Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (ii, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date.
Appears in 4 contracts
Samples: Credit Agreement (Mission Broadcasting Inc), Credit Agreement (Mission Broadcasting Inc), Credit Agreement (Nexstar Broadcasting Group Inc)
Term Loans. Subject to adjustment as a result The Parent Borrower (and, in the case of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Tranche B Term Loans, (ithe Subsidiary Co-Borrowers on a joint and several basis) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last dates set forth on Annex I, or if any such date is not a Business Day Day, on the immediately preceding Business Day, an aggregate principal amount of the Tranche A Term Loans, the Tranche B Term Loans, the Tranche C Term Loans, the Delayed Draw 1 Term Loans and the Delayed Draw 2 Term Loans equal to the amount set forth on Annex I for such date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), together in each month case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of Marchsuch payment, June, September and December occurring until on the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of (i) the aggregate principal amount of all Tranche A Term B Loans made by all Term B Lenders under Section 2.01(a); providedoutstanding on such date, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to (ii) the aggregate principal amount of all Tranche B Term B Loans outstanding on such date, (iii) the aggregate principal amount of all Tranche C Term Loans outstanding on such date, (iv) the aggregate principal amount of all Delayed Draw 1 Term Loans outstanding on such date and (ii, (iiv) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Delayed Draw 2 Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date.
Appears in 2 contracts
Samples: Credit Agreement (Clear Channel Communications Inc), Credit Agreement (C C Media Holdings Inc)
Term Loans. Subject (i) The Administrative Borrower shall repay to adjustment as a result the Term A Lenders the aggregate principal amount of all Term A Loans in quarterly principal installments equal to 1.25% of the aggregate principal amount of the Term A Facility drawn under Section 2.01(a), on the last Business Day of each Fiscal Quarter (commencing on the last Business Day of the first full Fiscal Quarter after the Fiscal Quarter in which the Closing Date occurs);
(ii) The Canadian Borrower shall repay to the CAD Term Lenders, in quarterly principal installments equal to 1.25% of the aggregate principal amount of the CAD Term Facility, on the last Business Day of each Fiscal Quarter (commencing on the last Business Day of the first full Fiscal Quarter after the Fiscal Quarter in which the Closing Date occurs); provided that in each case (A) the amount of each such payment shall be adjusted for the application of prepayments in accordance with the order of priority set forth in Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, 2.05 and (iB) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the applicable Term B Loans shall be due and payable repaid on the Maturity Date for the such Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all applicable Term B Loans outstanding on such date and (ii, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date; provided further, that (i) if any principal repayment installment to be made by the Borrower (other than principal repayment installments on Eurocurrency Rate Loans) shall come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day.
Appears in 2 contracts
Samples: Credit Agreement (BWX Technologies, Inc.), Credit Agreement (BWX Technologies, Inc.)
Term Loans. Subject (i) The Borrower shall repay to adjustment the Administrative Agent for the ratable account of the Term Lenders on the last Business Day of each March, June, September and December, (x) commencing on the last Business Day of December 2006 until the last Business Day of December 2010, an aggregate amount equal to 0.25% of the aggregate amount of all Term Loans outstanding on the Restatement Effective Date (the “Quarterly Amortization Amount”), (y) commencing on the last Business Day of March 2011 until the last Business Day of December 2011, (1) to the Term B-1 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term Loans on the Second Restatement Effective Date constituting Term B-1 Loans, and (2) to the Term B-2 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term Loans on the Second Restatement Effective Date constituting Term B-2 Loans, and (z) commencing on the last Business Day of March 2012, (1) to the Term B-2 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term Loans on the Third Restatement Effective Date constituting Term B-2 Loans and (2) to the Term B-3 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term Loans on the Third Restatement Effective Date constituting Term B-3 Loans (which payments described in this Section 2.07(a) shall be reduced with respect to each Class of Term Loans as a result of the application of prepayments prepayments, whether prior to or after the Third Restatement Effective Date, in accordance with the order of priority set forth in Section 2.05, 2.05 or in each case, solely to the extent of connection with any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payableExtension as provided in Section 2.16), and (ii) the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly Appropriate Lenders, on the last Business Day Maturity Date for each Class of each month of MarchTerm Loans, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (ii, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans Class outstanding on such date.
Appears in 2 contracts
Samples: Credit Agreement (CRC Health CORP), Third Amendment Agreement (CRC Health CORP)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, in each case, 2.05 solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last first Business Day of each month of MarchJanuary, JuneApril, September July, and December October occurring until the Maturity DateDate with respect to the Term Facility, commencing with the first such payment due and payable date on June 30January 1, 20132020, an amount equal to 0.252.50% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a), unless accelerated sooner pursuant to Section 8.02; provided, however, that (i) the final principal repayment installment of the Term B Loans shall be due and payable repaid on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (ii) (A) if any principal repayment installment to be made by the Borrower (other than principal repayment installments on Eurocurrency Rate Loans) shall come due on a day other than a Business Day, (ii) the Term B-2 Loans such principal repayment installment shall be due and payableon the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September case may be and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final (B) if any principal repayment installment to be made by the Borrower on a Eurocurrency Rate Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the result of the Term B-2 Loans such extension would be to extend such principal repayment installment into another calendar month, in which event such principal repayment installment shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last immediately preceding Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such dateDay.
