Term Loan Advances Sample Clauses

Term Loan Advances. Subject to the prior satisfaction of all other applicable conditions to the making of a Term Loan Advance set forth in this Agreement, to obtain a Term Loan Advance, Borrower (via an individual duly authorized by an Administrator) shall notify Bank (which notice shall be irrevocable) by electronic mail by 12:00 p.m. Pacific time on the Funding Date of the Term Loan Advance. Such notice shall be made by Borrower through Bank’s online banking program, provided, however, if Borrower is not utilizing Bank’s online banking program, then such notice shall be in a written format acceptable to Bank that is executed by an Authorized Signer. Bank shall have received satisfactory evidence that the Board has approved that such Authorized Signer may provide such notices and request Term Loan Advances. In connection with such notification, Borrower must promptly deliver to Bank by electronic mail or through Bank’s online banking program a completed Payment/Advance Form executed by an Authorized Signer together with such other reports and information, as Bank may request in its sole discretion. Bank shall credit proceeds of any Term Loan Advance to the Designated Deposit Account. Bank may make Term Loan Advances under this Agreement based on instructions from an Authorized Signer or without instructions if the Term Loan Advances are necessary to meet Obligations which have become due.

Term Loan Advances. Subject to Section 2.4(b), the principal amount outstanding under the Term Loan Advances shall accrue interest at a floating per annum rate equal to the greater of (A) two and one-quarter of one percent (2.25%) above the Prime Rate and (B) seven and one-half of one percent (7.50%), which interest, in each case, shall be payable monthly in accordance with Section 2.4(d) below.”

Term Loan Advances. (i) Subject to and upon the terms and conditions of this Agreement, during the Draw Period, Borrower may request and Bank shall make term loan advances in an aggregate amount not to exceed the Term Line (each a "Term Loan Advance" and collectively, the "Term Loan Advances"). Each Term Loan Advance shall be in an amount not less than Two Hundred Fifty Thousand Dollars ($250,000). The aggregate outstanding amount of the Term Loan Advances shall not, at any time, exceed the Term Line. (ii) The Term Loan Advances shall be "interest-only" during the Draw Period, with interest due and payable in accordance with Section 2.3 hereof. Beginning on the Amortization Start Date and continuing on the first (1st) day of each month thereafter, the Term Loan Advances shall be payable in thirty (30) equal monthly installments of principal plus accrued and unpaid interest (each a "Term Loan Advance Payment"). Borrower's final Term Loan Advance Payment, due on the Term Loan Maturity Date, shall include all outstanding principal and accrued and unpaid interest on the Term Loan Advances. Term Loan Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Loan Advances at any time without penalty or premium. (iii) When Borrower desires to obtain a Term Loan Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail or facsimile transmission to be received no later than 2:00 p.m. Eastern time three (3) Business Days before the day on which the Term Loan Advance is to be made. Such notice shall be substantially in the form set forth in the Client Reporting File. The notice shall be signed by a Responsible Officer or its designee.

Term Loan Advances. Subject to the prior satisfaction of all other applicable conditions to the making of a Credit Extension set forth in this Agreement, to obtain a Credit Extension, Borrower shall notify Agent (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time at least five (5) Business Days before the proposed Funding Date of such Credit Extension. Together with any such electronic or facsimile notification, Borrower shall deliver to Agent by electronic mail or facsimile a completed Disbursement Letter (and Payment/Advance Form) executed by an Authorized Signer. Agent may rely on any telephone notice given by a person whom Agent reasonably believes is an Authorized Signer. On the Funding Date, Agent shall credit the Credit Extensions to the Designated Deposit Account. Agent may make Credit Extensions under this Agreement based on instructions from an Authorized Signer or without instructions if the Credit Extensions are necessary to meet Obligations which have become due.

Term Loan Advances. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Loan Lenders on the Termination Date in respect of the Term Loan Facility the aggregate outstanding principal amount of the Term Loan Advances then outstanding.

Term Loan Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Loan Advances to Borrowers. Borrowers, or any of them, may request Term Loan Advances from the date hereof through September 5, 2012. The aggregate outstanding amount of Term Loan Advances shall not exceed the Term Loan. The proceeds of the Term Loan shall be used by Borrowers to reimburse Borrowers for cash expended in Silverback’s acquisition of PowerSteering and to repay Subordinated Debt owed by Silverback to ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇. (ii) Interest shall accrue from the date of each Term Loan Advance at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Term Loan Advances that are outstanding on September 5, 2012 shall be payable in forty eight (48) equal monthly installments of principal, plus all accrued interest, beginning on October 1, 2012, and continuing on the same day of each month thereafter until the Term Loan Maturity Date, when all outstanding principal and accrued interest shall be paid in full. Term Loan Advances, once repaid, may not be reborrowed. Borrowers may prepay any Term Loan Advances without penalty or premium. (iii) When a Borrower desires to obtain a Term Loan Advance, such Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p.m. Central time (1:30 p.m. Central time for wire transfers) on the Business Day the Term Loan Advance is to be made. Such notice shall be substantially in the form of Exhibit C. The notice shall be signed by a Responsible Officer of any Borrower or its designee. Bank shall be entitled to rely on any facsimile or telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer of any Borrower or a designee thereof, and Borrowers shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance.

Term Loan Advances. Subject to Section 2.3(b), the principal amount outstanding for each Term Loan Advance shall accrue interest at a floating per annum rate equal to three quarters of one percent (0.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(f) below.

Term Loan Advances. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Loan Lenders the aggregate outstanding principal amount of the Term Loan Advances on the following dates in the amounts indicated (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.06): DATE Amount ---- ------ June 30, 1996 $4,375,000 September 30, 1996 $4,375,000 December 31, 1996 $13,125,000 March 31, 1997 $13,125,000 June 30, 1997 $5,000,000 September 30, 1997 $5,000,000 December 31, 1997 $15,000,000 March 31, 1998 $15,000,000 77 47 DATE AMOUNT ---- ------ June 30, 1998 $5,625,000 September 30, 1998 $5,625,000 December 31, 1998 $16,875,000 March 31, 1999 $16,875,000 June 30, 1999 $6,875,000 September 30, 1999 $6,875,000 December 31, 1999 $20,625,000 March 31, 2000 $20,625,000 June 30, 2000 $9,375,000 September 30, 2000 $9,375,000 December 31, 2000 $28,125,000 March 31, 2001 $28,125,000 provided, however, that the final principal installment shall be repaid on the Termination Date and in any event shall be in an amount equal to the aggregate principal amount of the Term Loan Advances outstanding on such date.

Term Loan Advances. Interest on the principal amount of each Term Loan Advance is payable as set forth on Schedule I hereto.