Term Loan E. In the absence of an Event of Default or Default hereunder, the outstanding principal balance of Term Loan E shall bear interest at the following interest rate (in each case calculated on the basis of a 360-day year and the actual number of days elapsed):
Term Loan E. Funds advanced under Term Loan E shall be used by the Borrower to repay $2,000,000 of the outstanding advances under the Revolving Credit Facility.
Term Loan E. The indebtedness of the Borrower under Term Loan E shall be evidenced by Term Note E.
Term Loan E. On the effective date of the Third Amendment, the Bank will make a term loan to the Borrower in the principal amount of $2,000,000 ("Term Loan E"). Any amounts of Term Loan E that are repaid or prepaid may not be reborrowed hereunder.
Term Loan E. In the absence of an Event of Default or Default hereunder, the outstanding principal balance of Term Loan E shall bear interest at the following interest rate (in each case calculated on the basis of a 360-day year and the actual number of days elapsed):
(i) Each portion of Term Loan E which is a LIBOR Market Interest Loan shall bear interest at the LIBOR Market Index Rate plus 150 basis points (1.50%), payable by the Borrower monthly on the first day of each month and upon the maturity of Term Loan E.
(ii) Each portion of Term Loan E which is a LIBOR Loan shall bear interest at the LIBOR Adjusted Rate for such LIBOR Loan plus 150 basis points (1.50%), payable by the Borrower on the last day of the applicable Interest Period and upon the maturity of Term Loan E.
Term Loan E. Subject to the terms and conditions set forth herein, each Lender severally made, on the Delayed Funding Date, its portion of a separate FORTY MILLION DOLLAR ($40,000,000) term loan (identified as Loan 6219592-103 by NWFCS) to the Borrowers in Dollars (“Term Loan E”).
Term Loan E. Bank has made a loan to Borrower in the original principal amount of One Million Dollars ($1,000,000.00) ("Term Loan E"), on which the outstanding principal balance as of the date hereof is Five Hundred Sixteen Thousand Six Hundred Sixty-six and 57/100 Dollars ($516,666.
Term Loan E. In the absence of an Event of Default or Default hereunder, the outstanding principal balance of Term Loan E shall bear interest at the following interest rate (in each case calculated on the basis of a 360-day year and the actual number of days elapsed):
(i) Each portion of Term Loan E which is a LIBOR Market Interest Loan shall accrue interest at the LIBOR Market Index Rate plus 250 basis points (2.50%), payable by the Borrower monthly in arrears on the first day of each month and upon maturity of Term Loan E. Upon and following the Supplemental Credit Facility Payment Date, and provided that no Event of Default or Default has occurred hereunder, interest on the outstanding principal of Term Loan E shall accrue at the LIBOR Market Index Rate plus 200 basis points (2.00%).
(ii) Each portion of Term Loan E which is a LIBOR Loan shall bear interest at the LIBOR Adjusted Rate for such LIBOR Loan plus 250 basis points (2.50%), payable by the Borrower monthly in arrears on the first day of each month and upon maturity of Term Loan E. Upon and following the Supplemental Credit Facility Payment Date, and provided that no Event of Default or Default has occurred hereunder, interest on the outstanding principal of Term Loan E shall accrue at the LIBOR Adjusted Rate for such LIBOR Loan plus 200 basis points (2.00%).'
2.3.4 Amendment to subsection (f). Subsection (f) of Section 2.5 of the Credit Agreement is amended to read as follows:
Term Loan E. Upon the terms and subject to the conditions of, and in reliance upon the representations and warranties made under, this Agreement, FCC agrees, at Borrowers' request, to accept from Borrowers a Term Note E payable to FCC, dated the Amendment No. 8 Effective Date, in the original principal amount of $1,000,000. Borrowers may not reborrow any amount of Term Loan E that is repaid.
Term Loan E. (a) Availability. Bank previously made the Term Loan E to Parent pursuant to the Amendment 2 to Second Loan Agreement. The aggregate principal amount outstanding under the Term Loan E as of the date of this Agreement is $5,000,000.