Existing Term Loan Advance definition

Existing Term Loan Advance has the meaning assigned to such term in the preamble to this Agreement.

Existing Term Loan Advance is defined in Section 2.1.6(a).

Existing Term Loan Advance is defined in Section 2.3 of this Agreement.

Examples of Existing Term Loan Advance in a sentence

• Subject to Section 2.3(b), the outstanding principal amount of the Existing Term Loan Advance shall accrue interest at a fixed per annum rate equal to eight percent (8.00%), which shall be payable monthly in accordance with Section 2.3(f) below.

• Borrower hereby agrees that it shall request an Advance on the date of this Amendment (the “Term Loan Prepayment Advance”) in an amount sufficient to pay in full all obligations and liabilities of Borrower to Bank in connection with the Existing Term Loan Advance, and Borrower hereby authorizes Bank to apply proceeds of the Term Loan Prepayment Advance (internally, without actually providing such funds to Borrower) to such obligations and liabilities in connection therewith as part of the funding process.

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• If the Existing Term Loan Advance is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of: (i) all outstanding principal under the Existing Term Loan Advance, plus accrued interest, plus (ii) the Existing Term Loan Prepayment Premium, plus (iii) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

• All accrued but unpaid interest on the Advances shall be due and payable on the Revolving Line Maturity Date, and all accrued but unpaid interest on the Existing Term Loan Advance shall be due and payable on the Existing Term Loan Maturity Date.

• Pursuant to the terms hereof, interest on each Advance and the Existing Term Loan Advance shall be paid in arrears on each Interest Payment Date.

• Borrower shall pay interest accrued on the Advances and the Existing Term Loan Advance at the rates and in the manner set forth in Section 2.7. With respect to LIBOR Advances, nothing herein (including any mandatory or permitted prepayment requirements) shall limit the requirement that Borrower pay amounts owing in connection with such prepayment pursuant to Sections 3.6 and/or 3.7.

• Accrued interest shall also be paid on the date of any prepayment of any Advance or the Existing Term Loan Advance pursuant to this Agreement for the portion of any Advance or the Existing Term Loan Advance so prepaid and upon payment (including prepayment) in full thereof.

• Borrower hereby unconditionally promises to pay to Bank the Existing Term Loan Advance in accordance with the terms of this Agreement.

• Borrower acknowledges that there is no further availability or borrowings are permitted with respect to the Existing Term Loan Advance.

More Definitions of Existing Term Loan Advance

Existing Term Loan Advance and “Existing Term Loan Advances” are defined in Section 2.4(a).

Existing Term Loan Advance has the meaning as specified in Section 3.4 hereof.

Existing Term Loan Advance means, with respect to each of the Existing Term Loan Lenders, the single advance made on the effective date of the Existing Credit Agreement by such Existing Term Loan Lender to the Borrower pursuant to Section 2.01(a) of the Existing Credit Agreement.