Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 3 contracts
Sources: Credit Agreement (iHeartMedia, Inc.), Credit Agreement (iHeartMedia, Inc.), Credit Agreement (iHeartMedia, Inc.)
Term Loans. The Each of the Borrower shall and the Subsidiary Borrowers shall, jointly and severally, repay to the Administrative Agent (with any such payments to be allocated among the Borrower and the Subsidiary Borrowers ratably in accordance with their then outstanding Designated Amounts except as specified by the Borrower in writing):
(i) for the ratable account of the Term Lenders (i) holding Term B-2 Loans, Term B-4 Loans and Term B-5 Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 2 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term B-2 Loans outstanding on the Closing Amendment No. 2 Effective Date (which including any Term B-2 Loans that were extended and converted into Term B-4 Loans on the Amendment No. 5 Effective Date and any Term B-2 Loans that were extended and converted into Term B-5 Loans on the Restatement Effective Date); provided, that (A) such payments shall be reduced (with such reduction applied ratably among Term B-2 Loans, Term B-4 Loans and Term B-5 Loans) as a result of the application of prepayments of Term Loans made after the Amendment No. 2 Effective Date and on or prior to the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05, and (B) such payments of any Class of Term Loans shall be further reduced as a result of the application of prepayments of such Class of Term Loans made after the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05), ; and
(ii) on for the last Business Day of each March, June, September and December, commencing with the last Business Day ratable account of the first fiscal quarter ending after the Amendment No. 1 Effective Dateapplicable Class of Term Lenders, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial any Class of Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term B-2 Loans, Refinancing Term B-4 Loans or Extended and Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term B-5 Loans, as applicable, shall be repaid by the Borrower in the amounts and outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 3 contracts
Sources: Credit Agreement (West Corp), Credit Agreement (West Customer Management Group, LLC), Credit Agreement (West Corp)
Term Loans. The Parent Borrower (and, in the case of the Tranche B Term Loans, the Subsidiary Co-Borrowers on a joint and several basis) shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) on the last dates set forth on Annex I to the Existing Credit Agreement, or if any such date is not a Business Day of each MarchDay, June, September and December, commencing with on the last immediately preceding Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Day, an aggregate principal amount of Initial the Tranche A Term Loans, the Tranche B Term Loans, the Tranche C Term Loans, the Delayed Draw 1 Term Loans deemed made on and the Closing Date Delayed Draw 2 Term Loans equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding set forth on Annex I to the Closing Date Existing Credit Agreement for such date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) together in each case with accrued and unpaid interest on the last Business Day principal amount to be paid to but excluding the date of each Marchsuch payment, June, September and December, commencing with on the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective applicable Maturity Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of (i) the aggregate principal amount of all Initial Tranche A Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and such date, (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Tranche B Term Loans outstanding on such date. In , (iii) the event any Incremental Term Loans, Refinancing aggregate principal amount of all Tranche C Term Loans or Extended outstanding on such date, (iv) the aggregate principal amount of all Delayed Draw 1 Term Loans are made, outstanding on such Incremental Term Loans, Refinancing date and (v) the aggregate principal amount of all Delayed Draw 2 Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 3 contracts
Sources: Credit Agreement (Clear Channel Communications Inc), Credit Agreement (Clear Channel Communications Inc), Credit Agreement (Clear Channel Communications Inc)
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) Commencing on December 31, 2013 and continuing on the last Business Day of each March, June, September and DecemberDecember thereafter, commencing with until the last Business Day of Maturity Date for the first full fiscal quarter ending after Term Facility, the Closing Date through and including Borrower shall repay to the fiscal quarter ending December 31, 2019, an Lender the aggregate outstanding principal amount of Initial the (i) 2012 Term Loans deemed made on Loan and (ii) the Closing Date Term Loan advanced as the Tender Offer Term Borrowing in equal quarterly installments in an amount sufficient to 0.25% of fully amortize the aggregate principal amount of all Initial such Term Loans outstanding on over a period of five (5) years (but in no event shall any quarterly installment be less than the Closing Date (amount that would have been due under the Original Credit Agreement), which payments amount shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05)2.04, unless accelerated sooner pursuant to Section 8.02.
(ii) Commencing on the last Business Day of the fiscal quarter in which the aggregate principal amount of the Term Loans advanced as Delayed Draw Term Borrowings first equals or exceeds $5,000,000, and continuing on the last Business Day of each March, June, September and DecemberDecember thereafter, commencing with the last Business Day of Borrower shall repay to the first fiscal quarter ending after Lender the Amendment No. 1 Effective Date, an aggregate outstanding principal amount of Initial the Term Loans deemed made on the Amendment No. 1 Effective Date advanced as Delayed Draw Term Borrowings, in equal quarterly installments, in an amount sufficient to 0.25% of fully amortize the aggregate principal amount of all Initial such Term Loans then outstanding on the Amendment No. 1 Effective Date over a period of five (5) years (which payments amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and 2.04), unless accelerated sooner pursuant to Section 8.02; provided, however, for the sake of clarity, that each time the Lender advances any additional Term Loans after the date that quarterly installment payments commence under this clause (ii), then the amount of the equal quarterly installments due under this clause (ii) shall in each instance be increased by an amount sufficient to fully amortize the aggregate principal amount of such additional Term Loans over a period of five (5) years.
(iii) Notwithstanding anything to the contrary herein, the final principal repayment installment of the Term Loans shall be repaid on the Maturity Date for the Initial Term Loans, Facility and in any event shall be in an amount equal to the aggregate entire principal amount of all Initial the Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 2 contracts
Sources: Credit Agreement (Hackett Group, Inc.), Credit Agreement (Hackett Group, Inc.)
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) Commencing on October 1, 2012 and continuing on the last Business Day of each March, June, September and DecemberDecember thereafter, commencing with the last Business Day of Borrower shall repay to the first full fiscal quarter ending after Lender the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate outstanding principal amount of Initial the Term Loans deemed made on advanced as the Closing Date Tender Offer Term Borrowing, in equal quarterly installments, in an amount sufficient to 0.25% of fully amortize the aggregate principal amount of all Initial such Term Loans outstanding on the Closing Date over a period of five (5) years (which payments amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.052.04), unless accelerated sooner pursuant to Section 8.02.
