The Term A Loans. (i) Subject to the terms and conditions set forth herein, at any time after the First Amendment Closing Date and during the Term A Availability Period, the Term A Commitment of each Term A Lender may be increased or decreased one time pursuant to a Permitted Term A Reallocation by the Borrower between the Term A Commitment, the Nexstar Term A Commitment and the Rocky Creek Loan, if any, of each Term A Lender. If the Permitted Term A Reallocation increases the Term A Commitment, it shall be limited to a reallocation of all or any portion of the $94,000,000 Nexstar Term A Commitment (after taking into account the initial $50,000,000 in Nexstar Term A Loans made on the Nexstar First Amendment Closing Date) that is available after the Nexstar First Amendment Closing Date, in accordance with the provisions of Section 2.01(d)(ii) of the Nexstar Credit Agreement and in accordance with the Term A Reallocation Letter (such reallocated amount, the "Reallocated Term A Commitment Amount"). In connection with any Permitted Term A Reallocation, at the request of the Administrative Agent or any Term A Lender, the Borrower shall execute and deliver to the Administrative Agent replacement Term A Notes in an amount equal to each Term A Lender's Term A Commitment as adjusted in accordance with the terms of the Term A Reallocation Letter. (ii) Subject to the terms and conditions of Section 4.02 and Section 4.03 set forth herein, each Term A Lender severally agrees to make one Term A Loan to the Borrower on any Business Day during the Term A Availability Period, in an aggregate principal amount equal to such Term A Lender's Applicable Term A Percentage of the Reallocated Term A Commitment Amount. Such Term A Borrowing shall consist of Term A Loans made simultaneously by the Term A Lenders in accordance with their respective Term A Commitments. Amounts borrowed under this Section 2.01(d)(ii) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein. After the expiration of the Term A Availability Period, no Lender shall be obligated to make any Term A Loan.
Appears in 2 contracts
Samples: Credit Agreement (Nexstar Broadcasting Group Inc), Credit Agreement (Nexstar Broadcasting Group Inc)
The Term A Loans. (i) Subject to the terms and conditions set forth herein, ,
(i) each Term A Lender severally agrees to make an initial Term A Loan to the Borrower on the First Amendment Closing Date in an aggregate principal amount equal to such Term A Lender’s Applicable Term A Percentage of $50,000,000. The Term A Borrowing shall consist of Term A Loans made simultaneously by the Term A Lenders in accordance with their respective Term A Commitments. Amounts borrowed under this Section 2.01(d)(i) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein; and
(ii) at any time after the First Amendment Closing Date and during the Term A Availability Period, the Term A Commitment of each Term A Lender may be increased or decreased one time pursuant to a Permitted Term A Reallocation by the Borrower between the Term A Commitment, the Nexstar Mission Term A Commitment and the Rocky Creek Loan, if any, of each Term A Lender. If the Permitted Term A Reallocation increases the Term A Commitment, it shall be limited to a reallocation of all or any portion of the $94,000,000 Nexstar 90,000,000 Mission Term A Commitment (after taking into account the initial $50,000,000 in Nexstar Term A Loans made on the Nexstar First Amendment Closing Date) that is available after the Nexstar Mission First Amendment Closing Date, Date in accordance with the provisions of Section 2.01(d)(ii) of the Nexstar Mission Credit Agreement and in accordance with the Term A Reallocation Letter (such reallocated amount, the "“Reallocated Term A Commitment Amount"”). In connection with any Permitted Term A Reallocation, at the request of the Administrative Agent or any Term A Lender, the Borrower shall execute and deliver to the Administrative Agent replacement Term A Notes in an amount equal to each Term A Lender's ’s Term A Commitment as adjusted in accordance with the terms of the Term A Reallocation Letter.
(ii) . Subject to the terms and conditions of Section 4.02 and Section 4.03 set forth herein, each Term A Lender severally agrees to make one subsequent Term A Loan to the Borrower on any Business Day during the Term A Availability Period, in an aggregate principal amount equal to such Term A Lender's ’s Applicable Term A Percentage of the Reallocated Term A Commitment Amount. Such subsequent Term A Borrowing shall consist of Term A Loans made simultaneously by the Term A Lenders in accordance with their respective Term A Commitments. Amounts borrowed under this Section 2.01(d)(ii) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein. After the expiration of the Term A Availability Period, no Lender shall be obligated to make any Term A Loan.
