Term Loans; Term Notes Sample Clauses

Term Loans; Term Notes. (a) Subject to the terms and conditions set forth in this Agreement, each US Term Lender agrees to loan to US Borrower on the Closing Date its Pro Rata Share of the US Term Loan, which, in the aggregate, equals an original principal amount of Fourteen Million Dollars ($14,000,000); provided however that the amount of the Pro Rata Share of the US Term Loan of any US Term Lender shall not at any time exceed its separate Commitment. The US Term Loan is not a revolving credit facility and may not be drawn, repaid and redrawn. Any repayments of principal on the US Term Loan shall be applied to permanently reduce such US Term Loan. The obligations of the US Term Lenders hereunder are several and not joint or joint and several. The US Term Loan shall be evidenced by Term Notes, payable to the order of each US Term Lender in the principal amount of the related Commitment of the applicable US Term Lender, duly executed and delivered by US Borrower. Each US Term Lender hereby is authorized, but is not obligated, to enter the amount of such US Term Lender's Pro Rata Share of outstanding principal of the US Term Loan and the amount of each payment or prepayment of principal and interest thereon on the reverse of or on an attachment to such US Term Lender's Term Note. On the Closing Date, US Borrower irrevocably authorizes Agent and US Term Lenders to disburse the proceeds of the US Term Loan to the applicable account(s) of US Borrower set forth on Schedule 2.4, in all cases for credit to US Borrower, via Federal funds wire transfer.
Sample 1
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Term Loans; Term Notes. (a) Subject to the terms and conditions set forth in this Agreement, each Term A Lender agrees to loan to Borrower on the Closing Date its Pro Rata Share of the Term Loan A, which, in the aggregate, equals an original principal amount of Fourteen Million Dollars ($14,000,000). Term Loan A is not a revolving credit facility and may not be drawn, repaid and redrawn. Any repayments of principal on Term Loan A shall be applied to permanently reduce such Term Loan A. The obligations of the Term A Lenders hereunder are several and not joint or joint and several. The Term Loan A shall be evidenced by Term A Notes, payable to the order of each Term A Lender in the principal amount of the related Commitment of the applicable Term A Lender, duly executed and delivered by Borrower. The Term A Notes shall evidence the aggregate Indebtedness of Borrower to Term A Lenders under the Term Loan A. Each Term A Lender hereby is authorized, but is not obligated, to enter the amount of such Term A Lender's Pro Rata Share of outstanding principal of the Term Loan A and the amount of each payment or prepayment of principal and interest thereon on the reverse of or on an attachment to such Term A Lender's Term A Note. On the Closing Date, Borrower irrevocably authorizes Agent and Term A Lenders to disburse the proceeds of the Term Loan A to the applicable account(s) of Borrower set forth on Schedule 2.4, in all cases for credit to Borrower (or to such other account as to which the Borrower shall instruct Agent in writing) via Federal funds wire transfer no later than 3:00 p.m. (New York City time). After the Closing Date, Lenders may, from time to time in the sole discretion of Agent upon the failure of Borrower to pay interest pursuant to Section 2.7 when due, utilize the Term Loan A Interest Reserve Amount, which utilization shall for all purposes hereunder be treated as a Term Loan A and may be subject to additional terms and conditions determined by Agent in its sole discretion. Unless and until so utilized by Agent, the Term Loan A Interest Reserve Amount shall remain unfunded. Notwithstanding the foregoing, upon the failure of any Borrower to pay interest pursuant to Section 2.7 when due, Agent shall first charge the Revolving Facility (to the extent available) in an amount equal to such interest payments prior to utilization of the Term Loan A Interest Reserve Amount.
Sample 1
Term Loans; Term Notes. (a) Subject to the terms and conditions hereof, each Lender severally (and not jointly) agrees to make a term loan (each a "Term Loan" and, as the context may require, collectively with all other Term Loans of all other Lenders, the "Term Loans") to GP Canada on the GP Canada Borrowing Date, provided that immediately after giving effect thereto (i) such Lender's GP Canada Credit Exposure would not exceed such Lender's GP Canada Commitment Amount, and (ii) the Aggregate GP Canada Credit Exposure would not exceed the Aggregate GP Canada Commitment Amount. Subject to the provisions of Sections 2.3 and 3.3, at the option of GP Canada, Term Loans may be made as one or more (i) ABR Advances, (ii) Eurodollar Advances or (iii) any combination thereof.
Sample 1