Appears in 2 contracts
Samples: Credit Agreement (Team Inc), Credit Agreement (Team Inc)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last Business Day of each month of MarchLenders, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans that are outstanding on the Third Amendment Closing Date, with a like amount of the gross proceeds of Additional Term B-2 Loans made by all the Additional Term B B-2 Lenders under pursuant to Section 2.01(a2.01(f); provided, however, that concurrently with the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (iireceipt thereof, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e) and Section 2.01(f); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on December 31, 2014 (the first such date occurring after the First Amendment Closing Dateend of the Term A Availability Period), an amount equal to one quarter of the following annual percentage reductions for each year payment set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For for the first year following four payments commencing December 31, 2014 through and including September 30, 2015 5% for the First Amendment Closing Date 0 four payments commencing December 31, 2015 through and including September 30, 2016 7% For for the second year following four payments commencing December 31, 2016 through and including September 30, 2017 10% for the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 two payments commencing December 31, 2017 through and including March 31, 2018 10% provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date.
Appears in 2 contracts
Samples: Credit Agreement (Nexstar Broadcasting Group Inc), Credit Agreement (Nexstar Broadcasting Group Inc)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Term B Appropriate Lenders quarterly (a) on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on June 30December 31, 20132019 through December 31, 2020, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Closing Date Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (iithe Closing Date, (iib) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until December, commencing with March 31, 2021, an aggregate principal amount equal to $3,667,341.77 (which payments, in the case of the foregoing clauses (a) and (b), shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (c) on the Original Term Loan Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date. In connection with any Incremental Term Loans that constitute part of the same Class as the Closing Date Term Loans, the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Closing Date Term Loans comprising part of such Class continue to receive a payment that is not less than the same Dollar amount that such Term Lenders would have received absent the incurrence of such Incremental Term Loans; provided, that if such Incremental Term Loans are to be “fungible” with the Closing Date Term Loans, notwithstanding any other conditions specified in this Section 2.07(1), the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by the Borrower and the Administrative Agent to ensure that the Incremental Term Loans will be “fungible” with the Closing Date Term Loans.”
Appears in 2 contracts
Samples: Credit Agreement (Ensemble Health Partners, Inc.), Credit Agreement (Thor Holdco Corp.)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last Business Day of each month of MarchLenders, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans that are outstanding on the Third Amendment Closing Date, with a like amount of the gross proceeds of Additional Term B-2 Loans made by all the Additional Term B B-2 Lenders under pursuant to Section 2.01(a2.01(f); provided, however, that concurrently with the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (iireceipt thereof, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e) and Section 2.01(f); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 0% For the second year following the First Amendment Closing Date 5 5% For the third year following the First Amendment Closing Date 7 7% For the fourth year following the First Amendment Closing Date 10 10% For the fifth year following the First Amendment Closing Date 10 10% provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date.
Appears in 2 contracts
Samples: Credit Agreement (Nexstar Broadcasting Group Inc), Credit Agreement (Nexstar Broadcasting Group Inc)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders (A) with respect to the Initial Term B Lenders quarterly Loans, on the last Business Day of each month of March, June, September and December occurring until December, commencing with last Business Day of June 2019, an aggregate principal amount equal to $700,505.05 (which payments shall (x) be reduced as a result of the Maturity Dateapplication of prepayments in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.05(a)(v) and Section 10.07(l)) and (y) not be made with respect to Initial Term Loans that were prepaid pursuant to Section 2.05(a)(v)), (B) with respect to the 2020 Incremental Term Loans, on the last Business Day of each March, June, September and December, commencing with the first such payment due and payable on June 30, 2013last business day of March 2021, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all 2020 Incremental Term B Loans made by all Term B Lenders as of the Fifth Amendment Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.01(a2.05(a)(v) and Section 10.07(l); provided) and (C) with respect to all Initial Term Loans and 2020 Incremental Term Loans, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Initial Term B Facility Loans and in any event shall be in an amount equal to 2020 Incremental Term Loans, the aggregate principal amount of all Initial Term B Loans outstanding on such date and (ii, (ii) the 2020 Incremental Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date, together with accrued interest thereon. In connection with any Incremental Term Loans that constitute part of the same Class as the Initial Term Loans or 2020 Incremental Term Loans, as applicable, the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Initial Term Loans comprising such Class or the 2020 Incremental Term Lenders holding 2020 Incremental Term Loans, as applicable, continue to receive a payment that is not less than the same amount that such Term Lenders or 2020 Incremental Term Lenders would have received absent the incurrence of such Incremental Term Loans; provided, that if such Incremental Term Loans are to be “fungible” with the Initial Term Loans or 2020 Incremental Term Loans, as applicable, notwithstanding any other conditions specified in this Section 2.07(a), the amortization for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by the Borrower and the Administrative Agent to ensure that the Incremental Term Loans will be “fungible” with the Initial Term Loans or 2020 Incremental Term Loans, as applicable.”