Appears in 2 contracts
Samples: Credit Agreement (Mission Broadcasting Inc), Credit Agreement (Nexstar Broadcasting Group Inc)
The Term A Loans. (i) Subject to the terms and conditions set forth herein, at any time after the First Amendment Closing Date and during the Term A Availability Period, the Term A Commitment of each Term A Lender may be increased or decreased one time pursuant to a Permitted Term A Reallocation by the Borrower between the Term A Commitment, the Nexstar Term A Commitment and the Rocky Creek Loan, if any, of each Term A Lender. If the Permitted Term A Reallocation increases the Term A Commitment, it shall be limited to a reallocation of all or any portion of the $94,000,000 Nexstar Term A Commitment (after taking into account the initial $50,000,000 in Nexstar Term A Loans made on the Nexstar First Amendment Closing Date) that is available after the Nexstar First Amendment Closing Date, in accordance with the provisions of Section 2.01(d)(ii) of the Nexstar Credit Agreement and in accordance with the Term A Reallocation Letter (such reallocated amount, the "“Reallocated Term A Commitment Amount"”). In connection with any Permitted Term A Reallocation, at the request of the Administrative Agent or any Term A Lender, the Borrower shall execute and deliver to the Administrative Agent replacement Term A Notes in an amount equal to each Term A Lender's ’s Term A Commitment as adjusted in accordance with the terms of the Term A Reallocation Letter.
(ii) Subject to the terms and conditions of Section 4.02 and Section 4.03 set forth herein, each Term A Lender severally agrees to make one Term A Loan to the Borrower on any Business Day during the Term A Availability Period, in an aggregate principal amount equal to such Term A Lender's ’s Applicable Term A Percentage of the Reallocated Term A Commitment Amount. Such Term A Borrowing shall consist of Term A Loans made simultaneously by the Term A Lenders in accordance with their respective Term A Commitments. Amounts borrowed under this Section 2.01(d)(ii) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein. After the expiration of the Term A Availability Period, no Lender shall be obligated to make any Term A Loan.
Appears in 2 contracts
Samples: Credit Agreement (Mission Broadcasting Inc), Credit Agreement (Nexstar Broadcasting Group Inc)
The Term A Loans. (i) Subject to the terms and conditions set forth herein, ,
(i) each Term A Lender severally agrees to make an initial Term A Loan to the Borrower on the First Amendment Closing Date in an aggregate principal amount equal to such Term A Lender's Applicable Term A Percentage of $50,000,000. The Term A Borrowing shall consist of Term A Loans made simultaneously by the Term A Lenders in accordance with their respective Term A Commitments. Amounts borrowed under this Section 2.01(d)(i) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein; and
(ii) at any time after the First Amendment Closing Date and during the Term A Availability Period, the Term A Commitment of each Term A Lender may be increased or decreased one time pursuant to a Permitted Term A Reallocation by the Borrower between the Term A Commitment, the Nexstar Mission Term A Commitment and the Rocky Creek Loan, if any, of each Term A Lender. If the Permitted Term A Reallocation increases the Term A Commitment, it shall be limited to a reallocation of all or any portion of the $94,000,000 Nexstar 90,000,000 Mission Term A Commitment (after taking into account the initial $50,000,000 in Nexstar Term A Loans made on the Nexstar First Amendment Closing Date) that is available after the Nexstar Mission First Amendment Closing Date, Date in accordance with the provisions of Section 2.01(d)(ii) of the Nexstar Mission Credit Agreement and in accordance with the Term A Reallocation Letter (such reallocated amount, the "Reallocated Term A Commitment Amount"). In connection with any Permitted Term A Reallocation, at the request of the Administrative Agent or any Term A Lender, the Borrower shall execute and deliver to the Administrative Agent replacement Term A Notes in an amount equal to each Term A Lender's Term A Commitment as adjusted in accordance with the terms of the Term A Reallocation Letter.
(ii) . Subject to the terms and conditions of Section 4.02 and Section 4.03 set forth herein, each Term A Lender severally agrees to make one subsequent Term A Loan to the Borrower on any Business Day during the Term A Availability Period, in an aggregate principal amount equal to such Term A Lender's Applicable Term A Percentage of the Reallocated Term A Commitment Amount. Such subsequent Term A Borrowing shall consist of Term A Loans made simultaneously by the Term A Lenders in accordance with their respective Term A Commitments. Amounts borrowed under this Section 2.01(d)(ii) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein. After the expiration of the Term A Availability Period, no Lender shall be obligated to make any Term A Loan.
