Term Advance. Except as set forth in Section 2.3(b), the Term Advance shall bear interest, on the outstanding daily balance thereof, at a rate equal to one and one half percent (1.50%) above the Prime Rate.
Term Advance. Each Term Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance to the Borrower on any one Business Day during the period from the Closing Date until the Term Commitment Termination Date in an amount not to exceed such Term Lender’s Term Commitment. The Term Borrowing shall consist of Term Advances of the same Type made simultaneously by the Term Lenders on such Business Day ratably according to their Term Commitments. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.
Term Advance. (a) The Lender agrees, subject to the terms and conditions of this Agreement, to make advances to the Borrowers from time to time from the Funding Date and prior to the date which is twelve (12) months from the Funding Date (each a “Term Advance”). The Lender shall have no obligation to make a Term Advance if, after giving effect to such requested Term Advance, the outstanding principal balance of the Term Advances would exceed $6,000,000 reduced by the aggregate amount of the scheduled principal payments described in Section 2.6. The Borrowers’ joint and several obligation to pay the Term Advances shall be evidenced by the Term Note and shall be secured by the Collateral as provided in Article III.
(b) The Borrowers shall comply with the following procedures in requesting Term Advances:
(i) The Borrowers shall make each request for a Term Advance provided that it is received by the Lender no later than the Cut-off Time on the Business Day on which the Borrowers wish to receive the Term Advance, and provided that the request specifies the amount and the date of the requested Term Advance.
(ii) Each Term Advance shall be in multiples of $1,000,000, with a minimum initial Term Advance amount of at least $2,000,000.
(iii) Each request shall be by a Person authorized pursuant to Section 2.2(a).
(c) Upon fulfillment of the applicable conditions set forth in Article IV, the Lender shall deposit the proceeds of the requested Term Advance by crediting the same to the Borrowers’ demand deposit account specified in Section 2.2(d). Upon the Lender’s request, the Borrowers shall promptly confirm each request for a Term Advance or any alternative method of disbursing a Term Advance by executing and delivering an appropriate confirmation certificate to the Lender. The Borrowers shall be obligated to repay all Term Advances notwithstanding the Lender’s failure to receive such confirmation and notwithstanding the fact that the Person requesting the same was not in fact authorized to do so. Any request for a Term Advance, whether written or telephonic, shall be deemed to be a representation by the Borrowers, upon which the Lender may rely, that the Borrowers are in compliance with the conditions set forth in Section 4.2 as of the time of the request.
Term Advance. Each Term Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance (each a “Term Advance”) to AYE on the Closing Date in an amount not to exceed such Term Lender’s Term Commitment. The Term Borrowing shall consist of Term Advances of the same Type made simultaneously by the Term Lenders on such Business Day ratably according to their Term Commitments. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.
Term Advance. (a) The Lender agrees, subject to the terms and conditions of this Agreement, to make a single advance to the Borrower on the Funding Date (the “Term Advance”) in the amount of $2,238,000. The Borrower’s obligation to pay the Term Advance shall be evidenced by the Term Note and shall be secured by the Collateral as provided in Article III.
(b) Upon fulfillment of the applicable conditions set forth in Article IV, the Lender shall deposit the proceeds of the Term Advance by crediting the same to the Borrower’s demand deposit account specified in Section 2.2(c) unless the Lender and the Borrower shall agree in writing to another manner of disbursement.
Term Advance. Subject to and upon the terms and conditions of this Agreement, Borrower may request, and Bank shall lend, one Term Advance to Borrower on the First Amendment Date in a principal amount of Five Million Dollars ($5,000,000). Borrower shall use the proceeds of the Term Advance in connection with the transaction involving Hyfiniti, and pay related costs over the year following that transaction. Borrower shall make interest-only payments on the principal amount of the Term Advance on the last Business Day of each month, beginning October 31, 2013 and continuing through September 30, 2014. Beginning October 31, 2014, and continuing on the last day of each succeeding month, Borrower shall make equal monthly payments of principal, plus accrued interest, on the Term Advance. On the Term Maturity Date, Borrower shall pay Bank an amount equal to all accrued but unpaid interest and any outstanding principal of the Term Advance. Borrower may prepay all, but not less than all, of the Term Advance, provided that Borrower shall pay a prepayment fee equal to one percent (1.0%) of the amount of any prepayment made on or before the first anniversary of the First Amendment Date, which fee shall be due at the time of such prepayment.
