Term Loan Two Sample Clauses

Term Loan Two. Each Lender severally agrees to make, on the Closing Date, an additional term loan to the Borrower in an amount equal to such Lender's Term Loan Two Commitment set forth on Schedule I ("Term Loan Two"). The aggregate initial principal amount of Term Loan Two shall be $20,000,000. The Lenders agree that one or more of the existing Lenders, or an additional Lender, may agree to make (but shall have no obligation to make), not later than June 30, 2001, an additional term loan in the aggregate principal amount of $10,000,000; in such event (i) the additional term loan shall be allocated solely to Term Loan Two to increase the aggregate principal amount of Term Loan Two to $30,000,000; (ii) the Commitments of the Lenders (as to Term Loan One, Term Loan Two and the Revolving Loan) shall be adjusted so that each Lender shall have the same Pro Rata Share of each Loan; and (iii) a new Schedule I shall be attached by the Agent to this Agreement to reflect the foregoing. The initial Term Loan Two shall be made simultaneously by the Lenders on the Closing Date, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make Term Loan Two hereunder nor shall the Term Loan Two Commitment of any Lender be increased or decreased as a result of any such failure; similarly, the additional Term Loan Two shall be made simultaneously by the Lender(s) on or prior to June 30, 2001, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make the Term Loan Two hereunder nor shall the Term Loan Two Commitment of any Lender be increased or decreased as a result of any such failure
Sample 1
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Term Loan Two. Subject to all of the terms and conditions hereof, the Bank agrees to make a loan (the "Term Loan Two") to the Company under the Term Credit in the amount of $4,000,000. The Term Loan Two shall be made in four advances of $1,000,000 each by no later than the close of business in Chicago, Illinois on June 5, 1996, at which time the commitment of the Bank to make the Term Loan Two (the "Term Two Commitment") shall expire. The Term Loan Two shall be evidenced by a Term Credit Note Two of the Company (the "Term Credit Note Two") payable to the order of the Bank in the amount of $4,000,000 such Term Credit Note Two to be in the form attached hereto as Exhibit B-2. The Term Credit Note Two shall be expressed to mature in eight (8) semi-annual installments of principal, commencing on November 30, 1996 and continuing on the last day of each May and November occurring thereafter to and including May 31, 2000, with the first seven (7) installments to be in the amount of $286,000 and with the final installment to be in the amount of $1,998,000.
Sample 1
Term Loan Two. (a) Subject to the terms and conditions of this Agreement, the Lender agrees to make Term Loan Two to the Borrowers in a principal amount equal to $1,000,000. The proceeds of Term Loan Two shall be used to refinance Debt of the Borrowers to the Lender under the Existing Agreement.
Sample 1
Term Loan Two. The Term Loan Two Lenders have made a "Term Loan Two" to the Borrower in an aggregate original principal amount of $32,000,000, which has an aggregate outstanding principal balance of $22,400,000 as of the date of this Agreement, and shall mature on May 2, 2005. The amount of each Term Loan Two Lender's Term Loan Two Commitment is shown on Schedule 1A.
Sample 1
Term Loan Two. Term Loan Two shall continue to be repaid in equal consecutive installments of $1,600,000, payable quarterly on each September 30, December 31, March 31 and June 30, with a balance of all unpaid principal being due and payable at maturity on May 2, 2005. In addition to the foregoing installment payments, the Borrower may make voluntary prepayments and shall make mandatory prepayments as described in Section 2.7. Term Loan Two shall be permanently reduced by the amount of each such installment on the date payment thereof is made hereunder, and no portion of the Term Loan Two may be reborrowed once it is repaid. The purpose of Term Loan Two was to finance the acquisition of the Power Offshore Vessels. The obligations of the Borrower on Term Loan Two shall be secured by a first preferred ship mortgage on the Power Offshore Vessels.
Sample 1
Term Loan Two. The Term Loan Two Lenders severally agree to make, at the request of the Borrower not later than November 30, 2001, an additional term loan to the Borrower in an amount equal to each Term Loan Two Lender's Term Loan Two Commitment set forth on Schedule 1B ("Term Loan Two"), but in no event greater than 75% of the appraised value of the Power Offshore Vessels. The Term Loan Two shall be made simultaneously by the Term Loan Two Lenders, it being understood that no Term Loan Two Lender shall be responsible for any failure by any other Term Loan Two Lender to perform its obligation to make the Term Loan Two hereunder nor shall the Term Loan Two Commitment of any Term Loan Two Lender be increased or decreased as a result of any such failure.
Sample 1
Term Loan Two. Subject to the terms and conditions of this Agreement, Xxxxxx agrees to make a term loan (the “Term Loan Two”) to Borrower in the principal amount of Ten Million Dollars ($10,000,000). Commencing on September 30, 2022, interest on the Term Loan shall be paid monthly as provided in Section 1.2 of this Agreement and Section 2 of the Schedule. In the event the Prime Rate increases, Borrower will be charged the difference (so long as it is positive) between (i) the Prime Rate plus 7.85% and (ii) 13.35%. The amount of such difference will be charged to (and payable by) Borrower as of the last day of each fiscal quarter. The Term Loan shall be repaid by the Borrower to Lender in 60 equal monthly installments of principal, plus accrued but unpaid interest, commencing on September 30, 2023, and continuing on the last day of the month thereafter until the earliest of the following dates (“Term Loan Maturity Date”): (i) the date the Term Loan has been paid in full, (ii) the Revolver Maturity Date or (iii) the date this Agreement terminates by its terms or is terminated, as provided in this Agreement. On the Term Loan Maturity Date (or, if earlier, upon acceleration of the Obligations in accordance with the terms of this Agreement), the entire unpaid principal balance of the Term Loan, plus all other Obligations relating to the Term Loan shall be due and payable. Any portion of the Term Loan that is repaid may not be reborrowed. All payments by Borrower to Lender in respect of the Term Loan shall be made via ACH banking transfer to Xxxxxx’s bank account per written instructions that Lender shall provide to Borrower.
Sample 1
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Term Loan Two. (a) From March 27, 2003 until December 31, 2003 (the "Term Loan Two Availability End Date"), Bank will make a term loan available to Borrower to purchase "
Sample 1
Term Loan Two. (a) The term loan made under the First Amendment ("Term Loan Two") in the original principal amount of One Million Dollars ($1,000,000) shall be repaid in thirty six (36) equal installments of principal plus; interest (each a "Term Loan Two Payment"). Each Term Loan Two Payment is payable on the first (1st) day of each month during the term of the Term Loan Two. Borrower's final Term Loan Two Payment, due on June 1, 2006, includes all outstanding Term Loan Two principal and accrued interest. In the event Borrower prepays Term Loan Two in full or in part, Borrower shall at the time of such prepayment make an additional payment to Bank in the amount of one percent (1.0%) of the amount being prepaid.
Sample 1