Appears in 2 contracts
Samples: Credit Agreement (Nexstar Broadcasting Group Inc), Credit Agreement (Nexstar Broadcasting Group Inc)
The Term A Loans. (i) Subject On each Business Day occurring on or prior to the terms and conditions set forth herein, at any time after the First Amendment Closing Date and during the Term A Availability PeriodLoan Commitment Termination Date, the each Lender that has a Term A Loan Commitment of each will severally and not jointly make loans (relative to such Lender, its "Term A Lender may be increased or decreased one time pursuant Loans") to a Permitted Foamex equal to such Lender's Pro Rata Share of the aggregate amount of the Borrowing of Term A Reallocation loans requested by the Borrower between the Term A Commitment, the Nexstar Term A Commitment and the Rocky Creek Loan, if any, Foamex to be made on such day. Each Borrowing of each Term A Lender. If the Permitted Term A Reallocation increases the Term A Commitment, it shall be limited to a reallocation of all or any portion of the $94,000,000 Nexstar Term A Commitment (after taking into account the initial $50,000,000 in Nexstar Term A Loans made on the Nexstar First Amendment Closing Date) that is available after the Nexstar First Amendment Closing DateEffective Date shall (i) be in a minimum principal amount of $2,500,000 or, if less, the remaining Term A Loan Commitment Amount and (ii) be accompanied by a written statement from Foamex describing in accordance with reasonable detail the provisions of Section 2.01(d)(ii) terms of the Nexstar Credit Agreement and Delayed Purchase being financed by the proceeds of such Borrowing. Promptly after receipt of a Term Notice of Borrowing under Section 2.04(c) (or telephonic notice in accordance with the Term A Reallocation Letter (such reallocated amountlieu thereof), the "Reallocated Term A Commitment Amount"). In connection with any Permitted Term A ReallocationFunding Agent shall notify each Lender by telex or telecopy, at the request or other similar form of transmission, of the Administrative Agent or any Term A Lender, the Borrower proposed Borrowing. Each Lender shall execute and deliver to the Administrative Agent replacement Term A Notes in deposit an amount equal to each its Pro Rata Share of the amount requested by Foamex specified in such Term Notice of Borrowing to be made as Term A LenderLoans with the Funding Agent at its office in New York, New York, in immediately available funds, not later than 11:00 a.m. (New York time) on any Funding Date applicable thereto. Subject to the fulfillment of the condition precedent set forth in Section 5.02, the Funding Agent shall, make the proceeds of such amounts received by it available to Foamex at the Funding Agent's Term A Commitment as adjusted office in New York, New York on such Funding Date (or on the date received if later than such Funding Date) and shall disburse such proceeds in accordance with Foamex's disbursement instructions set forth in the terms applicable Notice of Borrowing. The failure of any Lender to deposit the amount described above with the Funding Agent on the applicable Funding Date shall not relieve any other Lender of its obligations hereunder to make its Term A Reallocation LetterLoan on such Funding Date.
(ii) Subject to Unless the terms and conditions of Section 4.02 and Section 4.03 set forth herein, each Term A Funding Agent shall have been notified by any Lender severally agrees to make one Term A Loan to on the Borrower on any Business Day during immediately preceding the Term A Availability Period, applicable Funding Date in an aggregate principal amount equal to such Term A Lender's Applicable Term A Percentage respect of the Reallocated Term A Commitment Amount. Such Term A any Borrowing shall consist of Term A Loans that such Lender does not intend to fund its Term A Loan requested to be made simultaneously by on such Funding Date, the Funding Agent may assume that such Lender has funded its Term A Loan and is depositing the proceeds thereof with the Funding Agent on the Funding Date, and the Funding Agent in its sole discretion may, but shall not be obligated to, disburse a corresponding amount to Foamex specified in the applicable Notice of Borrowing on the Funding Date. If the Term A Lenders Loan proceeds corresponding to that amount are advanced to Foamex by the Funding Agent but are not in accordance fact deposited with their respective Term A Commitmentsthe Funding Agent by such Lender on or prior to the applicable Funding Date, such Lender agrees to pay, and in addition Foamex agrees to repay, to the Funding Agent forthwith on demand such corresponding amount, together with interest thereon, for each day from the date such amount is disbursed to or for the benefit of Foamex until the date such amount is paid or repaid to the Funding Agent, in the case of Foamex or such Lender, at the interest rate applicable to such Borrowing. Amounts borrowed under this Section 2.01(d)(ii) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans as further provided herein. After the expiration of the Term A Availability Period, no If such Lender shall be obligated pay to make any the Funding Agent the corresponding amount, the amount so paid shall constitute such Lender's Term A Loan, and if both such Lender and Foamex shall pay and repay such corresponding amount, the Funding Agent shall promptly pay to Foamex such corresponding amount. This Section 2.04(a)(ii) does not relieve any Lender of its obligation to make its Loan on any Funding Date; nor does this Section relieve Foamex of its obligation to pay or repay any Lender funding its Term A Loan pursuant to this Section interest on such Term A Loan from such Funding Date until the date on which such Loan is repaid in full.
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