Tranche II Term Loans definition
Examples of Tranche II Term Loans in a sentence
Except as provided in subsection 2.17(b) or 2.18, each payment (including each prepayment) by the Borrower on account of principal of and interest on the Revolving Credit Loans, Tranche I Term Loans or Tranche II Term Loans shall be made pro rata among the Lenders according to the respective outstanding principal amounts of the Revolving Credit Loans, Tranche I Term Loans or Tranche II Term Loans then held by the Lenders.
For example, at an exercise price of $27.00 per Right, each Right not owned by an Acquiring Person (or by certain related parties) following an event set forth in the preceding paragraph would entitle its holder to purchase $54.00 worth of Common Stock (or other consideration, as noted above) for $27.00.
Except as set forth in Section 2.3(b), the Tranche II Term Loans and Tranche III Term Loans shall bear interest, on the outstanding daily balance thereof, at a rate equal to (A) 3.75% during the period on and before the Availability End Date, and (B) 5.00% commencing on the day immediately following the Availability End Date and continuing thereafter.
Subject to and upon the terms and conditions of this Agreement, Bank agrees to make one or more term loans to Borrower in an aggregate principal amount not to exceed Four Million Dollars ($4,000,000) (each a “Tranche III Term Loan” and collectively the “Tranche III Term Loans”, and together with the Tranche I Term Loan and the Tranche II Term Loans, each a “Term Loan” and collectively the “Term Loans”).
Subject to and upon the terms and conditions of this Agreement, Bank agrees to make a term loan to Borrower on the Fourth Amendment Effective Date in an aggregate principal amount of Four Million Dollars ($4,000,000) (the “Tranche III Term Loan” or “Tranche III Term Loans”, and together with the Tranche I Term Loan and the Tranche II Term Loans, each a “Term Loan” and collectively the “Term Loans”).
Borrower may request Tranche II Term Loans at any time from the date hereof through the Availability End Date, provided that each Tranche II Term Loan so requested shall be in the principal amount of $250,000 or an integral multiple thereof.
The proceeds of the Tranche II Term Loans shall be used for general working capital purposes and for capital expenditures.
The Tranche II Loans to be made pursuant to any Tranche II Agreement in response to any such request by the Borrower shall be deemed to be a separate "SERIES" of Tranche II Revolving Loans or Tranche II Term Loans, as applicable, for all purposes of this Agreement.
For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a "Tranche I Revolving Loan") or by Type (e.g., a "Eurodollar Loan") or by Class and Type (e.g., a "Eurodollar Tranche I Revolving Loan"); each Series of Tranche II Term Loans shall be deemed a separate Class of Loans hereunder.
Amounts to be applied pursuant to this Section 2.10(b) shall be applied, first, to prepay the Tranche II Term Loans on a pro rata basis among the Tranche II Term Lenders and, second, to prepay the Tranche I Term Loans on a pro rata basis among the Tranche I Term Lenders.