Term Credit. Subject to the terms and conditions hereof, the Lender agrees to make a loan (the "Term Loan") to the Company in an amount up to the Lender's Term Loan Commitment. There shall be a single borrowing under the Term Loan Commitment which shall be made, if at all, on or before August 31, 1996, at which time the commitment of the Lender to make a Term Loan under the Term Loan Commitment shall expire. There shall be one borrowing under the Term Loan Commitment, and any portion of the Term Loan Commitment not requested by the Company on the occasion of such borrowing shall thereupon expire. The Term Loan made by the Lender to the Company shall be evidenced by a Term Note of the Company (the "Term Note") payable to the order of the Lender in the amount of its Term Loan Commitment, with the Term Note to be in the form (with appropriate insertions) attached hereto as Exhibit B. The Term Note shall be dated the date of issuance thereof and be expressed to bear interest as set forth in Section 2 hereof. The Company hereby promises to make principal payments on the Term Note in installments on the dates set forth in column A below each in an amount equal to the amount set forth in column B below opposite the relevant due date: If the original principal amount of the Term Loan is $30,000,000, or less, then principal payments on the Term Note shall be as follows:
Term Credit. Subject to all of the terms and conditions hereof, the Lenders severally agreed to make a term loan (the "Term Credit Loan") to the Borrowers under the Term Credit in an amount not to exceed their Term Credit Commitments. The Term Loan shall be disbursed in a single advance made, if at all, on or before January 31, 1998, at which time the commitments of the Lenders to make the Term Loan shall expire. Each Lender shall advance a pro rata share of the Term Loan in accordance with the amounts of their respective Percentages. Each Lender's pro rata share of the Term Loan shall be evidenced by a Term Loan Note of the Borrowers (individually a "Term Credit Note" and collectively the "Term Credit Notes") (the Conversion Term Notes and the Term Credit Notes being hereinafter referred to collectively as the "Term Notes" and individually as a "Term Note") payable to the order of such Lender in the amount of its pro rata share of the Term Loan, each Term Credit Note to be in the form (with appropriate insertions) attached hereto as Exhibit B. Each Term Credit Note shall be expressed to mature in twenty-four (24) installments commencing on March 31, 1998 and continuing on the last day of each calendar quarter occurring thereafter to and including September 30, 2003, with the final installment due on December 31, 2003, with the principal installments on the Term Credit Notes to aggregate $500,000 per installment through and including December 31, 1999, $625,000 per installment thereafter and through and including December 31, 2001, $750,000 per installment thereafter and through and including September 30, 2003 and with the final principal installment on all the Term Credit Notes to aggregate in an amount equal to all principal and interest not sooner paid, and with the amount of each installment due on the Term Credit Note held by each Lender to be equal to such Lender's Percentage of such installment.
Term Credit. Subject to the terms and conditions set forth herein, each Term Credit Lender commits to make Loans (each such Loan made under this Section 2.1(2), a “Term Loan”) to the Borrower from time to time during the period commencing on the Effective Date and ending on the Final Term Credit Availability Date (each such commitment, a “Term Credit Commitment”) in an aggregate principal amount up to the amount set forth beside such Lender’s name in Schedule 1.1(a) under the heading “Term Credit Commitment”; provided that a Term Credit Lender shall not be required to make a Term Loan under its Term Credit Commitment if the making of such Term Loan would result in (a) such Term Lender’s Exposure exceeding such Term Lender’s Commitment, or (b) the aggregate Term Credit Exposures exceeding the aggregate Term Credit Commitments. Any undrawn portion of any Term Credit Commitment shall be cancelled at the close of business in Toronto, Ontario on the Final Term Credit Availability Date. Any amount repaid on account of the Term Loans shall be permanent and may not be reborrowed.
Term Credit. Subject to the terms and conditions set forth herein and the continuation of Pre-Existing Borrowings as Borrowings hereunder, each Term Credit Lender commits to make a Loan (each such Loan made under this Section 2.1(2), a “Term Loan”) to the Borrower by way of a single advance on the Closing Date (each such commitment, a “Term Credit Commitment”) in an aggregate principal amount up to the amount set forth beside such Lender’s name in Schedule 2.1 under the heading “Term Credit Commitment”. Any undrawn portion of any Term Credit Commitment shall be cancelled immediately following the Closing Date.