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Term Loans. Subject Each of the Borrower and the Subsidiary Borrowers shall, jointly and severally, repay to adjustment the Administrative Agent (with any such payments to be allocated among the Borrower and the Subsidiary Borrowers ratably in accordance with their then outstanding Designated Amounts except as specified by the Borrower in writing):
(i) for the ratable account of the Term B-9 Lenders, on the last Business Day of each March, June, September and December, commencing on the last Business Day of September, 2014, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-9 Loans outstanding on the Fourth Amendment Effective Date (including any Term B-7 Loans that were converted into Term B-9 Loans on the Fourth Amendment Effective Date); provided that such payments of Term B-9 Loans shall be reduced as a result of the application of prepayments of Term B-9 Loans made after the Fourth Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, ;
(iii) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly B-10 Lenders, on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with on the first such payment due and payable on June 30last Business Day of September, 20132014, an aggregate amount equal to 0.25% of the aggregate principal amount of all Term B B-10 Loans made by all outstanding on the Fourth Amendment Effective Date (including any Term B Lenders under Section 2.01(aB-7 Loans and Term B-8 Loans that were converted into Term B-10 Loans on the Fourth Amendment Effective Date); provided, however, provided that the final principal repayment installment such payments of the Term B B-10 Loans shall be due and payable on reduced as a result of the Maturity application of prepayments of Term B-10 Loans made after the Fourth Amendment Effective Date for in accordance with the Term B Facility and applicable order of priority set forth in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and Section 2.05;
(ii, (iiiii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly B-11 Lenders, on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with on the first such payment due and payable on December 31, 2013last Business Day of March 2016, an aggregate amount equal to 0.25% of the aggregate principal amount of all Term B-2 B-11 Loans outstanding on the Sixth Amendment Effective Date; provided that such payments of Term B-11 Loans shall be reduced as a result of the application of prepayments of Term B-11 Loans made by all Term B-2 Lenders under after the Sixth Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.01(e); provided, however, that 2.05;
(iv) for the final principal repayment installment ratable account of the Term B-2 Loans shall be due A-1 Lenders, on the last Business Day of each March, June, September and payable on December prior to the Maturity Date for the Term B-2 Facility and in any event shall be in A-1 Loans, commencing on the last Business Day of the first full fiscal quarter following the Term A-1 Incurrence Date, an aggregate amount equal to (w) on each such date occurring prior to the first anniversary of the Fifth Amendment Effective Date, 0.625% of the aggregate amount of all Term A-1 Loans outstanding on the Term A-1 Incurrence Date, (x) on each such date occurring on or after the first anniversary of the Fifth Amendment Effective Date but prior to the second anniversary of the Fifth Amendment Effective Date, 1.25% of the aggregate amount of all Term
A-1 Loans outstanding on the Term A-1 Incurrence Date, (y) on each such date occurring on or after the second anniversary of the Fifth Amendment Effective Date but prior to the third anniversary of the Fifth Amendment Effective Date, 1.875% of the aggregate amount of all Term A-1 Loans outstanding on the Term A-1 Incurrence Date and (z) on each such date occurring on or after the third anniversary of the Fifth Amendment Effective Date but prior to Maturity Date for the Term A-1 Loans, 2.5% of the aggregate amount of all Term A-1 Loans outstanding on the Term A-1 Incurrence Date; provided that such payments of Term A-Loans shall be reduced as a result of the application of prepayments of Term A-Loans made after the Term A-1 Incurrence Date in accordance with the applicable order of priority set forth in Section 2.05; and
(v) for the ratable account of the applicable Class of Term Lenders, on the Maturity Date for any Class of Term Loans, the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A B-9 Loans, commencing with the first such payment due Term B-10 Loans, Term B-11 Loans and payable on the first such date occurring after the First Amendment Closing DateTerm A-1 Loans, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % providedas applicable, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date.
Appears in 1 contract
Samples: Credit Agreement (West Corp)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Tranche G Term B Lenders quarterly (A) on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on last Business Day of June 30, 2013, an aggregate amount equal to 0.25% of the aggregate principal amount of all Tranche G Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that outstanding on the final principal repayment installment Refinancing Effective Date (which payments shall be reduced as a result of the Term B Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (B) on the Maturity Date for the Tranche G Term B Facility and in any event shall be in an amount equal to Loans, the aggregate principal amount of all Tranche G Term B Loans outstanding on such date and (ii, (ii) the Term B-2 Loans shall be due and payable, and the date. The Borrower shall repay to the Administrative Agent for the ratable account of the Tranche H Term B-2 Lenders quarterly (A) on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on last Business Day of December 31, 2013, an aggregate amount equal to 0.25% of the aggregate principal amount of all Tranche H Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that outstanding on the final principal repayment installment First Amendment Effective Date (which payments shall be reduced as a result of the Term B-2 Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (B) on the Maturity Date for the Tranche H Term B-2 Facility and in any event shall be in an amount equal to Loans, the aggregate principal amount of all Tranche H Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the date. The Borrower shall repay to the Administrative Agent for the ratable account of the Tranche I Term A Lenders quarterly (A) on the last Business Day of each month of March, June, September and December until December, commencing with the last Business Day of March 2016, an aggregate amount equal to 0.25% of the aggregate amount of all Tranche I Term Loans outstanding on the Second Amendment Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (B) on the Maturity Date for such the Tranche I Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Tranche I Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date.”
Appears in 1 contract
Samples: Second Amended and Restated Credit Agreement (Pinnacle Foods Inc.)
Term Loans. Subject The Borrower shall (A) repay to adjustment theeach Term LendersB Lender on the last day of each quarter an amount equal to (x) 0.25% of the aggregate principal amount of Term B Loans of such Term B Lender outstanding immediately after giving effect to Amendment No. 2 on March 25, 2013 plus (y) 0.251256291% of the aggregate principal amount of New Term B Loans of such Term B Lender outstanding immediately after giving effect to Amendment No. 3,on August 16, 2013, in each case which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, in each case, solely to the extent 2.04 or Section 2.17. For avoidance of any such amounts applied to the prepayment doubt as of the Term Loans, Amendment No. 32.17 and (iB) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the each Term B Lenders quarterly B-1 Lender on the last Business Day day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, quarter an amount equal to 0.25% of the aggregate principal amount of all Term B B-1 Loans made of such Term B-1 Lender that were outstanding on the Amendment No. 5 Effective Date. For avoidance of doubt as of August 16, 2013 this will result in the quarterly amortization payment to be shared by all Term B Lenders under being an aggregate of $2,291,579.85 subject to reduction as a result of future prepayments in accordance with the order of priority set forth in Section 2.01(a); provided, however, that the 2.04 or Section 2.17. The final principal repayment installment of the applicable Term B Loans shall be due and payable repaid on the Maturity Date for the thesuch Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (ii, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date. Notwithstanding the foregoing, the amortization and Maturity Date with respect to any Term Loans issued pursuant to Section 2.16 of this Agreement shall be as set forth in the applicable Joinder Agreement.
