Common use of TERM LOAN COMPONENT Clause in Contracts

TERM LOAN COMPONENT. Borrower acknowledges, agrees and confirms that as of the date hereof the outstanding principal balance of the Term Loan Component is $15,105,600.00, which amount shall be repaid as provided in Section 2.4. Borrower further acknowledges, agrees and confirms that Borrower shall have no right to re-borrow or borrow, nor shall Lenders have any obligation to make any additional loan or loans to Borrower with respect to the Term Loan Component. Borrower's obligation to repay the principal of and interest on the Loan or Loans comprising the Term Loan Component shall be evidenced by a Term Loan Component Note to Agent, as agent for each Lender, which Note shall be dated as of the date hereof and be in the stated principal amount of the Term Loan Component, increased by the Facility Fee. The Term Loan Component Note will mature on the Final Maturity Date, bear interest as provided in Section 2.3 and be otherwise entitled to the benefits of this Agreement. At the election of any Lender, Borrower shall execute and deliver to such Lender a Term Loan Component Note in a stated principal amount equal to such Lender's Pro Rata Percentage of the Loan, which Note or Notes shall be on the same terms and conditions as provided above and which Note or Notes shall be included within the definition of "Term Loan Component Note" as such term is used herein.

TERM LOAN COMPONENT. Borrower acknowledges, agrees and confirms that as of the date hereof the outstanding principal balance of the Term Loan Component is $15,105,600.0014,895,800.00, which amount shall be repaid as provided in Section 2.4. Borrower further acknowledges, agrees and confirms that Borrower shall have no right to re-borrow or borrow, nor shall Lenders have any obligation to make any additional loan or loans to Borrower with respect to the Term Loan Component. Borrower's obligation to repay the principal of and interest on the Loan or Loans comprising the Term Loan Component shall be evidenced by a Term Loan Component Note to Agent, as agent for each Lender, which Note shall be dated as of the date hereof and be in the stated principal amount of the Term Loan Component, increased by the Facility Fee. The Term Loan Component Note will mature on the Final Maturity Date, bear interest as provided in Section 2.3 and be otherwise entitled to the benefits of this Agreement. At the election of any Lender, Borrower shall execute and deliver to such Lender Lender, a Term Loan Component Note in a stated principal amount equal to such Lender's Pro Rata Percentage of the Loan, which Note or Notes shall be on the same terms and conditions as provided above and which Note or Notes shall be included within the definition of "Term Loan Component Note" as such term is used herein.