Term Credit. The Banks agree to advance $48,490,000 to the Borrower for the purchase of substantially all of the assets of Broadcast Partners. Such advances shall be made, in one or more closings, on a pro rata basis by the Banks, based on the following maximum advance limits for each Bank: (1) as to FNB-O, $10,780,000; (ii) as to FNB-W, $245,000; (iii) as to NBD, $6,223,000; (iv) as to Norwest, $4,047,000; (v) as to LaSalle, $10,388,000; (vi) as to Mercantile, $5,333,900; (vii) as to Sumitomo, $5,170,000; (viii) as to First Bank, $1,933,000; and (ix) as to Montreal, $4,370,100. It is understood and agreed by the parties that the foregoing advances by FNB-O, FNB-W, and NBD were made at the initial closing under the 1996 Term Credit Agreement on May 3, 1996. The foregoing advance by Norwest represents an advance of $1,822,000 which was made at the initial closing under the Agreement on May 3, 1996, and an additional advance of $2,225,000, which was made at the closing under the First Amendment on July 17, 1996. The foregoing advances by Mercantile, Sumitomo and First Bank were made at the closing under the First Amendment on July 17, 1996. The advance made by Montreal was made at the closing of the Second Amendment on July 31, 1996; the proceeds of such advance were used to prepay the existing Note held by Broadcast Partners in the remaining principal amount of $4,070,100, and to provide an additional $300,000 to the Borrower. The advance made by LaSalle was made on December 27, 1996, at the closing of the Third Amendment. This Agreement shall not be deemed to extinguish any existing indebtedness of the Borrower under the 1996 Term Credit Agreement or the Notes issued thereunder or to release, terminate or affect the priority of any security therefor.
Term Credit. The Banks agree to advance $48,490,000 to the Borrower for the purchase of substantially all of the assets of Broadcast Partners. Such advances shall be made, in one or more closings, on a pro rata basis by the Banks, based on the following maximum advance limits for each Bank: (1) as to FNB-O, $10,780,000; (ii) as to FNB-W, $245,000; (iii) as to NBD, $6,223,000; (iv) as to Norwest, $4,047,000; (v) as to Farm Credit, $10,388,000; (vi) as to Mercantile, $5,333,900; (vii)as to Sumitomo, $5,170,000, (viii) as to First Bank, $1,933,000, (ix) as to Montreal, $4,370,100. 1 It is understood and agreed by the parties that the foregoing advances by FNB-O, FNB-W, NBD, and Farm Credit were made at the initial closing under the Agreement on May 3, 1996. The foregoing advance by Norwest represents an advance of $1,822,000 which was made at the initial closing under the Agreement on May 3, 1996, and an additional advance of $2,225,000, which was made at the closing under the First Amendment on July 17, 1996. The foregoing advances by Mercantile, Sumitomo and First Bank were made at the closing under the First Amendment on July 17, 1996. The advance made by Montreal represents a new advance, the proceeds of which shall be used to prepay the existing Note held by Broadcast Partners in the remaining principal amount of $4,070,100, and to provide an additional $300,000 to the Borrower.
Term Credit. Subject to and upon the terms and ----------- conditions herein set forth, each Bank agrees to make a term loan (a "Term Loan," and, collectively, the "Term Loans") to the Borrower on each Bank's applicable Termination Date in an amount up to an aggregate principal amount not exceeding the amount of such Bank's Commitment on the applicable Termination Date. The proceeds of the Term Loan shall be immediately applied by each Bank, to the extent necessary, to the repayment in full of the Revolving Credit Note then held by such Bank. On each Bank's Termination Date, the commitment of each Bank shall terminate and any facility fee then outstanding shall be paid in full.
Term Credit. Subject to all of the terms and conditions hereof, each Lender agrees to make a loan to the Company in the amount of its Term Credit Commitment (the credit facility under which such loans are made being hereinafter referred to as the "TERM CREDIT") (the loans from all the Lenders under the Term Credit being hereinafter referred to collectively as the "TERM LOAN"). The Term Loan shall be
Term Credit. Subject to the terms and conditions hereof (including but not limited to the conditions contained in Section 7.1 hereof), and relying on the representations and warranties herein contained, the Banks agree to make term loans to the Borrower in an aggregate principal amount equal to SEVEN MILLION ($7,000,000) DOLLARS (the "Term Credit"); provided, that each Bank's obligation to advance loans hereunder shall not exceed such Bank's Commitment Percentage of the Term Credit. The loans (each, a "Term Loan" and collectively, the "Term Loans") under the Term Credit shall be evidenced by one or more term notes executed in favor of each Bank in the maximum amount of that Bank's Commitment Percentage of the Term Credit and substantially in the form of Exhibit "B" attached hereto and made a part hereof with appropriate insertions (each, a "Term Note" and collectively, the "Term Notes").
Term Credit. 17 2.2.1. Term Loan . . . . . . . . . . . . . . . . . . . . . . . . . 17 2.2.2. Term Notes . . . . . . . . . . . . . . . . . . . . . . . . 17 2.3. Application of Proceeds . . . . . . . . . . . . . . . . . . . . . 17 2.3.1. The Revolving Loan . . . . . . . . . . . . . . . . . . . . 17 2.3.2. The Term Loan . . . . . . . . . . . . . . . . . . . . . . . 17 2.3.3.
