Common use of Acquisition Loan Commitment Clause in Contracts

Acquisition Loan Commitment. Pursuant to the terms and conditions of the Prior Agreement, Bank made a term loan (the "Acquisition Loan") to Borrower in a single disbursement in the original principal amount of Ten Million Dollars ($10,000,000). Immediately prior to the date of this Agreement, the outstanding principal amount of the Acquisition Loan was Six Million One Hundred Eleven Thousand One Hundred Eleven and 22/100 Dollars ($6,111,111.22) (the "Acquisition Loan Commitment"). Borrower's obligation to repay the principal amount of the Acquisition Loan, together with accrued interest thereon, shall be evidenced by a promissory note (the "Acquisition Note") issued by Borrower in favor of Bank on the standard form used by Bank to evidence its commercial loans. The Acquisition Note shall replace and supersede that certain replacement Acquisition Note dated as of May 1, 2002, issued by Borrower in favor of Bank pursuant to the Prior Agreement. The Acquisition Note shall provide for payments of principal and interest as set forth therein. On December 1, 2004 (the "Acquisition Loan Maturity Date"), all unpaid principal of and accrued but unpaid interest on the Acquisition Loan shall be due and payable. The proceeds of the Acquisition Loan were disbursed for the purposes set forth in Section 2.4(b) hereof pursuant to disbursement instructions provided to Bank on Bank's standard form therefor.

Acquisition Loan Commitment. Pursuant Subject to the terms and conditions of the Prior this Agreement, during the period from the date of this Agreement to but excluding December 29, 2000, provided that no Event of Default then has occurred and is continuing, Bank made will make a term loan (the "Acquisition Loan") to Borrower in a single disbursement as Borrower may request in the original principal amount of Ten Million Dollars ($10,000,000). Immediately prior to the date of this Agreement, the outstanding principal amount of the Acquisition Loan was Six Million One Hundred Eleven Thousand One Hundred Eleven and 22/100 Dollars ($6,111,111.22) (the "Acquisition Loan Commitment"). Borrower's obligation to repay the principal amount of the Acquisition Loan, together with accrued interest thereon, shall be evidenced by a promissory note issued by Borrower in favor of Bank (the "Acquisition Note") issued by Borrower in favor of Bank on the standard form used by Bank to evidence its commercial loans. The Acquisition Note shall replace and supersede that certain replacement Acquisition Promissory Note (Base Rate) dated as of May 1June 12, 20022000, issued by Borrower in favor of Bank pursuant to the Prior Agreement. The Acquisition Note shall provide for payments of principal and interest as set forth therein. On December 1, 2004 the Business Day that is exactly four (4) years after the date of the Acquisition Loan (the "Acquisition Loan Maturity Date"), all unpaid principal of and accrued but unpaid interest on the Acquisition Loan shall be due and payable. The proceeds of the Acquisition Loan were shall be disbursed for the purposes set forth in Section 2.4(b) hereof pursuant to disbursement instructions provided to Bank on Bank's standard form therefor.