Term Loans B. Subject to and upon the terms and conditions of this Agreement, the Lenders agree to make, severally and not jointly, according to each Lender’s Term Loan Commitment Amount, one or more term loans to Borrower in an aggregate principal amount not to exceed $10,000,000 (each a “Term Loan B” and, collectively, the “Term Loans B”, and together with the Term Loans A, each a “Term Loan” and collectively, the “Term Loans”). Each Term Loan B shall be in a minimum amount of $250,000. Borrower may request Term Loans B at any time from the Term Loan B Availability Start Date through the Term Loan B Availability End Date. The proceeds of the Term Loans B shall be used for general working capital purposes, for capital equipment purchases, to pay Lender Expenses and to pay the fees under this Agreement.
Term Loans B. Borrower may use proceeds of Term Loans B solely for the purpose of acquiring Station KUTH (Channel 32) licensed to Provo, Utah, or such other Station or Stations as may be approved by the Collateral Agent and Administrative Agent.
Term Loans B. Section 2.3 of the Agreement is hereby amended in its entirety as follows:
Term Loans B. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make one (1) or more term loans to Borrowers in an aggregate principal amount not to exceed $5,000,000 (each a “Term Loan B” and collectively the “Term Loans B”, and together with the Term Loan A, the “Term Loans”) at any time after Borrowers’ achievement of the Term Loan B Milestone through the Availability End Date. The proceeds of the Term Loans B shall be used for general working capital purposes and for capital expenditures.
(ii) Interest shall accrue from the date of each Term Loan B at the rate specified in Section 2.3(a), and prior to the Interest-Only End Date shall be payable monthly beginning on the first day of the month next following such Term Loan B, and continuing on the same day of each month thereafter. Any Term Loans B that are outstanding on the Interest-Only End Date shall be payable in equal monthly installments of principal, plus all accrued interest, beginning on April 7, 2018, and continuing on the same day of each month thereafter through the Term Loan Maturity Date, at which time all amounts due in connection with the Term Loans B and any other amounts due under this Agreement shall be immediately due and payable. Term Loans B, once repaid, may not be reborrowed. Borrowers may prepay any Term Loan B without penalty or premium.
(iii) When Borrowers desire to obtain a Term Loan B, Borrowers shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:30 p.m. Eastern time on the day on which the Term Loan B is to be made. Such notice shall be substantially in the form of Exhibit C. The notice shall be signed by an Authorized Officer.”
4. Section 2.3(a) of the Agreement hereby is amended and restated in its entirety to read as follows:
(a) Interest Rate for Term Loans. Except as set forth in Section 2.3(b), the Term Loans shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of (A) 1.50% above the Prime Rate then in effect, or (B) 5.00%.”
Term Loans B. Subject to and upon the terms and conditions of this Agreement, Bank agrees to make one (1) or more term loans to Borrower in an aggregate principal amount not to exceed Five Hundred Thousand Dollars ($500,000) (each a “Term Loan B” and collectively the “Term Loans B”, and together with the Term Loans A, each a “Term Loan” and collectively the “Term Loans”). Borrower may request Term Loans B at any time after the achievement of the Clinical Trial Milestone but on or before the Availability End Date. The proceeds of the Term Loans B shall be used for general working capital purposes.
Term Loans B. The Borrower shall repay to the Administrative Agent for the account of the Term B Lenders on each Principal Payment Date, commencing on March 31, 2016, a principal repayment installment equal to $87,500.00 (which installments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.04), unless accelerated sooner pursuant to Section 8.02; provided, however, that the final principal repayment installment of the Term Loans B shall be repaid on the Maturity Date (whenever such date may occur) and in any event shall be in an amount equal to the aggregate Outstanding Amount of all Term Loans B outstanding on such date.
Term Loans B. (a) Availability. Pursuant to the terms of the Original Agreement, Bank has made two (2) Term Loans B to Borrowers. The aggregate principal amount of the Term Loans B outstanding as of the Effective Date equal (i) Six Hundred Twenty Four Thousand Nine Hundred Ninety Nine Dollars and Eighty Five Cents ($624,999.85) (“Term Loan B Tranche 1”) and (ii) Two Million Eight Hundred Sixty Four Thousand Five Hundred Eighty Three Dollars and Forty One Cents ($2,864,583.41) (“Term Loan B Tranche 2”).
Term Loans B. Subject to the terms and conditions hereof, the Term Loans B, or portions thereof, may be outstanding as either Prime Lending Rate Portions or LIBOR Lending Rate Portions, by designating, in accordance with Sections 2.5(b) and 2.6(b), either the Prime Lending Rate, or the LIBOR Lending Rate to apply to all or any portion of the unpaid principal balance of the Term Loans B; provided, however, there shall be no more than three (3) LIBOR Lending Rate Portions of Term Loans B outstanding at any time. LIBOR Lending Rate Portions of Term Loans B shall be in minimum amounts each of $1,000,000.
Term Loans B. Subject to and upon the terms and conditions of this Agreement, Bank agrees to make one (1) or more term loans to Borrower in an aggregate principal amount not to exceed $10,000,000 (each a “Term Loan B” and collectively the “Term Loans B”, and together with the Term Loan A, each a “Term Loan” and collectively, the “Term Loans”). Borrower may request Term Loans B at any time from the Fifth Amendment Date through the Availability End Date. The proceeds of the Term Loans B shall be used for general working capital purposes and capital expenditures.
Term Loans B. On December 15, 2004, each Term Loan B Lender shall make a loan to Borrower in the amount set forth opposite such Term Loan B Lender’s name on Schedule I hereto.
