Common use of Term Loan B Clause in Contracts

Term Loan B. (i) Subject to the terms and conditions hereof, each Term B Lender agrees to make a term loan (collectively, the “Term Loan B”) on the Closing Date to Borrower in the amount of such Term B Lender’s Term Loan B Commitment. The obligations of each Term B Lender hereunder shall be several and not joint. Each such Term Loan B shall be evidenced by a promissory note substantially in the form of Exhibit 1.1(c) (each a “Term B Note” and collectively the “Term B Notes”), and, except as provided in Section 1.12, Borrower shall execute and deliver a Term B Note to each applicable Term B Lender. Each Term B Note shall represent the obligation of Borrower to pay the amount loaned by each Term B Lender pursuant to such Term B Lender’s Term Loan B Commitment, together with interest thereon as prescribed in Section 1.5. Amounts repaid on Term Loan B may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Navarre Corp /Mn/)

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Term Loan B. (i) Subject to the terms and conditions hereof, each Term B Lender (Term Loan B) agrees to make a term loan (collectively, the “Term Loan B”) on the Closing Date to Borrower Borrowers in the original principal amount of such Term B Lender’s its Term Loan B CommitmentCommitment (Term Loan B) (the "TERM LOAN (TERM LOAN B"). The obligations of each Term B Lender (Term Loan B) hereunder shall be several and not joint. Each such Such Term Loan B shall be evidenced by a promissory note notes substantially in the form of Exhibit 1.1(cEXHIBIT 1.1(D) (each a “Term B Note” "TERM NOTE (TERM LOAN B)" and collectively the “Term B Notes”"TERM NOTES (TERM LOAN B)"), and, except as provided in Section 1.12, Borrower and Borrowers shall execute and deliver a Term B Note (Term Loan B) to each applicable Term B LenderLender (Term Loan B). Each Term B Note (Term Loan B) shall represent the obligation of Borrower Borrowers to pay the amount loaned by each of the applicable Term B Lender pursuant to such Term B Lender’s 's (Term Loan B CommitmentB) Term Loan Commitment (Term Loan B) to Borrowers, together with interest thereon as prescribed in Section SECTION 1.5. Amounts repaid on Term Loan B may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Hi Rise Recycling Systems Inc)

Term Loan B. (i) Subject to the terms and conditions hereof, each Term B Lender agrees to make a term loan (collectively, the “Term Loan B”) on the Closing Date to Borrower (A) Selfix (the "Selfix Term Loan B") in the original principal amount of such its Selfix Term Loan B Lender’s Commitment; (B) Tamor (the "Tamor Term Loan B") in the original principal amount of its Tamor Term Loan B Commitment, and (C) Shutters (the "Shutters Term Loan B" and, collectively with the Selfix Term Loan B and the Tamor Term Loan B, the "Term Loan B") in the original principal amount of its Shutters Term Loan B Commitment. The obligations of each Term B Lender hereunder shall be several and not joint. Each such Term B Loan B shall be evidenced by a promissory note notes substantially in the form of Exhibit 1.1(c1.1(b) (each a "Term B Note” Note B" and collectively the "Term B Notes"), and, except as provided in Section 1.12, and each Borrower shall execute and deliver a its respective Term Note B Note to each the applicable Term B Lender. Each Term Note B Note shall represent the obligation of the applicable Borrower to pay the amount loaned by each Term B Lender pursuant to such Term B Lender’s of its Term Loan B Commitmentto the applicable Lender, together with interest thereon as prescribed in Section 1.5. Amounts repaid on Term Loan B may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Home Products International Inc)

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Term Loan B. (i1) Subject to the terms and conditions hereof, each Term B Lender agrees to make a term loan (collectively, the "Term Loan B" and, together with the Term Loan A, the "Term Loan") on the Closing Date to Borrower in the original principal amount of such Term B Lender’s its Term Loan B Commitment. The obligations of each Term B Lender hereunder shall be several and not joint. Each such The Term Loan B shall be evidenced by a promissory note notes substantially in the form of Exhibit 1.1(c1.1(b) (each a "Term B Note” and ", collectively the "Term B Notes" and, together with the Term A Notes, the "Term Notes", each a "Term Note"), and, except as provided in Section 1.12, Borrower shall execute and deliver a each Term B Note to each the applicable Term B Lender. Each Term B Note shall represent the obligation of Borrower to pay the amount loaned by each Term B Lender pursuant to such of the applicable Term B Lender’s 's Term Loan B Commitment, together with interest thereon as prescribed in Section 1.5. Amounts repaid on Term Loan B may not be reborrowed.

Appears in 1 contract

Samples: Credit Agreement (Butler International Inc /Md/)

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