; (v) for each quarterly installment after such 16th installment referred to in clause (d) above, in the amount of 3.75% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iv) above and continuing until the last Business Day of such quarterly period ending immediately prior to the Term A Maturity Date; and (vi) to the extent not previously paid, all unpaid Delayed Draw Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Darling Ingredients Inc.)

Term A Loans. (a) The Company hereby unconditionally promises to Each Borrower shall repay the Replacement Term A Loans borrowed made by it to in the Administrative Agent for the account applicable currency of each Replacement such Term A Lender Loans in quarterly principal installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four eight (4) 8) quarterly installments, in the amount of 1.25% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closing Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling on or after the last Business Day day of the first full fiscal quarter of the Company Parent Borrower following the Replacement Facilities Effective Rothsay Acquisition Closing Date and continuing until the last Business Day day of the fourth eighth (4th8th) such quarterly period following the Replacement Facilities Effective Rothsay Acquisition Closing Date; (ii) for the fifth ninth (5th9th) through eighth sixteenth (8th16th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closing Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling after the last quarterly payment made pursuant to clause (a)(ii) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the Replacement Facilities Effective Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the Replacement Facilities Effective Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(iii) above and continuing until the last Business Day day of the sixteenth (16th) such quarterly period following the Replacement Facilities Effective Rothsay Acquisition Closing Date; (viii) for each quarterly installment after such 16th installment referred to in clause (ivii) above, in the amount of 3.75% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closing Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling after the last quarterly payment made pursuant to clause (a)(ivii) above and continuing until the last Business Day day of such quarterly period ending immediately prior to the Term A Loan Maturity Date; and (viiv) to the extent not previously paid, all unpaid Replacement Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date. (b) The Company hereby unconditionally promises to repay the Delayed Draw Term A Loans borrowed by it to the Administrative Agent for the account of each Delayed Draw Term A Lender in quarterly installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four (4) quarterly installments, one final installment in the amount of 1.25% of the aggregate principal amount of the Delayed Draw Amortization Amountrelevant Term A Loans then outstanding, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling on or after the last Business Day of the first full fiscal quarter of the Company following the first Delayed Draw Borrowing Date and continuing until the last Business Day of the fourth (4th) such quarterly period following the first Delayed Draw Borrowing Term A Loan Maturity Date; (ii) for the fifth (5th) through eighth (8th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(i) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the first Delayed Draw Borrowing Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the first Delayed Draw Borrowing Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iii) above and continuing until the last Business Day of the sixteenth (16th) such quarterly period following the first Delayed Draw Borrowing Date; (v) for each quarterly installment after such 16th installment referred to in clause (d) above, in the amount of 3.75% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iv) above and continuing until the last Business Day of such quarterly period ending immediately prior to the Term A Maturity Date; and (vi) to the extent not previously paid, all unpaid Delayed Draw Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Darling Ingredients Inc.)

Term A Loans. (a) The Company hereby unconditionally promises to repay the Replacement Term A Loans borrowed by it to the Administrative Agent for the account of each Replacement Term A Lender in quarterly principal installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four (4) quarterly installments, in the amount of 1.25% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling on or after the last Business Day of the first full fiscal quarter of the Company following the Replacement Facilities Effective Date and continuing until the last Business Day of the fourth (4th) such quarterly period following the Replacement Facilities Effective Date; (ii) for the fifth (5th) through eighth (8th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(i) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the Replacement Facilities Effective Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the Replacement Facilities Effective Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(iii) above and continuing until the last Business Day of the sixteenth (16th) such quarterly period following the Replacement Facilities Effective Date; (v) for each quarterly installment after such 16th installment referred to in clause (iv) above, in the amount of 3.75% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of 509265-1946-Active.21307007.121307007.7 such month falling after the last quarterly payment made pursuant to clause (a)(iv) above and continuing until the last Business Day of such quarterly period ending immediately prior to the Term A Maturity Date; and (vi) to the extent not previously paid, all unpaid Replacement Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date. (b) The Company hereby unconditionally promises to repay the Delayed Draw Term A Loans borrowed by it to the Administrative Agent for the account of each Delayed Draw Term A Lender in quarterly installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four (4) quarterly installments, in the amount of 1.25% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling on or after the last Business Day of the first full fiscal quarter of the Company following the first Delayed Draw Borrowing Date and continuing until the last Business Day of the fourth (4th) such quarterly period following the first Delayed Draw Borrowing Date; (ii) for the fifth (5th) through eighth (8th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(i) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the first Delayed Draw Borrowing Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the first Delayed Draw Borrowing Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iii) above and continuing until the last Business Day of the sixteenth (16th) such quarterly period following the first Delayed Draw Borrowing Date; (v) for each quarterly installment after such 16th installment referred to in clause (d) above, in the amount of 3.75% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iv) above and 509265-1946-Active.21307007.121307007.7 continuing until the last Business Day of such quarterly period ending immediately prior to the Term A Maturity Date; and (vi) to the extent not previously paid, all unpaid Delayed Draw Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date.