(ii) Commencing on the last Business Day of the fiscal quarter in which the aggregate principal amount of the Term Loans advanced as Delayed Draw Term Borrowings first equals or exceeds $5,000,000, and continuing on the last Business Day of each March, June, September and DecemberDecember thereafter, commencing with the last Business Day of Borrower shall repay to the first fiscal quarter ending after Lender the Amendment No. 1 Effective Date, an aggregate outstanding principal amount of Initial the Term Loans deemed made on the Amendment No. 1 Effective Date advanced as Delayed Draw Term Borrowings, in equal quarterly installments, in an amount sufficient to 0.25% of fully amortize the aggregate principal amount of all Initial such Term Loans then outstanding on the Amendment No. 1 Effective Date over a period of five (5) years (which payments amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and 2.04), unless accelerated sooner pursuant to Section 8.02; provided, however, for the sake of clarity, that each time the Lender advances any additional Term Loans after the date that quarterly installment payments commence under this clause (ii), then the amount of the equal quarterly installments due under this clause (ii) shall in each instance be increased by an amount sufficient to fully amortize the aggregate principal amount of such additional Term Loans over a period of five (5) years.
(iii) Notwithstanding anything to the contrary herein, the final principal repayment installment of the Term Loans shall be repaid on the Maturity Date for the Initial Term Loans, Facility and in any event shall be in an amount equal to the aggregate entire principal amount of all Initial the Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 2 contracts
Sources: Credit Agreement (Hackett Group, Inc.), Credit Agreement (Hackett Group, Inc.)
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on in quarterly installments in accordance with the Closing Date following amortization schedule (which payments amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), 2.06): First Loan Year 5% Second Loan Year 5% Third Loan Year 10% Fourth Loan Year 10% Fifth Loan Year 10% Total payments during each Loan Year shall equal an amount (such amount the “Loan Year Amount”) equal to (i) the applicable percentage listed above across from such Loan Year multiplied by (ii) the original principal amount of Term Loans drawn on the Term Loan Draw Date. Each quarterly payment due and payable during each Loan Year (except with regard to the Fifth Loan Year) shall equal one-fourth (1/4) of the Loan Year Amount for such Loan Year and shall be due and payable quarterly on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Term Loan Draw Date, and in any event at least thirty (30) days after the Term Loan Draw Date. With respect to the Fifth Loan Year, (x) each quarterly payment due and payable during such Fifth Loan Year shall consist of one-fourth (1/4) of the Loan Year Amount for the Fifth Loan Year and shall be due and payable on the last Business Day of March, June, September or December of such Loan Year, as applicable, and (y) the first fiscal quarter ending after final principal payment of the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made shall be due and payable on the Amendment No. 1 Effective Maturity Date and shall be in an amount equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 2 contracts
Sources: Credit Agreement (Meredith Corp), Credit Agreement (Meredith Corp)
Term Loans. (i) The Term Borrower shall repay to the Administrative Agent for the ratable account of the Tranche B-1 Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Tranche B-1 Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the applicable Maturity Date for the Initial Tranche B-1 Term Loans, the aggregate principal amount of all Initial Tranche B-1 Term Loans outstanding on such date. , in each case, unless accelerated sooner pursuant to Section 8.02.
(ii) The Term Borrower shall repay to the Tranche B-2 Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the first full quarter after the Closing Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Initial Tranche B-2 Term Loans outstanding on the Closing Date (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the applicable Maturity Date for the Initial Tranche B-2 Term Loans, the aggregate principal amount of all Initial Tranche B-2 Term Loans outstanding on such date, in each case, unless accelerated sooner pursuant to Section 8.02.
(iii) In the event that any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, Loans shall be repaid by the Term Borrower in the amounts and on in the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
(iv) If any principal repayment installment to be made by the Term Borrower (other than principal repayment installments on Eurocurrency Rate Loans) shall come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be and if any principal repayment installment to be made by the Term Borrower on a Eurocurrency Rate Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such principal repayment installment into another calendar month, in which event such principal repayment installment shall be due on the immediately preceding Business Day.
Appears in 2 contracts
Sources: Credit Agreement (C&J Energy Services Ltd.), Credit Agreement (C&J Energy Services Ltd.)
Term Loans. The Borrower Borrowers shall repay to the Administrative Agent for the ratable account of the Term Appropriate Lenders (iA) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to the sum of (i) 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date Date, and (ii) 0.25% of the aggregate principal amount of all funded Delayed Draw Term Loans (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05Sections 2.05 or 10.07 (including pursuant to Dutch auctions or open market purchases, but for the avoidance of doubt without a reduction in the outstanding principal amount of any Loans not prepaid pursuant to such Dutch auction or open market purchase, as applicable)), (iiB) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the First Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial First Amendment Term Loans outstanding on the First Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05Sections 2.05 or 10.07 (including pursuant to Dutch auctions or open market purchases, but for the avoidance of doubt without a reduction in the outstanding principal amount of any Loans not prepaid pursuant to such Dutch auction or open market purchase, as applicable)) and (iiC) on the Maturity Date for the Initial Term Loans, the Delayed Draw Term Loans and the First Amendment Term Loans, the aggregate principal amount of all Initial Term Loans, the Delayed Draw Term Loans and the First Amendment Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 2 contracts
Sources: Credit Agreement (Redwire Corp), Credit Agreement (Redwire Corp)
Term Loans. The Borrower shall repay Pursuant to the Administrative Agent for applicable Prior Credit Agreements, the ratable account of Lenders have each heretofore made term loans (the "Term Lenders (iLoans") on to the last Business Day of Borrower each March, June, September and December, commencing with in the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate original principal amount of Initial Term Loans deemed made on $10,000,000, the Closing Date equal to 0.25% of the aggregate entire principal amount of all Initial which remains outstanding as of the date hereof, and as more fully provided in Section 6.3 hereof shall be deemed Term Loans outstanding on made pursuant hereto. The amount of each Term Loan which each Lender so made to the Closing Date Borrower is as set forth opposite such Lender's signature hereto under the heading "Term Credit Commitment" (which payments collectively, the "Term Credit Commitments" and individually, a "Term Credit Commitment"). The Term Loan made by each Lender to the Borrower shall be reduced as evidenced by a result term loan note of the application of prepayments in accordance with Borrower (individually a "Term Loan Note" and collectively the "Term Loan Notes") payable to the order of priority such Lender in the amount of its Term Credit Commitment, with each such Term Loan Note to be in the form (with appropriate insertions) attached hereto as Exhibit B. Each Term Loan Note shall be dated the date of issuance thereof, be expressed to bear interest as set forth in Section 2.05), 2 hereof (ii) on it being acknowledged and agreed that the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate entire principal amount of Initial each of the Term Loans deemed made on currently bears interest at a fixed rate of interest which shall continue and constitute Offered Rate Portions for all purposes hereof with Interest Periods ending June 30, 2002 in the Amendment No. 1 Effective Date equal to 0.25% case of the aggregate principal amount ▇▇▇▇▇▇ and B of all Initial A Term Loans outstanding on and June 26, 2002 in the Amendment No. 1 Effective Date (which payments shall be reduced as a result case of the application of prepayments in accordance with the order of priority set forth in Section 2.05NBD Bank Term Loan) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate be expressed to mature in monthly principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, installments as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereoftherein provided.
