Common use of Term Loan B Clause in Contracts

Term Loan B. (i) Subject to the terms and conditions hereof, each Term Lender agrees to make a term loan (collectively, the “Term Loan B”) on the Closing Date to Borrower in the original principal amount of its Term Loan B Commitment. The obligations of each Term Lender hereunder shall be several and not joint. The Term Loan B shall be evidenced by promissory notes substantially in the form of Exhibit 1.1(b) (each a “Term B Note” and collectively the “Term B Notes”), and, except as provided in Section 1.12, Borrower shall execute and deliver each Term B Note to the applicable Term Lender. Each Term B Note shall represent the obligation of Borrower to pay the amount of the applicable Term Lender's Term Loan B Commitment, together with interest thereon as prescribed in Section 1.5. (ii) Borrower shall repay the principal amount of the Term Loan B in twenty (20) consecutive quarterly installments on the last day of March, June, September and December of each year, commencing March 31, 2008, as follows: Payment Installment March 31, 2008 $125,000.00 June 30, 2008 $125,000.00 September 30, 2008 $125,000.00 December 31, 2008 $125,000.00 March 31, 2009 $125,000.00 June 30, 2009 $125,000.00 September 30, 2009 $125,000.00 December 31, 2009 $125,000.00 March 31, 2010 $125,000.00 June 30, 2010 $125,000.00 September 30, 2010 $125,000.00 December 31, 2010 $125,000.00 March 31, 2011 $125,000.00 June 30, 2011 $125,000.00 September 30, 2011 $125,000.00 December 31, 2011 $125,000.00 March 31, 2012 $125,000.00 June 30, 2012 $125,000.00 September 30, 2012 $125,000.00 December 31, 2012 $125,000.00 The final installment due on February 21, 2013 shall be in the amount equal to $47,500,000 or, if different the remaining principal balance of the Term Loan B. (iii) Notwithstanding Section 1.1(b)(ii), the aggregate outstanding principal balance of the Term Loan B shall be due and payable in full in immediately available funds on the Commitment Termination Date, if not sooner paid in full. No payment with respect to the Term Loan B may be reborrowed. (iv) Each payment of principal with respect to the Term Loan B shall be paid to Agent for the ratable benefit of each Term Lender, ratably in proportion to each such Term Lender's respective Term Loan B Commitment.

Appears in 1 contract

Sources: Credit Agreement (Reading International Inc)

Term Loan B. (i) Subject to the terms and conditions hereof, each Term B Lender agrees to make a term loan (collectively, the “Term Loan B”) on the Closing Date to Borrower in the original principal amount of its such Term B Lender’s Term Loan B Commitment. The obligations of each Term B Lender hereunder shall be several and not joint. The Each such Term Loan B shall be evidenced by a promissory notes note substantially in the form of Exhibit 1.1(b1.1(c) (each a “Term B Note” and collectively the “Term B Notes”), and, except as provided in Section 1.12, Borrower shall execute and deliver each a Term B Note to the each applicable Term B Lender. Each Term B Note shall represent the obligation of Borrower to pay the amount of the applicable loaned by each Term B Lender pursuant to such Term B Lender's ’s Term Loan B Commitment, together with interest thereon as prescribed in Section 1.5. Amounts repaid on Term Loan B may not be reborrowed. (ii) Borrower shall repay the principal amount of the Term Loan B in twenty four (2024) consecutive quarterly installments on the last first day of March, June, September and December of each year, commencing March 31, 2008, as followsFiscal Quarter set forth below: Payment Installment March 31Dates Amounts July 1, 2005 $ 1,250,000 October 1, 2005 $ 1,250,000 January 1, 2006 $ 1,250,000 April 1, 2006 $ 1,250,000 July 1, 2006 $ 1,250,000 October 1, 2006 $ 1,250,000 January 1, 2007 $ 1,250,000 April 1, 2007 $ 1,250,000 July 1, 2007 $ 1,250,000 October 1, 2007 $ 1,250,000 January 1, 2008 $125,000.00 June 30$ 1,250,000 April 1, 2008 $125,000.00 September 30$ 1,250,000 July 1, 2008 $125,000.00 December 31$ 1,250,000 October 1, 2008 $125,000.00 March 31$ 1,250,000 January 1, 2009 $125,000.00 June 30$ 1,250,000 April 1, 2009 $125,000.00 September 30$ 1,250,000 July 1, 2009 $125,000.00 December 31$ 1,250,000 October 1, 2009 $125,000.00 March 31$ 1,250,000 January 1, 2010 $125,000.00 June 30$ 1,250,000 April 1, 2010 $125,000.00 September 30$ 1,250,000 July 1, 2010 $125,000.00 December 31$ 1,250,000 October 1, 2010 $125,000.00 March 31$ 1,250,000 January 1, 2011 $125,000.00 June 30$ 1,250,000 April 1, 2011 $125,000.00 September 30, 2011 $125,000.00 December 31, 2011 $125,000.00 March 31, 2012 $125,000.00 June 30, 2012 $125,000.00 September 30, 2012 $125,000.00 December 31, 2012 $125,000.00 $ 1,250,000 The final installment due on February 21, 2013 shall be in the amount equal to $47,500,000 or, if different the then remaining unpaid principal balance of the Term Loan B.B shall be due on May11, 2011. (iii) Notwithstanding Section 1.1(b)(ii1.1(c)(ii), the aggregate outstanding principal balance of the Term Loan B shall be due and payable in full in immediately available funds on the Commitment Termination Date, if not sooner paid in full. No payment with respect to the Term Loan B may be reborrowed. (iv) Each payment of principal with respect to the Term Loan B shall be paid to Agent for the ratable benefit of each Term LenderB Lender making a Term Loan B, ratably in proportion to each such Term B Lender's ’s respective Term Loan B Commitment.

