Term Loan C Advance definition
Examples of Term Loan C Advance in a sentence
During the Term Loan C Interest Only Period, Borrower will pay interest on each Term Loan C Advance on the first day of each month, beginning the month after the Advance Date.
To obtain a Term Loan C Advance, Borrower shall complete, sign and deliver an Advance Request (at least five business days before the Advance Date) and Term Loan C Note to Lender.
Commencing with the date of the first Term Loan C Advance to Borrower, Borrower and its Subsidiaries shall maintain at all times a Senior Leverage Ratio of no more than 2.75 to 1.00.
The principal balance of each Term Loan C Advance shall bear interest thereon from such Advance Date at the Term Loan C Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.
Lender shall fund the Term Loan C Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan C Advance is satisfied as of the requested Advance Date.
Once repaid, no part of the Term Loan C Advance may be reborrowed.
Each of the other conditions described in this Section 2.3(II) shall have been satisfied, and Borrower shall have delivered the Notice of Term Loan C Advance, on or prior to the earlier of (i) the ninth (9th) day following the entry or settlement of the Final Judgment and (ii) December 31, 1998.
Subject to the terms and conditions of this Agreement, during the Term Loan C Advance Draw Period, upon Borrower’s request, the Term Loan Lenders, severally and not jointly, shall make one (1) term loan advance available to Borrower in an original principal amount of Two Million Dollars ($2,000,000.00) (the “Term Loan C Advance”).
Maintain at all times following the Funding Date (if any) of the first Term Loan C Advance, to be tested as of the last day of each month, unrestricted and unencumbered cash of at least Fifteen Million Dollars.
Bank shall credit the Term Loan C Advance to the Designated Deposit Account.