Term Loan B Advances Sample Clauses

Term Loan B Advances. The Lender has previously made advances to Diamond in the amount of $2,250,000 (the “Term Loan B Advances”). As of December 28, 2005, the outstanding principal balance of the Term Loan B Advances was $904,738.00. The Borrowers’ obligation to pay the Term Loan B Advances shall be evidenced by the Term Loan B Note and shall be secured by the Collateral as provided in Article III and the Mortgaged Property as defined in each of the Factory Mortgage and the Farm Mortgage.
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Term Loan B Advances. (i) Each Term Loan B Lender severally agrees, on the terms and conditions hereinafter set forth, to make a Term Loan B Advance denominated in U.S. Dollars to the Company on the Closing Date and, if the Company so elects, the Merger Date in a principal amount not to exceed its Term Loan B Commitment. The Company may, at its option, (x) make a single borrowing of the full amount of the Term Loan B Advances on the Merger Date or (y) make a single borrowing of the full amount of the Term Loan B Advances on the Closing Date; provided that, to the extent the Company elects to make a single borrowing of the full amount of the Term Loan B Advances on the Closing Date, such Term Loan B Advances shall be funded into escrow on terms satisfactory to the Administrative Agent in its sole discretion and released to the Company on the Merger Date upon satisfaction of the conditions set forth in Section 3.02, which Advances shall, for the avoidance of doubt, bear interest from the date of such funding into escrow. The Term Loan B Advances may from time to time consist of Eurocurrency Rate Advances or Base Rate Advances, as determined by the Company and notified to the Administrative Agent in accordance with Section 2.02.
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Term Loan B Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Loan B Advances to Borrowers. Borrowers, or any of them, may request Term Loan B Advances from the Fifth Amendment Date through the Term Loan B Draw Period Expiration Date. The aggregate outstanding amount of Term Loan B Advances shall not exceed the Term Loan B. The proceeds of the Term Loan B shall be used by Borrowers to (a) refinance the outstanding Term Loan Advances and the outstanding amounts under Term Loan A and (b) subject to Section 7.3 of this Agreement (Mergers or Acquisitions), finance Borrowers’ acquisitions after the Fifth Amendment Date not exceeding an aggregate amount of $12,125,000.
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Term Loan B Advances. Except as set forth in Section 2.3(b), the Term Loan B Advances shall bear interest, on the outstanding daily balance thereof as set forth in the Interest Rate Addendum.”
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Term Loan B Advances. (a) Availability. Bank shall make one (1) term loan (the “Term Loan B”) available to Borrower in an amount up to the Term Loan B Amount on the Amendment 4 Effective Date subject to the satisfaction of the terms and conditions of this Agreement.
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Term Loan B Advances. The obligation of the Secured Party to make Term Loan B advances after the Closing Date is subject to satisfaction of the following conditions:
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Term Loan B Advances. (ii) Each Term Loan B Lender severally agrees, on the terms and conditions hereinafter set forth, to make a Term Loan B Advance to the Company on the Merger Date in a principal amount not to exceed its Term Loan B Commitment. The Company may make only one borrowing of the full amount of the Term Loan B Advances, which shall be made on the Merger Date. The Term Loan B Advances may from time to time consist of Eurocurrency Rate Advances or Base Rate Advances, as determined by the Company and notified to the Agent in accordance with Section 2.02.
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Term Loan B Advances. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Loan B Lenders the aggregate outstanding principal amount of the Term Loan B Advances as follows (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.06): DATE AMOUNT ---- ------ January 1, 2004 $42,855 April 1, 2004 $57,140 April 30, 2004 $55,254,520 provided, however, that notwithstanding the foregoing, the final principal installment shall occur no later than the Termination Date and shall be in an amount equal to the aggregate principal amount of the Term Loan B Advances outstanding on such date.
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Term Loan B Advances. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Loan B Lenders the aggregate outstanding principal amount of the Term Loan B Advances as follows: the first payment date shall be April 3, 2000, the second payment date shall be July 1, 2000, and the third payment date and each payment date subsequent thereto shall be the first day of each third month thereafter. Each payment shall be made in equal quarterly installments (except that the payments on April 3, 2000 and July 1, 2000 shall be one-half of the aggregate amount for Year 1) based upon the annual amounts set forth below (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.06): YEAR AMOUNT ---- ------ Year 1 $ 750,000 Year 2 $ 750,000 Year 3 $ 750,000 Year 4 $ 750,000 YEAR AMOUNT ---- ------ Year 5 $ 750,000 Year 6 $31,250,000 Year 7 $40,000,000 provided, however, that notwithstanding the foregoing, the final principal installment shall occur no later than the Term Loan B Termination Date and shall be in an amount equal to the aggregate principal amount of the Term Loan B Advances outstanding on such date.
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Related to Term Loan B Advances

