Examples of Term C Advance in a sentence
Such notice of borrowing shall be irrevocable and shall be deemed a representation by the Company that on the Effective Date and after giving effect to the Term C Advance the applicable conditions specified in Article 3 have been and will be satisfied.
Subject to Section 2.14(d), each Term C Lender severally agrees, on the terms and conditions set forth herein and in Amendment No. 5, to make a single advance (a "Term C Advance") to the Borrower on any Business Day during the period from the date hereof until April 15, 2000 in an amount not to exceed such Lender's Term C Commitment at such time.
For the avoidance of doubt, the aggregate Commitments in respect of the Term C Advance shall not exceed $5,000,000.
The Term C Advance owing to the Lender by the Borrower and the maturity thereof, and all payments made on account of principal thereof, shall be recorded by the Lender in its books; provided that the failure of the Lender to make any such recordation shall not affect the Obligations of the Borrower under this Term C Note or the Obligations of any of the Loan Parties under or in respect of any of the Loan Documents.
On the Second Amendment Effective Date, each Revolving Term Lender shall be deemed to have converted a portion of the Revolving Term Loans held by such Revolving Term Lender to a Term C Advance hereunder in an amount equal to such Revolving Term Lender’s Term C Commitment Amount.