Examples of Outstanding Term Loan in a sentence
Subject to the terms and conditions set forth herein, each Term Lender severally agrees to make a single loan to the Domestic Borrower, in Dollars, in a single draw on the Closing Date in an amount equal to such Term Lender’s Applicable Percentage of the Initial Term Facility less such Term Lender’s Applicable Percentage of the Outstanding Term Loan Obligations (the “Closing Date Term Loans”, and together with the Outstanding Term Loan Obligations, the “Initial Term Loan”).
If, on any date, the Outstanding Advances other than the Outstanding Term Loan shall exceed the Maximum Advance Amount (such excess, the "Shortfall Amount"), then the Customer shall on such date prepay the Outstanding Advances other than the Outstanding Term Loan in an amount equal to such Shortfall Amount.
On the Closing Date and upon effectiveness of this Agreement, the Outstanding Term Loan Balance shall be continued and shall convert automatically, for all purposes of this Agreement, to a portion of the Term Loan hereunder owing to the Lenders as if such portion of the Term Loan had been made by the Lenders to the Borrowers hereunder on the Closing Date ratably in accordance with their respective Pro Rata Term Loan Share.
As additional compensation for the Lenders, Borrower shall pay to Agent, for the ratable benefit of such Lenders, in arrears, on the first Business Day of each calendar month prior to September 30, 2008 and on September 30, 2008, a fee for Borrower’s non-use of available funds in an amount equal to the Applicable Unused Line Fee Margin per annum multiplied by the Outstanding Term Loan Commitment as of the last Business Day of the immediately preceding calendar month.
The Administrative Agent and the Lenders further agree that the Revolving Commitments and outstanding Term Loans of certain of the Lenders shall be reallocated among such Lenders on the Restatement Date such that, as of the Restatement Date, the Revolving Commitments and outstanding Term Loans of each Lender shall be as set forth on the Commitment and Outstanding Term Loan Schedule.
The Borrowers shall execute and deliver to the Administrative Agent for the account of each Lender the Notes which such Lender is entitled to receive pursuant to Section 2.04 of the Financing Agreement, in the forms of Exhibits A and B thereto and in the principal amount for each Lender equal to its Pro Rata Share of the Outstanding Term Loan and the Total Revolving Credit Commitment, each as set forth in Annex I to this Amendment (the "New Notes").
The First Amendment Closing Date Outstanding Term Loan and First Amendment Closing Date Outstanding Revolving Loan (together with all accrued and unpaid interest, fees, indemnities, costs and other payment obligations that are outstanding immediately prior to the First Amendment Effective Date) are owing as of the First Amendment Effective Date, and are payable without set-off, counterclaim, deduction, offset or defense.
Outstanding Term Loan Commitments in an amount equal to the amount of any Term Loan actually advanced shall terminate on the date of such advance (after giving effect to the Term Loan occurring on such date).
In addition, the Borrower promises to pay to the Agent for the respective accounts of the Banks those amounts as are required to be paid pursuant to any asset disposition consummated in connection with Section 9.5.2. after the Conversion Date, in the manner and at the times set forth in Section 9.5.2, which amounts shall be applied to the Outstanding Term Loan in the inverse order of maturity.
If the Atlanta Property Proceeds are insufficient to pay in full the Outstanding Term Loan B Amounts, then (x) such proceeds shall be applied first, to pay all accrued and unpaid interest due in respect of the Term Loan B until paid in full, and second, to pay all outstanding principal in respect of the Term Loan B and (y) any remaining unpaid Outstanding Term Loan B Amounts shall continue to remain outstanding Obligations in accordance with the terms and provisions of this Agreement.