Examples of Subordinated Term Loans in a sentence
All Indebtedness, other than Indebtedness permitted under Section 8.1, but including the Existing Senior Credit Facility and Outstanding Senior Subordinated Term Loans, of the Company and each of its Subsidiaries outstanding immediately before the consummation of the Transactions shall have been repaid in full and each Purchaser shall have received evidence of each repayment reasonably satisfactory to such Purchaser and Xxxxx Xxxxx.
The Term Loan A and Subordinated Term Loans will be used to finance the acquisition of the Shares pursuant to the Offer and Merger and to pay all related costs and expenses.
The Company may, by 30-day notice to Subscriber, prepay the outstanding amount of the subordinate term loan in whole or in part with accrued interest to the date of such prepayment on the amount prepaid, without penalty or premium, provided that any prepayment of the subordinate term loan must be done pro rata on the outstanding principal amount of all Subordinated Term Loans.
After giving effect to any Revolving Credit Loan to be made or Letters of Credit to be issued on such date, the aggregate outstanding Revolving Credit Loans and Letter of Credit Outstanding shall not exceed $76,000,000 unless Subordinated Revolving Loans (including for this purpose Subordinated Revolving Loans converted into Subordinated Term Loans) are outstanding in a principal amount of at least $30,000,000.
The Subordinated Term Loans shall be secured by a Subordinated Security Agreement in the form attached hereto as Exhibit D encumbering on a junior lien and security interest basis the properties, rights and assets of the Company described in the Subordinated Security Agreement (the “UCC Collateral”).
Waiver of Effect of Corporate Seal 68 Section 11.1. General Description of Subordinated Term Loans 68 Section 11.2. Repayment of Subordinated Term Loans 68 Section 11.3. Subordination Provisions.
From and after the Conversion Date, the Subordinated Term Loans shall constitute “Loans” or “Term Loans”, as the context requires, hereunder and, except as modified by or in accordance with this Article XI, such Subordinated Term Loans (i) will be governed by the terms and conditions of this Credit Agreement and (ii) shall have the same terms as the Term Loans.
The Subordinating Term Loan Agent has advised the Senior Agents and the Subordinating Reimbursement Creditor that the Subordinating Term Loan Creditors desire to advance to the Borrower, in one or more advances, up to an additional $7,500,000.00 in the aggregate pursuant to the Subordinated Credit Agreement, in each case as an increase to the Subordinated Term Loans (collectively, the “$7.5MM Increase”).
The outstanding principal amount of all Term Loans shall be due and payable (together with accrued and unpaid interest thereon and other Obligations owing in connection therewith) on the Maturity Date; provided, that if such Obligations are not paid in full on the Conversion Date, the Term Loans shall automatically convert to Subordinated Term Loans in accordance with Article XI.
The Agent shall have no obligation with respect to the SIMA Letter of Credit except to make a drawing thereon if and to the extent set forth in this subsection 8.16, and to consent to amendments to such Letter of Credit to reduce the face amount thereof by an amount equal to all Subordinated Revolving Loans converted to Subordinated Term Loans.