Appears in 1 contract
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on On the last Business Day of each month of March, June, September and December occurring until (commencing on December 31, 2015), each applicable Borrower shall repay the Maturity Date, commencing with Outstanding Amount of the first Domestic Term Loans (other than Other Incremental Term Loans) of such payment due and payable on June 30, 2013, an amount Borrower in installments equal to 0.25% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a)Loan Amortization Amount; provided, however, provided that the final principal repayment installment of the such Domestic Term B Loans shall be due and payable repaid on the Term Facility Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount Outstanding Amount of all such Domestic Term B Loans outstanding on such date and (ii, date.
(ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on On the last Business Day of each month of March, June, September and December occurring until the Maturity Date, (commencing with the first such payment due and payable on December 31, 20132015), an amount each applicable Borrower shall repay the Outstanding Amount of the Global Term Loans (other than Other Incremental Term Loans) of such Borrower in installments equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e)Loan Amortization Amount; provided, however, provided that the final principal repayment installment of the such Global Term B-2 Loans shall be due and payable repaid on the Term Facility Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount Outstanding Amount of all such Global Term B-2 Loans outstanding on such date and date.
(iii) In the event that any Other Incremental Term A Loans shall be due and payableare made, and the applicable Borrower shall repay to the Administrative Agent for the ratable account each Class of the Other Incremental Term A Lenders quarterly Loans on the last Business Day of each month of March, June, September dates and December until in the Maturity Date amounts set forth in the related Incremental Amendment for such class of Other Incremental Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, ; provided that the final principal repayment installment of the each such Class of Term A Loans shall be due and payable repaid on the Term Facility Maturity Date for the Term A Facility such Class and in any event shall be in an amount equal to the aggregate principal amount Outstanding Amount of all such Term A Loans outstanding of such Class on such date.
Appears in 1 contract
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of (i) the Initial Term B Lenders quarterly (A) on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on June 30, 2013last Business Day of September 2007, an aggregate amount equal to 0.25% of the aggregate principal amount of all Initial Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that outstanding on the final principal repayment installment Closing Date (which payments shall be reduced as a result of the Term B Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (B) on the Maturity Date for the Initial Term B Facility and in any event shall be in an amount equal to Loans, the aggregate principal amount of all Initial Term B Loans outstanding on such date and (ii, date; (ii) the Extending Initial Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly (A) on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on December 31, 2013last Business Day of June 2012, an aggregate amount equal to 0.25% of the aggregate principal amount of all Extended Initial Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that outstanding on the final principal repayment installment Restatement Date (which payments shall be reduced as a result of the Term B-2 Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (B) on the Maturity Date for the Extended Initial Term B-2 Facility and in any event shall be in an amount equal to Loans, the aggregate principal amount of all Extended Initial Term B-2 Loans outstanding on such date and date; (iii) the Tranche E Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly (A) on the last Business Day of each month of March, June, September and December until December, commencing with the last Business Day of June 2012, an aggregate amount equal to 0.25% of the aggregate amount of all Tranche E Term Loans outstanding on the Restatement Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (B) on the Maturity Date for such the Tranche E Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Tranche E Term A Loans made by outstanding on such date; and (iv) the Tranche F Term Lenders (A) on the last Business Day of each March, June, September and December, commencing with the last Business Day of September 2012, an aggregate amount equal to 0.25% of the aggregate amount of all Tranche F Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following Loans outstanding on the First Amendment Closing Effective Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment (which payments shall be reduced as a result of the Term A Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (B) on the Maturity Date for the Tranche F Term A Facility and in any event shall be in an amount equal to Loans, the aggregate principal amount of all Tranche F Term A Loans outstanding on such date.”
Appears in 1 contract
Term Loans. Subject The Borrowers shall repay to adjustment the Administrative Agent for (i) the ratable account of the Term Lenders holding each Class of Term B-4 Loans in Dollars on the last Business Day of each March, June, September and December, commencing with the second such date to occur after the Amendment No. 4 Effective Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of the Term B-4 Loans funded or converted on the Amendment No. 4 Effective Date and (ii) for the ratable account of the Term Lenders holding each class of Term A Loans in Dollars (i) on the last Business Date of each March, June, September and December, (A) commencing with the last Business Day of March 2020 until the third anniversary of the Incremental Amendment No. 4 Closing Date, an aggregate principal amount equal to 0.625% of the aggregate principal of Term A Loans funded on the Incremental Amendment No. 4 Closing Date and (B) thereafter, an aggregate principal amount equal to 1.25% of the aggregate principal of Term A Loans funded on the Incremental Amendment No. 4 Closing Date and (ii) on the Maturity Date for the Term A Loans, the aggregate principal amount of all Term A Loans outstanding on such date; provided that payments required by Sections 2.07(a)(i)(A) and 2.07(a)(ii)(A) above shall be reduced as a result of the application of prepayments in accordance with Section 2.05. In the event any Incremental Term Loans or Extended Term Loans are made, in each case, solely to the extent of any such amounts applied to the prepayment of the Incremental Term Loans or Extended Term Loans, (i) the Term B Loans as applicable, shall be due repaid by the Borrowers in the amounts and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last Business Day of each month of March, June, September dates set forth in the definitive documentation with respect thereto and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the applicable Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (ii, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such datethereof.
Appears in 1 contract
Samples: Credit Agreement (Restaurant Brands International Inc.)