Term Loans; Term Notes. In addition to the foregoing, subject to the terms and conditions of this letter agreement, the Bank will make one or more term loans (the "Term Loans") to the Borrower. The Term Loans are available as follows: (1) At the Borrower's request, and subject to the terms and conditions of this letter agreement, the Bank will make one or more Term Loans ("Tranche A Term Loans") to the Borrower in an aggregate original principal amount not to exceed $250,000. Such Tranche A Term Loans may be made on any Business Day prior to the first to occur of (i) the close of business on November 30, 1999 or (ii) the earlier termination of the Term Loan facilities pursuant to Section 5.2 or Section 6.6. (2) In addition, at the Borrower's request, and subject to the terms and conditions of this letter agreement, the Bank will make one or more Term Loans ("Tranche B Term Loans") to the Borrower in an aggregate original principal amount not to exceed $400,000. Such Tranche B Term Loans may be made on any Business Day prior to the first to occur of (i) the close of business on January 31, 2000 or (ii) the earlier termination of the Term Loan facilities pursuant to Section 5.2 or Section 6.6. (3) In addition, at the Borrower's request, and subject to the terms and conditions of this letter agreement, the Bank will make one or more Term Loans ("Tranche C Term Loans") to the Borrower in an aggregate original principal amount not to exceed $550,000. Such Tranche C Term Loans may be made on any Business Day prior to the first to occur of (i) the close of business on March 31, 2000 or (ii)
Sample 1
Term Loans; Term Notes. In addition to the foregoing, the Bank may ---------------------- make one or more loans (the "Term Loans") to the Borrower in an aggregate principal amount up to $1,500,000. On or about the date of execution and delivery of this letter agreement, the Bank is making a Term Loan (the "Initial Term Loan") to the Borrower in order to refinance the costs of items of Qualifying Equipment acquired by the Borrower on or prior to June 30, 1996 and heretofore expressly approved by the Bank for this purpose. The Initial Term Loan will be in the original principal amount of $675,000. Following the Initial Term Loan, the Bank may make one or more additional loans (the "Additional Term Loans") to the Borrower, at the Borrower's request, with no more than one Additional Term Loan to be made per calendar quarter (except that more than one Additional Term Loan may be made in any calendar quarter provided that each such Additional Term Loan in any one calendar quarter following the first such Additional Term Loan during such calendar quarter is in an amount of at least $50,000). Additional Term Loans shall be made in order to finance costs of Qualifying Equipment acquired by the Borrower after June 30, 1996 and within the 90 days preceding the request for such Additional Term Loan, each such Additional Term Loan to be in such amount as may be requested by the Borrower; provided that (i) no Additional Term Loan will be made after June 30, 1997; (ii) the aggregate original principal amounts of all Additional Term Loans will not exceed $825,000; and (iii) no Additional Term Loan will be in an amount more than 80% of the invoiced actual costs of the tangible property constituting the items of Qualifying Equipment with respect to which such Additional Term Loan is made (excluding taxes, shipping, software (other than custom software which is not prepackaged "shrink-wrapped" software with an invoiced cost not in excess of $150,000 in the aggregate), installation charges, training fees and other "soft costs"). Prior to the making of each Term Loan, and as a precondition thereto, the Borrower will provide the Bank with: (i) invoices supporting the costs of the relevant Qualifying Equipment; (ii) such evidence as the Bank may reasonably require showing that the relevant Qualifying Equipment has been delivered to and installed at the Borrower's Billerica, MA premises, has become fully operational, has been paid for by the Borrower and is owned by the Borrower free of all liens and i...
Sample 1
Term Loans; Term Notes. (a) Pursuant to the Original Agreement, each Lender severally (and not jointly) made a term loan (each a "Term Loan" and, as the context may require, collectively with all other Term Loans of all other Lenders, the "Term Loans") to GP Canada and such Term Loans shall continue to be subject to all the terms and conditions of this Agreement. Subject to the provisions of Sections 2.3 and 3.3, at the option of GP Canada, Term Loans may be made as one or more (i) ABR Advances, (ii) Eurodollar Advances or (iii) any combination thereof. As of August 1, 2000, the Term Loans had an aggregate outstanding principal balance of $13,500,000.00.
Sample 1
Term Loans; Term Notes. The Term Loan C, the Term Loan D and the Term Loan E are currently outstanding, as specified in Section 1.1. Subject to the terms and conditions hereinafter set forth, the Bank will make an additional term loan (the "Term Loan F") to the Borrower on the date of this Agreement in the principal amount of $4,000,000. Each Term Loan shall be evidenced by the applicable Term Note. The Borrower hereby irrevocably authorizes the Bank to make or cause to be made, on a schedule attached to the applicable Term Note or on the books of the Bank, at or following the time of receiving any payment of principal, an appropriate notation reflecting such transaction and the then aggregate unpaid principal balance of the applicable Term Loan. The amount so noted shall constitute PRIMA FACIE evidence as to the amount owed by the Borrower with respect to principal of such Term Loan. Failure of the Bank to make any such notation shall not, however, affect any obligation of the Borrower or any right of the Bank hereunder or under any Term Note.
Sample 1
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Related to Term Loans; Term Notes

