Facility B Advances. Except as set forth in Section 2.3(b), the Facility B Advances shall bear interest, on the outstanding daily balance thereof, at a variable rate equal to two percent (2%) above the Prime Rate.
Facility B Advances. The Pro Rata Share of any Lender of the Facility B Loan shall not at any time exceed such Lender's Facility B Commitment. The obligations of each Lender hereunder shall be several and not joint. Until the Facility B Commitment Termination Date, Borrowers may from time to time borrow, repay and reborrow under this Section 2.2. After the Facility B Commitment Termination Date, amounts repaid or prepaid may not be reborrowed under this Section 2.2.
Facility B Advances. Each Lender severally agrees, upon the terms and ------------------- subject to the conditions of this Agreement, to purchase on the Agreement Date a portion, equal to its Specified Percentage of the Facility B Commitment, of the then-outstanding balance of the Facility B Advances under the Existing Credit Agreement. Notwithstanding any provision in any Loan Document to the contrary, in no event shall the principal amount of all outstanding Facility B Advances exceed the Facility B Commitment. Facility B Advances may not be repaid and then reborrowed. The Borrower hereby acknowledges and agrees that the "Facility B Commitment Termination" (as such term is defined in the Existing Credit Agreement) has heretofore occurred and that, except as provided herein with respect to the purchase by the Lenders of the outstanding Facility B Advances under the Existing Credit Agreement as of the Agreement Date, none of the Lenders under the Existing Credit Agreement or hereunder have any obligation to make any further or additional Facility B Advance(s) thereunder or hereunder.
Facility B Advances. To the extent not otherwise required to be paid ------------------- earlier as provided herein, the principal amount of the Facility B Advances shall be repaid on each of the following dates in such amounts as set forth next to each such date below: Amount of Reduction of Payment Date Facility B Advances as of each Date ------------ ----------------------------------- April 1, 1999 $ 500,000 July 1, 1999 $ 500,000 October 1, 1999 $ 500,000 January 1, 2000 $1,000,000 April 1, 2000 $1,000,000 July 1, 2000 $1,000,000 October 1, 2000 $1,000,000 January 1, 2001 $2,000,000 April 1, 2001 $2,000,000 July 1, 2001 $2,000,000 October 1, 2001 $2,000,000 January 1, 2002 $2,000,000 April 1, 2002 $2,000,000 July 1, 2002 $2,000,000 April 30, 2002 $2,000,000 Facility B Maturity Date $3,500,000 or such other amount of Facility B Advances then outstanding To the extent not otherwise required to be paid earlier as provided herein, the principal amount of the Facility B Advances, all accrued interest and fees thereon, and all other Obligations related thereto, shall be due and payable in full on the Facility B Maturity Date.
Facility B Advances. Each Lender severally agrees, upon the terms and subject to the conditions of this Agreement, to make a one-time Facility B Advance to the Borrower prior to or on the Facility B Commitment Termination Date in an amount not to exceed its Specified Percentage of the Facility B Commitment for the purposes set forth in SECTION 5.8(b) hereof. Notwithstanding any provision in any Loan Document to the contrary, in no event shall the principal amount of all outstanding Facility B Advances exceed the Facility B Commitment. Facility B Advances may not be repaid and then reborrowed.
Facility B Advances. Subject to the terms and conditions herein, the Lender agrees to make Facility B Advances to O.S.I. Puerto Rico, from time to time on any Business Day from the Closing Date through April 30, 2000, in an aggregate principal amount outstanding at any time not to exceed the Facility B Amount, as such Facility B Amount may be reduced from time to time in accordance with the provisions of this Agreement. Notwithstanding the preceding sentence or any other provision hereof to the contrary, O.S.I. Puerto Rico may not request, and the Bank shall have no obligation to make, Negotiated Rate Advances prior to May 1, 2000. From and after May 1, 2000, subject to the terms and conditions hereof, O.S.I. Puerto Rico may request that outstanding Base Rate Advances and outstanding Eurodollar Rate Advances under Facility B be converted into Negotiated Rate Advances pursuant to Section 2.8 of this Agreement. Facility B Advances which are repaid or prepaid by O.S.I. Puerto Rico may not be reborrowed.