Term Loans. Subject to adjustment as a result Each of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, Borrower and the Borrower shall Subsidiary Borrowers shall, jointly and severally, repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly (i) on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on June 30, 2013date to occur after the Amendment No. 2 Effective Date, an aggregate amount equal to 0.25% of the aggregate principal amount of all Term B B-2 Loans made by all Term B Lenders under Section 2.01(a); provided, however, that (which shall be allocated among them ratably in accordance with the final principal repayment installment Designated Amounts) outstanding on the Amendment No. 2 Effective Date (which payments shall be reduced as a result of the Term B Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (ii) on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (iiLoans, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) date. Each of the Term A Loans shall be due and payable, Borrower and the Borrower shall Subsidiary Borrowers shall, jointly and severally, repay to the Administrative Agent for the ratable account of the Incremental Term A B-3 Lenders quarterly (i) on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A LoansDecember, commencing with the first such payment due and payable on the first such date occurring to occur after the First Amendment Closing No. 3 Effective Date, an aggregate amount equal to one quarter of the following annual percentage reductions for each year set forth below 0.25% of the aggregate principal amount of all Incremental Term A B-3 Loans made by all Term A Lenders under Section 2.01(d): (which shall be allocated among them ratably in accordance with the Designated Amounts) outstanding on the Amendment No. 3 Effective Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment (which payments shall be reduced as a result of the Term A Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (ii) on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to Loans, the aggregate principal amount of all Incremental Term A B-3 Loans outstanding on such date. The portion of the repayment amount attributable to the Incremental Term B-3 Loans shall be subject to Section 2.16.”
Appears in 1 contract
Samples: Credit Agreement (West Corp)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders (A) with respect to the Initial Term B Lenders quarterly Loans, on the last Business Day of each month of March, June, September and December occurring until December, commencing with last Business Day of June 2019, an aggregate principal amount equal to $700,505.05 (which payments shall (x) be reduced as a result of the Maturity Dateapplication of prepayments in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.05(a)(v) and Section 10.07(l)) and (y) not be made with respect to Initial Term Loans that were prepaid pursuant to Section 2.05(a)(v)), (B) with respect to the 2020 Incremental Term Loans, on the last Business Day of each March, June, September and December, commencing with the first such payment due and payable on June 30, 2013last business day of March 2021, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all 2020 Incremental Term B Loans made by all Term B Lenders as of the Fourth Amendment Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.01(a2.05(a)(v) and Section 10.07(l); provided) and (C) with respect to all Initial Term Loans and 2020 Incremental Term Loans, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Initial Term B Facility Loans and in any event shall be in an amount equal to 2020 Incremental Term Loans, the aggregate principal amount of all Initial Term B Loans outstanding on such date and (ii, (ii) the 2020 Incremental Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date, together with accrued interest thereon. In connection with any Incremental Term Loans that constitute part of the same Class as the Initial Term Loans, the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Initial Term Loans comprising such Class continue to receive a payment that is not less than the same amount that such Term Lenders would have received absent the incurrence of such Incremental Term Loans; provided, that if such Incremental Term Loans are to be “fungible” with the Initial Term Loans, notwithstanding any other conditions specified in this Section 2.07(a), the amortization for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by the Borrower and the Administrative Agent to ensure that the Incremental Term Loans will be “fungible” with the Initial Term Loans.
Appears in 1 contract
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Term B B-1 Lenders, Term B-3 Lenders quarterly and Term B-4 Lenders (as applicable), on the last Business Day of each month of March, June, September and December occurring December, (x) commencing on the last Business Day of March 2008 until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013last Business Day of December 2010, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Term B B-1 Loans made by all outstanding on the Closing Date (the “Quarterly Amortization Amount”), (y) commencing on the last Business Day of March 2011 until the last Business Day of September 2012, (1) to the Term B Lenders under Section 2.01(a); providedB-1 Lenders, however, that the final principal repayment installment a percentage of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount Quarterly Amortization Amount equal to the aggregate principal amount percentage of all outstanding Term B B-1 Loans outstanding on such date the Restatement Effective Date not reclassified as Term B-3 Loans, and (ii2) to the Term B-3 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term B-1 Loans reclassified as Term B-3 Loans on the Restatement Effective Date and (z) commencing on the last Business Day of December 2012, (1) to the Term B-1 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term Loans on the Second Restatement Effective Date constituting Term B-1 Loans not reclassified as Term B-3 Loans or Term B-4 Loans, (2) to the Term B-3 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term Loans on the Second Restatement Effective Date constituting Term B-3 Loans and (3) to the Term B-4 Lenders, a percentage of the Quarterly Amortization Amount equal to the percentage of all outstanding Term Loans on the Second Restatement Effective Date constituting Term B-4 Loans (which payments described in this Section 2.07(a) shall be reduced with respect to each Class of Term Loans as a result of the application of prepayments, whether prior to or after the Second Restatement Effective Date, in accordance with the order of priority set forth in Section 2.05 or in connection with any Extension as provided in Section 2.16).
(ii) the Term B-2 Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Incremental Term B-2 Lenders quarterly Lenders, on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such next date after the Amendment No. 1 Effective Date on which a principal payment is due and payable on December 31under Section 2.07(a)(i) with respect to the Term B-1 Loans, 2013after giving effect to any prepayment of the Term B-1 Loans made prior to the Amendment No. 1 Effective Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Incremental Term B-2 Loans outstanding on such date and the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05 or in connection with any Extension as provided in Section 2.16).
(iii) the Term A Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly Appropriate Lenders, on the last Business Day of each month of March, June, September and December until the Maturity Date for such each Class of Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans such Class outstanding on such date.
