Examples of Term Loan Draw Period in a sentence
Subject to the terms and conditions of this Agreement, during the Term Loan Draw Period, and upon the delivery to Bank by Borrower of a completed and executed irrevocable LOAN PAYMENT/ADVANCE REQUEST FORM (in the form of Schedule F), Bank shall make Loans available to Borrower in an aggregate principal amount up to Seven Hundred Fifty Thousand Dollars ($750,000.00), provided that each Loan shall be in a principal amount of at least Two Hundred Fifty Thousand Dollars ($250,000.00).
Subject to the terms and conditions of this Agreement, (i) on the 2012 Effective Date, Bank shall make one (1) advance (the “Initial Term Loan Advance”) in an amount equal to Five Hundred Thousand Dollars ($500,000.00), and (ii) during the Term Loan Draw Period, Bank shall make advances (each, a “Draw Period Term Loan Advance” and, collectively, “Draw Period Term Loan Advances”) in an aggregate amount not exceeding the Draw Period Term Loan Amount.
The Term Loan Payments shall commence on the first day of the month following the end of the Term Loan Draw Period and shall continue on the first day of each month thereafter with a balloon payment on the Term Loan Maturity Date.
During the Term Loan Draw Period, subject to the terms and conditions of this Agreement, Bank agrees to make advances to Borrower (each a "Term Loan Advance" and collectively the "Term Loan Advances") in an aggregate original principal amount not to exceed Three Million Five Hundred Thousand Dollars ($3,500,000).
The aggregate principal amount of all Term Loan Advances outstanding at the end of the Term Loan Draw Period, shall be repaid in (A) thirty-three (33) equal installments of principal, plus (B) monthly payments of accrued interest (each a “Term Loan Payment”).