Secured Term Loan Sample Clauses

Secured Term Loan. Debt The obligations of the Debtors for a $850,000,000 term loan facility (the “Secured Term Loan Debt”) under that certain Credit Agreement, dated as of May 31, 2018, by and among the Debtors and the lenders party thereto (the “Credit Agreement,” the term loan claims thereunder, the “Secured Term Loan Claims,” and the holders thereof, the “Secured Term Loan Lenders”). Secured Revolving Loan Debt The obligations of the Debtors for a $120,000,000 revolving credit facility (the “Secured Revolving Loan Debt”) under the Credit Agreement (the revolving loan claims thereunder, the “Secured Revolving Loan Claims” and the holders thereof, the “Secured Revolving Loan Lenders” and the Secured Term Loan Claims and the Secured Revolving Loan Claims together, the “Secured Loan Claims” and the Secured Term Loan Lenders and the Secured Revolving Loan Lenders together, the “Secured Loan Lenders”). Senior Notes The obligations of the Debtors under that certain Indenture, dated as of May 30, 2014 (the “Senior Notes Indenture”), by and among the Debtors and the indenture trustee party thereto (the claims thereunder, the “Senior Notes Claims,” the holders thereof, the “Senior Noteholders”), with respect to $500,000,000 aggregate principal amount of 8.000% Senior Notes due 2022 issued by 24 Hour Fitness Worldwide, Inc. as successor by merger to 24 Hour Holdings III LLC. General Unsecured Claims All general unsecured claims against any Debtor, including claims arising from the rejection of unexpired leases or executory contracts by any Debtor and the Senior Notes Claims. Parent Equity Interests The equity interests in Parent held by Non-Debtor Topco which represent 100% of the existing equity interests in Parent (the “Parent Equity Interests”). Exit Facility Upon the Effective Date, the Reorganized Company1 and certain holders of DIP Facility Claims shall enter into an Exit Facility on the terms set forth in the term sheet attached hereto as Exhibit 1 (the “Exit Facility Term Sheet”) and otherwise on terms satisfactory to the Requisite Consenting Creditors, and set forth in the definitive documents to be included in the Plan Supplement.
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Secured Term Loan. Subject to the terms and conditions of this Agreement, at the Closing, periodically each Lender agrees to lend and the Company agrees to borrow an amount equal to the mount set forth on the Lenders Schedule opposite such Lender's name (herein called such Lender's "Loan") pursuant to a promissory note in the form of Exhibit A, with appropriate insertions (herein called such Lender's "Note") to be dated as of the Closing Date (as defined herein). Additional amounts shall be loaned, at the rate of $250,000 every 60 days beginning 60 days from the date of the Bridge Loan Agreement, to the Company by a Lender or new Lenders during the Commitment Period, so long as the aggregate amount of the Loans outstanding at any time does not exceed the Maximum Loan Amount. Should Lenders fail to make any payment, Lender shall forfeit their right to make future funding amounts and the Commitment Period shall be considered expired on the date Lenders do not submit the required funding to the Company. No additional amounts may be loaned to the Company hereunder after the expiration of the Commitment Period. At the time that additional amounts are loaned hereunder, the Company shall (a) amend the Lender's Schedule accordingly, (b) append an additional signature page for any new Lender, (c) prepare a promissory note to each Lender for the additional amount loaned, and (d) allow such new Lender to become a party to this agreement and all ancillary documents or agreements contemplated herein or hereby.
Sample 1
Secured Term Loan. Subject to the terms and conditions of this Agreement, at the Closing, (i) Lender agrees to lend and the Company agrees to borrow an amount equal to the amount set forth on the attached Lender Schedule in a minimum amount of one hundred forty thousand dollars ($140,000) (herein called "Initial Loan"), and (ii) Lender agrees to deliver to Company after Closing the additional amounts set forth on the Lender Schedule opposite Lender's name (herein called Lender's "Subsequent Loans"; the Initial Loan and all Subsequent Loans that are funded to the Company pursuant to the terms hereunder are called the "Loans", pursuant to a promissory note in the form of Exhibit A, with appropriate insertions (herein called Lender's "Note") to be dated as of the Closing Date (as defined herein). In the event that additional amounts are loaned hereunder, the Company and Lender shall amend the Lender's Schedule accordingly.
Sample 1
Secured Term Loan. The Lender agrees under the terms and provisions of this Agreement to extend a term loan to the Borrower in the principal amount of Six Hundred Fifty Thousand Dollars and 00/100 Dollars ($650,000). At the Closing, the Loan shall be disbursed as set forth on Exhibit B. The net proceeds of the Term Loan disbursed to the Borrower shall be used solely for the purposes set forth on the attached Exhibit C. The Loan shall be evidenced by Secured Term Promissory Note (collectively, the "Note"). The Note shall be secured by a Security Agreement and Collateral Assignment of Patents and Trademarks and Security Agreement (the "Assignment") (the Note, this Agreement, the Security Agreement and the Assignment are sometimes referred to herein as the "Loan Documents").
Sample 1
Secured Term Loan. A secured term loan (the "First Secured Term Loan") shall be funded by Merck at the Initial Closing as follows:
Sample 1
Secured Term Loan. Subject to the terms and conditions of this Agreement, at the Closing, periodically Lender agrees to lend and the Company agrees to borrow an amount pursuant to a promissory note in the form of Exhibit A, with appropriate insertions (herein called Lender's "Note") to be dated as of the Closing Date (as defined herein). Additional amounts may be loaned to the Company by Lender during the Commitment Period, so long as the aggregate amount of the Loans outstanding at any time does not exceed the Maximum Loan Amount. No additional amounts may be loaned to the Company hereunder after the expiration of the Commitment Period. At the time that additional amounts are loaned hereunder, the Company shall (a) prepare a promissory note to Lender for the additional amount loaned.
Sample 1

