Maximum Commitment. The Bank agrees to extend the following credit term facilities: (a) a term loan (the "Term Loan") in the original principal amount of $20,600,000, evidenced by the Second Amended and Restated Term Promissory Note dated as of the date hereof in the amount of $12,800,000, payable by the Company to the Bank in 19 equal quarterly installments of principal of $600,000 plus interest commencing August 1, 2006 and terminating on March 1, 2011 (the "Term Loan Maturity Date") pursuant to the terms thereof and Section 1.4 hereof (the "Term Note"), (b) a revolving loan in the original principal amount of $15,000,000 pursuant to the terms of a Second Amended and Restated Revolving Credit Note dated as of the date hereof (the "Revolving Note") and (c) a term loan in the maximum amount of $2,375,000 pursuant to the terms of a Draw Promissory Note dated as of the date hereof (the "Draw Note" and, collectively with the Revolving Note and the Term Note, the "Notes"). The maximum amount of all outstanding Loans of the Bank to the Company under this Agreement shall not exceed $30,175,000 (the "Maximum Commitment"). The Maximum Commitment of the Bank as adjusted from time to time is hereinafter called the "Commitment" of the Bank.
Appears in 1 contract
Sources: Revolving Credit Agreement (Max & Ermas Restaurants Inc)
Maximum Commitment. The Bank agrees to extend the following credit term facilities: (a) a term loan (the "Term Loan") in the original principal amount of $20,600,000, evidenced by the Second Amended and Restated Term Promissory Note dated as of the date hereof March 1, 2003 in the amount of $12,800,00020,600,000 (which $19,400,000 is currently the outstanding principal balance), payable by the Company to the Bank in 19 12 equal quarterly installments of principal of $600,000 plus interest commencing August May 1, 2006 2003 and terminating on March 1, 2011 2006 (the "Term Loan Maturity Date") pursuant to the terms thereof and Section 1.4 hereof, as such Term Loan Maturity Date may be extended pursuant to Section 1.1.4 hereof (the "Term Note"), (b) a revolving loan in the original principal amount of $15,000,000 pursuant to the terms of a Second an Amended and Restated Revolving Credit Note dated as of the date hereof March 1, 2003 (the "Revolving Note") and (c) a multiple draw term loan in the maximum amount of $2,375,000 6,000,000 pursuant to the terms of a Draw Promissory Note dated as of the date hereof (the "Draw Note" and, collectively with the Revolving Note and the Term Note, the "Notes"). The maximum amount of all outstanding Loans of the Bank to the Company under this Agreement shall not exceed $30,175,000 40,400,000 (the "Maximum Commitment"). The Maximum Commitment of the Bank as adjusted from time to time is hereinafter called the "Commitment" of the Bank.
Appears in 1 contract
Sources: Revolving Credit Agreement (Max & Ermas Restaurants Inc)
Maximum Commitment. The Bank agrees to extend the following credit term facilities: (a) a term loan (the "Term Loan") in the original principal amount of $20,600,00023,000,000, evidenced by the Second Amended and Restated Term Promissory Note dated as of the date hereof in the amount of $12,800,00023,000,000, payable by the Company to the Bank in 19 12 equal quarterly installments of principal of $600,000 plus interest commencing August May 1, 2006 2002 and terminating on March February 1, 2011 2005 (the "Term Loan Maturity Date") pursuant to the terms thereof and Section 1.4 hereof, as such Term Loan Maturity Date may be extended pursuant to Section 1.1.4 hereof (the "Term Note"), ) and (b) a revolving loan in the original principal amount of $15,000,000 12,800,000 pursuant to the terms of a Second Amended and Restated Revolving Credit Note dated as of the date hereof (the "Revolving Note") and (c) a term loan in the maximum amount of $2,375,000 pursuant to the terms of a Draw Promissory Note dated as of the date hereof (the "Draw Note" and, collectively with the Revolving Note and the Term Note, the "Notes"). The maximum amount of all outstanding Loans of the Bank to the Company under this Agreement shall not exceed $30,175,000 35,800,000 (the "Maximum Commitment"). The Maximum Commitment of the Bank as adjusted from time to time is hereinafter called the "Commitment" of the Bank.
Appears in 1 contract
Sources: Revolving Credit Agreement (Max & Ermas Restaurants Inc)