Second Amendment Loan definition
Examples of Second Amendment Loan in a sentence
In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the Second Amendment Loan and, if payment in full is not made when due, thereafter on demand.
Each prepayment pursuant to subsection (c)(iii)(B) above shall be applied (x) first, to the Second Amendment Loan and any accrued and unpaid interest thereon until it has been repaid in full, and (y) thereafter to the outstanding amount of the Term Loan.
Concurrent with the Second Amendment Loan Agreement, the Company has agreed to issue and sell to Second Amendment Lenders warrants (the "Second Amendment Warrants" and, together with the Original Warrant and the First Amendment Warrants, the "Warrant") entitling the holders thereof to purchase the number of shares (the "Second Amendment Warrant Shares" and, together with the Original Warrant Shares and the First Amendment Warrant Shares, the "Warrant Shares"), of Common Stock as set forth therein.
All consents, authorizations and approvals of, and filings and registrations with, and all other actions in respect of, any Governmental Authority or other Person required in connection with this Second Amendment (including the making of the Second Amendment Loan) or the conduct of the Loan Parties’ business shall have been obtained and shall be in full force and effect.
Each prepayment pursuant to subsections (c)(iii), (c)(iii)(A) and (c)(iv) above shall be applied, as between the Second Amendment Loan and the Term Loan, on a pro rata basis based on the respective principal amounts outstanding thereunder.
Except as expressly modified by this Second Amendment, Loan Documents are ratified and confirmed and are, and shall continue to be, in full force and effect in accordance with their respective terms.
Permit Liquidity at any time to be less than (i) until the earlier of (x) May 15, 2022 and (y) the date on which the Second Amendment Loan and all accrued and unpaid interest thereon is repaid in full, $15,000,000, and (ii) thereafter, $20,000,000 at any time.
The Borrower shall have paid (or substantially simultaneously with the funding of the Second Amendment Loan, shall pay) all fees, costs, expenses and taxes then payable by the Borrower pursuant to this Second Agreement, the Financing Agreement and the other Loan Documents, including, without limitation, all costs and expenses required to be paid pursuant to Section 6 below.
Borrower further warrants, represents and confirms that, as of the Second Amendment Closing Date, the aggregate outstanding principal balance of the Second Amendment Loan equals $1,400,000.
All proceedings in connection with the making of the Second Amendment Loan and the other transactions contemplated by this Second Amendment, and all documents incidental hereto and thereto, shall be satisfactory to the Collateral Agent and its counsel, and the Collateral Agent and such counsel shall have received all such information and such counterpart originals or certified or other copies of such documents as the Collateral Agent or such counsel may reasonably request.