Related to Secured Term Loan

  • Tranche A Term Loans Subject to the terms and conditions set forth herein, each Tranche A Term Loan Lender agrees to make a Tranche A Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche A Term Loan Commitment. Amounts repaid in respect of Tranche A Term Loans may not be reborrowed hereunder.

  • Tranche B Term Loans Each Lender that has a Tranche B Term Loan Commitment severally agrees to lend to Borrower on the Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Tranche B Term Loan Commitments to be used for the purposes identified in subsection 2.5A. Borrower shall deliver to Administrative Agent a Notice of Borrowing no later than 12:00 Noon (New York City time) at least one Business Day prior to the Closing Date, requesting a borrowing of the Tranche B Term Loans. The Notice of Borrowing shall specify (i) the proposed Funding Date (which shall be a Business Day), and (ii) that such Loans shall be Base Rate Loans. The aggregate amount of the Tranche B Term Loan Commitments is $45,000,000; PROVIDED that the Tranche B Term Loan Commitments of Lenders shall be adjusted to (1) give effect to any assignments of the Tranche B Term Loan Commitments pursuant to subsection 10.1B and (2) any increase in Tranche B Term Loans pursuant to subsection 2.1A(iv). Each Lender's Tranche B Term Loan Commitment shall expire immediately and without further action on March 31, 2002 if the Tranche B Term Loans have not been made on or before that date. Subject to subsection 2.1A(iv), Borrower may make only one borrowing under the Tranche B Term Loan Commitments. Amounts 35 borrowed under this subsection 2.1A(ii) and subsequently repaid or prepaid may not be reborrowed.

  • Refinancing Term Loans (a) The Borrower may by written notice to Administrative Agent elect to request the establishment of one or more additional tranches of term loans denominated in Dollars under this Agreement (“Refinancing Term Loans”) to refinance an outstanding Class of Term Loans. Each such notice shall specify the date (each, a “Refinancing Effective Date”) on which the Borrower proposes that the Refinancing Term Loans shall be made, which shall be a date not less than five Business Days after the date on which such notice is delivered to the Administrative Agent; provided that:

  • The Term Loan On the terms and conditions set forth in the MLA and this Promissory Note and Supplement, CoBank agrees to make a loan to the Company in an amount not to exceed $20,000,000.00 (the “Commitment”). The Commitment shall expire at 12:00 noon (Company’s local time) on January 30, 2012, or on such later date as CoBank may, in its sole discretion, authorize in writing.

  • Repayment of Term Loan The principal amount of the Term Loan shall be repaid in consecutive quarterly installments as follows, unless accelerated sooner pursuant to Section 7.2: Principal Amortization Payment Dates Term Loan Principal Amortization Payment September 30, 2007 $ 559,375 December 31, 2007 $ 559,375 March 31, 2008 $ 559,375 June 30, 2008 $ 559,375 September 30, 2008 $ 1,118,750 December 31, 2008 $ 1,118,750 March 31, 2009 $ 1,118,750 June 30, 2009 $ 1,118,750 September 30, 2009 $ 1,678,175 December 31, 2009 $ 1,678,175 March 31, 2010 $ 1,678,175 June 30, 2010 $ 1,678,175 September 30, 2010 $ 2,237,500 December 31, 2010 $ 2,237,500 March 31, 2011 $ 2,237,500 June 30, 2011 $ 2,237,500 September 30, 2011 $ 2,237,500 December 31, 2011 $ 2,237,500 March 31, 2012 $ 2,237,500 Term Loan Maturity Date The remaining outstanding principal amount of the Term Loan

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Incremental Term Loan The Borrower shall repay the outstanding principal amount of the Incremental Term Loan in the installments on the dates and in the amounts set forth in the Incremental Term Loan Lender Joinder Agreement (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 9.02.