Appears in 1 contract
Samples: Credit Agreement (Avaya Inc)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders (a) (x) with respect to the Closing Date Term B Lenders quarterly Loans, on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on June 30December 31, 20132019, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Closing Date Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date the Closing Date (in each case,and (ii, (iiy) the Term B-2 Loans shall be due and payable, and the Borrower shall repay with respect to the Administrative Agent for the ratable account of the 2020 Incremental Term B-2 Lenders quarterly Loans, on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on December 31June 30, 20132020, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all 2020 Incremental Term B-2 Loans made by all outstanding on the Amendment No. 1 Effective Date (after giving effect to the 2020 Incremental Term B-2 Lenders under Section 2.01(eLoans pursuant to Amendment No. 1) (which payments, in the case of each of clauses (x) and (y); provided, however, that the final principal repayment installment shall be reduced as a result of the Term B-2 Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (b) on the Maturity Date for the Closing Date Term B-2 Facility Loans and in any event shall be in an amount equal to 2020 Incremental Term Loans, the aggregate principal amount of all Closing Date Term B-2 Loans outstanding on such date and (iii) the 2020 Incremental Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Daterespectively, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date. In connection with any Incremental Term Loans that constitute part of the same Class as the Closing Dateany existing Class of Term Loans, the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Closing Date Term Loans comprising part of such Class continue to receive a payment that is not less than the same Dollar amount that such Term Lenders would have received absent the incurrence of such Incremental Term Loans; provided, that if such Incremental Term Loans are to be “fungible” with the Closing Dateany existing Class of Term Loans, notwithstanding any other conditions specified in this Section 2.07(1), the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by Borrower and the Administrative Agent to provide that the Incremental Term Loans will be (or will be deemed to be) “fungible” with the Closing Dateapplicable existing Class of Term Loans.
Appears in 1 contract
Samples: First Lien Credit Agreement (Convey Holding Parent, Inc.)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the Borrower The Borrowers shall repay to the Administrative Agent for the ratable account of the applicable Term B Lenders (a) the aggregate outstanding principal amount of the Closing Date Term Loans and Second Amendment Term Loans in quarterly installments payable on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on June 30December 31, 2013, in an amount equal to (x) on each such date occurring on or prior to the Maturity Date of the Closing Date Term Loans and Second Amendment Term Loans, 0.25% of the sum of the aggregate principal amount of all the Closing Date Term B Loans made by all and Second Amendment Term B Lenders under Loans outstanding on the Second Amendment Effective Date and (y) the balance on the Maturity Date of the Closing Date Term Loans and Second Amendment Term Loans, which amount, in each case, shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.01(a)2.05; provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable repaid on the Maturity Date for the Closing Date Term B Facility Loans and Second Amendment Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all the Closing Date Term B Loans and Second Amendment Term Loans outstanding on such date and (ii, (iib) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account aggregate outstanding principal amount of the Third Amendment Term B-2 Lenders Loans in quarterly installments payable on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on December 31, 20132014, in an amount equal to (x) on each such date occurring on or prior to the Maturity Date of the Third Amendment Term Loans, 0.25% of the sum of the aggregate principal amount of all the Third Amendment Term B-2 Loans made by all outstanding on the Third Amendment Effective Date and (y) the balance on the Maturity Date of the Third Amendment Term B-2 Lenders under Loans, which amount, in each case, shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.01(e)2.05; provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable repaid on the Maturity Date for the Third Amendment Term B-2 Facility Loans and in any event shall be in an amount equal to the aggregate principal amount of all the Third Amendment Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date.”
Appears in 1 contract
Samples: Credit Agreement (Sensata Technologies Holding N.V.)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, in each case, 2.05 solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last Business Day of each month of MarchFebruary, JuneMay, September August and December November occurring until the Maturity DateDate with respect to the Term Facility, commencing with the first such payment due and payable date on June 30August 31, 20132015, an amount equal to 0.252.50% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a), unless accelerated sooner pursuant to Section 8.02; provided, however, that (i) the final principal repayment installment of the Term B Loans shall be due and payable repaid on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (ii) (A) if any principal repayment installment to be made by the Borrower (other than principal repayment installments on Eurocurrency Rate Loans) shall come due on a day other than a Business Day, (ii) the Term B-2 Loans such principal repayment installment shall be due and payableon the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September case may be and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final (B) if any principal repayment installment to be made by the Borrower on a Eurocurrency Rate Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the result of the Term B-2 Loans such extension would be to extend such principal repayment installment into another calendar month, in which event such principal repayment installment shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last immediately preceding Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such dateDay.
Appears in 1 contract
Samples: Credit Agreement (Team Inc)
Term Loans. Subject The Borrower shall repay to adjustment the Term Lenders the aggregate principal amount of all Term Loans outstanding, in the following amounts: (i) commencing at the end of the first full Fiscal Quarter ending after the Closing DateFifth Amendment Effective Date, in quarterly installments equal to 0.625% of the initial aggregate principal amount of the Term Loans outstanding on the Fifth Amendment Effective Date and (ii) commencing at the end of the Fiscal Quarter ending June 30, 2024, in quarterly installments equal to 1.25% of the initial aggregate principal amount of the Term Loans and (ii) commencing at the end of the Fiscal Quarter ending June 30, 2021, in quarterly installments equal to 1.875% of the initial aggregate principal amount of the Term Loansoutstanding on the Fifth Amendment Effective Date (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), in each caseunless accelerated sooner pursuant to Section 8.02; provided, solely to the extent of any such amounts applied to the prepayment of the Term Loans, that,
(i) the Term B Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable repaid on the Maturity Date for the Term B Facility and and, in any event event, shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date and (ii, (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and (iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A Loans shall be due and payable on the Maturity Date for the Term A Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term A Loans outstanding on such date; and
(ii) (A) if any principal repayment installment to be made by the Borrower (other than principal repayment installments on Eurodollar RateTerm SOFR Loans) shall come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; and
(A) if any principal repayment installment to be made by the Borrower on a Eurodollar RateTerm SOFR Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day, unless the result of such extension would be to extend such principal repayment installment 1204724.01-CHISR02A - MSW CHAR1\1886837v5 into another calendar month, in which event, such principal repayment installment shall be due on the immediately preceding Business Day.