Appears in 1 contract

Sources: Credit Agreement (Navarre Corp /Mn/)

Term Loan B. (i) Subject to the terms and conditions hereof, each Each Term B Lender agrees to make previously made a term loan (collectively, the “Term Loan B”) on the Prior Closing Date to Borrower in the original principal amount of its such Term B Lender’s Term Loan B CommitmentCommitment at such time. The obligations On the Closing Date, all the proceeds of each the Term Lender hereunder Loan C shall be several and not joint. The used to repay a portion of the Term Loan B shall then outstanding (to be applied against amounts otherwise required to be repaid on May 11, 2011). Each Term Loan B then remaining outstanding is evidenced by a promissory notes note substantially in the form of Exhibit 1.1(b1.1(c)(i) (each a “Term B Note” and collectively the “Term B Notes”), and, except as provided in Section 1.12, Borrower shall execute and deliver each a Term B Note to the each applicable Term B Lender. Each Term B Note shall represent the obligation of Borrower to pay the amount of the applicable loaned by each Term B Lender pursuant to such Term B Lender's ’s Term Loan B Commitment, together with interest thereon as prescribed in Section 1.5. Amounts repaid on Term Loan B may not be reborrowed. (ii) Borrower shall repay the principal amount of the Term Loan B in twenty four (2024) consecutive quarterly installments on the last first day of March, June, September and December of each year, commencing March 31, 2008, as followsFiscal Quarter set forth below: Payment Installment March 31Dates Amounts July 1, 2005 $ 1,250,000 October 1, 2005 $ 1,250,000 January 1, 2006 $ 1,250,000 April 1, 2006 $ 1,250,000 July 1, 2006 $ 1,250,000 October 1, 2006 $ 1,250,000 January 1, 2007 $ 1,250,000 April 1, 2007 $ 1,250,000 July 1, 2007 $ 1,250,000 October 1, 2007 $ 1,250,000 January 1, 2008 $125,000.00 June 30$ 1,250,000 April 1, 2008 $125,000.00 September 30$ 1,250,000 July 1, 2008 $125,000.00 December 31$ 1,250,000 October 1, 2008 $125,000.00 March 31$ 1,250,000 January 1, 2009 $125,000.00 June 30$ 1,250,000 April 1, 2009 $125,000.00 September 30$ 1,250,000 July 1, 2009 $125,000.00 December 31$ 1,250,000 October 1, 2009 $125,000.00 March 31$ 1,250,000 January 1, 2010 $125,000.00 June 30$ 1,250,000 April 1, 2010 $125,000.00 September 30$ 1,250,000 July 1, 2010 $125,000.00 December 31$ 1,250,000 October 1, 2010 $125,000.00 March 31$ 1,250,000 January 1, 2011 $125,000.00 June 30$ 1,250,000 April 1, 2011 $125,000.00 September 30, 2011 $125,000.00 December 31, 2011 $125,000.00 March 31, 2012 $125,000.00 June 30, 2012 $125,000.00 September 30, 2012 $125,000.00 December 31, 2012 $125,000.00 $ 1,250,000 The final installment due on February 21, 2013 shall be in the amount equal to $47,500,000 or, if different the then remaining unpaid principal balance of the Term Loan B.B shall be due on May 11, 2011. (iii) Notwithstanding Section 1.1(b)(ii1.1(c)(ii), the aggregate outstanding principal balance of the Term Loan B shall be due and payable in full in immediately available funds on the Commitment Termination Date, if not sooner paid in full. No payment with respect to the Term Loan B may be reborrowed. (iv) Each payment of principal with respect to the Term Loan B shall be paid to Agent for the ratable benefit of each Term LenderB Lender making a Term Loan B, ratably in proportion to each such Term B Lender's ’s respective Term Loan B Commitment.

