Second Term Loan. Subject to the terms and conditions set forth in this Credit Agreement, and in reliance on the representations and warranties of the Borrowers set forth herein, on September 24, 1998, the Second Term Lenders agree to extend a term loan to the Borrowers in the original principal amount of $22,000,000 (the "SECOND TERM LOAN"). The Second Term Loan shall be evidenced by a Term Note and shall be governed in all respects by the terms of this Credit Agreement and the other Credit Documents.
Second Term Loan. (a) MAALT has requested a new term loan for construction in Big Lake, Xxxxxx County, Texas, and Lender has agreed on the terms set forth in this Amendment. The Loan Agreement is amended to add a new Section 1B that reads as follows:
Second Term Loan. (a) Subject to the terms and conditions set forth in the Loan Agreement and the other Loan Documents, Lender agrees to make a multiple advance and term loan in the maximum aggregate principal amount of $3,850,497.00 to MAALT (the “Second Term Loan”) on the terms set forth in the Term Promissory Note attached as Exhibit G to this Amendment (the “Second Term Note”), for the purpose of financing the construction of a sand storage and transloading facility situated in Big Lake, Xxxxxx County, Texas (the “Big Lake Facility”). Subject to the terms and conditions of MAALT, L.P. GHMR OPERATIONS, L.L.C. February 9, 2016 the Loan Agreement, MAALT may request one or more advances on or before August 9, 2016 (the “Second Termination Date”), in an aggregate amount not to exceed the lesser of (i) eighty percent (80%) of MAALT’s aggregate cost incurred in connection with the construction of the Big Lake Facility in accordance with the Big Lake Approved Budget (as defined below), or (ii) $3,850,497.00.
Second Term Loan. On the Closing Date, the Agent and each Lender consents to the extension of the Second Term Loan by the Second Term Lenders in accordance with the terms of the Credit Agreement, as amended by this Amendment. The Agent and each Lender acknowledge that the Second Term Loan shall be secured by an interest in the Collateral PARI PASSU and pro rata with the Existing Term Loan and the term "Secured Obligations" as used in the Postpetition Collateral Agency Agreement shall include the obligations of the Borrowers under the Credit Agreement with respect to the Second Term Loan. The obligations of the Borrowers under the Credit Agreement with respect to the Second Term Loan will be secured by the Collateral without having to amend the Collateral Documents. The Agent and each Lender agree that at any time and from time to time, at the cost and expense of the Borrowers, they will execute and deliver all further instruments and documents, and take such further actions, that may be reasonably necessary to so secure the Second Term Loan.
Second Term Loan. Subject to the terms hereof, on and after the ---------------- Effective Date Bank will advance Debtor the sum of up to Two Million Five Hundred Thousand Dollars ($2,500,000.00), which shall be used to finance the purchase of computers and software for the CRO Division, as follows: until the First Takedown Period, in an amount up to One Million Five Hundred Thousand Dollars ($1,500,000.00) and until December 29, 1997 in an amount up to One Million Dollars ($1,000,000.00). Debtor shall pay Bank interest only, at the rate specified below, on the entire principal amount outstanding under the Second Term Loan, commencing on the first day of the month immediately following the first advance by Bank to Debtor thereunder, and on the first day of each month thereafter until the date the full principal amount of the Second Term Loan is advanced to Debtor by Bank or December 27, 1997, whichever occurs first (the "Fixed Amortization Date"). Commencing on the first day of the month immediately following the Fixed Amortization Date, and on the first day of each month thereafter, Debtor shall pay to Bank thirty-six (36) equal monthly installments of principal together with accrued interest at the rate set forth below on the Second Term Loan amortized over such thirty-six (36) months, all as more fully provided herein and in the Second Term Loan Note to be executed by Debtor at the signing hereof. The entire outstanding balance of principal, and any accrued and unpaid interest thereon, shall be due and payable on the earliest of (1) thirty-six (36th) month following the Fixed Amortization Date or (2) the date of acceleration of the Second Term Loan Note upon an Event of Default. The outstanding principal balance under the Second Term Loan shall bear interest at a rate of seven and nine-tenths percent (7.90%) per annum up to $1,500,000.00 and eight and three one-hundredths percent (8.03%) for the remaining $1,000,000.00 (except that interest shall accrue at the Default Rate, so long as an Event of Default shall have occurred and be continuing uncured).
Second Term Loan. Subject to the terms and conditions hereof, the Bank agrees to make a second term loan (the “Second Term Loan”) to the Borrower on or about the effective date of the Eighth Amendment to this Agreement in an amount equal Four Million Five Hundred Thousand and 00/100 ($4,500,000.00) Dollars.”
Second Term Loan. (a) Second Term Loan. The Bank has made and continues to make hereunder a loan (the "Second Term Loan") to Borrower, in the outstanding principal amount as of the Closing Date of Two Million Five Hundred Fifty Thousand Dollars ($2,550,000).
Second Term Loan. On the Second Term Loan Closing Date, the Agent and each Lender consents to the extension of the Second Term Loan by the
Second Term Loan. With respect to SECTIONS 1 AND 3.1 of this Amendment, this Amendment becomes effective upon satisfaction of the following conditions:
Second Term Loan. Subject to the terms and conditions of this Agreement, Lender may make an additional term loan (the "Second Term Loan") to Borrowers upon the request of Borrowers and approval of Lender following the Closing Date. The Second Term Loan, if any, shall be evidenced by a Senior Secured Promissory Note, in substantially the same form as Exhibit B hereto and incorporated herein by this reference (the "Second Note" and collectively with the Initial Note, the "Notes"). In the event that Borrowers wish Lender to make the Second Term Loan, Borrowers shall give to Lender irrevocable notice of a request, including the amount, for the Second Term Loan in writing on a business day that is at least fifteen (15) Business Days prior to the date of the proposed Second Term Loan (the "Second Note Funding Request"). Lender shall have the right to accept or refuse to make the Second Term Loan in its sole and absolute discretion. Lender's obligation to fund the Second Term Loan shall be subject to satisfaction by Borrowers of the conditions precedent described in Article II of this Agreement. Borrowers understand and agree that the Second Note will be subject to an original issue discount so that the face amount of the Second Note will be $1,200,000 while the amount actually funded by Lender will be $1,000,000 (exclusive of fees and other charges payable by Borrowers at the closing of the Second Term Loan) (the "Second Funded Amount"). Payments of interest and principal on the Second Term Loan will be as set forth in the Second Note. Notwithstanding anything to the contrary contained herein, Borrowers may request that the amount of the Second Term Loan be less than the amounts specified above, in which case the face amount of the Second Note and the Second Funded Amount (exclusive of fees and charges payable at closing of the Second Term Loan) will be reduced proportionately and the payments thereunder adjusted to fully-amortize over thirty-six (36) months following the funding.
