Term Loan A Facility. A first lien “second-out” term loan facility in an aggregate principal amount equal to up to $65 million (the “Term Loan A Facility,” the loans thereunder, the “Tranche A Term Loans” and the Lenders thereunder, the “Term Loan A Lenders”). Pursuant to the Plan, the DIP Electing Lenders, as part of the treatment of their obligations under the Plan, shall become Term Loan A Lenders on the Plan Effective Date in respect of Tranche A Term Loans deemed made by such Term Loan A Lenders on the Plan Effective Date as “roll-up” paper (or similar) in an amount equal to the lesser of (i) such Term Loan A Lender’s Revolving Commitment Amount and (ii) such Term Loan A Lender’s Commitment in respect of New Money Loans (as such terms are defined in the DIP Credit Agreement). The Term Loan A Facility shall be secured in a manner pari passu with the Revolving Facility on a “second-out” basis. (c) Term Loan B Facility. A first lien “last-out” term loan facility in an aggregate principal amount equal to $350 million minus the amount of the Term Loan A Facility (the “Term Loan B Facility,” the loans thereunder, the “Tranche B Term Loans” and the Lenders thereunder, the “Term Loan B Lenders”). Pursuant to the Plan, the Prepetition Lenders, as part of the treatment of their obligations under the Plan, shall become Term Loan B Lenders on the Plan Effective Date in respect of Tranche B Term Loans deemed made by such Term Loan B Lenders on the Plan Effective Date as “take-back” paper (or similar) in an amount equal to such Term Loan B Lender’s pro rata share of the amount of the Term Loan B Facility. The Term Loan B Facility shall be secured in a manner pari passu with the Revolving Facility on a “last-out” basis. Without limiting the payment priority set forth in the mandatory and optional prepayment provisions below, all proceeds of Collateral (as defined below) after the occurrence and during the continuance of an Event of Default shall be allocated first, to pay all amounts outstanding under the Revolving Facility (including, without limitation, interest, principal, fees and cash-collateralization of Letters of Credit (as defined below)), second, to pay amounts outstanding under the Term Loan A Facility and third to pay amounts outstanding under the Term Loan B Facility.The Revolving Facility will include a sub-facility for standby letters of credit (each, a “Letter of Credit”) in the aggregate principal amount not to exceed the lesser of (x) the Maximum Revolving Commitments, ...
Term Loan A Facility. The final maturity of the Term Loan A Facility will occur on the three year anniversary of the Closing Date (the “Term Loan A Maturity Date”). (c)
Term Loan A Facility. The Term Loan A under the Term Loan A Facility will be made, in Bank's good faith discretion, to Borrower with respect to its eligible machinery and equipment in an amount of up to the lesser of (i) Two Million Six Hundred Eighty Thousand Dollars ($2,680,000) and (ii) an amount equal to seventy-five percent (75%) of the orderly liquidation value of Borrower's owned machinery and equipment on the Effective Date. The principal of Term Loan A shall be payable in forty-seven (47) consecutive equal monthly installments of Fifty-Five Thousand Eight Hundred Thirty-Three Dollars ($55,833) each, commencing on June 1, 1998, and thereafter on the first day of each calendar month, with the last payment of principal being in the amount of Fifty-Five Thousand Eight Hundred Forty-Nine ($55,849); PROVIDED, HOWEVER, that notwithstanding the foregoing amortization schedule for Term Loan A, upon the effective date of any termination of this Agreement pursuant to SECTION 11 and/or SECTION 13 hereof, all amounts then outstanding under Term Loan A shall become immediately due and payable without notice or demand. No repayment or prepayment of Term Loan A shall be reason for any relending or additional lending of Term Loan A proceeds to Borrower. At Bank's option, the principal of Term Loan A shall be payable in accordance with the payment terms set forth above in this SECTION 2.3 by charging or increasing the Revolving Loan balance of Borrower.
Term Loan A Facility. Each Lender, severally and not jointly, previously has lent to Borrower such Lender’s Pro Rata Share of the Term Loan A Commitment. Amounts borrowed under this Subsection 1.1(A) that are repaid or prepaid may not be reborrowed.
Term Loan A Facility. Subject to the terms of this Agreement, the Lenders make available to the Borrowers a term loan facility in an aggregate amount equal to the Total Term Loan A Facility Commitments.
Term Loan A Facility. Each Term Loan A Lender, severally and not jointly, agrees to lend to Borrower, in a single advance on the Closing Date, its Pro Rata Share of the Term Loan A; provided all conditions precedent set forth in Subsections 7.1 and 7.2 are satisfied or waived as provided herein. Amounts of the Term Loan A that are repaid or prepaid may not be reborrowed.
Term Loan A Facility. Each Term Loan A Lender severally, but not jointly, agrees to lend to the Borrowers in a single Borrowing on the Closing Date such Term Loan A Lender's Commitment Percentage of the Term Loan A Commitment. If all or any portion of the Term Loan A Principal Debt is paid or prepaid, then the amount so repaid may not be reborrowed.
Term Loan A Facility. Each Term Loan A Lender, severally and for itself alone, hereby agrees, on the terms and subject to the terms and conditions set forth herein and in reliance upon the representations and warranties set forth herein and in the other Loan Documents to make a loan (each such loan, a “Term Loan A” and collectively, the “Term Loans A”) to Xxxxx-Xxxxxxxx on the Closing Date in an aggregate principal amount equal to the Term Loan A Commitment of such Lender. The Term Loans A (i) shall be incurred by Xxxxx-Xxxxxxxx pursuant to a single drawing, (ii) shall be denominated in Dollars and (iii) shall not exceed for any Lender at the time of incurrence thereof on the Closing Date that aggregate principal amount which equals the Term Loan A Commitment, if any, of such Lender at such time. Each Lender’s Term Loan A Commitment shall expire immediately and without further action on the Closing Date, after giving effect to the Term Loans A made thereon. No amount of any Term Loan A which is repaid or prepaid by Xxxxx-Xxxxxxxx may be reborrowed hereunder. after giving effect to the Term Loans A made thereon. No amount of any Term Loan A which is repaid or prepaid by Xxxxx-Xxxxxxxx may be reborrowed hereunder.
Term Loan A Facility. Subject to and in reliance upon the terms, conditions, representations, and warranties in the Loan Documents, each Term Loan A Lender severally, but not jointly, agrees to lend to Borrower in a single Borrowing on the Closing Date such Lender's Commitment Percentage of the Term Loan A Commitment. If all or a portion of the Term Loan A Principal Debt is paid or prepaid, then the amount so paid or prepaid may not be reborrowed.
Term Loan A Facility. Subject to and in reliance upon the terms, conditions, representations, and warranties in the Loan Documents, each Term Loan A Lender severally, but not jointly, agrees to lend to Borrower in a single Borrowing on the Closing Date such Lender's Commitment Percentage Credit Agreement 32 of the Term Loan A Commitment. If all or a portion of the Term Loan A Principal Debt is paid or prepaid, then the amount so paid or prepaid may not be reborrowed.
