Term B Loan. The Term B Loan, both for principal and interest not sooner paid, shall mature and be due and payable by the Borrower on the Term B Credit Termination Date.
Term B Loan. Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the “Term B Loan”) to the Borrower in Dollars on the Closing Date in an amount not to exceed such Lender’s Term B Loan Commitment. Amounts repaid on the Term B Loan may not be reborrowed. The Term B Loan may consist of Base Rate Loans or Eurocurrency Rate Loans, or a combination thereof, as further provided herein, provided, however, any Borrowings made on the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a funding indemnity letter not less than three (3) Business Days prior to the date of such Borrowing.
Term B Loan. The Company shall repay the outstanding principal amount of the Term B Loan in quarterly installments of $875,000 commencing on September 30, 2018 and on each December 31, March 31, June 30 and September 30 thereafter with the remaining outstanding balance due and payable on the Maturity Date of the Term B Loan (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.06 and increases with respect to any increase to the Term B Loan pursuant to Section 2.16), unless accelerated sooner pursuant to Section 8.02.
Term B Loan. (A) Subject to the terms and conditions hereof, each Term B Lender agrees to make a term loan (each a "Term B Loan" and, collectively, the "Term B Loans") on the Closing Date to each Borrower in the amount of that Borrower's Ratable Share of the applicable Term B Lender's Term B Loan Commitment. The obligations of each Term B Lender hereunder shall be several and not joint. Each such Term B Loan shall be evidenced by a promissory note substantially in the form of Exhibit 1.1(b)(ii) (each a "Term B Note" and collectively the "Term B Notes"), and, except as provided in Section 1.12, all of the Borrowers shall jointly execute and deliver the Term B Note to the applicable Term B Lender. Each Term B Note shall represent the obligation of each Borrower to pay its Ratable Share of the applicable Term B Lender's Term B Loan Commitment, together with interest thereon as prescribed in Section 1.5. The aggregate principal amount of the Term B Loan advanced to each Borrower shall be the primary obligation of that Borrower (but shall also be guaranteed by all other Borrowers pursuant to Section 12). Each Borrower's Ratable Share of the Term B Loan Commitment expressed in Dollars and as a percentage of the whole is set forth in Schedule 1.1(b) hereto.
(B) Each Borrower shall repay its Ratable Share of the Term B-1 Loans in eight (8)) consecutive quarterly installments on the first day of January, April, July and October of each year, commencing July 1, 2004 in an aggregate amount equal to $25,000 on each installment date:
Term B Loan. On the Amendment Agreement No. 1 Effective Date, the outstanding principal amount of the Multiple Advance Term Loans shall be automatically renamed the Term B Loan. All commitments for the Multiple Advance Term Loans shall terminate concurrently therewith. Such renaming will not require any action on the part of the Borrower, the Administrative Agent or the Lenders. The Term B Loan once repaid or prepaid may not be reborrowed.
Term B Loan. Each of the Term B Lenders severally agrees to make its portion of the term B loans (in the amount of its respective Term B Loan Committed Amount) to the Borrower on the Funding Date in a single advance in Dollars in an aggregate principal amount for all Term B Lenders of THREE HUNDRED FIFTY MILLION DOLLARS ($350,000,000) (the “Term B Loans”). The Term B Loans may consist of Base Rate Loans, Eurodollar Rate Loans or a combination thereto, as the Borrower may request. Amounts repaid on the Term B Loans may not be reborrowed.
Term B Loan. The Borrower shall repay the outstanding principal amount of the Term B Loan in quarterly installments equal to 0.25% of the aggregate principal amount of such Term B Loans outstanding on the Closing Date, commencing on the last day of the first full fiscal quarter ending after the Closing Date and on each December 31, March 31, June 30 and September 30 thereafter with the remaining outstanding balance due and payable on the Maturity Date of the Term B Loan (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.06 and increases with respect to any increase to the Term B Loan pursuant to Section 2.16), unless accelerated sooner pursuant to Section 8.02.
Term B Loan. The "Term B Loan" shall be in the amount of $9,000,000 (the "Term B Loan Amount") and shall be subject to the terms and conditions set forth herein and on the face of the notes attached as Exhibit B hereto.
Term B Loan. Absent the occurrence of any Event of Default, the unpaid principal amount of the Term B Loan shall bear interest at the rate of one percent (1%) per annum, but such interest shall merely accrue and not be payable until the earlier to occur of the following: (A) EBITDA for the year-long financial period ending as of the final date of any financial quarter shall equal or exceed $7,500,000, (B) the maturity (including as a result of acceleration) of the Bridge Loan (as such maturity may be from time to time extended by Tennessee Farmers in its absolute discretion) and the failure to pay the Bridge Loan in full timely pursuant to the terms thereof, (C) the occurrence of any Event of Default and ensuing acceleration of the entire indebtedness by Tennessee Farmers, and (D) the third anniversary of the Closing Date. Upon the occurrence of any such event (other than the acceleration of indebtedness described in clause (C) of the preceding sentence), the interest accrued on the unpaid principal amount of the Term B Loan at the pertinent interest rate(s) through the date of such occurrence shall be paid in full in cash within thirty (30) days of such date, and the interest accruing on the unpaid principal amount of the Term B Loan after the date of such occurrence shall be paid in cash on a quarterly basis on the final Business Day of each March, June, September and December, starting with the first such date after the occurrence of such event. All other terms and conditions found in the form of the Term B Notes shall apply to the Term B Loan. Upon the occurrence of any event consisting of the acceleration of indebtedness described in clause (C) of the second preceding sentence, all interest (including, without limitation, the interest accrued on the unpaid principal amount of the Term B Loan at the pertinent interest rate(s) through the date of such occurrence) shall be due and payable in full in cash immediately. In the case of any Event of Default hereunder, interest shall accrue on the unpaid principal amount of the Term B Loan at the A and Term B Loan Default Rate and shall be payable in cash as described in the foregoing.
Term B Loan. Absent acceleration pursuant to Section 8.2(a) hereof, principal repayments on the Term B Loan shall be deferred for as long as interest payments on the Term B Loan are deferred pursuant to Section 2.1(b). Thereafter, and absent the occurrence of any such prior acceleration, the unpaid principal balance of the Term B Loan shall be payable in equal consecutive quarterly principal installments of not less than $225,000, which shall be due and payable on the last Business Day of each March, June, September and December, with the first payment being due and payable upon the first such date occurring after the termination of the deferral of interest payments pursuant to Section 2.1(b) hereof. Absent acceleration pursuant to Section 8.2(a) hereof, a final installment equal to all unpaid principal, interest, and capitalized interest shall be due and payable on March 31, 2007.
