Term Loan 2. The Borrowers shall repay to the Lenders the aggregate principal amount of all Term Loans 2 outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts may be reduced as a result of the application of prepayments of the Loans in accordance with the order of priority set forth in Section 2.05): Date Amount June 30, 2012 $ 3,907,000.00 September 30, 2012 $ 3,907,000.00 December 31, 2012 $ 3,907,000.00 March 31, 2013 $ 5,380,000.00 June 30, 2013 $ 5,380,000.00 September 30, 2013 $ 5,380,000.00 December 31, 2013 $ 5,380,000.00 March 31, 2014 $ 5,380,000.00 June 30, 2014 $ 71,470,500.00 provided, however, that the aggregate principal amount of all Term Loans 2 outstanding on the Maturity Date with respect to the Term 2 Facility shall be due on such date; provided further that if any such date is not a Business Day, the amount due on such date shall be due on the next preceding Business Day.
Term Loan 2. Upon the request of Borrower, which shall be received on or before May 10, 2009, Bank agrees, on the terms and conditions hereinafter set forth, to loan to the Borrower the principal amount of up to Ten Million and 00/100 Dollars ($10,000,000) ("Term Loan 2").
Term Loan 2. Bank agrees, on the terms and conditions hereinafter set forth, to extend credit to Borrowers on the Closing Date in a single advance in the amount of the Term Loan 2 Commitment ("Term Loan 2").
Term Loan 2. (a) Subject to the terms and conditions of this Agreement, Bank agrees to make a Term Loan 2 Advance to Borrower during the Term Loan 2 Advance Period up to the amount of the Committed Term Loan 2 Line for the purpose of paying off THINQ Learning Solutions, Inc.’s (“THINQ”) total outstanding debt with Bank and GATX and to pay other amounts related to the acquisition (“Term Loan 2”), provided that Borrower has acquired THINQ pursuant to the “Agreement and Plan of Merger Among Saba Software, Inc., Storm Holding Corporation, Storm Acquisition Corporation, THINQ Learning Solutions, Inc. and Xxxxxx X. Xxxxxx Xx., as Representative,” dated March 24, 2005.
Term Loan 2. (a) Subject to the terms and conditions hereof, Bank shall make to Borrower a term loan (the "Term Loan #2") on July 2, 2018 in an aggregate amount of Five Million Five Hundred Thousand and No/100 Dollars ($5,500,000.00). The unpaid principal balance, together with all accrued but unpaid interest and reimbursable expenses, shall be payable in accordance with the terms of the Term Loan #2 as evidenced by a Term Loan Note (the "Term Note #2") to be issued by Borrower to Bank dated July 2, 2018 with a final maturity date of July 2, 2023, and otherwise in substantially the form of Exhibit 2.3.
Term Loan 2. Pursuant to the terms and conditions of the Third Amendment, Bank shall make a new term loan (“Term Loan 2”) to Borrower in one disbursement on the closing date of the Third Amendment in the aggregate principal amount of Fifteen Million Dollars ($15,000,000). Proceeds of Term Loan 2 are to be used to finance a portion of the acquisition of CDK Global, LLC’s automotive leads generation and sales business (“Acquisition”). Borrower’s obligation to repay the principal amount of Term Loan 2, together with accrued interest thereon, shall be evidenced by a promissory note (“Term Note 2”), issued by Borrower in favor of Bank on the standard form used by Bank to evidence its commercial loans. Term Note 2 shall provide for quarterly payments of principal and interest as set forth therein and shall be fully repaid by no later than June 30, 2020.”
Term Loan 2. Article II of the Credit Agreement is hereby amended to add the following as a new Section 2.3:
Term Loan 2. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make a loan to Borrower in the principal amount of Forty Million Dollars ($40,000,000.00) (“Term Loan 2”), the proceeds of which shall be used to fund insurance reserves of Borrower and its wholly-owned subsidiaries. Borrower’s obligation to repay Term Loan 2 shall be evidenced by a promissory note dated as of December 29, 2014 (“Term Note 2”), all terms of which are incorporated herein by this reference. Bank’s commitment to grant the Term Loan 2 shall terminate on January 31, 2015.
Term Loan 2. Subject to Section 2.4(b), the principal amount outstanding under the Term Loan 2 shall accrue interest at a floating per annum rate equal to the greater of (i) one percentage point (1.0%) above the Prime Rate, or (ii) eight and three-quarters of one percent (8.75%), which interest shall be payable monthly.
