Term Notes B definition
Examples of Term Notes B in a sentence
This Term Note is in partial substitution for and replacement of certain Term Notes A and Term Notes B in the original aggregate principal amount of $ , made by Borrower to certain lenders under the Original Credit Agreement (as such Term Notes A and Term Notes B shall have been amended and substituted prior to the date hereof, collectively, the “Original Notes”), and is made in substitution of such Original Notes and not in satisfaction of any portion of such Original Notes.
The Term Loans B made by each such Lender shall be evidenced by and repayable in accordance with the terms and conditions of promissory notes, in the form of EXHIBIT T-2 (the "Term Notes B"), executed by Borrower in favor of such Lender.
As of November 12, 2003, that certain Term Loan B in the original principal amount of $4,550,951.72 that was made by Lenders to Borrower on March 14, 2003, has been paid in full and the Term Notes B that were executed in connection therewith have been cancelled.
The applicable prepayment shall be applied first to the installments of principal due under Term Note(s) B in the inverse order of their maturities until paid in full and second to the installments of principal due under Term Note(s) A in inverse order of their maturities until paid in full and third to reduce the outstanding principal balance of the Revolving Credit Loans and finally to cash-collateralize any LC Amount.
Any voluntary prepayments made on the Term Loans pursuant to Section 3.2(a) hereof prior to January 1, 2003 shall be -------------- applied, at Borrower's option exercisable by delivery of written notice thereof to Agent concurrently with the applicable prepayment, either (i) to the Term Loans A or (ii) pro rata between the Term Notes A and the Term Notes B based on their respective unpaid principal balances.
Upon the Eleventh Amendment Effective Date, Lenders shall be deemed to have consented to the deferral of the scheduled installments of principal due under Term Notes A and Term Notes B otherwise due on December 31, 2001 to January 28, 2002.
Borrower shall repay the outstanding principal amount of the Term Notes B as follows: (i) in five (5) installments, on April 30th of each year, commencing April 30, 1998, and continuing through April 30, 2002, each in the amount of $800,000.00; and (ii) one final installment on the Termination Date, in the outstanding unpaid principal amount of the Term Notes B.
If such damaged or lost Collateral is not replaced or repaired within such 180 day (or such longer period as reasonably consented to by Agent) period, all such proceeds shall be applied to installments of principal due under the Term Notes A or the Term Notes B in the manner specified in the second sentence of this Section 3.3.1 until payment thereof in full.
The US Term Loan B shall be evidenced by promissory notes substantially in the form of Exhibit 1.1(a)(i)(B) (each a "US Term Note B" and, collectively, the "US Term Notes B" and, together with the US Term Notes A, the "US Term Notes" and, each a "US Term Note"), and, except as provided in Section 1.7, TPUSA and TPI shall execute and deliver a US Term Note B to each US Term B Lender.
Optional prepayments of the Term Notes B must be proposed to be made by Borrower pro rata with the Term Notes A.