Term Facility. Subject to the provisions of subsection (d) below, (i) each Eurodollar Rate Loan under the Term Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Margin for the Term Facility; and (ii) each Base Rate Loan under the Term Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Margin for the Term Facility.
Term Facility. Substantially concurrently with the satisfaction of the other conditions precedent set forth in this Section 4.01(c), the Parent, Holdings, and the Borrower shall have entered into the Term Facility and the Agent shall have received (i) a counterpart of the Intercreditor Agreement, signed by the administrative agent under the Term Facility and acknowledged by the Loan Parties party thereto and (ii) a certificate signed by a Responsible Officer attaching true, correct and complete copies of the material documents relating to the Term Facility and certifying that all of such documents are in full force and effect.
Term Facility. (a) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties contained herein, each Lender with a Term Commitment severally and not jointly agrees to lend, on the Closing Date, to the Company the amount set forth opposite such Lender’s name in Schedule 1 under the heading “Term Commitments”.
Term Facility. The Borrowers shall repay the outstanding principal amount of the Term Facility in quarterly installments, each in an amount equal to $7,500,000 (as such installments may hereafter be adjusted as a result of Mandatory Payments made pursuant to Section 1.5 of this Agreement or prepayments made pursuant to Section 1.4(f) of this Agreement), with the remaining principal balance due on the Maturity Date, unless accelerated sooner pursuant to this Agreement. Each such payment with respect to any fiscal quarter shall be made on the first Business Day following the end of such fiscal quarter (beginning with a payment due on April 1, 2024 in connection with the fiscal quarter ending March 31, 2024).
Term Facility. The aggregate Term Commitments shall be automatically and permanently reduced to zero (i) on the date of any Term Borrowing on a dollar-for-dollar basis equal to such Term Borrowing and (ii) to the extent undrawn and unused, on the last day of the Availability Period for the Term Facility. In addition, during the Availability Period in respect of the Term Facility, the Company may, upon notice to the Administrative Agent as set forth above in clause (a), from time to time terminate (in whole or in part) the unused portion of the aggregate Term Commitments. The Administrative Agent will promptly notify the Lenders of any voluntary termination or reduction of the unused portion of the aggregate Term Commitments under this Section 2.06(c). Upon any reduction of the unused portion of the aggregate Term Commitments, the Term Commitment of each Term Lender shall be reduced by such Lender’s ratable portion of such reduced amount. All fees in respect of the Term Facility accrued until the effective date of any termination of the Term Facility shall be paid on the effective date of such termination.
Term Facility. Each Term Lender severally and not jointly agrees, on the terms and conditions set forth in this Agreement, to make Term Loans to the Borrower on the Effective Date in an amount not to exceed (x) for any such Term Lender, its Term Commitment and (y) in the aggregate for all Term Lenders, the Aggregate Term Commitment. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed. The Term Loans shall be made by each Term Lender on the Effective Date in an amount equal to its Term Commitment. The Aggregate Term Commitment shall be reduced to zero and terminated in full and expire after each Term Lender makes its Term Loan on the Effective Date.
Term Facility. Substantially concurrently with the satisfaction of the other conditions precedent set forth in this Section 4.01(c), the Parent, Holdings, and the Borrower shall have entered into the Term Facility and the Agent shall have received a counterpart of the Intercreditor Agreement, signed by the administrative agent under the Term Facility and acknowledged by the Loan Parties party thereto.
Term Facility. Interest on Base Rate Loans shall be due and payable monthly in arrears on the last Business Day of each month. Interest on LIBOR Rate Loans shall be due and payable in arrears at the end of the applicable Interest Period but, in any event, no less than quarterly.
Term Facility. Subject to the terms and conditions set forth herein, on the Closing Date, each Term Lender severally agrees to make a Term Loan to the Borrower in the aggregate principal amount equal to such Term Lender’s Term Loan Commitment. The Term Loans shall mature on the Term Loan Maturity Date. The initial Advance of the Term Loan shall be $30,000,000 and the remaining Term Loan Commitments of $20,000,000 may be drawn in increments of $10,000,000, in up to two Advances (in addition to the initial Advance) by Borrower’s (x) delivery of a Request for Loan, in the form attached hereto as Exhibit C, to Agent and (y) satisfaction of each of the conditions to an Advance set xxxxx xx §00; provided that the Loan Exposure, after giving effect to Borrower’s requested Advance of a Term Loan, shall not exceed the lesser of the Total Commitment and Pool Property Availability. Any amount of the Term Loan that remains undrawn during the period commencing on March 18, 2019 and ending on December 31, 2020 (the “Undrawn Term Loan Commitments”) shall be subject to an unused fee payable in arrears to the Agent for the account of each Term Lender, computed on a daily basis by multiplying (i) twenty five (25) basis points (0.25%) per annum, expressed as a per diem rate, times (ii) the undrawn portion of the Term Loan Commitments on such day (the “Term Loan Unused Fee”). Borrower shall make the first payment of the Term Loan Unused Fee to Administrative Agent on or prior to February 14, 2020 for all amounts accrued up to and on December 31, 2019. Thereafter, Borrower shall make payments of the Term Loan Unused Fee quarterly in arrears on the last Business Day of each March, June, September and December of 2020 for all amounts accrued up to and on such date. Any portion of the Undrawn Term Loan Commitments that remains undrawn as of December 31, 2020, shall thereafter be unavailable for Borrower to draw, and (i) the Term Loan Commitments shall be reduced accordingly, pro rata among the Term Lenders, and (ii) the Term Loan Unused Fee shall no longer accrue on the Undrawn Term Loan Commitments. Following its receipt of any such Term Loan Unused Fee, Agent shall promptly pay to each Term Lender an amount equal to such Term Lender’s Term Loan Commitment Percentage of the daily amount of such Term Loan Unused Fee based on such Term Lender’s Term Loan Commitment on such day. The Borrower may not reborrow any portion of any Term Loan once repaid. Term Loans may be Base Rate Loans or LIBOR Rate...
Term Facility. The Term Facility shall be for a term (the “Term Facility Term”) commencing on the date hereof and ending on February 5, 2020 (the “Term Facility Maturity Date”) or such earlier date as the Term Facility is accelerated pursuant to the terms of this Agreement upon an Event of Default.