Appears in 2 contracts
Sources: Revolving and Term Credit Agreement (Hewitt Associates Inc), Revolving and Term Credit Agreement (Hewitt Associates Inc)
Term Loans. The Borrower shall repay (a) Subject to the Administrative Agent for provisions of this Section 2.2 and Article III hereof and the ratable account of the Term Lenders other terms and conditions set forth in this Agreement
(i) Lender agrees to make Term Loans to Borrowers at Administrative Borrower’s request on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending any date occurring on or after the Closing Date through and including on or prior to July 1, 2024, in such amount as Borrowers may request in accordance with Section 2.7 hereof;
(ii) The Term Loan Facility is not a revolving credit facility and any portion of a Term Loan that is repaid or prepaid may not be reborrowed;
(iii) On the fiscal quarter ending December 31date on which each Term Loan shall be made to Borrowers, 2019the Term Loan Commitment shall be automatically and permanently reduced on such date by an amount equal to the aggregate original principal amount of such Term Loan;
(iv) Any portion of the Term Loan Commitment that has not been funded by Lender to Borrowers shall expire and be terminated upon the earlier to occur of (i) 5:00 p.m. Pacific time on July 1, an 2024 and (ii) the Term Loan Maturity Date.
(b) The aggregate principal amount of Initial Term Loans deemed made on hereunder shall not exceed the Closing Date equal Maximum Term Amount.
(c) Subject to 0.25% of Section 2.2(b) hereof, each Borrowing under the aggregate Term Loan Facility shall be in a minimum principal amount of all Initial Term Loans outstanding on $500,000 and, thereafter, in integral multiples of $100,000, unless such Borrowing is being made to pay any interest, fees, or expenses then due hereunder, in which case such Borrowing may be in the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loanssuch interest, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loansfees, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofexpenses.
Appears in 1 contract
Sources: Credit Agreement (Silvercrest Asset Management Group Inc.)
Term Loans. The Borrower Borrowers shall repay to the Administrative Agent for (i) the ratable account of the Term Lenders holding each Class of Term B-34 Loans in Dollars (iA) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending second such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 24 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all the Term B-34 Loans funded or converted on the Amendment No. 2 Effective Date; provided, that, such amount shall be increased on the Incremental Amendment No. 1 Effective Date in the same proportion as (x) the aggregate principal amount of the Term B-3 Loans (including Initial Term B-3 Loans and Additional Term B-3 Loans) outstanding immediately following the funding of the Additional Incremental Term B-3 Loans on the Incremental Amendment No. 1 Effective Date bears to (y) the amount of the Term B-3 Loans outstanding immediately prior to the funding of the Additional Incremental Term B-3 Loans on the Incremental Amendment No. 1 Effective Date; provided, further that such amount shall be increased on the Incremental Amendment No. 2 Effective Date in the same proportion as (I) the aggregate principal amount of the Term B-3 Loans (including the Initial Term B-3 Loans, the Additional Term B-3 Loans, the Additional Incremental Term B-3 Loans and the Second Additional Term B -3 Loans) outstanding immediately following the funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date bears to (II) the amount of the Term B-3 Loans outstanding immediately prior to the funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date and (B) on the Maturity Date for the Term B-3 Loans, the aggregate principal amount of all Term B-3 Loans outstanding on such date4 Effective Date and (ii) for the ratable account of the Term Lenders holding each class of Term A Loans in Dollars (i) on the last Business Date of each March, June, September and December, (A) commencing with the last Business Day of March 2020 until the third anniversary of the Incremental Amendment No. 4 Closing Date, an aggregate principal amount equal to 0.625% of the aggregate principal of Term A Loans funded on the Incremental Amendment No. 4 Closing Date and (which B) thereafter, an aggregate principal amount equal to 1.25% of the aggregate principal of Term A Loans funded on the Incremental Amendment No. 4 Closing Date and (ii) on the Maturity Date for the Term A Loans, the aggregate principal amount of all Term A Loans outstanding on such date; provided that payments required by Sections 2.07(a)(i)(A) and 2.07(a)(ii)(A) above shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower Borrowers in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment definitive documentation with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Sources: Credit Agreement (Restaurant Brands International Limited Partnership)
Term Loans. The Borrower Borrowers shall repay to the Administrative Agent for the ratable account of the Term Appropriate Lenders (iA) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to the sum of (i) 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date Date, and (ii) 0.25% of the aggregate principal amount of all funded Delayed Draw Term Loans (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05Sections 2.05 or 10.07 (including pursuant to Dutch auctions or open market purchases, but for the avoidance of doubt without a reduction in the outstanding principal amount of any Loans not prepaid pursuant to such Dutch auction or open market purchase, as applicable)), (iiB) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the First Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial First Amendment Term Loans outstanding on the First Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05Sections 2.05 or 10.07 (including pursuant to Dutch auctions or open market purchases, but for the avoidance of doubt without a reduction in the outstanding principal amount of any Loans not prepaid pursuant to such Dutch auction or open market purchase, as applicable)) and (iiC) on the Maturity Date for the Initial Term Loans, the Delayed Draw Term Loans and the First Amendment Term Loans, the aggregate principal amount of all Initial Term Loans, the Delayed Draw Term Loans and the First Amendment Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.”
