Prior Term Loan definition

Prior Term Loan is defined in Section 2.1.2(a).

Prior Term Loan is defined in Section 1.10 hereof.

Prior Term Loan is defined in Section 2.1.5 hereof. “Registered Organization” is any “registered organization” as defined in the Code with such additions to such term as may hereafter be made. “Requirement of Law” is as to any Person, the organizational or governing documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.

Examples of Prior Term Loan in a sentence

• Borrower shall continue to pay the Prior Term Loan in monthly installments of principal (in accordance with the existing 36-month amortization schedule), plus accrued interest on the first day of each month, and with a final payment of all remaining principal amounts outstanding under the Prior Term Loan and accrued interest thereon on the applicable Prior Term Loan Maturity Date.

• Borrower acknowledges that, as of the Effective Date, the outstanding principal amount of the Prior Term Loan is $303,987.16.

• Borrower acknowledges there is no availability under the Prior Term Loan, and no amount of the Prior Term Loan may be reborrowed.

• Subject to Section 2.3(b), the principal amount outstanding under the Prior Term Loan shall accrue interest at a floating per annum rate equal to the greater of (i) one percentage point (1.0%) above the SVB Prime Rate, or (ii) eight and three-quarters of one percent (8.75%), which interest shall be payable monthly.

• The outstanding principal balance of the Term Loan 2011 plus the outstanding principal balance of the Prior Term Loan plus the outstanding principal balance of all PFG Subordinated Debt plus any other balance sheet term debt of Borrower, shall not exceed Two Million Four Hundred Thousand Dollars ($2,400,000) at any time.

More Definitions of Prior Term Loan

Prior Term Loan. “Quasar”, “Second Draw”, “Term Loan Amount”, “Term Loan Commitment Percentage” and “Term Loan Maturity Date” appearing in Section 14.1 of the Loan Agreement is deleted in its entirety.

Prior Term Loan. The term loan made pursuant to the Prior Term Loan Agreement.

Prior Term Loan means the term loan under the Prior Credit Agreement.

Prior Term Loan means all Loans outstanding under this Agreement immediately prior to the refinancing thereof with Term B-1 Loans on the Second Amendment Effective Date.

Prior Term Loan is defined in the recitals hereto.

Prior Term Loan means the term loan in the original principal sum of $640,000.00, evidenced by the Prior Term Note.

Prior Term Loan is defined in the preamble of this Agreement.