Appears in 1 contract

Sources: Credit Agreement (Navarre Corp /Mn/)

Term Loan B. (i1) Subject to the terms and conditions hereof, each Lender with a Term Lender Loan B Commitment agrees to make a term loan (collectively, the “Term Loan B”) on the Closing Date to Borrower Borrowers in the original principal an amount of its the applicable Lender’s Term Loan B Commitment. The obligations of each Term Lender hereunder shall be several and not joint. The Upon request by any Lender with a Term Loan B Commitment, each Borrower shall be evidenced by execute and deliver to such Lender a promissory notes note substantially in the form of Exhibit 1.1(b1.1(b)(i) (each a “Term Loan B Note” and collectively collectively, the “Term Loan B Notes”), and, except as provided in Section 1.12, Borrower shall execute and deliver each Term B Note to the applicable Term Lender. Each Term Loan B Note (or, if a Term Loan B Note is not requested, this Agreement) shall represent the joint and several obligation of Borrower Borrowers to pay the amount of the applicable Term Lender's ’s Term Loan B Commitment, together with interest thereon hereon as prescribed in Section 1.5. (ii2) Borrower Borrowers shall repay the principal amount balance of the Term Loan B in twenty (20) consecutive quarterly installments on the last first day of MarchJanuary, JuneApril, September July and December October of each year, commencing March 31January 1, 20082011, as follows: Payment Installment March 31, 2008 $125,000.00 June 30, 2008 $125,000.00 September 30, 2008 $125,000.00 December 31, 2008 $125,000.00 March 31, 2009 $125,000.00 June 30, 2009 $125,000.00 September 30, 2009 $125,000.00 December 31, 2009 $125,000.00 March 31, 2010 $125,000.00 June 30, 2010 $125,000.00 September 30, 2010 $125,000.00 December 31, 2010 $125,000.00 March 31January 1, 2011 $125,000.00 June 30687,500 April 1, 2011 $125,000.00 September 30687,500 July 1, 2011 $125,000.00 December 31687,500 October 1, 2011 $125,000.00 March 31687,500 January 1, 2012 $125,000.00 June 30687,500 April 1, 2012 $125,000.00 September 30687,500 July 1, 2012 $125,000.00 December 31687,500 October 1, 2012 $125,000.00 687,500 January 1, 2013 $687,500 April 1, 2013 $687,500 July 1, 2013 $687,500 October 1, 2013 $687,500 January 1, 2014 $687,500 April 1, 2014 $687,500 July 1, 2014 $687,500 October 1, 2014 $687,500 January 1, 2015 $687,500 April 1, 2015 $687,500 July 1, 2015 $687,500 October 1, 2015 $687,500 January 1, 2016 $687,500 April 1, 2016 $687,500 July 1, 2016 $687,500 August 9, 2016 $259,187,500 The final installment due on February 21August 9, 2013 2016 shall be in the amount equal to of $47,500,000 259,187,500 or, if different different, the remaining principal balance of the Term Loan B, together with accrued interest and all fees, costs, expenses and other charges due by Borrowers with respect to the Term Loan B. (iii3) Notwithstanding Section 1.1(b)(ii1.1(b)(i)(2), the aggregate outstanding principal balance of the Term Loan B shall be due and payable in full in immediately available funds on the Commitment Termination DateDate applicable to the Term Loan B, if not sooner paid in full. No payment with respect to the Term Loan B may be reborrowed. (iv) Each payment of principal with respect to the Term Loan B shall be paid to Agent for the ratable benefit of each Term Lender, ratably in proportion to each such Term Lender's respective Term Loan B Commitment.

Appears in 1 contract

Sources: Credit Agreement (Blount International Inc)