Examples of Old Loans in a sentence
The payments to any of the Departing Banks for purchases of Old Loans under Section 4.04 shall be without recourse to the Agent, any of the Departing Banks, any of their respective affiliates or any of their respective officers, directors, agents or employees.
The parties agree that, as of the date hereof, the aggregate amount owed by the Company to Purchaser with respect to the Old Loans is $562,573.04 ($552,500.00 principal amount plus $10,073.04 accrued interest) and the number of shares of Common Stock covered by the Old Warrants is 4,420,000.
On the Amendment Effective Date and pursuant to Section 2.17 of the Credit Agreement as in effect immediately prior to the Amendment Effective Date, the Borrower agrees to pay a fee (the “Prepayment Fee”) to the Administrative Agent, for the account of each Lender, in an amount equal to 1.00% of the Old Loans of such Lender.
Prior to making the initial New Loans to be made hereunder, each of the Lenders shall have received all Promissory Notes evidencing the Old Loans, each duly executed by the Borrower, to which such Lender is entitled by the terms hereof.
On the Amendment Effective Date, pursuant to Section 2.19 of the Credit Agreement as in effect immediately prior to the Amendment Effective Date, the Borrower agrees to pay a fee (the “Prepayment Fee”) to the Administrative Agent, for the account of each Lender, in an amount equal to 1.00% of the Old Loans of such Lender.
Pursuant to such arrangements, each Old Lender has made one or more loans (the "Old Loans") to the Company, each represented by a promissory note of the Company (the "Old Notes"), each of which is secured by one or more prior security agreements or arrangements (the "Old Security Agreements"), and with respect to which each Old Lender has been issued one or more warrants to purchase common stock of the Company (the "Old Warrants").
The Borrower shall use the Loans (i) to repay the outstanding amount of the Old Loans and other Borrowed Money and (ii) for working capital and other lawful business requirements of the Borrower and the Subsidiaries, all subject to and in accordance with the provisions of this Agreement.
The parties agree that, as of the date hereof, the aggregate amount owed by the Company to Purchaser with respect to the Old Loans is $_________, and the number of shares of Common Stock covered by the Old Warrants is _________.