Appears in 1 contract

Samples: Incremental Amendment (DIEBOLD NIXDORF, Inc)

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Term A Loans. (a) The Company hereby unconditionally promises to Each Borrower shall repay the Replacement Term A Loans borrowed made by it to in the Administrative Agent for the account applicable currency of each Replacement such Term A Lender Loans in quarterly principal installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four eight (4) 8) quarterly installments, in the amount of 1.25% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closing Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling on or after the last Business Day day of the first full fiscal quarter of the Company Parent Borrower following the Replacement Facilities Effective Rothsay Acquisition Closing Date and continuing until the last Business Day day of the fourth eighth (4th8th) such quarterly period following the Replacement Facilities Effective Rothsay Acquisition Closing Date; (ii) for the fifth ninth (5th9th) through eighth sixteenth (8th16th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closing Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling after the last quarterly payment made pursuant to clause (a)(ia) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the Replacement Facilities Effective Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the Replacement Facilities Effective Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Replacement Term A Loan Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (a)(iii) above and continuing until the last Business Day day of the sixteenth (16th) such quarterly period following the Replacement Facilities Effective Rothsay Acquisition Closing Date; (viii) for each quarterly installment after such 16th installment referred to in clause (ivb) above, in the amount of 3.75% of the aggregate principal amount of the Replacement relevant Term A Loan Amortization AmountLoans made on the Rothsay Acquisition Closing Date, each each, due and payable on the last Business Day day of each March, June, September and December December, of each year, year commencing on the last Business Day day of such month falling after the last quarterly payment made pursuant to clause (a)(ivb) above and continuing until the last Business Day day of such quarterly period ending immediately prior to the Term A Loan Maturity Date; and (viiv) to the extent not previously paid, all unpaid Replacement Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date. (b) The Company hereby unconditionally promises to repay the Delayed Draw Term A Loans borrowed by it to the Administrative Agent for the account of each Delayed Draw Term A Lender in quarterly installments (and in the date set forth in clause (vi) below), as follows: (i) for the first four (4) quarterly installments, one final installment in the amount of 1.25% of the aggregate principal amount of the Delayed Draw Amortization Amountrelevant Term A Loans then outstanding, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling on or after the last Business Day of the first full fiscal quarter of the Company following the first Delayed Draw Borrowing Date and continuing until the last Business Day of the fourth (4th) such quarterly period following the first Delayed Draw Borrowing Term A Loan Maturity Date; (ii) for the fifth (5th) through eighth (8th) quarterly installments, in the amount of 1.875% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(i) above and continuing until the last Business Day of the eighth (8th) such quarterly period following the first Delayed Draw Borrowing Date; (iii) for the ninth (9th) through twelfth (12th) quarterly installments, in the amount of 2.5% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(ii) above and continuing until the last Business Day of the twelfth (12th) such quarterly period following the first Delayed Draw Borrowing Date; (iv) for the thirteenth (13th) through sixteenth (16th) quarterly installments, in the amount of 3.125% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iii) above and continuing until the last Business Day of the sixteenth (16th) such quarterly period following the first Delayed Draw Borrowing Date; (v) for each quarterly installment after such 16th installment referred to in clause (d) above, in the amount of 3.75% of the aggregate principal amount of the Delayed Draw Amortization Amount, each due and payable on the last Business Day of each March, June, September and December of each year, commencing on the last Business Day of such month falling after the last quarterly payment made pursuant to clause (b)(iv) above and continuing until the last Business Day of such quarterly period ending immediately prior to the Term A Maturity Date; and (vi) to the extent not previously paid, all unpaid Delayed Draw Term A Loans shall be paid in full in cash by the Company on the Term A Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Darling International Inc)

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