Appears in 1 contract
Sources: Credit Agreement (Redwire Corp)
Term Loans. The Each of the Borrower shall and the Subsidiary Borrowers shall, jointly and severally, repay to the Administrative Agent (with any such payments to be allocated among the Borrower and the Subsidiary Borrowers ratably in accordance with their then outstanding Designated Amounts except as specified by the Borrower in writing):
(i) for the ratable account of the Term Lenders (i) holding Term B-2 Loans, Term B-4 Loans and Term B-5 Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 2 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term B-2 Loans outstanding on the Closing Amendment No. 2 Effective Date (which including any Term B-2 Loans that were extended and converted into Term B-4 Loans on the Amendment No. 5 Effective Date and any Term B-2 Loans that were extended and converted into Term B-5 Loans on the Restatement Effective Date); provided, that (A) such payments shall be reduced (with such reduction applied ratably among Term B-2 Loans, Term B-4 Loans and Term B-5 Loans) as a result of the application of prepayments of Term Loans made after the Amendment No. 2 Effective Date and on or prior to the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05, and (B) such payments of any Class of Term Loans shall be further reduced as a result of the application of prepayments of such Class of Term Loans made after the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05), ;
(ii) for the ratable account of the Term B-6 Lenders, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending such date to occur after the First Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term B-6 Loans outstanding on the First Amendment No. 1 Effective Date (which Date; provided that such payments of Term B-6 Loans shall be reduced as a result of the application of prepayments of Term B-6 Loans made after the First Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(iii) for the ratable account of the Term B-7 Lenders, on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Third Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-7 Loans outstanding on the Third Amendment Effective Date (including any Term B-4 Loans and Term B-5 Loans that were converted into Term B-7 Loans on the Third Amendment Effective Date); provided that such payments of Term B-7 Loans shall be reduced as a result of the application of prepayments of Term B-7 Loans made after the Third Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(iv) for the ratable account of the Term B-8 Lenders, on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Third Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-8 Loans outstanding on the Third Amendment Effective Date (including any Term B-4 Loans, Term B-5 Loans and Term B-6 Loans that were converted into Term B-8 Loans on the Third Amendment Effective Date); provided that such payments of Term B-8 Loans shall be reduced as a result of the application of prepayments of Term B-8 Loans made after the Third Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(i) (v) for the ratable account of the Term B-9 Lenders, on the last Business Day of each March, June, September and December, commencing on the last Business Day of September, 2014, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-9 Loans outstanding on the Fourth Amendment Effective Date (including any Term B-7 Loans that were converted into Term B-9 Loans on the Fourth Amendment Effective Date); provided that such payments of Term B-9 Loans shall be reduced as a result of the application of prepayments of Term B-9 Loans made after the Fourth Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(ii) (vi) for the ratable account of the Term B-10 Lenders, on the last Business Day of each March, June, September and December, commencing on the last Business Day of September, 2014, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-10 Loans outstanding on the Fourth Amendment Effective Date (including any Term B-7 Loans and Term B-8 Loans that were converted into Term B-10 Loans on the Fourth Amendment Effective Date); provided that such payments of Term B-10 Loans shall be reduced as a result of the application of prepayments of Term B-10 Loans made after the Fourth Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(iii) for the ratable account of the Term A-1 Lenders, on the last Business Day of each March, June, September and December prior to the Maturity Date for the Term A-1 Loans, commencing on the last Business Day of the first full fiscal quarter following the Term A-1 Incurrence Date, an aggregate amount equal to (w) on each such date occurring prior to the first anniversary of the Fifth Amendment Effective Date, 0.625% of the aggregate amount of all Term A-1 Loans outstanding on the Term A-1 Incurrence Date, (x) on each such date occurring on or after the first anniversary of the Fifth Amendment Effective Date but prior to the second anniversary of the Fifth Amendment Effective Date, 1.25% of the aggregate amount of all Term A-1 Loans outstanding on the Term A-1 Incurrence Date, (y) on each such date occurring on or after the second anniversary of the Fifth Amendment Effective Date but prior to the third anniversary of the Fifth Amendment Effective Date, 1.875% of the aggregate amount of all Term A-1 Loans outstanding on the
(iv) (vii) for the ratable account of the applicable Class of Term Lenders, on the Maturity Date for the Initial any Class of Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term B-2 Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term B-4 Loans, Refinancing Term B-5 Loans, Term B-6 Loans, Term B-7 Loans, Term B-8 Loans, Term B-9 Loans, Term B-10 Loans or Extended and Term BA-101 Loans, as applicable, shall be repaid by the Borrower in the amounts and outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 1 contract
Sources: Credit Agreement (West Corp)
Term Loans. The Borrower shall repay unconditionally promises to pay to the Administrative Agent for the ratable account of each Bank the then unpaid principal amount of the Term Lenders (i) Loan of such Bank in consecutive quarterly installments payable on the last Business Day of each of March, June, September and December, December (each a “Loan Installment Date”) (commencing with the last Business Day of the first full fiscal quarter ending after following the Closing Date through and including the fiscal quarter ending December 31first date on which such Term Loan is funded), 2019, with each such installment being an aggregate principal amount of Initial Term Loans deemed made on the Closing Date for all Banks equal to 0.25% of the aggregate outstanding principal amount of all Initial the Term Loans funded prior to the applicable Loan Installment Date times (x) for each such payment made on or prior to the first anniversary of the Effective Date, 0.625% per quarter, (y) for each such payment made after the first anniversary of the Effective Date but on or prior to the second anniversary of the Effective Date 1.25% per quarter and (z) for each such payment made after the second anniversary of the Effective Date, 2.50% per quarter, with the remaining principal amount of Term Loans then outstanding due and payable in full on the Closing Date (which payments shall Maturity Date, together with accrued and unpaid interest on the principal amount to be reduced as a result paid but excluding the date of such payment, in each case of the application of prepayments in accordance with the order of priority set forth in Section 2.05foregoing clauses (x), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05y) and (iiz) as the amounts of individual installments may be adjusted pursuant to Section 2.10 (and, if applicable, as may be required pursuant to Article 6 or Section 2.18); provided that to the extent not previously paid (A) the aggregate unpaid principal balance of the Non-Extended Term Loans shall be due and payable on the Maturity Date and (C) the aggregate unpaid principal balance of the Extended Term Loans shall be due and payable as provided in Section 2.5(c).
(c) In addition to the principal payments listed in Section 2.5(b), the Borrower unconditionally promises to pay to the Administrative Agent for the Initial account of each Extending Term Loans, Loan Bank the aggregate then unpaid principal amount of all Initial the Extended Term Loans outstanding Loan of such Bank in installments payable on such date. In the event any Incremental Term Loansdates as agreed to pursuant to Section 2.18, Refinancing Term Loans or provided that to the extent not previously paid the aggregate unpaid principal balances of the Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts due and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and payable on the applicable Extended Maturity Date thereofDates.
Appears in 1 contract
Term Loans. The Borrower Borrowers shall repay to the Administrative Agent for the ratable account of the Term Appropriate Lenders (iA) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December March 31, 201920202021, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial allof Term B Loans outstanding on the Closing Date Dateand 2021 Incremental Term Loans equal to 0.252525% of the Term B Loans and the 2021 Incremental Term Loans (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the First Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (iiB) on the Maturity Date for the Initial Term B Loans and the 2021 Incremental Term Loans, the aggregate principal amount of all Initial Term B Loans and 2021 Incremental Term Loans outstanding on such date. In ; provided that the event amount of any such payment set forth above shall be adjusted to account for the addition of any Extended Term Loan or Incremental Term Loans to contemplate (A) the reduction in the aggregate principal amount of any Term B Loans or 2021 Incremental Term Loans that were converted in connection with the incurrence of such Extended Term Loans, and (B) any increase to payments to the extent and as required pursuant to the terms of any applicable Incremental Amendment involving a Term Loan Increase to the Term B Loans or 2021 Incremental Term Loans, a Refinancing Amendment to the amount of Term B Loans or 2021 Incremental Term Loans or Extended an Extension Amendment increasing the amount of Term B Loans are made, such or 2021 Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Sources: First Lien Credit Agreement (Option Care Health, Inc.)
Term Loans. The Parent Borrower (and, in the case of the Tranche B Term Loans, the Subsidiary Co-Borrowers on a joint and several basis) shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) on the last dates set forth on Annex I to the Existing Credit Agreement, or if any such date is not a Business Day of each MarchDay, June, September and December, commencing with on the last immediately preceding Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Day, an aggregate principal amount of Initial the Tranche A Term Loans, the Tranche B Term Loans, the Tranche C Term Loans, the Delayed Draw 1 Term Loans deemed made on and the Closing Date Delayed Draw 2 Term Loans equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding set forth on Annex I to the Closing Date Existing Credit Agreement for such date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) together in each case with accrued and unpaid interest on the last Business Day principal amount to be paid to but excluding the date of each Marchsuch payment, June, September and December, commencing with on the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective applicable Maturity Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of (i) the aggregate principal amount of all Initial Tranche A Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and such date, (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Tranche B Term Loans outstanding on such date. In , (iii) the event any Incremental Term Loans, Refinancing aggregate principal amount of all Tranche C Term Loans or Extended outstanding on such date, (iv) the aggregate principal amount of all Tranche D Term Loans are madeoutstanding on such date, such Incremental Term Loans, Refinancing (v) the aggregate principal amount of all Tranche E Term Loans or Extended outstanding on such date (vi) the aggregate principal amount of all Delayed Draw 1 Term Loans, as applicable, shall be repaid by Loans outstanding on such date and (vvii) the Borrower in the amounts and aggregate principal amount of all Delayed Draw 2 Term Loans outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 1 contract
Sources: Credit Agreement (Clear Channel Communications Inc)
Term Loans. (i) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-1 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019March 2022, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount Dollar Amount of all Initial Term B-1 Loans outstanding on the Closing Amendment No. 1 Effective Date (which payments as such repayment amount shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-1 Loans, the scheduled amortization with respect to the Term B-1 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-1 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-1 Loans) and (ii) on the Maturity Date for the Term B-1 Loans, the aggregate principal amount of all Term B-1 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-1 Loans.
(ii) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective DateMarch 2022June 2024, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount Dollar Amount of all Initial Term B-2 Loans outstanding on the Amendment No. 1 Effective Date Date$2,392,264 (which payments as such repayment amount shall be reduced as a result of the application of prepayments in accordance with the order of priority determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-2 Loans, the scheduled amortization with respect to the Term B-2 Loans set forth in Section 2.05above shall be reduced ratably to reflect the percentage of Term B-2 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-2 Loans) and (ii) on the Maturity Date for the Initial Term B-2 Loans, the aggregate principal amount of all Initial Term B-2 Loans outstanding on such date. In ; provided that the event repayments under this clause may be adjusted to account for the addition of any Incremental Term Loans, Refinancing New Term Loans or Extended that are Term B-2 Loans.
(iii) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-3 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of September 2023, an aggregate amount equal to 0.25% of the aggregate principal Dollar Amount of all Term B-3 Loans are made, outstanding on the Term B-3 Incremental Amendment Effective Date (as such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, repayment amount shall be repaid by reduced as a result of the Borrower application of prepayments in accordance with the amounts and on order of priority determined under Section 2.05); provided that at the dates set forth in the Incremental Amendment, Refinancing Amendment or time of any effectiveness of any Extension Amendment with respect thereto to the Term B-3 Loans, the scheduled amortization with respect to the Term B-3 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-3 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-3 Loans) and (ii) on the applicable Maturity Date thereoffor the Term B-3 Loans, the aggregate principal amount of all Term B-3 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-3 Loans.
Appears in 1 contract
Term Loans. The Borrower shall repay In the case of the Term Loans, to the Administrative ----------- Agent for the ratable account of the Term Lenders not later than 9:00 A.M. (iCalifornia time) on the last day of the requested borrowing in the case of Base Rate Loans, and on the third Business Day of each March, June, September and December, commencing with prior to the last Business Day day of the first full fiscal quarter ending after requested borrowing in the Closing Date through case of Eurodollar Loans. Each such request for borrowing shall be irrevocable and including shall specify (A) that a Term Loan advance is requested and the fiscal quarter ending December 31respective tranche thereof, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of (B) the aggregate principal amount to be borrowed, and (C) whether the borrowing shall be comprised of all Initial Base Rate Loans, Eurodollar Loans or a combination thereof, and if Eurodollar Loans are requested, the Interest Period(s) therefor. A form of Loan Request is attached as Exhibit A-l. The ----------- Administrative Agent shall give notice to each Bank holding a Commitment for the requested Term Loan promptly upon receipt of each Loan Request pursuant to this Section 2.2(a)(iii), the contents thereof and each such Bank's share of any borrowing to be made pursuant thereto.
1.4 The first sentence of Section 2.2(d) is amended and restated in its entirety to read as follows: In connection with any request for a Loan, (i) Revolving Loans may be comprised of no more than ten (10) Eurodollar Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05)at any time, (ii) on the last Business Day Tranche A Term Loan shall be comprised of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term no more than four (4) Eurodollar Loans outstanding on at any time, and (iii) the Amendment No. 1 Effective Date (which payments Tranche B Term Loan shall be reduced as a result comprised of the application of prepayments in accordance with the order of priority set forth in Section 2.05no more than four (4) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Eurodollar Loans outstanding on such date. In the event at any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, time.
1.5 Section 2.4(b) is amended and restated in its entirety to read as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.follows:
Appears in 1 contract
Term Loans. The Each of the Borrower shall and the Subsidiary Borrowers shall, jointly and severally, repay to the Administrative Agent (with any such payments to be allocated among the Borrower and the Subsidiary Borrowers ratably in accordance with their then outstanding Designated Amounts except as specified by the Borrower in writing):
(i) for the ratable account of the Term Lenders (i) holding Term B-2 Loans, Term B-4 Loans and Term B-5 Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 2 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term B-2 Loans outstanding on the Closing Amendment No. 2 Effective Date (which including any Term B-2 Loans that were extended and converted into Term B-4 Loans on the Amendment No. 5 Effective Date and any Term B-2 Loans that were extended and converted into Term B-5 Loans on the Restatement Effective Date); provided, that (A) such payments shall be reduced (with such reduction applied ratably among Term B-2 Loans, Term B-4 Loans and Term B-5 Loans) as a result of the application of prepayments of Term Loans made after the Amendment No. 2 Effective Date and on or prior to the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05, and (B) such payments of any Class of Term Loans shall be further reduced as a result of the application of prepayments of such Class of Term Loans made after the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05), ;
(ii) for the ratable account of the Term B-6 Lenders, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending such date to occur after the First Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term B-6 Loans outstanding on the First Amendment No. 1 Effective Date (which Date; provided that such payments of Term B-6 Loans shall be reduced as a result of the application of prepayments of Term B-6 Loans made after the First Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(iii) for the ratable account of the Term B-7 Lenders, on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Third Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-7 Loans outstanding on the Third Amendment Effective Date (iiincluding any Term B-4 Loans and Term B-5 Loans that were converted into Term B-7 Loans on the Third Amendment Effective Date); provided that such payments of Term B-7 Loans shall be reduced as a result of the application of prepayments of Term B-7 Loans made after the Third Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(iv) for the ratable account of the Term B-8 Lenders, on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Third Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-8 Loans outstanding on the Third Amendment Effective Date (including any Term B-4 Loans, Term B-5 Loans and Term B-6 Loans that were converted into Term B-8 Loans on the Third Amendment Effective Date); provided that such payments of Term B-8 Loans shall be reduced as a result of the application of prepayments of Term B-8 Loans made after the Third Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05; and
(v) for the ratable account of the Term B-9 Lenders, on the last Business Day of each March, June, September and December, commencing on the last Business Day of September, 2014, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-9 Loans outstanding on the Fourth Amendment Effective Date (including any Term B-7 Loans that were converted into Term B-9 Loans on the Fourth Amendment Effective Date); provided that such payments of Term B-9 Loans shall be reduced as a result of the application of prepayments of Term B-9 Loans made after the Fourth Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(vi) for the ratable account of the Term B-10 Lenders, on the last Business Day of each March, June, September and December, commencing on the last Business Day of September, 2014, an aggregate amount equal to 0.25% of the aggregate amount of all
(vii) (v) for the ratable account of the applicable Class of Term Lenders, on the Maturity Date for the Initial any Class of Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term B-2 Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term B-4 Loans, Refinancing Term B-5 Loans, Term B-6 Loans, Term B-7 Loans or Extended and, Term B-8 Loans, Term B-9 Loans and Term B-10 Loans, as applicable, shall be repaid by the Borrower in the amounts and outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 1 contract
Sources: Credit Agreement (West Corp)
Term Loans. (a) The Borrower shall repay Series A Term Loan and the Series B Term Loan outstanding on the date hereof under the Existing Loan Agreement after giving effect to the Administrative Agent Prepayment Transactions shall constitute the "Term Loans" for purposes of this Agreement. The promissory notes evidencing the ratable account Term Loans shall be referred to herein as the "Term Notes."