  • Tranche B Term Loans Each Lender that has a Tranche B Term Loan Commitment severally agrees to lend to Borrower on the Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Tranche B Term Loan Commitments to be used for the purposes identified in subsection 2.5A. Borrower shall deliver to Administrative Agent a Notice of Borrowing no later than 12:00 Noon (New York City time) at least one Business Day prior to the Closing Date, requesting a borrowing of the Tranche B Term Loans. The Notice of Borrowing shall specify (i) the proposed Funding Date (which shall be a Business Day), and (ii) that such Loans shall be Base Rate Loans. The aggregate amount of the Tranche B Term Loan Commitments is $45,000,000; PROVIDED that the Tranche B Term Loan Commitments of Lenders shall be adjusted to (1) give effect to any assignments of the Tranche B Term Loan Commitments pursuant to subsection 10.1B and (2) any increase in Tranche B Term Loans pursuant to subsection 2.1A(iv). Each Lender's Tranche B Term Loan Commitment shall expire immediately and without further action on March 31, 2002 if the Tranche B Term Loans have not been made on or before that date. Subject to subsection 2.1A(iv), Borrower may make only one borrowing under the Tranche B Term Loan Commitments. Amounts 35 borrowed under this subsection 2.1A(ii) and subsequently repaid or prepaid may not be reborrowed.

  • Tranche A Term Loans Subject to the terms and conditions set forth herein, each Tranche A Term Loan Lender agrees to make a Tranche A Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche A Term Loan Commitment. Amounts repaid in respect of Tranche A Term Loans may not be reborrowed hereunder.

  • 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.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

  • Delayed Draw Term Loans Subject to the terms and conditions set forth in this Agreement and in the other Loan Documents (including, for avoidance of doubt, satisfaction of the conditions precedent set forth in Exhibit B attached hereto on the Closing Date and Exhibit E attached hereto on the applicable Delayed Draw Funding Date), the Initial Lender agrees to make delayed draw term loans to Borrower at any time and from time to time during the Availability Period (each, a “Delayed Draw Term Loan” and collectively, the “Delayed Draw Term Loans”); provided that the aggregate principal amount of all Delayed Draw Term Loan Notes shall not exceed the Maximum Delayed Draw Term Loan Principal Amount. Delayed Draw Term Loans may be funded at Xxxxxxxx’s request in multiple Advances made during the Availability Period and repaid in accordance with the terms of this Agreement and each Delayed Draw Term Loan Note. Whenever Borrower desires to incur a Delayed Draw Term Loan hereunder, Borrower shall give Administrative Agent at least five (5) Business Days’ (or such shorter period agreed to by Administrative Agent in its sole discretion) prior written notice of such Delayed Draw Term Loan to be incurred hereunder specifying the principal amount of such Delayed Draw Term Loan to be incurred and the date of such Advance (which shall be a Business Day). Each Delayed Draw Term Loan will be evidenced by a Delayed Draw Term Loan Note appropriately completed in accordance with the terms of the form of Delayed Draw Term Loan Note attached hereto as Exhibit G to include the applicable interest rate and required amortization payments; provided that the aggregate principal amount of all Delayed Draw Term Loan Notes shall not exceed the Maximum Delayed Draw Term Loan Principal Amount. Interest on each Delayed Draw Term Loan shall accrue commencing on the Delayed Draw Funding Date for such Delayed Draw Term Loan at a per annum rate equal to the Term SOFR Rate plus 5.95%. Xxxxxxxx agrees to repay the Delayed Draw Term Loans, with interest, in accordance with the Delayed Draw Term Loan Notes, this Agreement, and the other Loan Documents. The obligation of Borrower to repay the Delayed Draw Term Loans, together with interest as provided in this Agreement and in each Delayed Draw Term Loan Note, shall commence upon the funding of each Delayed Draw Term Loan on the Delayed Draw Funding Date for such Delayed Draw Term Loan and shall be unconditional. Borrower hereby accepts each Delayed Draw Term Loan requested by Borrower on the Delayed Draw Funding Date for such Delayed Draw Term Loan, subject to and upon the terms and conditions set forth herein.