  • Extended Term Loans (a) Notwithstanding anything to the contrary in this Agreement, subject to the terms of this Section 2.14, Lead Borrower may at any time and from time to time request that all or a portion of any Tranche of Term Loans (each, an “Existing Term Loan Tranche”), be converted to extend the scheduled maturity date(s) of any payment of principal with respect to all or any portion of such Existing Term Loan Tranche (any such Term Loans which have been so converted, “Extended Term Loans”) and to provide for other terms consistent with this Section 2.14. In order to establish any Extended Term Loans, Lead Borrower shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the applicable Existing Term Loan Tranche) (each, an “Extension Request”) setting forth the proposed terms of the Extended Term Loans to be established, which shall (x) be identical as offered to each Lender under the relevant Existing Term Loan Tranche (including as to the proposed interest rates and fees payable) and (y) have the same terms as the Existing Term Loan Tranche from which such Extended Term Loans are to be converted, except that: (i) all or any of the scheduled amortization payments of principal of the Extended Term Loans may be delayed to later dates than the scheduled amortization payments of principal of the Term Loans of such Existing Term Loan Tranche to the extent provided in the applicable Extension Amendment; (ii) the Effective Yield with respect to the Extended Term Loans (whether in the form of interest rate margin, upfront fees, original issue discount or otherwise) may be different than the Effective Yield for the Term Loans of such Existing Term Loan Tranche; (iii) the Extension Amendment may provide for other covenants and terms that apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the applicable Extension Amendment (immediately prior to the establishment of such Extended Term Loans); (iv) Extended Term Loans may have mandatory prepayment terms which provide for the application of proceeds from mandatory prepayment events to be made first to prepay the Term Loans under the Existing Term Loan Tranche from which such Extended Term Loans have been converted before applying any such proceeds to prepay such Extended Term Loans; (v) Extended Term Loans may have optional prepayment terms (including call protection and terms which allow Term Loans under the relevant Existing Term Loan Tranche from which such Extended Term Loans have been converted to be optionally prepaid prior to the prepayment of such Extended Term Loans) as may be agreed by Lead Borrower and the Lenders thereof and (vi) such Extended Term Loans may have other terms (other than those described in the preceding clause (i) through (v)) that differ from those of the Existing Term Loan Tranche, in each case, taken as a whole, that are not materially more favorable to the Lenders providing such Extended Term Loans than the provisions applicable to the Existing Term Loan Tranche or as are otherwise reasonably satisfactory to the Administrative Agent. Any Extended Term Loans converted pursuant to any Extension Request shall be designated a series (each, an “Extension Series”) of Extended Term Loans for all purposes of this Agreement; provided that, subject to the requirements set forth above, any Extended Term Loans converted from an Existing Term Loan Tranche may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Tranche of Term Loans.

  • Initial Term Loan The Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing prior to 12:00 p.m. on the Closing Date requesting that the Term Loan Lenders make the Initial Term Loan as a Base Rate Loan on such date (provided that the Borrower may request, no later than three (3) Business Days prior to the Closing Date, that the Lenders make the Initial Term Loan as a LIBOR Rate Loan if the Borrower has delivered to the Administrative Agent a letter in form and substance reasonably satisfactory to the Administrative Agent indemnifying the Lenders in the manner set forth in Section 5.9 of this Agreement). Upon receipt of such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Term Loan Lender thereof. Not later than 2:00 p.m. on the Closing Date, each Term Loan Lender will make available to the Administrative Agent for the account of the Borrower, at the Administrative Agent’s Office in immediately available funds, the amount of such Initial Term Loan to be made by such Term Loan Lender on the Closing Date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of the Initial Term Loan in immediately available funds by wire transfer to such Person or Persons as may be designated by the Borrower in writing.

  • Term Loan Advance Subject to Section 2.3(b), the principal amount outstanding under the Term Loan Advance shall accrue interest at a floating per annum rate equal to the Prime Rate plus three percent (3.00%), which interest shall be payable monthly.

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