(b) The principal amount of the Term Lenders Loans shall be payable in installments, together with accrued and unpaid interest thereon, on March 31, June 30, September 30 and December 31 of each year, commencing on March 31, 1999 and ending on December 31, 2001, as follows: Quarterly Payment Dates Amount Per Payment ----------------------- ------------------ March 31 through December 31, 1999 $ 2,000,000 March 31 through December 31, 2000 $10,000,000 March 31 through December 31, 2001 $13,750,000 ; PROVIDED, HOWEVER, that in any event the outstanding principal amount of the Term Loans shall be payable, together with accrued and unpaid interest thereon, no later than the Maturity Date.
(c) Not later than 10:00 A.M. on the second Business Day prior to the end of any Interest Period for each portion of a Term Loan consisting of a LIBOR Advance, Borrower shall deliver to Agent a notice in substantially the form of Exhibit A-1 hereto (a "Notice of Term Loan Conversion") electing to convert such LIBOR Advance into an Index Rate Advance or into a LIBOR Advance (or part into an Index Rate Advance and part into a LIBOR Advance), in each case effective at the end of the Interest Period for such Advance. Each such Notice of Term Advance or Conversion shall be in writing or by telephone to Agent's Account Executive, ▇▇▇-▇▇▇-▇▇▇▇, telex, telecopy or cable, if by telephone confirmed immediately in writing, specifying therein (consistent with this Agreement), inter alia, (i) on the aggregate amount and Type of Advance which is to be converted and the last Business Day of each March, June, September and December, commencing with the last Business Day day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05)current Interest Period for such Advance, (ii) the Type or Types of Advance into which such Advance is to be converted and the amount of each such Type and (iii) the Interest Period for each Advance which is to be a LIBOR Advance. If Borrower shall fail to provide a Notice of Term Advance or Conversion on or prior to 10:00 A.M. on the last second Business Day prior to the end of each Marchthe Interest Period in respect of any LIBOR Advance, June, September and December, commencing with such Advance shall automatically convert into an Index Rate Advance on the day following the last day of such Interest Period.
(d) Borrower shall be entitled to convert any portion of a Term Loan consisting of an Index Rate Advance into a LIBOR Advance by delivery to Agent, not later than 10:00 A.M. on the second Business Day prior to the date such conversion is to occur, of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount a Notice of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans Advance or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower Conversion in the amounts manner, and containing the relevant information indicated in, Section 2.2(c) hereof; provided, however, that no such conversion shall occur or be effective on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofany date which is not a Business Day.
Appears in 1 contract
Term Loans. The Parent Borrower (and, in the case of the Tranche B Term Loans, the Subsidiary Co-Borrowers on a joint and several basis) shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) on the last dates set forth on Annex I to the Existing Credit Agreement, or if any such date is not a Business Day of each MarchDay, June, September and December, commencing with on the last immediately preceding Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Day, an aggregate principal amount of Initial the Tranche A Term Loans, the Tranche B Term Loans, the Tranche C Term Loans, the Delayed Draw 1 Term Loans deemed made on and the Closing Date Delayed Draw 2 Term Loans equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding set forth on Annex I to the Closing Date Existing Credit Agreement for such date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) together in each case with accrued and unpaid interest on the last Business Day principal amount to be paid to but excluding the date of each Marchsuch payment, June, September and December, commencing with on the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective applicable Maturity Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of (i) the aggregate principal amount of all Initial Tranche A Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and such date, (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Tranche B Term Loans outstanding on such date. In , (iii) the event any Incremental Term Loans, Refinancing aggregate principal amount of all Tranche C Term Loans or Extended outstanding on such date, (iv) the aggregate principal amount of all Tranche D Term Loans are madeoutstanding on such date, such Incremental Term Loans, Refinancing (v) the aggregate principal amount of all Delayed Draw 1 Term Loans or Extended outstanding on such date and (v) the aggregate principal amount of all Delayed Draw 2 Term Loans, as applicable, shall be repaid by the Borrower in the amounts and Loans outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 1 contract
Sources: Credit Agreement (Clear Channel Communications Inc)
Term Loans. The Borrower shall repay (a) Upon the terms and conditions set forth in this Agreement, each Bank agrees to renew, modify and extend the loans made by it to the Administrative Agent for Company pursuant to the ratable account Prior Amended and Restated Loan Agreement and to convert $40,000,000 of such loans to principal outstanding under a term facility (the "Term Loans"). After giving effect to the foregoing, each Bank's Term Loan shall be evidenced by a Term Loan Note, payable to the order of such Bank in installments and bearing interest payable (except as otherwise provided in Article 3) on each Interest Payment Date and on the date when such Term Loan is paid in full at the rate or rates set forth in Section 2.04. The conversion of the indebtedness due to each Bank under the loans made to the Company pursuant to the Prior Amended and Restated Loan Agreement into the Term Lenders Loans under the terms of this Agreement, shall not effect a novation of, but shall be, to the fullest extent applicable, in modification, renewal, extension, rearrangement and replacement of, the loans made by the Banks to the Company pursuant to the Prior Amended and Restated Loan Agreement.
(ib) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an The aggregate principal amount of Initial the Term Loans deemed made on the Closing Date shall be payable in quarterly installments each in an amount equal to 0.25% of (i) for all quarterly installments prior to October 31, 2003 (the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05"Termination Date"), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) $1,000,000 and (ii) for the quarterly installment due on the Maturity Date for Termination Date, $14,000,000, which quarterly installments shall be payable on the Initial Term Loanslast day of each January, April, July and October of each year, commencing April 30, 1997 and ending on the first such date on which the aggregate unpaid principal amount of all Initial the Term Loans outstanding shall be paid in full by reason of quarterly installments paid as aforesaid and any prepayments made pursuant to Article 3 or otherwise (but in any event no later than the Termination Date).
(c) Each Bank shall post on a schedule attached to its Term Loan Note or in records relating to its Term Loan Note (i) the rate of interest such Term Loan will bear and (ii) each payment of principal and interest thereon; provided, however, that neither the failure to make any such postings nor any inaccuracy therein shall affect the Company's obligations under any Term Loan Note or this Agreement. The information set forth on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, schedule shall be repaid by rebuttably presumptive evidence of the Borrower matters described in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofimmediately preceding sentence.