Appears in 1 contract
Samples: Credit Agreement (SP Plus Corp)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders (a) (x) with respect to the Closing Date Term B Lenders quarterly Loans, (A) prior to the Amendment No. 2 Effective Date, on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on June 30December 31, 20132019, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Closing Date Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B Loans outstanding on such date the Closing Date and (ii, B) after the Amendment No. 2 Effective Date (ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay after giving effect to the Administrative Agent for the ratable account borrowing of the 2021 Incremental Term B-2 Lenders quarterly Loans pursuant to Amendment No. 2), on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on December March 31, 20132021, an aggregate principal amount equal to $759,968.35 and, (y) with respect to the 2020 Incremental Term Loans, on the last Business Day of each March, June, September and December, commencing with June 30, 2020, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all 2020 Incremental Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date the Amendment No. 1 Effective Date (after giving effect to the 2020 Incremental Term Loans pursuant to Amendment No. 1), and (iiiz) the Term A Loans shall be due and payable, and the Borrower shall repay with respect to the Administrative Agent for the ratable account of the 2022 Incremental Term A Lenders quarterly Loans, on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A LoansDecember, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing DateJune 30, 2022, an aggregate principal amount equal to one quarter of the following annual percentage reductions for each year set forth below 0.25% of the aggregate principal amount of all 2022 Incremental Term A Loans made by all outstanding on the Amendment No. 5 Effective Date (after giving effect to the 2022 Incremental Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For Loans pursuant to Amendment No. 5) (which payments, in the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % providedcase of each of clauses (x) and ,(y) and (z), however, that the final principal repayment installment shall be reduced as a result of the Term A Loans shall be due application of prepayments in accordance with the order of priority set forth in Section 2.05) and payable (b) on the Maturity Date for the Closing Date Term A Facility Loans and, 2020 Incremental Term Loans and in any event shall be in an amount equal to 2022 Incremental Term Loans, the aggregate principal amount of all Closing Date Term A Loans and, 2020 Incremental Term Loans and 2022 Incremental Term Loans, respectively, outstanding on such date. In connection with any Incremental Term Loans that constitute part of the same Class as any existing Class of Term Loans, the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Term Loans comprising part of such Class continue to receive a payment that is not less than the same Dollar amount that such Term Lenders would have received absent the incurrence of such Incremental Term Loans; provided, that if such Incremental Term Loans are to be “fungible” with any existing Class of Term Loans, notwithstanding any other conditions specified in this Section 2.07(1), the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by Borrower and the Administrative Agent to provide that the Incremental Term Loans will be (or will be deemed to be) “fungible” with the applicable existing Class of Term Loans.
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Samples: First Lien Credit Agreement (Convey Health Solutions Holdings, Inc.)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (i) Subject to the terms and conditions set forth herein and in the Ancillary Agreements, Laurus shall make a term loan (the "Closing Date Term B Loans Loan") to Company and the Eligible Subsidiaries in an aggregate amount equal to $6,000,000. The Closing Date Term Loan shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly advanced on the last Business Day Closing Date and shall be, with respect to principal, payable in consecutive monthly installments of principal commencing on July 1, 2005 and on the first day of each month thereafter, subject to acceleration upon the occurrence of March, June, September and December occurring until an Event of Default or termination of this Agreement. The first twenty-eight principal installments shall each be in the Maturity Date, commencing with the first such payment due and payable on June 30, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that $206,896 and the twenty-ninth and final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate unpaid principal amount balance of the Closing Date Term Loan plus all accrued and unpaid interest thereon. The Closing Date Term B Loans outstanding on such date and (ii, Loan shall be evidenced by the Closing Date Secured Convertible Term Note.
(ii) Subject to the terms and conditions set forth herein and in the Ancillary Agreements, Laurus shall make a term loan (the "Second Term B-2 Loans Loan") to Company and the Eligible Subsidiaries in an aggregate amount equal to $1,900,000. The Second Term Loan shall be due advanced on February 28, 2005 and payableshall be, with respect to principal, payable in consecutive monthly installments of principal commencing on July 1, 2005 and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day first day of each month thereafter, subject to acceleration upon the occurrence of March, June, September and December occurring until an Event of Default or termination of this Agreement. The first twenty-eight principal installments shall each be in the Maturity Date, commencing with the first such payment due and payable on December 31, 2013, an amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that $65,517 and the twenty-ninth and final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Date for the Term B-2 Facility and in any event shall be in an amount equal to the unpaid principal balance of the Second Term Loan plus all accrued and unpaid interest thereon. The Second Term Loan shall be evidenced by the Second Secured Convertible Term Note.
(iii) Subject to the terms and conditions set forth herein and in the Ancillary Agreements, Laurus shall make a term loan (the "Third Term Loan") to Company and the Eligible Subsidiaries in an aggregate amount equal to $4,640,000. The Third Term Loan shall be advanced on January 6, 2006 and shall be payable in full together with all accrued and unpaid interest thereon and all other amounts due and owing with respect thereto, subject to acceleration upon the occurrence of an Event of Default or termination of this Agreement, upon the earlier of (A) July 6, 2006 and (B) the consummation of any offering of Xxxxxx Equipment's Common Stock to a Person other than Laurus. The Third Term Loan shall be evidenced by the Third Term Note.
