Term B Facility. The Borrower shall repay the outstanding principal amount of the Term B Loans in installments on the dates set forth below, in each case, in the respective amounts set forth in the table below, unless accelerated sooner pursuant to Section 9.02: provided, however, that, (x) the final principal repayment installment of the Term B Loans shall be repaid on the Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (y) if any principal repayment installment to be made by the Borrower shall come due on a day other than a Business Day, such principal repayment installment shall be due on the first preceding Business Day.
Term B Facility. The Borrower shall repay the outstanding principal amount of the Term B Loans in installments on the dates set forth below, in each case, in the respective amounts set forth in the table below, unless accelerated sooner pursuant to Section 9.02: June 30, 2025 25.00% September 30, 2025 25.00% December 31, 2025 25.00% Maturity Date Outstanding Principal Balance of Term B Loans provided, however, that, (x) the final principal repayment installment of the Term B Loans shall be repaid on the Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (y) if any principal repayment installment to be made by the Borrower shall come due on a day other than a Business Day, such principal repayment installment shall be due on the first preceding Business Day.
Term B Facility. (i) The Term B Lenders have made certain “MetLife Fixed Rate Loans” to the Borrower under the Prior Loan Agreement (collectively, the “Existing Term B Advances”), the outstanding principal balance of which as of the Closing Date is $13,400,000.00. The Borrower’s obligation to pay the Existing Term B Advances is secured by the Collateral. The Existing Term B Advances shall constitute Term B Advances for purposes of this Agreement, shall be secured by the Collateral and shall be repayable in accordance with this Agreement.
(ii) The Borrower acknowledges and agrees that, as of the Closing Date, each Term B Lender has satisfied any and all funding obligations with respect to each Term B Advance and, following the Closing Date, no Term B Lender has any further obligation to extend any loan or advance any funds with respect to any Term B Commitment.
Term B Facility. The Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders on the Termination Date for the Term B Facility the aggregate principal amount of all Term B Advances outstanding on such date.
Term B Facility. At any time on or after the Effective Date but prior to the earlier to occur of (x) March 31, 2017 and (y) the Facility Termination Date, upon prior written notice by the Borrowers to the Administrative Agent, the Borrowers may institute the Term B Facility in an aggregate amount not to exceed THIRTY-FIVE MILLION DOLLARS ($35,000,000); provided, that,
(a) the Borrowers shall have obtained commitments for the amount of the Term B Facility from existing Lenders or other Persons reasonably acceptable to the Administrative Agent, which Lenders shall join in this Agreement pursuant to such agreements as are reasonably acceptable to the Administrative Agent;
(b) any such institution of the Term B Facility shall be in a minimum aggregate principal amount of $10,000,000 and integral multiples of $1,000,000 in excess thereof;
(i) no Default or Event of Default shall exist and be continuing at the time of such institution, (ii) the Term B Facility shall only be used to fund the Transformative Acquisition and to pay fees and expenses in connection therewith and (iii) the conditions precedent set forth in Section 5.04 shall have been satisfied prior to or contemporaneously with funding of the Term B Loans;
(d) (i) the Term B Facility Maturity Date shall be as set forth in the Term B Facility Joinder Agreement; provided, that, such date shall not be earlier than the Term A Facility Maturity Date, (ii) the scheduled principal amortization payments for the Term B Facility shall be as set forth in the Term B Facility Joinder Agreement; provided, that, the weighted average life to maturity of the Term B Loans shall not be less than the weighted life to maturity of the Term A Loans and (iii) unless otherwise agreed by the Administrative Agent and the Required Lenders (at the time of incurrence of the Term B Facility), the interest rate, prepayment premiums and original issue discount for the Term B Facility shall be identical to the interest rate, prepayment premiums and original issue discount, as the case may be, for the Term A Facility;
(e) the Borrowers shall have paid all fees required to be paid in connection therewith, whether pursuant to the Fee Letter or otherwise;
(f) Schedule 2.01 shall be deemed revised to reflect the commitments and commitment percentages of the Term B Lenders, as set forth in the Term B Facility Joinder Agreement;
(g) no Lender shall be obligated to participate in such Term B Facility, which decision shall be made in the sole discretion of eac...
Term B Facility under the Term B Facility, in a single draw on the Closing Date; and any unused amount of the Term B Facility shall be permanently canceled as of the close of business on the Closing Date and the Total Initial Term B Commitments shall be permanently reduced and canceled in an equal amount (on a pro rata basis among the Term B Lenders based upon their respective Initial Term B Commitments); provided that, after the Closing Date and subject to the other terms and conditions of this Agreement, Accommodations by way of Conversion and Rollover shall be available under each Credit Facility up to the Maturity Date for such Credit Facility.
Term B Facility. The Term B Facility is not a revolving facility, and amounts repaid or prepaid under the Term B Facility may not be reborrowed and shall give rise to a cancellation and reduction of the relevant Commitments as set forth in Section 2.4.
Term B Facility. Each Term B Lender hereby agrees, on the terms and subject to the conditions herein set forth, to make a single Term B Advance to the Borrower on the Closing Date in an amount for such Term B Lender equal to such Term B Lender’s Term B Commitment. Initially, the Term B Advances shall be funded as Floating Rate Loans, subject to conversion pursuant to Section 2.3. The Term B Facility is not a revolving facility; once the initial Term B Advance is made by a Term B Lender, such Term B Lender shall have no further obligation to make any additional Term B Advances to the Borrower under the Term B Facility, whether or not any amounts are repaid thereunder.
Term B Facility. Simultaneously with the closing of this --------------- Amendment and the extensions of credit under the Term C Facility, a portion of the proceeds of the Term C Facility shall be used to pay the principal amount outstanding of the Term B Facility (as defined in the Credit Agreement as in effect immediately prior to the First Amendment Effective Date (the "Existing -------- Credit Agreement")) (and any interest and fees, including, without limitation, ---------------- breakage costs, owing with respect thereto) in full.
Term B Facility. Each Term B Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance (a “Term B Loan”) to the Borrower on the Effective Date in an amount not to exceed such Lender’s Term B Commitment at such time. The Term B Borrowing shall consist of Term B Loans made simultaneously by the Term B Lenders ratably according to their Term B Commitments. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed.
