Advancing Term Loan Sample Clauses

Advancing Term Loan. Subject to the terms of this Agreement and in reliance on Borrower's representations and warranties in the Loan Documents, Lender agrees to establish the Advancing Term Loan. THEREFORE, FOR VALUE RECEIVED, Borrower promises to pay to the order of Lender the Advancing Term Loan Maximum Principal Amount with fees, costs and interest as set forth in, and payable (in Dollars at Lender's Offices) pursuant to, this Agreement. The funding and closing of the Advancing Term Loan will take place in Lender's Offices or at such other place as Lender may designate.
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Advancing Term Loan. Subject to Borrower's satisfactory performance of the terms and conditions contained in this Amendment and the other Loan Documents, Lender agrees to establish a new advancing term loan (to be referred to as the Advancing Term Loan) to the Borrower on the Effective Date of this Amendment in the maximum principal amount of $3,000,000. Accordingly, the Loan Agreement is hereby amended as follows:
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Advancing Term Loan. A new Section 2.7 is hereby added to the Loan Agreement to read as follows:
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Advancing Term Loan. Subject to the terms and conditions of this Agreement, each Term Loan Lender severally agrees to make, prior to the Term Loan Advancing Termination Date, one or more advances to Borrowers in an amount not to exceed such Term Loan Lender’s Term Loan Commitment for the purposes set forth in Section 5.10 (and the amount of all such advances of Term Loans made by all Term Loan Lenders in the aggregate shall not to exceed the Term Loan Maximum Amount). Borrowers may borrow Term Loans at any time and from time to time from the Closing Date to the earlier of (i) the Term Loan Advancing Termination Date or (ii) the termination of each Lender’s Commitment hereunder. If, by virtue of payments made on the Term Loan Notes, the principal amount owed on the Term Loan Notes during their term reaches zero at any point, Borrowers agree that all of the Collateral and all of the Loan Documents shall remain in full force and effect to secure any Term Loans made thereafter or other Obligations under the Loan Documents, and Administrative Agent, Lenders and Secured Parties shall be fully entitled to rely on all of the Collateral and all of the Loan Documents unless an appropriate release of all or any part of the Collateral or all or any part of the Loan Documents has been executed by Administrative Agent in accordance with Sections 10.9 and 11.10 and the other requirements of this Agreement. Borrowers may not borrow, repay, and reborrow the Term Loans. Credit Agreement and Guaranty – Page 31
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Advancing Term Loan. Subject to, and upon the terms, conditions, covenants and agreements contained herein, and in reliance upon the covenants, agreements, representations and warranties of Obligor(s) set forth herein, and provided that at the time of any proposed borrowing hereunder no Default exists, Bank agrees to make, at any time and from time to time prior to the Advancing Term Loan Drawdown Termination Date, one or more Advances to Borrower up to the aggregate maximum principal amount of Twelve Million and No/100 Dollars ($12,000,000.00), which Advances shall be evidenced by the Advancing Term Note. In no event shall the aggregate of all Advances under the Advancing Term Note exceed Twelve Million and No/100 Dollars ($12,000,000.00). Principal amounts evidenced by the Advancing Term Note which are repaid may not be reborrowed. Bank’s business records shall be prima facie evidence of the unpaid principal amount of the Advancing Term Note, and the amount of accrued but unpaid interest. The principal of and interest to accrue on the Advancing Term Note shall be due and payable as follows:
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Advancing Term Loan. Subject to Subsection (b) below, the unpaid principal balance of the Advancing Term Note shall bear interest at the lesser of the Advancing Term Loan Rate or the Maximum Rate.
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Advancing Term Loan. Section 2.3(b) of the Loan Agreement is hereby amended in its entirety to read as follows:
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Advancing Term Loan. Subject to the terms and conditions set forth in this Agreement and the other Loan Documents, Lender hereby agrees to lend to Debtor an outstanding principal amount of up to TWENTY MILLION DOLLARS ($20,000,000.00) (the “Credit Facility”), which may be advanced in one or more Advances from the Effective Date until the earliest of: (i) the SIX (6) month anniversary of the Effective Date, (ii) the occurrence and during the continuance of an Amortization Event or (iii) the acceleration of the Indebtedness pursuant to the terms of this Agreement. Prior to the Maturity Date, Lender may approve in its sole discretion (and upon such terms as may be mutually agreed by Lender and Debtor) an increase in the Credit Facility to an amount not to exceed FORTY MILLION DOLLARS ($40,000,000.00) upon the written request of Debtor and as accepted in writing by Lender.
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Advancing Term Loan. A term loan, available in multiple Advances (the "Advancing Term Loan"), in an aggregate principal amount not to exceed $1,000,000 (the "Advancing Term Loan Commitment Amount").
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Related to Advancing Term Loan

  • Refinancing Term Loans (a) The Borrower may by written notice to Administrative Agent elect to request the establishment of one or more additional tranches of term loans denominated in Dollars under this Agreement (“Refinancing Term Loans”) to refinance an outstanding Class of Term Loans. Each such notice shall specify the date (each, a “Refinancing Effective Date”) on which the Borrower proposes that the Refinancing Term Loans shall be made, which shall be a date not less than five Business Days after the date on which such notice is delivered to the Administrative Agent; provided that:

