Common use of Term Loan Amounts Clause in Contracts

Term Loan Amounts. On the terms and subject to the conditions set forth herein and in the other Financing Documents, the Lenders severally hereby agree to make to Borrowers a term loan in an original aggregate principal amount equal to the Term Loan Commitment (“Term Loan”). Each Lender’s obligation to fund the Term Loan shall be limited to such Lender’s Term Loan Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded. No Borrower shall have any right to reborrow any portion of the Term Loan that is repaid or prepaid from time to time. The Term Loan shall be funded on the Closing Date. Borrowers shall deliver to Agent a Notice of Borrowing with respect to the proposed Term Loan advance, such Notice of Borrowing to be delivered no later than noon (Eastern time) on the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Aptevo Therapeutics Inc.)

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Term Loan Amounts. On the terms and subject to the conditions set forth herein and in the other Financing Documentsherein, the Lenders each Lender severally hereby agree agrees to make to Borrowers a term loan in an original aggregate principal amount equal to the such Lender’s Term Loan Commitment Percentage (collectively, the “Term Loan”). Each Lender’s obligation to fund the Term Loan shall be limited to such Lender’s Term Loan Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded. No Borrower shall have any right to reborrow any portion of the Term Loan that is repaid or prepaid from time to time. The Term Loan shall be funded in one advance on the Closing Date. Borrowers shall deliver to Administrative Agent a Notice of Borrowing with respect to the proposed Term Loan advance, such Notice of Borrowing to be delivered no later than noon (Eastern Chicago time) on two (2) Business Days prior to the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Derma Sciences, Inc.)

Term Loan Amounts. On the terms and subject to the conditions set forth herein and in the other Financing Documents, the Lenders each Lender with a Term Loan Tranche 1 Commitment Amount severally hereby agree agrees to make to Borrowers a term loan Term Loan on the Closing Date in an original aggregate principal amount equal to the Term Loan Commitment Tranche 1 Commitments (the “Term LoanLoan Tranche 1”). Each such Lender’s obligation to fund the Term Loan Tranche 1 shall be limited to such Lender’s Term Loan Tranche 1 Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded. No Borrower shall have any right to reborrow any portion of the Term Loan that is repaid or prepaid from time to time. The Term Loan shall be funded on the Closing Date. Borrowers shall deliver to Agent a Notice of Borrowing with respect to the each proposed Term Loan advance, such Notice of Borrowing to be delivered delivered, in the case of a Term Loan Tranche 1 borrowing, no later than noon 12:00 P.M. (Eastern time) on the Closing Date.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Xtant Medical Holdings, Inc.)

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Term Loan Amounts. On the terms and subject to the conditions set forth herein and in the other Financing Documentsherein, the Lenders severally hereby agree to make to Borrowers a term loan in an original aggregate principal amount equal to the Term Loan Commitment (“Term Loan”). Each Lender’s obligation to fund the Term Loan shall be limited to such Lender’s Term Loan Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded. No Borrower shall have any right to reborrow any portion of the Term Loan that is repaid or prepaid from time to time. The Term Loan shall be funded in one advance on the Closing Date. Borrowers shall deliver to Agent a Notice of Borrowing with respect to the proposed Term Loan advance, such Notice of Borrowing to be delivered no later than noon (Eastern time) on the Closing Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Staffing 360 Solutions, Inc.)

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