Term Loan B Amortization Sample Clauses
The 'Term Loan B Amortization' clause defines the schedule and method by which the principal of a Term Loan B facility is repaid over time. Typically, this clause outlines periodic payments that are often minimal during the loan's term, with a substantial lump-sum (balloon) payment due at maturity. For example, borrowers may be required to make small quarterly payments, with the majority of the principal repaid at the end of the loan period. This structure allows borrowers to manage cash flow more effectively during the loan term while ensuring the lender receives full repayment by the maturity date.
Term Loan B Amortization. The principal of the Term Loans B shall be due and payable in quarterly installments, each due on a Quarterly Date, beginning on the last day of the first fiscal quarter of 2005, equal to the amount set forth in the following table opposite the applicable payment (allocated among the Term Loan B Lenders pro rata in accordance with the unpaid principal balances of their respective Term Loans B): first through twentieth $ 550,000 twenty-first through twenty-fourth $ 52,250,000 On the Term Loan B Maturity Date, the entire unpaid principal balance of each Term Loan B and all accrued and unpaid interest on the unpaid principal balance of each Term Loan B shall be finally due and payable.
Term Loan B Amortization. Section 2.4(c) is deleted in its ------------------------ -------------- entirety and replaced with the following provision: