Existing Term Loan. On the Closing Date, the Existing Term Lenders made Existing Term Loans to the Borrower pursuant to Section 2.01(a) of this Agreement as in effect on the Closing Date.
Existing Term Loan. Subject to Section 2.8(b), the principal amount outstanding under the Existing Term Loan shall accrue interest at a floating per annum rate equal to one and one-quarter of one percent (1.25%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.8(d) below.
Existing Term Loan. Borrowers shall repay the outstanding principal amount of the Existing Term Loan in full, together with any accrued but unpaid interest on the Maturity Date.”
Existing Term Loan. (1) Subject to the terms and conditions hereof, each Lender with an Existing Term Loan Commitment agrees that the loans comprising the “Term Loan B” under, and as defined in, the Prior Credit Agreement shall remain outstanding on and after the Closing Date as term loans (collectively, the “Existing Term Loan”) made pursuant to this Agreement, and such loans shall be deemed to be made in satisfaction of its obligation to make its Pro Rata Share of the Existing Term Loan on the Closing Date. Upon request by any Lender with a Existing Term Loan Commitment, each Borrower shall execute and deliver to such Lender a promissory note substantially in the form of Exhibit 1.1(b)(i) (each an “Existing Term Loan Note” and collectively the “Existing Term Loan Notes”). Each Existing Term Loan Note (or, if an Existing Term Loan Note is not requested, this Agreement) shall represent the joint and several obligation of Borrowers to pay the applicable Existing Term Loan Commitment, together with interest hereon as prescribed in Section 1.5.
Existing Term Loan. Pursuant to the Existing Agreement, the Term Lenders thereunder have made Term Loans in the aggregate principal amount of the Term Commitment (the “Existing Term Loans”). Such Existing Term Loans shall continue to be outstanding under this Agreement as Term Loans. On the Closing Date, the Existing Term Loans by the Term Loan Lenders are as set forth on Appendix A attached hereto. On the Third Amendment Effective Date, the Existing Term Loans by the Term Loan Lenders are as set forth on Appendix A to the Third Amendment.
Existing Term Loan. For clarification purposes, the parties hereto acknowledge that as of the date hereof, the Existing Term Loan (as defined in the Credit Agreement as amended by this Amendment) has been repaid in full. 6.
Existing Term Loan. (a) Subject to and upon the terms and conditions contained herein, Agent, Lenders and Borrowers are amending and restating the term loans made by Agent and Lenders to Xxxxxx and Lernco pursuant to the Existing Loan Agreement in the original principal amount of $37,500,000 (the “Existing Term Loan”). Each of Borrowers and Guarantors hereby acknowledges, confirms and agrees that Xxxxxx and Lernco are indebted to Agent and Lenders as of the date hereof in respect of the Obligations arising in connection with the Existing Term Loan in the aggregate principal amount of $28,500,000 (the “Existing Term Loan Balance”), together with interest accrued and accruing thereon and costs, expenses, fees (including attorneys’ fees and legal expenses) and other charges now or hereafter owed by Xxxxxx and Lernco to Agent and Lenders attributable to the Existing Term Loan Balance, all of which are unconditionally owing by Xxxxxx and Lernco to Agent and Lenders, without offset, defense or counterclaim of any kind, nature and description whatsoever.
Existing Term Loan. The Administrative Agent shall have received evidence that the Existing Term Loan has been, or concurrently with the Closing Date is being paid off in full and/or converted to equity in Guarantor and all liens on assets of the Borrower Group Members securing obligations under the Existing Term Loan have been, or concurrently with the Closing Date are being, released.
Existing Term Loan. The Company shall repay the outstanding principal amount of the Existing Term Loan in installments on the dates and in the amounts set forth in the table below (as such installments may hereafter be adjusted as a result of prepayments of the Existing Term Loan made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 8.01: Payment Dates Principal Amortization Payment(% of principal of the Existing Term Loan) September 30, 2018 0.625% December 31, 2018 0.625% March 31, 2019 0.625% June 30, 2019 0.625% September 30, 2019 1.250% December 31, 2019 1.250% March 31, 2020 1.250% June 30, 2020 1.250% September 30, 2020 1.250% December 31, 2020 1.250% March 31, 2021 1.250% June 30, 2021 1.250% September 30, 2021 1.875% December 31, 2021 1.875% March 31, 2022 1.875% June 30, 2022 1.875% September 30, 2022 2.500% December 31, 2022 2.500% March 31, 2023 2.500% Maturity Date Outstanding Principal Balanceof the Existing Term Loan If any date set for payment is not a Business Day, the payment to be made on such payment date shall be made on the immediately prior Business Day.
Existing Term Loan. Except as set forth in Section 2.2(b), the Existing Term Loan shall bear interest, on the outstanding daily balance thereof, at a rate equal to 1.00% above the Prime Rate.
