Term Loans A. Subject to and upon the terms and conditions of this Agreement, the Lenders agree to make on the date hereof, severally and not jointly, according to each Lender’s Term Loan Commitment Amount, term loans to Borrower in the aggregate principal amount of $10,000,000 (each a “Term Loan A” and, collectively, the “Term Loans A”). Each Term Loan A shall be deemed made as of October 13, 2016. The proceeds of the Term Loans A shall be used (A) first, to refinance the aggregate principal amount of all ‘term loans’ then outstanding under this Agreement (but without the requirement to pay any Prepayment Fee which is hereby waived) and (B) second, for general working capital purposes, for capital equipment purchases, to pay Lender Expenses and to pay the fees under this Agreement. For the avoidance of doubt, the difference between $10,000,000 and the outstanding balance of the existing term loans will be credited to Borrower’s account, and no Prepayment Fee will be due in connection with the foregoing refinancing.
Term Loans A. Section 2.2 of the Agreement is hereby amended in its entirety as follows:
Term Loans A. Subject to the terms and conditions hereof, the Term Loans A, or portions thereof, may be outstanding as either Prime Lending Rate Portions or LIBOR Lending Rate Portions, by designating, in accordance with Sections 2.5(b) and 2.6(b), either the Prime Lending Rate, or the LIBOR Lending Rate to apply to all or any portion of the unpaid principal balance of the Term Loans A; provided, however, there shall be no more than three (3) LIBOR Lending Rate Portions of the Term Loans A outstanding at any time. LIBOR Lending Rate Portions of the Term Loans A shall be in minimum amounts each of $1,000,000; provided, further, as soon as possible, but in no event more than ninety (90) days following the Amendment Date, Borrowers shall have the option upon three (3) Business Days’ prior written notice to Agent, to either (1) convert one-half of the outstanding balance of the Term Loans A (i.e., the Fixed Rate Portion of the Term Loans A) to COF Lending Rate Loans or (2) enter into an interest rate swap agreement in form and substance satisfactory to the Term Loan A Lenders with respect to the Fixed Rate Portion of the Term Loans A. If Borrowers fail to exercise such option, the Term Loans A shall continue to be outstanding as either Prime Lending Rate Portions or LIBOR Lending Rate Portions in accordance with this clause (ii). Once the Fixed Rate Portion of the Term Loans A has been converted to the COF Lending Rate Loans pursuant to this clause (ii), such COF Lending Rate Loans may not be converted back to Prime Lending Rate Portions or LIBOR Lending Rate Portions.
Term Loans A. Subject to and upon the terms and conditions of this Agreement, Bank agrees to make one (1) or more term loans to Borrower in an aggregate principal amount not to exceed One Million Five Hundred Thousand Dollars ($1,500,000) (each a “Term Loan A” and collectively the “Term Loans A”). Borrower may request Term Loans A at any time from the date hereof through the Availability End Date. The proceeds of the Term Loans A shall be used for general working capital purposes.
Term Loans A. The Borrower shall repay to the Administrative Agent for the account of the Term A Lenders on the last Business Day of each March, June, September and December (each, a “Principal Payment Date”), commencing on March 31, 2016, a principal repayment installment in the respective amount set forth opposite each such date (which installments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.04), unless accelerated sooner pursuant to Section 8.02: Payment Dates Principal Repayment Installments March 31, 2016 $875,000.00 June 30, 2016 $875,000.00 September 30, 2016 $875,000.00 December 31, 2016 $875,000.00 March 31, 2017 $1,750,000.00 June 30, 2017 $1,750,000.00 September 30, 2017 $1,750,000.00 December 31, 2017 $1,750,000.00 March 31, 2018 $1,750,000.00 June 30, 2018 $1,750,000.00 September 30, 2018 $1,750,000.00 December 31, 2018 $1,750,000.00 March 31, 2019 $2,187,500.00 June 30, 2019 $2,187,500.00 September 30, 2019 $2,187,500.00 December 31, 2019 $2,187,500.00 March 31, 2020 $2,625,000.00 June 30, 2020 $2,625,000.00 September 30, 2020 $2,625,000.00 Maturity Date Full Outstanding Amount of Term Loans A provided, however, that the final principal repayment installment of the Term Loans A shall be repaid on the Maturity Date (whenever such date may occur) and in any event shall be in an amount equal to the aggregate Outstanding Amount of all Term Loans A outstanding on such date.
Term Loans A. As of December 3, 2014, $2,000,000 in aggregate principal amount of term loans have been issued and are outstanding under this Agreement. All of such term loans are hereby designated as the “Term Loan A.”
Term Loans A. Each Lender that has a Term Loan A Commitment severally (and not jointly) agrees to lend to Borrower on the Closing Date an amount not exceeding the lesser of the amount of its Term Loan A Commitment and its Pro Rata Share of the aggregate amount of the Term Loan A Commitments to be used for the purposes identified in subsection 2.5A. The amount of each Lender’s Term Loan A Commitment is set forth opposite its name on Schedule 2.1 annexed hereto, and the aggregate amount of the Term Loan A Commitments is Thirty-Five Million Dollars ($35,000,000); provided that the Term Loan A Commitments of Lenders at any given time shall be adjusted to give effect to any assignments of the Term Loan A Commitments pursuant to subsection 10.1B. Each Lender’s Term Loan A Commitment shall expire immediately and without further action on the Closing Date. Borrowings by Borrower under the Term Loan A Commitments shall be limited to the borrowing on the Closing Date. Amounts borrowed under this subsection 2.1A(i) and subsequently repaid or prepaid may not be reborrowed.
Term Loans A. The Second Amendment Delayed Draw Term Loan A Commitment of each Lender shall be automatically and permanently reduced to $0 upon the Second Amendment Delayed Draw Term Loan A Commitment Termination Date.
Term Loans A. Subject to the terms and conditions hereof, each Term Lender severally agrees to maintain hereunder a portion of its “Loans” presently outstanding under the Existing Credit Agreement as Term Loans denominated in Dollars under one or more Term Facilities as set forth with respect to such Term Lender on Schedule 1.01A. The Term Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Section 2.06; provided that there shall not at any time be more than a total of 3 Eurocurrency Term Loan Borrowings outstanding under any Term Facility. At the commencement of each Interest Period for any Eurocurrency Term Loan Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $10,000,000. At the time that each ABR Term Loan Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided, that an ABR Term Loan Borrowing may be in an aggregate amount that is equal to any portion of any Term Facility that is not outstanding under any other Borrowing.
Term Loans A. Subject to the terms and conditions of this Agreement (including, without limitation, SECTION 2.13(A) and ARTICLE 6), each Lender severally agrees to make one or more loans to the Borrower from time to time from and including the Closing Date to but excluding the Term Loans A Commitment Termination Date up to but not exceeding the amount (if any) of such Lender's Term Loans A Commitment as then in effect (such loans referred to in this SECTION 2.1(A) now or hereafter made by the Lenders to the Borrower, including, without limitation, such loans which remain outstanding after the Term Loans A Commitment Termination Date, are hereinafter collectively called the "TERM LOANS A"). The Borrower may not reborrow the Term Loans A which have been repaid.