  • Revolving Loans and Term Loans The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Revolving Loans or Term Loans of any Class in whole or in part without premium or penalty; provided that (A) such notice must be received by the Administrative Agent not later than 1:00 p.m. (1) three Business Days prior to any date of prepayment of Eurocurrency Rate Loans denominated in Dollars, (2) four Business Days (or five Business Days in the case of a Special Notice Currency) prior to any date of prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies and (3) on the date of prepayment of Base Rate Loans; (B) any such prepayment of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 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 $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (D) any prepayment of the Term Loans shall be in such proportions as the Borrower shall elect and each such prepayment shall be applied as directed by the Borrower and, absent such direction, shall be applied in direct order of maturity to the remaining principal amortization payments of the applicable Term Loan; and (E) any such notice may be conditioned on the effectiveness of other financing arrangements or one or more other transactions. Each such notice shall specify the date and amount of such prepayment and the Class and Type(s) of Loans to be prepaid and, if Eurocurrency Rate Loans are to be prepaid, the Interest Period(s) of such Loans. 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, subject to the occurrence of any condition(s) specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the applicable Class of Loans being prepaid of the applicable Lenders in accordance with their respective Applicable Percentages for such Class.

  • Term Loans Subject to the terms and conditions of this Agreement, on the Closing Date, each Lender then party to this Agreement severally (and not jointly) made a term loan to Borrowers (collectively, the “Existing Term Loans”) in an amount equal to $20,000,000. Subject to the terms and conditions of this Agreement and the First Amendment, on the First Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “First Amendment Term Loans”) in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the First Amendment on the First Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $40,000,000. Subject to the terms and conditions of this Agreement and the Second Amendment, on the Second Amendment Effective Date, each Lender severally (and not jointly) agrees to make an additional term loan to Borrowers (collectively, the “Second Amendment Term Loans,” and together with the Existing Term Loan and the First Amendment Term Loans, collectively, the “Term Loans”), in an amount equal to such Lxxxxx’s Term Loan Commitment, such that after giving effect to the Second Amendment on the Second Amendment Effective Date, the aggregate principal amount of the Term Loans hereunder shall be $60,000,000. All Term Loans shall be made in and repayable in Dollars. Amounts repaid in respect of Term Loans may not be reborrowed, and upon each Lender’s making of the Second Amendment Term Loans on the Second Amendment Effective Date, any then outstanding Term Loan Commitment of such Lender shall be terminated (it being understood and agreed that the initial Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the Closing Date, were reduced to $0 upon the funding of the Existing Term Loans on the Closing Date and the Term Loan Commitments of $20,000,000, under and as defined in this Agreement as in effect on the First Amendment Effective Date, were reduced to $0 upon the funding of the First Amendment Term Loans on the First Amendment Effective Date).

  • 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.

  • Revolving Loan Facility On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to the Borrower from time to time during the period beginning on the Effective Date up to, but not including the Termination Date, such loans in Dollars as the Borrower may request under this Section 2.01(b) (individually, a “Revolving Loan”); provided, however, that (i) the sum of (A) the Effective Amount of all Revolving Loans made by such Lender at any time outstanding and (B) such Lender’s Revolving Proportionate Share of the Effective Amount of all L/C Obligations and all Swing Line Loans at any time outstanding shall not exceed such Lender’s Revolving Loan Commitment at such time and (ii) the sum of (A) the Effective Amount of all Revolving Loans made by all of the Revolving Lenders at any time outstanding and (B) the Effective Amount of all L/C Obligations and Swing Line Loans at any time outstanding shall not exceed the Revolving Loan Facility at such time. All Revolving Loans shall be made on a pro rata basis by the Revolving Lenders in accordance with their respective Revolving Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Revolving Lender equal to such Lender’s Revolving Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein, the Borrower may borrow, repay and reborrow Revolving Loans until the Termination Date in respect of the Revolving Loan Facility.

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