Term Loan B Advance definition

Term Loan B Advance means an advance made on pursuant to Section 2.01(d).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Term Loan B Advance has the meaning specified in Section 2.5.

Term Loan B Advance is defined in Section 2.1.2(a).

Examples of Term Loan B Advance in a sentence

• The principal balance of the Term Loan B Advance shall bear interest thereon from such Advance Date at the Term Loan B Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.

• Further Assurances; Financing Statements.....................................

• Once borrowed and repaid, no Term Loan B Advance may be reborrowed.

• Lender shall fund the Term Loan B Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan B Advance is satisfied as of the requested Advance Date.

• On the first day of the 13th month following the Closing Date, Borrower shall repay $6,875,000 of the outstanding Term Loan B Advance principal, plus all accrued and unpaid interest.

More Definitions of Term Loan B Advance

Term Loan B Advance and “Term Loan B Advances” are each defined in Section 2.2(a).

Term Loan B Advance means a borrowing requested by the Borrower and made by the Term Loan B Lenders pursuant to Section 4.1(b) hereof, including without limitation any refunding or conversion of such borrowing pursuant to Section 4.5 hereof, and may include, subject to the terms hereof, Eurodollar-based Advances and Base Rate Advances.

Term Loan B Advance means a borrowing requested by Borrower and made by the Term Loan B Lenders pursuant to Section 4.A.1(a) hereof, including without limitation any refunding or conversion of such borrowing pursuant to Section 4.A.4 hereof, and may include, subject to the terms hereof, Eurodollar-based Advances and Base Rate Advances.

Term Loan B Advance. The Term Loan B Advance shall be repaid in equal consecutive monthly installments of no less than $42,500 (or such other amount mutually agreed between Borrower and Lender) payable on the fifteenth day of each calendar month commencing with October 15, 2007, with the entire unpaid balance due and payable on the Maturity Date. (g) Schedule B to the Loan Agreement is hereby amended by amending and restating the definition of "Obligations" as follows:

Term Loan B Advance has the meaning specified in Section 2.01(b)(ii)."

Term Loan B Advance. (A) (i) Subject to the terms and conditions of the Agreement, IBM Credit shall make loans (the "Term Loan B) from time to time in an amount no lower than Two Million Five Hundred Thousand Dollars ($2,500,000) USA Customer on the date (the "Term Loan B Commencement Date") specified in a written request to IBM Credit by USA Customer for such Term Loan B ("Request for Term Loan B Advance") in the form of Exhibit 2.4.2 attached hereto, provided that the Outstanding Term Loan B at any time shall not exceed the Term Loan B Commitment. USA Customer shall deliver the Request for Term Loan B Advance on or prior to 1:00 p.m. (eastern time) one (1) Business Day prior to the Term Loan B Commencement Date. The Request for Term Loan B Advance shall set forth the principal amount of the Term Loan B. USA Customer may deliver the Request for Term Loan B Advance via facsimile.

Term Loan B Advance is defined in Section 2.3 of this Agreement.