(iv) Subject to the terms and conditions set forth herein and in the Ancillary Agreements, Laurus shall make a term loan (the "Fourth Term Loan" and together with the Closing Date Term Loan, the Second Term Loan and the Third Term Loan, each a "Term Loan" and collectively the "Term Loans") to Company and the Eligible Subsidiaries in an aggregate amount equal to $8,500,000. The Fourth Term Loan shall be advanced on May 12, 2006 and shall be, with respect to principal, payable in consecutive monthly installments of principal in the amounts set forth in the Fourth Term Note commencing on September 1, 2006 and on the first day of each month thereafter, subject to acceleration upon the occurrence of an Event of Default or termination of this Agreement. The Fourth Term Loan shall be evidenced by the Fourth Term Note. Notwithstanding anything herein to the contrary, Laurus may, in its sole discretion, increase the principal amount of the Fourth Term Loan, from time to time following Company Agent's request therefor, by additional amounts not to exceed $6,500,000 in the aggregate in accordance with and pursuant to the terms of that certain side letter dated May 12, 2006 from Laurus to Company and the Eligible Subsidiaries and all Term B-2 Loans outstanding on such date amounts so provided by Laurus to Company and (iii) the Term A Loans Eligible Subsidiaries shall be due and payable, and deemed Obligations hereunder secured by the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A Loans, commencing with the first such payment due and payable on the first such date occurring after the First Amendment Closing Date, an amount equal to one quarter of the following annual percentage reductions for each year set forth below of the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % Collateral; provided, however, that the final principal repayment installment of the Term A Loans nothing contained herein shall be due and payable on the Maturity Date for the Term A Facility and in deemed a commitment by Laurus to extend any event shall be in an amount equal such additional financial accommodations to the aggregate principal amount of all Term A Loans outstanding on such dateCompany or any Eligible Subsidiary."
Appears in 1 contract
Samples: Security and Purchase Agreement (Thomas Equipment, Inc.)
Term Loans. Subject to adjustment as a result of the application of prepayments in accordance with Section 2.05, in each case, solely to the extent of any such amounts applied to the prepayment of the Term Loans, (ia) the Term B Loans shall be due and payable, and the The Borrower shall repay to the Administrative Agent for the ratable account of the Term B Lenders quarterly Appropriate Lenders:
(i) on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on June September 30, 20132020, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Closing Date Term B Loans made by all Term B Lenders under Section 2.01(a); provided, however, that the final principal repayment installment of the Term B Loans shall be due and payable on the Maturity Date for the Term B Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B B-1 Loans outstanding on such date and the Closing Date (ii, which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05);
(ii) the Term B-2 Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders quarterly on the last Business Day of each month of March, June, September and December occurring until the Maturity DateDecember, commencing with the first such payment due and payable on December 31September 30, 20132020, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Term B-2 Loans made by all Term B-2 Lenders under Section 2.01(e); provided, however, that the final principal repayment installment of the Term B-2 Loans shall be due and payable on the Maturity Closing Date for the Term B-2 Facility and in any event shall be in an amount equal to the aggregate principal amount of all Term B-2 Loans outstanding on such date and the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05);
(iii) the Term A Loans shall be due and payable, and the Borrower shall repay to the Administrative Agent for the ratable account of the Term A Lenders quarterly on the last Business Day of each month of March, June, September and December until the Maturity Date for such Term A LoansDecember, commencing with the first such payment due and payable on the first such date occurring full fiscal quarter after the First Amendment Closing Dateinitial funding date thereof, an aggregate principal amount equal to one quarter 0.25% of the following annual percentage reductions for each year initially funded aggregate principal amount of all Delayed Draw Term B-1 Loans (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth below in Section 2.05);
(iv) on the last Business Day of each March, June, September and December, commencing with the first full fiscal quarter after the initial funding date thereof, an aggregate principal amount equal to 0.25% of the initially funded aggregate principal amount of all Delayed Draw Term B-2 Loans (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05);
(v) on the Maturity Date for the Closing Date Term B-1 Loans and Delayed Draw Term B-1 Loans, the aggregate principal amount of all Term A Loans made by all Term A Lenders under Section 2.01(d): Date Annual Percentage Reduction For the first year following the First Amendment Closing Date 0 % For the second year following the First Amendment Closing Date 5 % For the third year following the First Amendment Closing Date 7 % For the fourth year following the First Amendment Closing Date 10 % For the fifth year following the First Amendment Closing Date 10 % provided, however, that the final principal repayment installment of the Term A B-1 Loans shall be due and payable Delayed Draw Term B-1 Loans outstanding on such date; and
(vi) on the Maturity Date for the Closing Date Term A Facility B-2 Loans and in any event shall be in an amount equal to the Delayed Draw Term B-2 Loans, the aggregate principal amount of all Closing Date Term A B-2 Loans and Delayed Draw Term B-2 Loans outstanding on such date.
(b) In connection with any Incremental Term Loans that constitute part of the same Class as either (i) the Closing Date Term B-1 Loans and the Delayed Draw Term B- 1 Loans or (ii) the Closing Date Term B-2 Loans and the Delayed Draw Term B-2 Loans, the Borrower and the Administrative Agent shall be permitted to adjust the rate of repayment in respect of such Class such that the Term Lenders holding the applicable Closing Date Term Loans and Delayed Draw Term Loans comprising part of the applicable Class continue to receive a payment that is not less than the same Dollar amount that the applicable Term Lenders would have received absent the incurrence of such Incremental Term Loans; provided, that if such Incremental Term Loans are to be “fungible” with the applicable Class of Closing Date Term Loans notwithstanding any other conditions specified in this Section 2.07(1), the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by Borrower, the Administrative Agent and the AAL Last Out Representative to provide that the Incremental Term Loans will be (or will be deemed to be) “fungible” with the applicable Class of Closing Date Term Loans. Upon the funding of any Delayed Draw Term Loan, notwithstanding any other conditions specified in this Section 2.07(1), the amortization schedule for such Delayed Draw Term Loan may provide for amortization in such other percentage(s) to be agreed by the Borrower, the Administrative Agent and the AAL Last Out Representative to provide that the Delayed Draw Term Loans will be (or will be deemed to be) “fungible” with the applicable Class of Closing Date Term Loans.
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