The Term Loan Clause Samples
POPULAR SAMPLE Copied 1 times
The Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, the Lenders previously made available to Borrower certain term loans, including the Restatement Effective Date Term Loan and the Third Amendment Term Loan, of which $23,750,000 remains outstanding as of the Fourth Amendment Effective Date.
(ii) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein and in the Fourth Amendment, on the Fourth Amendment Effective Date, each Lender with a Fourth Amendment Term Loan Commitment severally and not jointly agrees to lend to the Borrower on the Fourth Amendment Effective Date, the amount set forth opposite such Lender’s name in Schedule 1.1(a) under the heading “Fourth Amendment Term Loan Commitment” (such amount being referred to herein as such Lender’s “Fourth Amendment Term Loan Commitment”). Amounts borrowed under this subsection 1.1(a)(ii) are referred to as the “Fourth Amendment Term Loan” and, together with the Restatement Effective Date Term Loan and the Third Amendment Effective Date Term Loan, are sometimes referred to herein, collectively, as the “Term Loan.” No amount of the Term Loan which is repaid or prepaid may be reborrowed. Each Lender shall be deemed to have assigned and/or purchased, as necessary, any and all amounts in respect of the Term Loan in order to accurately reflect its appropriate percentage of the outstanding Term Loan as set forth on Schedule 1.1(a).
The Term Loan. On the terms and conditions set forth in the MLA and this Promissory Note and Supplement, CoBank agrees to make a loan to the Company in an amount not to exceed $20,000,000.00 (the “Commitment”). The Commitment shall expire at 12:00 noon (Company’s local time) on January 30, 2012, or on such later date as CoBank may, in its sole discretion, authorize in writing.
The Term Loan. 24 4.1. Commitment to Lend. .................................................................24 4.2. The Term Notes. .....................................................................24 4.3. Repayments of the Term Loan. ........................................................25 4.3.1 Schedule of Installment Payments of Principal of Term Loan. ...............25 4.3.2 Proceeds. .................................................................25 4.4. Optional Prepayment of Term Loan. ...................................................25 4.5. Interest on Term Loan. ..............................................................25 4.5.1. Interest Rates. ..........................................................25 4.5.2. Notification by Borrower. ................................................26 4.5.3. Amounts, etc. ............................................................26 5.
The Term Loan. Subject to the terms and conditions set forth herein, the Lender agrees to make a single loan to the Borrower on the Closing Date in an aggregate principal amount equal to $25,000,000 (the “Term Loan”). Amounts borrowed under this Paragraph 1(a) and repaid or prepaid may not be reborrowed.
The Term Loan. (i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, each Lender with a Term Loan Commitment severally and not jointly agrees to lend to the Borrower on the Closing Date, the amount set forth opposite such Lender’s name in Schedule 1.1(a) under the heading “Term Loan Commitment” (such amount being referred to herein as such Lender’s “Term Loan Commitment”). Amounts borrowed under this Section 1.1(a) are referred to as the “Term Loan”.
(ii) The initial Term Loan and the Incremental Term Loans are sometimes referred to individually as a “Term Loan” and together as the “Term Loans”. Amounts borrowed as the Term Loans which are repaid or prepaid may not be reborrowed.
The Term Loan. The Term Loan shall be repayable as set forth in Section 2.4. If prepaid or repaid, the principal of the Term Loan may not be re-borrowed. Each Lender and Agent may, and are hereby authorized by Borrower to, endorse in Lender’s and Agent’s books and records appropriate notations regarding such L▇▇▇▇▇’s interest in the Term Loan; provided, however, that the failure to make, or an error in making, any such notation shall not limit or otherwise affect the Obligations.
The Term Loan. (i) Subject to the terms and conditions of this Agreement and relying on the representations and warranties set forth herein, each Lender, severally and not jointly, agrees to provide its share of the Term Loan to Borrower on the Closing Date in Dollars in a principal amount equal to such Lender’s Commitment. No Lender shall have an obligation to make a Term Loan in excess of such Lender’s Commitment.
(ii) Borrower may make one borrowing under the Commitments which shall be on the Closing Date. Subject to Section 3.03, all amounts owed hereunder with respect to the Term Loan shall be paid in full no later than the Maturity Date. Each Lender’s Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Commitment on such date.
(iii) Upon satisfaction or waiver of the conditions precedent set forth in this Agreement, the Lenders shall make the proceeds of the Term Loan available to Borrower on the Closing Date.
The Term Loan. The Bank will make a term loan (the "Term Loan") to the Company contemporaneously with the execution of this Agreement on the following terms and subject to the following conditions:
The Term Loan. Lender agrees to extend the Term Loan to Borrower in accordance with the terms of, and subject to the conditions set forth in, this Agreement, the Term Note and the other Loan Documents. An initial Borrowing Tranche in an amount equal to the entire principal amount of the Term Loan shall be borrowed on the Closing Date and, thereafter, such Borrowing Tranche may be converted or renewed from time to time in accordance with the terms and subject to the conditions set forth in this Agreement. Subject to Section 2.6, the Interest Rate Floor Amount and any other conditions and limitations set forth in this Agreement, any Borrowing Tranche under the Term Loan shall be treated as, at Borrower’s election subject to and in accordance with the terms in this Agreement: (a) a LIBO Rate Tranche and shall bear interest per annum at a rate equal to 1.15% (115 basis points) plus the LIBO Rate; or (b) a Base Rate Tranche and shall bear interest at a rate equal to the Base Rate. The unpaid principal balance plus all accrued but unpaid interest on the Term Loan shall be due and payable on the Term Loan Maturity Dates (in the amounts provided in the definition of “Term Loan Maturity Dates”), or such earlier date on which such amount shall become due and payable on account of acceleration by Lender in accordance with the terms of the Term Note and this Agreement. Until January 1, 2014, the Borrower may not reduce the outstanding balance of the Term Loan below $500,000 if there is any outstanding principal owing under the Subordinated Debt.
The Term Loan. Lender agrees to make a term loan to the Company in a principal amount not to exceed the Term Loan Amount set forth in the Term Note (the “Term Loan”) upon the request of the Company made in accordance with the terms of the Term Note and this Agreement; provided, however, that the Term Loan shall be made in a single advance on or before the Term Loan Availability Expiration Date.