Initial Term Loans Sample Clauses

Initial Term Loans. Subject to the terms and conditions hereof, each Lender holding an Initial Term Loan Commitment severally agrees to make, in Dollars, in a single draw on the Closing Date, one or more term loans (each, an “Initial Term Loan”) to the Borrower in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name in Schedule A under the heading “Initial Term Loan Commitment”, as such amount may be adjusted or reduced pursuant to the terms hereof, which Initial Term Loans: (i) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans; and (ii) shall be made by each such Lender in an aggregate principal amount which does not exceed the Initial Term Loan Commitment of such Lender. Once repaid, Initial Term Loans incurred hereunder may not be reborrowed. On the Closing Date (after giving effect to the incurrence of Initial Term Loans on such date), the Initial Term Loan Commitment of each Lender shall terminate.

Initial Term Loans. The Borrowers shall repay to the Administrative Agent for the ratable account of the applicable Term Lenders the aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)):

Initial Term Loans. Each Lender agrees, severally on a Pro Rata basis up to its Initial Term Loan Commitment, on the terms set forth herein, to make its portion of the Initial Term Loan to the Borrowers. The Initial Term Loan shall be funded by Lenders on the Closing Date. The Initial Term Loan Commitment of each Lender shall expire upon the funding by Lenders of the Initial Term Loan on the Closing Date. Once repaid, whether such repayment is voluntary or required, Initial Term Loans may not be reborrowed.

Initial Term Loans. (i) Prior to the Delayed Draw Expiration Date, the Borrower shall repay Initial Term Loans (including any Delayed Draw Term Loans), in an amount equal to $3,750,000 on the last Business Day of each calendar quarter commencing March 31, 2012 and (ii) after the Delayed Draw Expiration Date, the Borrower shall repay the aggregate outstanding principal amount of the Term Loan (other than each Incremental Term Loan, if any) in consecutive quarterly installments on the last Business Day of each calendar quarter commencing with the first calendar quarter ending after the Delayed Draw Expiration Date in an amount equal to the percentage of the initial principal amount of all Term Loans (other than each Incremental Term Loan, if any) funded hereunder set forth below that corresponds to such calendar quarter end, in each case except as the amounts of individual installments may be adjusted pursuant to Section 4.4 hereof: 2012 March 31 2.5% June 30 2.5% September 30 2.5% December 31 2.5% 2013 March 31 2.5% June 30 2.5% September 30 2.5% December 31 2.5% 2014 March 31 3.75% June 30 3.75% September 30 3.75% December 31 3.75% 2015 March 31 3.75% June 30 3.75% September 30 3.75% December 31 3.75% 2016 March 31 12.5% June 30 12.5% September 30 12.5% Term Loan Maturity Date Remaining Outstanding Principal Amount If not sooner paid, the Term Loans (other than any Incremental Term Loans) shall be paid in full, together with accrued interest thereon, on the Term Loan Maturity Date. Notwithstanding the foregoing, in the event that the entire aggregate principal amount of the Delayed Draw Commitment is not borrowed as of the Delayed Draw Expiration Date, the amount of the installment payment set forth above for December 31, 2012 shall be reduced to an amount that would cause the aggregate installment payments in fiscal year 2012 to equal ten percent (10%) of the aggregate initial principal amount of the Initial Term Loans actually borrowed as of the Delayed Draw Expiration Date (with such principal amount to be calculated based on each initial principal amount borrowed without giving effect to subsequent installment payments or prepayments).

Initial Term Loans. Subject to the terms and conditions set forth herein, each Initial Term Loan Lender severally, and not jointly, agrees to make Initial Term Loans to the Borrower on the Effective Date in a principal amount equal to such Initial Term Loan Lender’s Initial Term Loan Commitment; provided that the Initial Term Loans shall be issued with an original issue discount of 3.0% of par. Amounts paid or prepaid in respect of the Initial Term Loans may not be reborrowed.