Related to Term Loan Two

  • 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 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 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 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 Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrower during the period from the Closing Date to June 12, 2009, in an aggregate amount not to exceed such Lender’s Pro Rata Share of the Term Commitment. The Borrower from time to time may borrow under the Term Loan Facility (and may reborrow any amount theretofore prepaid) until close of business on June 12, 2009, for a term not to exceed 364 days from the date of the Borrowing. Each such loan under the Term Loan Facility (a “Term Loan”) shall be in the minimum amount of $10,000,000 and shall become due and payable on the last day of the term selected by the Borrower for such Term Loan (the “Term Loan Maturity Date”), which shall in no event be later than 364 days from the date of such Term Loan. The maximum availability under the Term Loan Facility shall be the amount of the Credit minus the aggregate outstanding principal amount of Revolving Loans and Term Loans made by the Lenders; provided, however, that to the extent the proceeds of a Term Loan are used to repay an outstanding Revolving Loan (or a portion thereof), such Revolving Loan (or portion thereof) shall not be considered part of the aggregate principal amount of outstanding Revolving Loans made by the Lenders for purposes of this sentence (such maximum availability hereafter being referred to as the “Term Loan Availability”). Under no circumstances shall the aggregate outstanding principal amount of Term Loans and Revolving Loans made by the Lenders exceed the Credit, and under no circumstances shall any Lender be obligated (i) to make any Term Loan (nor may the Borrower reborrow any amount heretofore prepaid) after June 12, 2009, or (ii) to make any Term Loan in excess of the Term Loan Availability. Each Term Loan made hereunder shall fully and finally mature and be due and payable in full on the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan; provided, however, that to the extent the Borrowing Advice for any Term Loan selects an Interest Period that expires before the Term Loan Maturity Date specified in such Borrowing Advice, the Borrower may from time to time select additional interest rate options and Interest Periods (none of which shall extend beyond the Term Loan Maturity Date for such Term Loan) by delivering a Borrowing Advice or Notice of Conversion/Continuation, as applicable.

  • Term Loan Commitment As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.

  • Term Loan Note A promissory note made by the Borrower in favor of a Term Loan Lender in the principal face amount equal to such Term Loan Lender’s Term Loan Commitment, in substantially the form of Exhibit B hereto.

  • 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 Notes If so requested by any Lender by written notice to Borrower (with a copy to Administrative Agent) at least two (2) Business Days prior to the Closing Date, or at any time thereafter, Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is an assignee of such Lender pursuant to Section 10.6) on the Closing Date (or, if such notice is delivered after the Closing Date, promptly after Borrower’s receipt of such notice) a Term Loan Note or Term Loan Notes to evidence such Lender’s Term Loans to such Borrower.

  • 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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