Term Loan and Term Note. Subject to the terms and conditions of this Agreement, the Lenders agree to lend to the Borrowers the Term Loans as provided in this Section.
2. B.
Term Loan and Term Note. On each Conversion Date, amounts of B Revolving Loans then outstanding shall be converted into a Term Loan (the "Term Loan or "Term Loans"), to be repayable in accordance with the following provisions; the Term Loan shall be evidenced by, bear interest, be repayable and mature in accordance with the provisions hereof and of Term Notes of the Borrowers in the form of Exhibit C hereto, with appropriate insertions (together with any and all amendments, modifications, supplements, substitutions, renewals, extensions and restatements, thereof and therefor, whether individually or collectively, the "Term Note" or the "Term Notes"). The Borrowers shall deliver to the Lenders executed and completed Term Notes payable to the order of each Lender in the principal amount of its B Revolving Loans outstanding on the applicable Conversion Date. The Term Notes shall be dated on the applicable Conversion Date, shall mature on the Termination Date, and shall require quarterly principal payments in substantially equal amounts based on a four (4) year or three (3) year (as appropriate) amortization of the principal amount thereof. The Term Loans and Term Notes shall bear interest as provided herein and therein. On the Initial Conversion Date, the amount of the B Revolving Commitments shall thereupon be permanently reduced by the amount of the Terms Loans made on said Initial Conversion Date, and on the Final Conversion Date the amount of the B Revolving Commitments shall thereupon be permanently reduced to $0.
Term Loan and Term Note. A. Term Loan Commitment. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Company herein set forth, the Lenders hereby agree, on the Conversion Date, upon the request of Company, to convert the then outstanding principal amount of the Bridge Notes into a term loan (the "Term Loan"), such Term Loan to be in the aggregate principal amount of the then outstanding principal amount of the Bridge Notes. The Lenders' commitments under this subsection 2.2A are herein called individually, the "Term Loan Commitment" and collectively, the "Term Loan Commitments."
Term Loan and Term Note. The Bank agrees, on the terms and subject to the conditions hereinafter set forth, to make Advances to the Borrower on a non-revolving basis from time to time during the period from the date hereof to May 31, 2009 or the earlier date of termination in whole of the Commitment pursuant Section 7.02, in an aggregate amount not to exceed One Million Two Hundred Thousand and 00/100 ($1,200,000.00) Dollars, whichever is less. Each Advance shall be in the amount of $10,000.00 or an integral multiple thereof. This is non-revolving loan, and the Borrower is not permitted to re-borrow any principal which Borrower may have repaid.. The Advances made by the Bank shall be evidenced by and repayable with interest in accordance with a single promissory note of the Borrower (the “ Note”) payable to the order of the Bank, substantially in a form acceptable to the Bank, dated the date of this Agreement. The Note shall bear interest on the unpaid principal amount thereof from the date thereof until paid at the rate therein provided.
Term Loan and Term Note. The Borrower hereby borrows from the Bank, and the Bank hereby loans to the Borrower, the principal sum of $5,000,000 (the "Term Loan"). The Term Loan shall be evidenced by a term note made payable to the order of the Bank, dated the date hereof, signed by the Borrower and delivered to the Bank (such term note, together with all modifications thereto, extension thereof and substitutions therefor, is herein referred to as the "Term Note").
Term Loan and Term Note. (a) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lenders hereby agree, on the Conversion Date, upon the request of the Company, to convert the then outstanding principal amount of the Bridge Loan into a term loan (the “Term Loan”), such Term Loan to be in the aggregate principal amount of the then outstanding principal amount of the Bridge Loan. The Lenders’ commitments under this Section 2.2(a) are herein called collectively, the “Term Loan Commitment.”
(b) If the Company has not repaid the Bridge Loan in full on or prior to the Conversion Date, then the Company shall convert the then outstanding principal amount of the Bridge Loan into a Term Loan under this Section 2.2. The Company shall deliver to the Lenders a Notice of Conversion no later than 11:00 A.M. (New York time), at least two Business Days in advance of the Conversion Date. The Notice of Conversion shall specify the principal amount of the Bridge Loan outstanding on the Conversion Date to be converted into a Term Loan.
(c) Each Lender shall extend to the Company the Term Loan to be issued on the Conversion Date by such Lender by canceling on its records a corresponding principal amount of the Bridge Loan held by such Lender.
(d) The Term Loan shall mature and the Company shall pay in full the outstanding principal amount thereof and accrued interest thereon on the date that is the eighth anniversary of the Closing Date (the “Maturity Date”).
(e) The Company, as Company, shall execute and deliver to each Lender, on the Conversion Date, a Term Note dated the Conversion Date substantially in the form of Exhibit II annexed hereto to evidence the Term Loan made on such date, in the principal amount of the Bridge Loan held by such Lender on such date and with other appropriate insertions (collectively the “Term Notes”).
Term Loan and Term Note. 2.1 Balance As of June 1, 2006, the unpaid principal balance of the Term Loan and Term Note is $4,950,000 with interest paid through June 1, 2006.
2.2 Maturity Date The maturity date of the Term Loan and Term Note is extended from June 5, 2007 to June 5, 2012.
2.3 Repayment Borrower shall continue to pay to U.S. Bank in arrears an amount equal to all accrued interest on the first day of each month and to make monthly payments of principal in installments of $37,500 on the first day of each month until June 5, 2012, the maturity date, at which time the entire principal and any accrued and unpaid interest on the Term Loan and Term Note shall be paid in full.
2.4 Term Loan Fee Concurrently with the execution and delivery of this Amendment, Borrower shall pay a non-refundable fee in the amount of $6,188.
Term Loan and Term Note. A. TERM LOAN COMMITMENT. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lenders hereby agree, on the Conversion Date, upon the request of the Company, to convert the then outstanding principal amount of the Bridge Notes into a term loan (the "Term Loan"), such Term Loan to be in the aggregate principal amount of the then outstanding principal amount of the Bridge Notes. The Lenders' commitments under this Section 2.2A are herein called collectively, the "Term Loan Commitment."
Term Loan and Term Note. Subject to the terms and conditions set forth in this Agreement, Lender hereby agrees to lend to Borrower, and Borrower hereby agrees to borrow, in one or more draws to be made from time to time, an aggregate principal amount not to exceed Three Million Four Hundred Dollars ($3,400,000.00). The borrowing and loan made under this Section 1.1 is hereinafter referred to as the "TERM LOAN" or the "LOAN" which shall be evidenced by the term loan promissory note of Borrower in the form of EXHIBIT A hereto (together with any and all amendments, modifications, supplements, substitutions, renewals, extensions and restatements thereof and therefor the "TERM NOTE") and shall be repayable, mature and bear interest as provided therein.
Term Loan and Term Note. A. Term Loan Commitment. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Parent Guarantor and the Borrower herein set forth, the Lenders hereby agree, on the Conversion Date, upon the request of the Borrower, to convert the then outstanding principal amount of the Bridge Notes into a term loan (the "Term Loan"), such Term Loan to be in the aggregate principal amount of the then outstanding principal amount of the Bridge Notes. The Lenders' commitments under this Section 2.2A are herein called individually, the "Term Loan Commitment" and collectively, the "Term Loan Commitments."
