Tranche B Term Loan. (i) Prior to the Tranche B Term Loan Commitment Termination Date, 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, at the request of the Borrower, to provide its share of the Tranche B Term Loan to the Borrower on the Tranche B Term Loan Borrowing Date in Dollars in a principal amount equal to such Lender’s Tranche B Term Loan Commitment. No Lender shall have an obligation to make a Tranche B Term Loan in excess of such Lender’s Tranche B Term Loan Commitment.
(ii) Subject to the terms and conditions of this Agreement (including Section 6.02), the Borrower shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than 5 p.m. (Eastern time) at least three (3) Business Days in advance of the proposed Tranche B Term Loan Borrowing Date.
(iii) The Borrower may make one (1) borrowing under the Tranche B Term Loan Commitment which shall be on the Tranche B Term Loan Borrowing Date. Subject to Sections 3.01 and 3.03, all amounts owed hereunder with respect to the Tranche B Term Loan shall be paid in full no later than the Maturity Date. Each Lender’s Tranche B Term Loan Commitment shall terminate immediately and without further action on the Tranche B Term Loan Borrowing Date after giving effect to the funding of such Lender’s Tranche B Term Loan Commitment on such date.
Tranche B Term Loan. The Borrower shall repay the outstanding principal amount of the Tranche B Term Loan in installments on the last Business Day of each month and in the amounts set forth in the table below (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 9.02: PRINCIPAL AMORTIZATION PAYMENT DATES PAYMENT --------------- ---------------------- March, 2004 $ 625,000 June, 2004 $ 625,000 September, 2004 $ 625,000 December, 2004 $ 625,000 March, 2005 $ 625,000 June, 2005 $ 625,000 September, 2005 $ 625,000 December, 2005 $ 625,000 March, 2006 $ 625,000 June, 2006 $ 625,000 September, 2006 $ 625,000 December, 2006 $ 625,000 March, 2007 $ 625,000 June, 2007 $ 625,000 September, 2007 $ 625,000 December, 2007 $ 625,000 March, 2008 $ 625,000 June, 2008 $ 625,000 September, 2008 $ 625,000 December, 2008 $ 625,000 March, 2009 $ 625,000 June, 2009 $ 625,000 September, 2009 $ 625,000 December, 2009 $ 625,000 March, 2010 $58,750,000 June, 2010 $58,750,000 September, 2010 $58,750,000 Maturity Date $58,750,000
Tranche B Term Loan. Subject to the terms and conditions set forth herein, each Lender having a Tranche B Term Loan Commitment as of the First Amendment Effective Date agrees to make its portion of a term loan (the “Tranche B Term Loan”) to the Borrower on the First Amendment Effective Date in an amount equal to such Lender’s Tranche B Term Loan Commitment. Amounts repaid on the Tranche B Term Loan may not be reborrowed. The Tranche B Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
Tranche B Term Loan. The Borrower shall repay the outstanding principal amount of the Tranche B Term Loan in consecutive quarterly installments as follows (as such installments may be hereafter adjusted as a result of prepayments made pursuant to Section 2.05) unless accelerated sooner pursuant to Section 9.02:
Tranche B Term Loan. Subject to the terms and conditions set forth herein, each Lender severally agrees to make its portion of a term loan (the "Tranche B Term Loan") to the Borrower on the Closing Date in an amount not to exceed such Lender's Tranche B Term Loan Commitment. Amounts repaid on the Tranche B Term Loan may not be reborrowed. The Tranche B Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, as further provided herein, provided, however, the Borrowing of the Tranche B Term Loan made on the Closing Date shall be made as Base Rate Loans.
Tranche B Term Loan. Subject to the terms and conditions set forth herein, each Lender with a Tranche B Term Loan Commitment severally agrees to make its portion of a term loan (the "Tranche B Term Loan") to the Borrower on the Closing Date in an amount not to exceed such Lender's Tranche B Term Loan Commitment. Amounts repaid or prepaid on the Tranche B Term Loan may not be reborrowed. The Tranche B Term Loan may consist of Base Rate Loans or Eurodollar Rate Loans, as further provided herein.
Tranche B Term Loan. The Borrower shall repay the outstanding principal amount of the Tranche B Term Loan in twenty-one (21) consecutive quarterly installments (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.4) on the last Business Day of each month set forth below and on the applicable Maturity Date, unless accelerated sooner pursuant to Section 9.2: =============================================================== PAYMENT DATES PRINCIPAL AMORTIZATION PAYMENT --------------------------------------------------------------- September, 2004 $210,625 --------------------------------------------------------------- December, 2004 $210,625 --------------------------------------------------------------- March, 2005 $210,625 --------------------------------------------------------------- June, 2005 $210,625 --------------------------------------------------------------- September, 2005 $210,625 --------------------------------------------------------------- December, 2005 $210,625 --------------------------------------------------------------- March, 2006 $210,625 --------------------------------------------------------------- June, 2006 $210,625 --------------------------------------------------------------- September, 2006 $210,625 --------------------------------------------------------------- December, 2006 $210,625 --------------------------------------------------------------- March, 2007 $210,625 --------------------------------------------------------------- June, 2007 $210,625 --------------------------------------------------------------- September, 2007 $210,625 --------------------------------------------------------------- December, 2007 $210,625 --------------------------------------------------------------- March, 2008 $210,625 --------------------------------------------------------------- June, 2008 $210,625 --------------------------------------------------------------- September, 2008 $210,625 --------------------------------------------------------------- December, 2008 $210,625 --------------------------------------------------------------- March, 2009 $210,625 --------------------------------------------------------------- June, 2009 $210,625 --------------------------------------------------------------- Maturity Date $80,037,500 ===============================================================
Tranche B Term Loan a) Subject to and upon the terms and conditions of this Agreement and provided that Borrower has achieved the Revenue Milestone, Bank agrees to make one (1) to Borrower in an aggregate principal amount of One Million Dollars ($1,000,000) (the “Tranche B Term Loan”, and together with the Tranche A Term Loan, each a “Term Loan” and collectively, the “Term Loans”). Borrower may request the Tranche B Term Loan at any time from January 1, 2014 through the Tranche B Availability End Date.
b) Interest shall accrue from the date of the Tranche B Term Loan at the rate specified in Section 2.3(a), and prior to the Trench B Interest Only End Date shall be payable monthly beginning on the 24th date of the month next following such Tranche B Term Loan, and continuing on the same day of each month thereafter. The Tranche B Term Loan that is outstanding on the Tranche B Interest Only End Date shall be payable in 24 equal monthly installments of principal, plus all accrued interest, beginning on the 24th day of the first month following the Tranche B Interest Only End Date and continuing on the same day of each month thereafter through the Tranche B Term Loan Maturity Date, at which time all amounts due in connection with the Tranche B Term Loan shall be immediately due and payable.
Tranche B Term Loan. The Tranche B Term Loan will be available only during the Tranche B Term Loan Availability Period.
Tranche B Term Loan. The Borrower shall repay the outstanding principal amount of the Tranche B Term Loan in consecutive quarterly installments as follows (as such installments may be hereafter adjusted as a result of prepayments made pursuant to Section 2.05) unless accelerated sooner pursuant to Section 9.02: Each March 31, June 30, September 30 and December 31, commencing June 30, 2010 and continuing through March 31, 2017 $ 1,900,000 Maturity Date applicable to the Tranche B Term Loan Unpaid Balance