Term Advance. Subject to the terms and conditions of this Agreement and the Trust Indenture, Disbursing Agent shall disburse to Issuer (i) on the Closing Date, or as soon thereafter as practical, the proceeds of the Series 2023-A Notes issued under the Trust Indenture, in an aggregate amount of Sixty Million Dollars ($60,000,000) (the “Series 2023-A Term Advance”), (ii) on the Fifth Amendment Effective Date, or as soon thereafter as practical or as otherwise set forth in the Trust Indenture, the proceeds of the Series 2024-A Notes issued under the Trust Indenture, in an aggregate amount of Five Million Dollars ($5,000,000) and (iii) on the date of issuance, or as soon thereafter as practical, the proceeds of any Additional Series 2024-A Notes issued under the Trust Indenture, (clauses (ii) and (iii), the “Series 2024-A Term Advance”), and together with the Series 2023-A Term Advance, the “Term Advance”). Notwithstanding the foregoing, the reference to “the advance” in the definition of “Disbursement” in the Disbursement Monitoring Agreement shall be deemed to refer to the Series 2023-A Term Advance only.”
Term Advance. (a) Borrower and Bank acknowledge that Bank has made the Term Advance under the Original Agreement on or prior to the Term Availability Date in an amount equal to the Term Loan Amount. As of the date hereof, the outstanding principal amount of the Term Advance is $_________________. Amounts borrowed under this Section 2.1.2 may not be reborrowed once repaid.
(b) Interest shall accrue from the date of the Term Advance at the rate specified in Section 2.3(a). Bank shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower's deposit accounts or against the Committed Line, in which case those amounts shall thereafter accrue interest at the rate then applicable hereunder. Any interest not paid when due shall be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable hereunder. The Term Advance shall be payable in thirty-six (36) equal monthly installments of principal, plus accrued interest, beginning on the first (1st) calendar day of the month following the date of the Term Advance, and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all Obligations owing under this Section 2.1.2 shall be immediately due and payable.
Term Advance. (a) The Lender agrees, subject to the terms and conditions of this Agreement, to make a single advance to the Borrowers on March 31, 2006 (the ‘Term Advance’) in an amount equal to $5,000,0000. The Borrowers’ joint and several obligation to pay the Term Advance shall be evidenced by the Term Note and shall be secured by the Collateral as provided in Article III.
(b) The Borrowers shall make their request for the Term Advance to the Lender no later than the Cut-off Time on the Business Day on which the Borrowers wish to receive the Term Advance. Such request may be made in writing or by telephone, specifying the date of the requested Term Advance. Such request shall be by an individual authorized pursuant to Section 2.2. Upon fulfillment of the applicable conditions set forth in Article IV, the Lender shall deposit the proceeds of the requested Term Advance by crediting the same to Global’s demand deposit account specified in Section 2.2 unless the Lender and the Global shall agree in writing to another manner of disbursement. Upon the Lender’s request, Global shall promptly confirm any such telephonic request for the Term Advance by executing and delivering an appropriate confirmation certificate to the Lender. The Borrowers shall be obligated to repay the Term Advance notwithstanding the Lender’s failure to receive such confirmation and notwithstanding the fact that the Person requesting the same was not in fact authorized to do so. Any request for the Term Advance, whether written or telephonic, shall be deemed to be a representation by the Borrowers, upon which the Lender may rely, that the Borrowers are in compliance with the conditions set forth in Section 4.2 as of the time of the request.
Term Advance. The Total Term Commitment shall terminate at 5:00 p.m. (New York City time) on the Second Amendment Effective Date.
