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.
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.
Once repaid, no part of the Term Loan C Advance may be reborrowed.
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.
Fully amortizing loan payments on the Term Loan C Advance would commence on October 1, 2012, with a scheduled Term Loan C Maturity Date occurring on March 1, 2015.
The Term Loan A Advance, each Term Loan B Advance and each Term Loan C Advance are hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”.
Lender will initiate debit entries to the Borrower’s account as authorized on the ACH Authorization on each payment date of all periodic obligations payable to Lender under each Term Loan C Note or Term Loan C Advance.
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.