Common use of Term Loan Amounts Clause in Contracts

Term Loan Amounts. On the terms and subject to the conditions set forth herein, the Lenders severally hereby agree to make to Borrowers a term loan in an aggregate original principal amount equal to the Term Loan Commitment (“Term Loan”). Each Lender’s obligation to fund the Term Loan shall be limited to such Lender’s Term Loan Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded. No Borrower shall have any right to reborrow any portion of the Term Loan that is repaid or prepaid from time to time. The Term Loan shall be available in two tranches. The first tranche shall be in an amount equal to Twenty-Eight Million Dollars ($28,000,000.00) and shall be advanced on the Closing Date. The second tranche shall be in an amount equal to Five Million Dollars ($5,000,000.00) and shall be available to be advanced in a single advance on a Business Day prior to the Draw Period Termination Date. Borrowers shall deliver to Agent a Notice of Borrowing with respect to the second tranche Term Loan advance, such Notice of Borrowing to be delivered no later than noon (Eastern time) thirty days prior to such proposed borrowing.

Appears in 2 contracts

Samples: Credit, Security and Guaranty Agreement (Alphatec Holdings, Inc.), Credit, Security and Guaranty Agreement (Alphatec Holdings, Inc.)

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Term Loan Amounts. On the terms and subject to the conditions set forth herein, the Lenders severally hereby agree to make to Borrowers a term loan in an aggregate original principal amount Portions of this page were omitted, as indicated by [***], and have been filed separately with the Secretary of the Commission pursuant to the Registrant’s application requesting confidential treatment under Rule 24b­2 of the Securities Exchange Act of 1934, as amended. equal to the Term Loan Commitment (“Term Loan”). Each Lender’s obligation to fund the Term Loan shall be limited to such Lender’s Term Loan Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded. No Borrower shall have any right to reborrow any portion of the Term Loan that is repaid or prepaid from time to time. The Term Loan shall be available in two tranches. The first tranche shall be in an amount equal to Twenty-Eight Million Dollars ($28,000,000.00) and shall be advanced on the Closing Date. The second tranche shall be in an amount equal to Five Million Dollars ($5,000,000.00) and shall be available to be advanced in a single advance on a Business Day prior to the Draw Period Termination Date. Borrowers shall deliver to Agent a Notice of Borrowing with respect to the second tranche Term Loan advance, such Notice of Borrowing to be delivered no later than noon (Eastern time) thirty days prior to such proposed borrowing.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Alphatec Holdings, Inc.)

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Term Loan Amounts. On the terms and subject to the conditions set forth herein, the Lenders severally hereby agree to make to Borrowers a term loan in an aggregate original principal amount equal to the Term Loan Commitment (“Term Loan”). Each Lender’s obligation to fund the Term Loan shall be limited to such Lender’s Term Loan Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded. No Borrower shall have any right to reborrow any portion of the Term Loan that is repaid or prepaid from time to time. The Term Loan shall be available funded in two (2) tranches. The first initial tranche shall be in an amount equal to Twenty-Eight Million Dollars ($28,000,000.00) and shall be advanced on the Closing DateDate in an aggregate amount not to exceed Eight Million Dollars ($8,000,000) (the “Tranche One Advance”). The second tranche shall be advanced no later than May 11, 2007 in an aggregate amount equal not to Five exceed Two Million Dollars ($5,000,000.002,000,000) and shall be available to be advanced in a single advance on a Business Day prior to (the Draw Period Termination Date“Tranche Two Advance”). Borrowers shall deliver to Administrative Agent a Notice of Borrowing with respect to the second tranche proposed Term Loan advance, such Notice of Borrowing to be delivered no later than noon (Eastern Chicago time) thirty days two (2) Business Days prior to such proposed borrowingthe funding date of the applicable Term Loan advance.

Appears in 1 contract

Samples: Credit and Security Agreement (Ithaka Acquisition Corp)

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