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.
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”).
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.
This Term Note C evidences a Term Loan C Advance described in the Loan Agreement.
Bank shall credit the Term Loan C Advance to the Designated Deposit Account.
The Term Loan A Advance, the Term Loan B Advance and the 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.
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.
The aggregate outstanding amount of the Term Loan C Advance shall thereafter amortize and be payable in thirty (30) equal payments of principal and interest beginning on first day of the month immediately following the Interest Only Period, and shall continue on the first day of each month thereafter.
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.