Initial Term Loans. Prior to the Closing Date, certain term loans were previously made to the Borrower under the Existing Credit Agreement which remain outstanding as of the Closing Date (such outstanding term loans being hereinafter referred to as the “Existing Term Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Closing Date, but subject to the reallocation and other transactions described in Section 1.4, the Existing Term Loans shall be re-evidenced as Initial Term Loans under this Agreement and the terms of the Existing Term Loans shall be restated in their entirety and shall be evidenced by this Agreement. As of the Closing Date, the Initial Terms Loans are funded and such amounts may not be reborrowed. The commitments of the “Term A-1 Lenders” under the Existing Credit Agreement (including, for the avoidance of doubt, such Term A-1 Lenders constituting Initial Term Lenders) to fund the Initial Term Loans terminated immediately following the funding of the Initial Term Loans on the Original Closing Date. The Initial Term Loans are denominated solely in Dollars and may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in Section 2.8 and subject to the other conditions and limitations therein set forth and set forth in this Article II and set forth in the definition of Interest Period. Additionally, the Borrower shall make the scheduled repayment installments of principal prescribed in Section 2.4.2 and the mandatory prepayments prescribed in Section 2.4.4.

Initial Term Loans. (a) Subject to the terms and conditions hereof, each Lender holding an Original Initial Term Loan Commitment severally agrees to make, in Dollars, in a single draw on the Closing Date, one or more term loans (each, an “Original Initial Term Loan”) to the Borrower in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name in Schedule A under the heading “Original Initial Term Loan Commitment”, as such amount may be adjusted or reduced pursuant to the terms hereof, which Original Initial Term Loans: (i) except as hereinafter provided, shall, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans; and (ii) shall be made by each such Lender in an aggregate principal amount which does not exceed the Original Initial Term Loan Commitment of such Lender. Without limitation of Subsections 2.8 and 8.1(b)(i), once repaid, Original Initial Term Loans incurred hereunder may not be reborrowed. On the Closing Date (after giving effect to the incurrence of Original Initial Term Loans on such date), the Original Initial Term Loan Commitments of each Lender shall terminate. (i) Subject to the terms and conditions hereof, each Lender listed on Schedule A-1 under the heading “Tranche B Term Loan Commitment” attached hereto (the “New Tranche B Term Lenders”) severally agrees to make, in Dollars, in a single draw on the First Amendment Effective Date, one or more term loans (each, a “New Tranche B Term Loan” and, collectively with the term loans representing the Original Initial Term Loans exchanged by the Existing Term Lenders by exercising a cashless rollover pursuant to Subsection 4.4(g), the “Tranche B Term Loans”) to the Borrower in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name in Schedule A-1 under the heading “Tranche B Term Loan Commitment”, as such amount may be adjusted or reduced pursuant to the terms hereof; provided that Exchanging Term Lenders shall make their respective Tranche B Term Loans by exchanging their Original Initial Term Loans for Tranche B Term Loans constituting Rollover Indebtedness in lieu of their pro rata portion of the prepayment of Original Initial Term Loans pursuant to Subsection 4.4(g).

Initial Term Loans. Subject to the terms and conditions set forth herein, certain Term Lenders made Initial Term Loans to the Borrower on the Initial Term Loan Borrowing Date. Amounts repaid or prepaid in respect of Initial Term Loans may not be reborrowed.

Initial Term Loans. Subject to the terms and conditions hereof, each Initial Term Loan Lender severally agrees to make in a single draw on the Restatement Effective Date, one or more term loans in Dollars to the Borrower in an aggregate principal amount not to exceed the amount set forth opposite such Initial Term Loan Lender’s name on Schedule A hereto under the heading “Term Loan Commitment,” as such amount may be adjusted or reduced pursuant to the terms hereof, which term loans may be made in cash or, if agreed by the Borrower, by exchange of all or any portion of such Initial Term Loan Lender’s Term Loans (as defined under the Original Term Loan Credit Agreement) outstanding immediately prior to the Restatement Effective Date into Initial Term Loans pursuant to the Second Amendment, or a combination thereof.