Term Loan B Commitments. Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender with a Term Loan B Commitment severally agrees to continue the advance of a term loan (the "Term Loan B") to the Borrower and the Co-Borrower in an amount equal to such Lender's Term Loan B Commitment, which amount represents the then current outstanding principal balance of such Term Loan B as of the Closing Date.
Term Loan B Commitments. The Term Loan B Commitments shall terminate upon the making by the Lenders of the Term Loan B to the Borrower in accordance with Section 2.01(b)(iii).
Term Loan B Commitments. Subject to and upon the terms of this Agreement, each Lender severally agrees to make a loan (each a "Term Loan B"; and collectively, the "Term Loans B") to the Borrower in the principal amount set forth below opposite such Lender's name (herein called such Lender's "Term Loan B Committed Amount"). The total of each Lender's Term Loan B Committed Amount is herein called the "Total Term Loan B Committed Amount". The proportionate share set forth below opposite each Lender's name is herein called such Lender's "Term Loan B Pro Rata Share": Term Loan B Term Loan B LENDER COMMITTED AMOUNT PRO RATA SHARE Fleet $ 6,896,000 22.99% GE Capital $11,552,000 38.51% NationsBank $11,552,000 38.51% TOTAL LOAN B COMMITTED AMOUNT: $30,000,000 100% The obligation of each Lender to make a Term Loan B is several and is limited to its Term Loan B Committed Amount, and such obligation of each Lender is herein called its "Term Loan B Commitment". The Term Loan B Commitment of each of the Lenders are herein collectively referred to as the "Term Loan B Commitments". The Agent shall not be responsible for the Term Loan B Commitment of any Lender; and similarly, none of the Lenders shall be responsible for the Term Loan B Commitment of any of the other Lenders; the failure, however, of any Lender to perform its Term Loan B Commitment shall not relieve any of the other Lenders from the performance of their respective Term Loan B Commitments.
Term Loan B Commitments. The Total Term Loan B Commitment shall be permanently reduced immediately and without further action upon the making of each Term Loan B in an aggregate amount equal to the aggregate amount of such Term Loan B. Each Term Loan B Lender's Term Loan B Commitment shall be permanently reduced immediately and without further action upon the making of each 120535197v14 Term Loan B in an amount equal to the amount of such Term Loan B Lender's Pro Rata Share of such Term Loan B. The Total Term Loan B Commitment and each Term Loan B Lender's Term Loan B Commitment shall terminate immediately and without further action on the Term Loan B Commitment Termination Date.
Term Loan B Commitments. Subject to and upon the terms of this Agreement, each Lender severally agrees to make a loan (each a "Term Loan B"; and collectively, the "Term Loans B") to the Borrower in the principal amount set forth below opposite such Lender's name (herein called such Lender's "Term Loan B Committed Amount"). The total of each Lender's Term Loan B Committed Amount is herein called the "Total Term Loan B Committed Amount". The proportionate share set forth below opposite each Lender's name is herein called such Lender's "Term Loan B Pro Rata Share": -------------------------------------------------------------------------------- Term Loan B Committed Term Loan B Pro Rata Lender Amount Share -------------------------------------------------------------------------------- Fleet $3,181,850 18.182% -------------------------------------------------------------------------------- GE Capital $3,446,975 19.697% -------------------------------------------------------------------------------- Bank of America $3,446,975 19.697% -------------------------------------------------------------------------------- Xxxxxx $2,651,600 15.152% -------------------------------------------------------------------------------- PNC $2,651,600 15.152% -------------------------------------------------------------------------------- LaSalle $2,121,000 12.120% -------------------------------------------------------------------------------- Total Term Loan B Committed Amount $17,500,000 100% -------------------------------------------------------------------------------- At the request of the Borrower, the Lenders have agreed to increase the Total Term Loan B Committed Amount and to readvance a portion of principal amount of Term Loans B previously advanced to the Borrower and repaid by the Borrower (the "Term Loan B Increase"), such that as of the Closing Date the aggregate unpaid principal balance of the Term Loans B shall be equal to Seventeen Million Five Hundred Thousand Dollars ($17,500,000). The Borrower covenants and agrees to use the Term Loan B Increase solely to finance the acquisition of the Poly-Seal Stock in accordance with the provisions of the Poly-Seal Stock Purchase Transaction or for other Permitted Uses in connection with the purchase of the Poly-Seal Stock. The obligation of each Lender to make a Term Loan B (including its Pro Rata Share of the Term Loan B Increase) is several and is limited to its Term Loan B Committed Amount, and such obligation of each Lender is herein called...
Term Loan B Commitments. Subject to the terms and conditions hereof, each Term Loan B Lender severally agrees to make a term loan (collectively, the “Term Loan B Loans”) under the Term Loan B Facility to the Borrower on the Term Loan B Funding Date in an amount not to exceed the amount of the Term Loan B Commitment of such Lender. The Term Loan B Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.6 and 2.13.
Term Loan B Commitments. Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender with a Term Loan B Commitment severally agrees to make a term loan (the "Term Loan B") to the Borrower and the Co-Borrowers in an amount equal to such Lender's Term Loan B Commitment. With respect to each Lender which has a Term Loan B outstanding to the Borrower and the Co-Borrowers immediately prior to Amendment No. 4 Closing Date and is not increasing the amount of its Term Loan B Commitment, such Term Loans B shall continue outstanding after giving effect to the increases in the Commitments effective on Amendment No. 4
Term Loan B Commitments. On the date of each repayment or prepayment of the Term B Loan, the aggregate Term B Commitments of the Lenders shall be automatically and permanently reduced, on a pro rata basis, by an amount equal to the amount by which the aggregate Term B Commitments immediately prior to such reduction exceed the aggregate unpaid principal amount the Term B Loans then outstanding.
Term Loan B Commitments. (a) Subject to the terms and conditions hereof and subject to the Bankruptcy Court Orders, the Term Loan B Lenders severally agree to make term loans (each, a “Term Loan B”) to the Borrower at any time and from time to time, or until the earlier reduction of its Term Loan B Commitment to zero in accordance with the terms hereof, (i) in a principal amount for each Term Loan B not to exceed such Lender’s unused Term Loan B Commitment at such time and (ii) in an aggregate principal amount for each Lender not to exceed the amount of the initial Term Loan B Commitment of such Lender on the Interim Facility Effective Date. The Term Loan B may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Section 2.3. The Term Loan B shall be denominated in Dollars.
Term Loan B Commitments. Subject to the terms and conditions hereof, each Term Loan B Lender severally agrees to make term loans (collectively, “Term Loan B Loans”) to the Borrower on up to three separate funding dates during the Term Loan B Commitment Period in an aggregate principal amount at any one time outstanding which does not to exceed the amount of the Term Loan B Commitment of such Lender. The first borrowings of the Term Loan B Loans shall occur on the Closing Date; the second borrowing of the Term Loan B Loans shall occur on or prior to the date that is 50 days after the Closing Date; the final borrowing of the Term Loan B Loans shall occur on or before the Term Loan B Commitment Termination Date. The Term Loan B Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.6 and 2.13.