  • Repayment of Term Loan The principal amount of the Term Loan shall be repaid in consecutive quarterly installments as follows, unless accelerated sooner pursuant to Section 7.2: Principal Amortization Payment Dates Term Loan Principal Amortization Payment September 30, 2007 $ 559,375 December 31, 2007 $ 559,375 March 31, 2008 $ 559,375 June 30, 2008 $ 559,375 September 30, 2008 $ 1,118,750 December 31, 2008 $ 1,118,750 March 31, 2009 $ 1,118,750 June 30, 2009 $ 1,118,750 September 30, 2009 $ 1,678,175 December 31, 2009 $ 1,678,175 March 31, 2010 $ 1,678,175 June 30, 2010 $ 1,678,175 September 30, 2010 $ 2,237,500 December 31, 2010 $ 2,237,500 March 31, 2011 $ 2,237,500 June 30, 2011 $ 2,237,500 September 30, 2011 $ 2,237,500 December 31, 2011 $ 2,237,500 March 31, 2012 $ 2,237,500 Term Loan Maturity Date The remaining outstanding principal amount of the Term Loan

  • The Term Loan On the terms and conditions set forth in the MLA and this Promissory Note and Supplement, CoBank agrees to make a loan to the Company in an amount not to exceed $20,000,000.00 (the “Commitment”). The Commitment shall expire at 12:00 noon (Company’s local time) on January 30, 2012, or on such later date as CoBank may, in its sole discretion, authorize in writing.

  • Permitted Prepayment of Term Loans Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least thirty (30) days prior to such prepayment, and (ii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

  • Initial Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 12:00 p.m. on the Closing Date requesting that the Term Loan Lenders make the Initial Term Loan as a Base Rate Loan on such date (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Lenders make the Initial Term Loan as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 2:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Initial Term Loan to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Initial Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.

  • Repayment of Term Loans The Tranche B Term Loan of each Tranche B Term Lender shall mature in 27 consecutive quarterly installments, commencing on June 30, 2004, each of which shall be in an amount equal to such Lender’s Tranche B Term Percentage multiplied by the amount set forth below opposite such installment: Installment Principal Amount June 30, 2004 $ 462,500 September 30, 2004 $ 462,500 December 31, 2004 $ 462,500 March 31, 2005 $ 462,500 June 30, 2005 $ 462,500 September 30, 2005 $ 462,500 December 31, 2005 $ 462,500 March 31, 2006 $ 462,500 June 30, 2006 $ 462,500 September 30, 2006 $ 462,500 December 31, 2006 $ 462,500 March 31, 2007 $ 462,500 June 30, 2007 $ 462,500 September 30, 2007 $ 462,500 December 31, 2007 $ 462,500 March 31, 2008 $ 462,500 June 30, 2008 $ 462,500 September 30, 2008 $ 462,500 December 31, 2008 $ 462,500 March 31, 2009 $ 462,500 June 30, 2009 $ 462,500 September 30, 2009 $ 462,500 December 31, 2009 $ 462,500 March 31, 2010 $ 43,590,625 June 30, 2010 $ 43,590,625 September 30, 2010 $ 43,590,625 The date which is the seventh anniversary of the Closing Date $ 43,590,625

  • Delayed Draw Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 11:00 a.m. (i) on the same Business Day as each Base Rate Loan and (ii) at least three (3) Business Days before each LIBOR Rate Loan (provided that the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement), of its intention to borrow, specifying (A) the date of such borrowing (the “Delayed Draw Funding Date”), which shall be a Business Day, (B) the amount of such borrowing, which shall be, (x) with respect to Base Rate Loans in an aggregate principal amount of $3,000,000 or a whole multiple of $1,000,000 in excess thereof, (y) with respect to LIBOR Rate Loans in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof, (C) whether the Loans are to be LIBOR Rate Loans or Base Rate Loans, and (D) in the case of a LIBOR Rate Loan, the duration of the Interest Period applicable thereto; provided, that the Delayed Draw Term Loan shall be made in one drawing on the Delayed Draw Funding Date. Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 1:00 p.m. on the proposed Delayed Draw Funding Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Delayed Draw Term Loan to be made by such Term Loan Lender on the Delayed Draw Funding Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Delayed Draw Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing; provided that to the extent the proceeds of the Delayed Draw Term Loan funded on the Delayed Draw Funding Date, together with the Cash Contribution, exceed an amount equal to the Cash Percentage of the total Acquisition Consideration payable in accordance with the Tender Offer Document in respect of the Company Shares accepted in the Tender Offer on the Delayed Draw Funding Date plus Transaction Costs then due and payable (the “Excess Term Loan Proceeds”), such Excess Term Loan Proceeds shall be funded directly into the Escrow Account in accordance with the Escrow Agreement; it being agreed that the principal amount of each Delayed Draw Term Loan owing hereunder shall be an amount equal to 100% of the applicable Lender’s Term Loan Commitment with respect to the Delayed Draw Term Loan.

  • Tranche B Term Loans Each Lender that has a Tranche B Term Loan Commitment severally agrees to lend to Borrower on the Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Tranche B Term Loan Commitments to be used for the purposes identified in subsection 2.5A. Borrower shall deliver to Administrative Agent a Notice of Borrowing no later than 12:00 Noon (New York City time) at least one Business Day prior to the Closing Date, requesting a borrowing of the Tranche B Term Loans. The Notice of Borrowing shall specify (i) the proposed Funding Date (which shall be a Business Day), and (ii) that such Loans shall be Base Rate Loans. The aggregate amount of the Tranche B Term Loan Commitments is $45,000,000; PROVIDED that the Tranche B Term Loan Commitments of Lenders shall be adjusted to (1) give effect to any assignments of the Tranche B Term Loan Commitments pursuant to subsection 10.1B and (2) any increase in Tranche B Term Loans pursuant to subsection 2.1A(iv). Each Lender's Tranche B Term Loan Commitment shall expire immediately and without further action on March 31, 2002 if the Tranche B Term Loans have not been made on or before that date. Subject to subsection 2.1A(iv), Borrower may make only one borrowing under the Tranche B Term Loan Commitments. Amounts 35 borrowed under this subsection 2.1A(ii) and subsequently repaid or prepaid may not be reborrowed.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

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