Third Term Loan. Subject to the terms hereof, on and after the --------------- Effective Date until the First Takedown Period, Bank will advance Debtor the sum of up to One Million Five Hundred Thousand Dollars ($1,500,000.00), which shall be used to finance new equipment for Pharmaceutics. Commencing on October 1, 1997, and on the first day of each calendar month thereafter, Debtor shall pay to Bank sixty (60) equal monthly installments of principal together with all unpaid interest as it shall have accrued on the Third Term Loan amortized over such sixty (60) months, all as more fully provided herein and in the Third Term Loan Note to be executed by Debtor at the signing hereof. The entire outstanding balance of principal, and any accrued and unpaid interest thereon, shall be due and payable in any event on the earliest of (1) sixtieth (60th) month following the Effective Date (September 1, 2002) or (2) the date of acceleration of the Third Term Loan Note upon an Event of Default. The outstanding principal balance under the Third Term Loan shall bear interest at a rate eight and five one-hundredths percent (8.05%) per annum (except that interest shall accrue at the Default Rate, so long as an Event of Default shall have occurred and be continuing uncured).
Third Term Loan. (a) Third Term Loan. The Bank has made and continues to make hereunder a loan (the "Third Term Loan") to Borrower, in the outstanding principal amount as of the Closing Date of One Million Three Hundred Thousand Dollars ($1,300,000).
Third Term Loan. Subject to Section 2.3(b), the principal amount outstanding under the Third Term Loan shall accrue interest at the following per annum rates: (i) if the Adjusted Quick Ratio is greater than or equal to 2.0 to 1.0, then the interest rate is 0.25 percentage point above the Prime Rate; and (ii) if the Adjusted Quick Ratio is less than 2.0 to 1.0, then the interest rate is .50 percentage points above the Prime Rate. If any change in the interest rate is due to a change in the Adjusted Quick Ratio, the change shall take effect on the first day of the month following the Bank’s receipt of Borrower’s financial statements for which the Adjusted Quick Ratio was calculated.”
2.3 Section 3.4(c) (Third Term Loan Advances). A new Section 3.4(c) is hereby added to the Loan Agreement as follows:
Third Term Loan. Subject to the terms and conditions contained in this Agreement, the Lender agrees to make a loan (the "THIRD TERM LOAN") to TBO, and TBO agrees to borrow from the Lender, on or before the Commitment Expiration Date, the aggregate principal amount of up to Five Million Dollars ($5,000,000.00) (the "THIRD COMMITMENT"). The Third Term Loan shall be evidenced by the Third Note.
Third Term Loan. See Section 2.1(c)(i).
Third Term Loan. (a) GHMR, Xxxx X. Xxxxxxxxx, and Xxxxxx X. Xxxxxxxxx have requested a new term loan to refinance the existing loan from Lender to GHMR for the Facility in Dilley, Frio County, Texas, and Lender has agreed on the terms set forth in this Amendment. The Loan Agreement is amended to add a new Section 1C that reads as follows:
Third Term Loan. (a) Subject to the terms and conditions set forth in the Loan Agreement and the other Loan Documents, Lender agrees to make term loan in the maximum aggregate principal amount of $1,797,500.00 to GHMR, Xxxx X. Xxxxxxxxx, and Xxxxxx X. Xxxxxxxxx, as co-borrowers (the “Third Term Loan”) on the terms set forth in the Term Promissory Note attached as Exhibit J to this Amendment (the “Third Term Note”), for the purpose of refinancing the existing principal balance outstanding on the loan from Lender to GHMR for the Facility in Dilley, Frio County, Texas.
(b) The unpaid principal balance of the Third Term Note shall bear interest from the date advanced until paid or until Event of Default or maturity at a fixed rate equal to four and one-half percent (4.5%) per annum. The Third Term Loan is payable on the terms set forth in the Third Term Note and will mature on September 22, 2023.” MAALT, L.P. GHMR OPERATIONS, L.L.C. September 22, 2016
Third Term Loan. The Bank agrees to lend to the Borrower, subject to and upon the terms and conditions herein set forth, the sum of Two Hundred Seventy Five Thousand and No/100 Dollars ($275,000.00) (herein referred to as the "Third Term Loan"). The Third Term Loan shall be evidenced by and be repayable with interest in accordance with the terms of this Agreement and a promissory note payable to the order of the Bank in the original principal amount of $275,000.00, which shall be dated on or before the initial disbursement of the Third Term Loan and shall be duly executed and delivered by the Borrower (the "Third Term Note").
Third Term Loan. The Bank agrees on the terms and conditions hereinafter set forth, to make a loan (the "Third Term Loan") to Borrower, in the principal amount of One Million Five Hundred Thousand and 00/100 Dollars ($1,500,000.00).
Third Term Loan. The obligation of each Lender to make the Third Term Loan is subject to the following conditions precedent:
