Common use of Term Loan Amounts Clause in Contracts

Term Loan Amounts. (a) On the terms and subject to the conditions set forth herein, the Lenders hereby agree to make to Borrower on the Closing Date a term loan in an original principal amount equal to $110,000,000 (the “Term A Loan”). Each Lender’s obligation to fund the Term A Loan shall be limited to such Lender’s Term Loan Commitment Percentage of the Term A Loan, and no Lender shall have any obligation to fund any portion of the Term A Loan required to be funded by any other Lender, but not so funded, and no Lender shall be relieved of its obligation to fund the Term A Loan because another Lender has failed to fund. Borrower shall not have any right to reborrow any portion of the Term A Loan which is repaid or prepaid from time to time. The Commitments of the Lenders to make the Term A Loan shall expire concurrently with the making of the Term A Loan on the Closing Date.

Appears in 2 contracts

Samples: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)

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Term Loan Amounts. (ai) <On the terms and subject to the conditions set forth herein, the Lenders hereby agree to make to Borrower Quantum on the Closing Date a term loan in an original principal amount equal to $110,000,000 50,000,000 (the “Term A Loan”). Each Lender’s obligation to fund the Term A Loan shall be limited to such Lender’s Term Loan Commitment Percentage of the Term A Loan, and no Lender shall have any obligation to fund any portion of the Term A Loan required to be funded by any other Lender, but not so funded, and no Lender shall be relieved of its obligation to fund the Term A Loan because another Lender has failed to fund>. Borrower Borrowers shall not have any right to reborrow any portion of the <Term A >Loan which is repaid or prepaid from time to time. <The Commitments of the Lenders to make the Term A Loan shall expire concurrently with the making of the Term A Loan on the Closing Date.>

Appears in 1 contract

Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/)

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Term Loan Amounts. (ai) On the terms and subject to the conditions set forth herein, the Lenders hereby agree to make to Borrower Quantum on the Closing Date a term loan in an original principal amount equal to $110,000,000 50,000,000 (the “Term A Loan”). Each Lender’s obligation to fund the Term A Loan shall be limited to such Lender’s Term Loan Commitment Percentage of the Term A Loan, and no Lender shall have any obligation to fund any portion of the Term A Loan required to be funded by any other Lender, but not so funded, and no Lender shall be relieved of its obligation to fund the Term A Loan because another Lender has failed to fund. Borrower Borrowers shall not have any right to reborrow any portion of the Term A Loan which is repaid or prepaid from time to time. The Commitments of the Lenders to make the Term A Loan shall expire concurrently with the making of the Term A Loan on the Closing Date.

Appears in 1 contract

Samples: Assignment Agreement (Quantum Corp /De/)

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