Term Loan II. Subject to Section 2.3(b), the outstanding principal amount of the Term Loan II shall accrue interest at a fixed rate equal to 6.25%, which interest is payable monthly.
Term Loan II. Subject to the terms and conditions of this Agreement, upon the execution of the Business Financing Modification Agreement dated May 8, 2013, or as soon thereafter as is practical, Lender hereby agrees to make a one-time loan to Borrower in the principal amount of $2,500,000 (the “Term Loan II Advance”). Proceeds of Term Loan II Advance shall be used to repay all amounts outstanding under the Term Loan.
Term Loan II. Lender is lending to Borrower and Borrower is borrowing from Lender the sum of $5,000,000.00 as a second Term Loan (the "Term Loan II"), which Term Loan II is payable in quarterly payments of principal, each in the amount of $__________ payable on the first day of each March, June, September and December after the date hereof, each to be accompanied by a payment of interest at the rate set forth in Section 1.5 hereof until the Term Loan II Maturity Date, when the entire unpaid balance of Term Loan II, together with all accrued and unpaid interest, shall be due and payable, all as more particularly set forth in the Term Loan II Note delivered to Lender in form and substance as set forth in Exhibit F attached hereto, (together with any note which from time to time extends, amends, supplements, modifies, renews or substitutes for such note, the "Term Note II").
Term Loan II. All amounts outstanding from time to time under Term Loan II shall bear interest
(1) at a per annum variable rate which at all times is equal to the Prime Rate, said rate to change when and as said Prime Rate changes.
(2) At the election of Borrower made pursuant to a Notice of Interest Rate Election (in form and substance as set forth in EXHIBIT J, attached hereto), outstanding amounts under the Term Loan II shall bear interest at the LIBOR Rate plus one hundred ninety (190) basis points. Such election shall apply to the entire outstanding amount of Term Loan II and must remain outstanding for an Interest Period equal to three months.
Term Loan II. 4.1 Loan Commitment -------------------- Subject to and upon the terms and conditions set forth herein and in reliance upon the representations, warranties, and covenants of Borrower contained herein or made pursuant hereto, U. S. Bank will lend to Borrower $7,000,000 on a term loan basis ("Term Loan II").
Term Loan II. Section 2.1 of the Credit Agreement is amended by adding clause (c) thereto to read as follows:
Term Loan II. Silicon is making concurrently herewith a term loan in the initial principal amount of $17,500,000 (“Term Loan II”), the proceeds of which are to be used to refinance any existing Cisco capital lease obligations and any other outstanding capital lease obligations. Term Loan II shall be repaid in forty-eight equal monthly installments of principal commencing October 1, 2004 and continuing on the first day of each of the succeeding forty-seven months. Interest shall be paid monthly on the outstanding principal balance of Term Loan II at the rate set forth in Section 1.2 below. As used in this Agreement, “Loans” includes the Revolving Loans, Term Loan I and Term Loan II. Letter of Credit Sublimit (Section 1.6): $5,000,000.
Term Loan II. The Lender has previously made the Term Loan II to the Borrower, of which the principal amount of $45,916.79 is currently outstanding.
Term Loan II. (a) Bank will make a Term Loan II available to Borrower, on the Effective Date, to pay off the remaining portion of the Commitment, Commitment Percentage and Final Payments made available by GATX Ventures, Inc. under the Equipment Loan and Security Agreement by and among GATX Ventures, Inc., Silicon Valley Bank and Neah Power Systems, Inc. dated as of October 24, 2002 (the "Original Agreement") collectively defined as Term Loan II. The Term Loan II shall be subject to the repayment terms and conditions as set forth below. No further Term Loan II Credit Extensions shall be allowed. The following defined terms "Commitment", "Commitment Percentage", and "Final Payments" as referenced in this section shall have the meaning set forth in the Original Agreement.
Term Loan II. (a) The Term Loan-II shall be made by the Term Loan-II Lenders to Westinghouse ratably in accordance with their respective Term Loan-II Commitments. LAW2:13233 30 25
(b) The Term Loan-II may from time to time be comprised of Eurodollar Committed Loans or ABR Loans, as determined by Westinghouse and notified to the Administrative Agent in accordance with Sections 2.7 and 2.16.
(c) Each Term Loan-II Lender shall make the Term Loan-II to be made by it hereunder on the Merger Date by wire transfer of immediately available funds to the Administrative Agent in New York, New York, not later than 12:00 noon, New York City time, on such date, and the Administrative Agent shall by 3:00 p.m., New York City time, on such date, credit the amounts so received to the general deposit account of Westinghouse with the Administrative Agent.