Facility B Advances. (A) Amount. From time to time before the Commitment Termination Date, each Facility B Bank severally agrees, subject to the terms and conditions of this Agreement, including, but not limited to, the conditions precedent contained in Article IV hereof, to make revolving loans to the Borrower for the purposes described in Section 2.11(ii) ("Revolving B Loans"), provided that, after giving effect to the making of each such Loan (i) such Bank's Outstanding Credit Exposure in respect of Facility B shall not exceed its Facility B Commitment and (ii) such Bank's Outstanding Credit Exposure shall not exceed its Total Commitment. In no event may the Aggregate Outstanding Credit Exposure under Facility B exceed the amount of the Aggregate Commitment with respect to such Facility. Each Advance under Facility B shall consist of Revolving B Loans made by each Facility B Bank ratably in proportion to such Bank's respective Facility B Percentage. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow under Facility B at any time prior to the Commitment Termination Date. In accordance with the terms of this Agreement, at the Borrower's option, borrowings under Facility B may be Base Rate Advances or LIBOR Advances or a combination thereof in principal amounts of $1,000,000 or larger integral multiples thereof, as more fully described in this Agreement.
Facility B Advances. Subject to the terms and conditions hereof, each Lender agrees to make advances to Borrower (herein called such Lender's "Facility B Advances") upon request from time to time during the Facility B Commitment Period so long as (a) each Facility B Advance by such Lender does not exceed such Lender's Facility B Percentage Share of the aggregate amount of Facility B Advances then requested from all Lenders, (b) the aggregate amount of such Lender's Facility B Advances outstanding at any time does not exceed such Lender's Facility B Percentage Share of the Facility B Maximum Loan Amount, determined as of the date on which the requested Facility B Advance is to be made, and (b) the aggregate amount of all Facility B Advances does not exceed 58704 08037 CORP 133021 6 the Facility B Maximum Loan Amount. The aggregate amount of all Facility B Advances requested of all Lenders in any Request for Advance must be greater than or equal to $100,000 or must equal the unadvanced portion of the Facility B Maximum Loan Amount. Upon Borrower's request in compliance with Section 2.2, one or more Facility B Advances in an aggregate amount of up to $5,000,000 shall be made in the first allotment (the "First Allotment"), one or more Facility B Advances in an additional aggregate amount of up to $5,000,000 shall be made in the second allotment (the "Second Allotment"), and one or more Facility B Advances in an additional aggregate amount of up to $4,000,000 shall be made in the third allotment (the "Third Allotment"). The obligation of Borrower to repay to each Lender the aggregate amount of all Facility B Advances made by such Lender (herein called such Lender's "Facility B Loan"), together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender's "Facility B Note") made by Borrower payable to the order of each such Lender in the form of Exhibit A-2 with appropriate insertions. The amount of principal owing on any Lender's Facility B Note at any given time shall be the aggregate amount of all Facility B Advances theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Facility B Note. Interest on each Facility B Note shall accrue and be due and payable as provided herein and therein. Borrower may not borrow, repay, and reborrow hereunder during the Facility B Commitment Period.
Facility B Advances. 19 (c) Use of Proceeds........................................... 19 SECTION 2.2. Mechanics of Advances..................................... 19 (a) Borrowings................................................ 19 (b)
Facility B Advances. Subject to the terms and conditions herein, the Lender agrees to make Facility B Advances to O.S.I. Puerto Rico, from time to time on any Business Day from the Closing Date through October 31, 1999, in an aggregate principal amount outstanding at any time not to exceed the Facility B Amount, as such Facility B Amount may be reduced from time to time in accordance with the provisions of this Agreement. Notwithstanding the preceding sentence or any other provision hereof to the contrary, O.S.I. Puerto Rico may not request, and the Bank shall have no obligation to make, Negotiated Rate Advances prior to November 1, 1999. From and after November 1, 1999, subject to the terms and conditions hereof, O.S.I. Puerto Rico may
