Common use of Term Notes; Payments Clause in Contracts

Term Notes; Payments. (a) Subject to the provisions of Section 10.12 hereof relating to replacement and substitution of the Term Notes, the Term Loan made by a Lender shall be evidenced by a single Term Note dated as of the Closing Date, delivered and payable to such Lender in a principal amount equal to such Lender’s Term Loan Commitment as of the Closing Date. (b) If not earlier prepaid in full, and to the extent permitted by Section 7.11(f) of the Revolving Credit Agreement, the aggregate principal balance of the Term Loans, as evidenced by the Term Notes, shall be due and payable in quarterly installments of $112,500, each due on each September 30, December 31, March 31, and June 30 of each calendar year, commencing on September 30, 2007. To the extent not previously paid, the aggregate outstanding principal balance of the Term Loans shall be finally due and payable on the Term Loan Maturity Date. (c) Subject to Section 10.6 hereof, the Borrower hereby agrees to pay accrued interest on the unpaid principal balance of the Term Loans on the Interest Payment Dates, commencing with the first of such dates to occur after the date hereof. After the Term Loan Maturity Date, accrued and unpaid interest on the Term Loans shall be payable on demand.

Term Notes; Payments. (a) Subject to the provisions of Section 10.12 hereof relating to replacement and substitution of the Term Notes, the Term Loan made by a Lender shall be evidenced by a single Term Note dated as of the Closing Date, delivered and payable to such Lender in a principal amount equal to such Lender’s Term Loan Commitment as of the Closing Date. (b) If not earlier prepaid in full, and to the extent permitted by Section 7.11(f) of the Revolving Credit Agreement, the aggregate principal balance of the Term Loans, as evidenced by the Term Notes, shall be due and payable in quarterly installments of $112,500, each due on each September 30, December 31, March 31, and June 30 of each calendar year, commencing on September 30, 20072006. To the extent not previously paid, the aggregate outstanding principal balance of the Term Loans shall be finally due and payable on the Term Loan Maturity Date. (c) Subject to Section 10.6 hereof, the Borrower hereby agrees to pay accrued interest on the unpaid principal balance of the Term Loans on the Interest Payment Dates, commencing with the first of such dates to occur after the date hereof. After the Term Loan Maturity Date, accrued and unpaid interest on the Term Loans shall be payable on demand.