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

  • Term Loan B Subject to the terms and conditions of this Agreement, each Term Loan B Lender, severally and not jointly, will make a term loan to Borrowers in the amount equal to such Term Loan B Lender’s Term Loan B Commitment Percentage of $21,500,000 (the “Term Loan B”). The Term Loan B shall be advanced on the Closing Date and shall be, with respect to principal, payable as follows, subject to acceleration upon the occurrence of an Event of Default under this Agreement or termination of this Agreement: on or before the date that is forty-five (45) days after the last day of each fiscal quarter (each a “True-Up Date”), commencing with the fiscal quarter ending March 31, 2017 and continuing thereafter through and including the last such date occurring immediately prior to the end of the Term, Borrowers shall repay the Term Loan B in an amount equal to the greater of (x) $537,500 and (y) the Term Loan B Lenders Pro Rata Share of the lesser of (I) 50% of Excess Cash Flow for the most recently ended prior fiscal quarter for which financial statements were delivered to Agents and (II) 50% of the Maximum True Up Amount (provided that Borrowers shall pay the amount set forth in the foregoing clause (x) no later than the first Business Day following the last day of each fiscal quarter, commencing with the fiscal quarter ending March 31, 2017 and continuing thereafter through and including the last such date occurring immediately prior to the end of the Term (it being understood and agreed that if the amount calculated pursuant to the foregoing clause (y) for each such period exceeds the amount set forth in the foregoing clause (x), the difference thereof (if any) shall be paid by Borrowers no later than the applicable True-Up Date)), followed by a final payment of all unpaid principal, accrued and unpaid interest and all unpaid fees and expenses upon expiration of the Term. The Term Loan B shall be evidenced by one or more Term Notes. Term Loan B shall consist of LIBOR Rate Index Loans only.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Term Loan A Subject to the terms and conditions set forth herein, the Lenders will make advances of their respective Term Loan A Commitment Percentages of a term loan (the “Term Loan A”) in an amount not to exceed the Term Loan A Commitment, which Term Loan A will be disbursed to the Borrower in Dollars in a single advance on the Closing Date. The Term Loan A may consist of Base Rate Loans, Adjusted LIBOR Rate Loans, or a combination thereof, as the Borrower may request. Amounts repaid on the Term Loan A may not be reborrowed.

  • Term Loan Advance Subject to Section 2.4(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating per annum rate equal to the greater of (A) six and one half of one percent (6.50%) and (B) one and one-half of one percent (1.50%) above the Prime Rate, which interest, in each case, shall be payable monthly in accordance with Section 2.4(e) below.

  • Term Advances The Borrower shall pay to the Administrative Agent for the ratable benefit of each Term Lender the aggregate outstanding principal amount of the Term Advances in quarterly installments each equal to $412,500 (which is equal to five percent (5%) of $8,250,000). Such quarterly installments shall be due and payable on each March 31st, June 30th, September 30th, and December 31st, commencing with December 31, 2012, and a final installment of the remaining, unpaid principal balance of the Term Advances payable on the Term Maturity Date.

  • Term Loans Subject to the terms and conditions of this Agreement, on the Closing Date, each Lender then party to this Agreement severally (and not jointly) made a term loan to Borrowers (collectively, the “Existing Term Loans”) in an amount equal to $20,000,000. Subject to the terms and conditions of this Agreement and the First Amendment, on the First Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “First Amendment Term Loans”) in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the First Amendment on the First Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $40,000,000. Subject to the terms and conditions of this Agreement and the Second Amendment, on the Second Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “Second Amendment Term Loans,” and together with the Existing Term Loan and the First Amendment Term Loans, collectively, the “Term Loans”), in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the Second Amendment on the Second Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $60,000,000. All Term Loans shall be made in and repayable in Dollars. Amounts repaid in respect of Term Loans may not be reborrowed, and upon each Lender’s making of the Second Amendment Term Loans on the Second Amendment Effective Date, any then outstanding Term Loan Commitment of such Lender shall be terminated (it being understood and agreed that the initial Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the Closing Date, were reduced to $0 upon the funding of the Existing Term Loans on the Closing Date and the Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the First Amendment Effective Date, were reduced to $0 upon the funding of the First Amendment Term Loans on the First Amendment Effective Date).

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

  • Revolving Loan Facility On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to the Borrower from time to time during the period beginning on the Effective Date up to, but not including the Termination Date, such loans in Dollars as the Borrower may request under this Section 2.01(b) (individually, a “Revolving Loan”); provided, however, that (i) the sum of (A) the Effective Amount of all Revolving Loans made by such Lender at any time outstanding and (B) such Lender’s Revolving Proportionate Share of the Effective Amount of all L/C Obligations and all Swing Line Loans at any time outstanding shall not exceed such Lender’s Revolving Loan Commitment at such time and (ii) the sum of (A) the Effective Amount of all Revolving Loans made by all of the Revolving Lenders at any time outstanding and (B) the Effective Amount of all L/C Obligations and Swing Line Loans at any time outstanding shall not exceed the Revolving Loan Facility at such time. All Revolving Loans shall be made on a pro rata basis by the Revolving Lenders in accordance with their respective Revolving Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Revolving Lender equal to such Lender’s Revolving Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein, the Borrower may borrow, repay and reborrow Revolving Loans until the Termination Date in respect of the Revolving Loan Facility.

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

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