Examples of Facility B Revolving Loan in a sentence
Except as otherwise provided herein, Borrowers may borrow, repay and reborrow Facility B Revolving Loans until the Facility B Revolving Loan Maturity Date.
Borrowers shall pay accrued interest on the unpaid principal amount of each Facility B Revolving Loan in arrears (A) in the case of a Base Rate Loan, on the last day of the month of each March, June, September and December, (B) in the case of a LIBOR Loan, on the last day of each Interest Period therefor (and, if any such Interest Period is longer than three (3) months, every three (3) months); and (C) in the case of all Facility B Revolving Loans, upon prepayment (to the extent thereof) and at maturity.
Borrowers shall repay the principal amount of the Facility B Revolving Loans in full on the Facility B Revolving Loan Maturity Date.
All Facility B Revolving Loans shall be made on a pro rata basis by Facility B Lenders in accordance with their respective Facility B Proportionate Shares, with each Facility B Revolving Loan Borrowing to be comprised of a Facility B Revolving Loan made by each Facility B Lender equal to such Facility B Lender's Proportionate Share of such Facility B Revolving Loan Borrowing.
If payment of such costs is not made within ten (10) days of the Bank’s demand therefor, the Bank may, and the Borrower irrevocably authorizes the Bank to, charge the Borrower’s account with the Bank or make an advance under the Facility A Revolving Loan or the Facility B Revolving Loan in order to satisfy such obligation of the Borrower.
The Borrower acknowledges that, as of January 8, 2013, the aggregate outstanding principal balance under the Facility A Revolving Loan was $13,000,000.00 and the aggregate outstanding principal balance under the Facility B Revolving Loan was $0.00.
The obligations of Facility B Lenders to make the Term Loans comprising the Term Loan Borrowing also are subject to receipt by Agent, on or prior to the Facility B Revolving Loan Maturity Date, of a Term Loan Note for each Facility B Lender so requesting such a note, duly executed by the applicable Borrower.
Unless Borrower converts all Facility B Revolving Loans outstanding on the Facility B Revolving Loan Maturity Date into term loans pursuant to Subparagraph 2.02(b), Borrower shall repay the outstanding principal amount of all Facility B Revolving Loans on such date.
The Company shall use the proceeds of the Facility B Revolving Loan to make capital contributions and loans to the Guarantors for working capital expenditures, and for issuance of standby letters of credit pursuant to Article III hereof in the ordinary course of business.
Each Facility B Revolving Loan, together with accrued interest thereon, shall be due and payable on the date that is ninety (90) days from the end of the Advance Period in which such Borrowing was made.