Appears in 1 contract
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Appropriate Lenders (A) (i) on the last Business Day of each March, June, September and December, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 3 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.05(a)(vi)) and (y) shall not be made with respect to Initial Term Loans that were prepaid pursuant to Section 2.05(a)(vi)) and, (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Incremental B-4 Dollar Term Loan Amendment Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Incremental B-4 Dollar Term Loans outstanding on the Closing Incremental B-4 Dollar Term Loan Amendment Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.052.05 (excluding prepayments under Section 2.05(a)(vi)) and (y) shall not be made with respect to Incremental B-4 Dollar Term Loans that were prepaid pursuant to Section 2.05(a)(vi)), (iiiii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Amendment No. 1 6 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Incremental B-4 Euro Term Loans outstanding on the Amendment No. 1 6 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.052.05 (excluding prepayments under Section 2.05(a)(vi)) and (iiy) shall not be made with respect to Incremental B-4 Euro Term Loans that were prepaid pursuant to Section 2.05(a)(vi)), and (iv) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Amendment No. 6 Effective Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Incremental B-5 Euro Term Loans outstanding on the Amendment No. 6 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.05(a)(vi)) and (y) shall not be made with respect to Incremental B-5 Euro Term Loans that were prepaid pursuant to Section 2.05(a)(vi)), and (B) (i) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date and, (ii) on the Maturity Date for the Incremental B-4 Dollar Term Loans, the aggregate principal amount of all Incremental B-4 Dollar Term Loans outstanding on such date, (iii) on the Maturity Date for the Incremental B-4 Euro Term Loans, the aggregate principal amount of all Incremental B-4 Euro Term Loans outstanding on such date and (iv) on the Maturity Date for the Incremental B-5 Euro Term Loans, the aggregate principal amount of all Incremental B-5 Euro Term Loans outstanding on such date. In the event that any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such other Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Sources: Credit Agreement (Avantor, Inc.)
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Appropriate Lenders (ia) on the last Business Day of each March, June, September and DecemberDecember (each a “Principal Payment Date”), commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019March 31 2026, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to (i) 0.25% of the aggregate principal amount of all Initial Closing Date Term Loans outstanding on the Closing Date, in respect of the first four (4) Principal Payment Dates (commencing March 31, 2026), (ii) 0.75% of the aggregate principal amount of all Closing Date Term Loans outstanding on the Closing Date, in respect of the next four (4) Principal Payment Dates (i.e., commencing on March 31, 2027) and (iii) 1.25% of the aggregate principal amount of all Closing Date Term Loans outstanding on the Closing Date, in respect of each Principal Payment Date thereafter (i.e., commencing on March 31, 2028), in each case, which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (iib) on the Maturity Date for the Initial Closing Date Term Loans, the aggregate principal amount of all Initial Closing Date Term Loans outstanding on such date. In the event connection with any Incremental Term Loans that constitute part of the same Class as the Closing Date Term Loans, Refinancing the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Closing Date Term Loans or Extended comprising part of such Class continue to receive a payment that is not less than the same Dollar amount that such Term Loans are made, Lenders would have received absent the incurrence of such Incremental Term Loans; provided, Refinancing that if such Incremental Term Loans or Extended are to be “fungible” with the Closing Date Term Loans notwithstanding any other conditions specified in this Section 2.07(1), the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be agreed by Borrower and the Administrative Agent to ensure that the Incremental Term Loans will be “fungible” with the Closing Date Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Appropriate Lenders (ia) (x) with respect to the Closing Date Term Loans, (A) prior to the Amendment No. 2 Effective Date, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Closing Date Term Loans outstanding on the Closing Date and (which payments shall be reduced as a result B) after the Amendment No. 2 Effective Date (after giving effect to the borrowing of the application of prepayments in accordance with the order of priority set forth in Section 2.052021 Incremental Term Loans pursuant to Amendment No. 2), (ii) on the last Business Day of each March, June, September and December, commencing with March 31, 2021, an aggregate principal amount equal to $759,968.35 and (y) with respect to the 2020 Incremental Term Loans, on the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Dateeach March, June, September and December, commencing with June 30, 2020, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial 2020 Incremental Term Loans outstanding on the Amendment No. 1 Effective Date (after giving effect to the 2020 Incremental Term Loans pursuant to Amendment No. 1) (which payments payments, in the case of each of clauses (x) and (y), shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (iib) on the Maturity Date for the Initial Closing Date Term Loans and 2020 Incremental Term Loans, the aggregate principal amount of all Initial Closing Date Term Loans and 2020 Incremental Term Loans, respectively, outstanding on such date. In the event connection with any Incremental Term Loans that constitute part of the same Class as any existing Class of Term Loans, Refinancing the Borrower and the Administrative Agent shall be permitted to adjust the rate of prepayment in respect of such Class such that the Term Lenders holding Term Loans or Extended comprising part of such Class continue to receive a payment that is not less than the same Dollar amount that such Term Loans are made, Lenders would have received absent the incurrence of such Incremental Term Loans; provided, Refinancing that if such Incremental Term Loans or Extended are to be “fungible” with any existing Class of Term Loans, as applicablenotwithstanding any other conditions specified in this Section 2.07(1), shall the amortization schedule for such “fungible” Incremental Term Loan may provide for amortization in such other percentage(s) to be repaid agreed by Borrower and the Borrower in the amounts and on the dates set forth in Administrative Agent to provide that the Incremental Amendment, Refinancing Amendment Term Loans will be (or Extension Amendment will be deemed to be) “fungible” with respect thereto and on the applicable Maturity Date thereofexisting Class of Term Loans.
Appears in 1 contract
Sources: First Lien Credit Agreement (Convey Holding Parent, Inc.)
Term Loans. The Borrower shall repay Subject to the Administrative Agent for the ratable account satisfaction (or waiver in accordance with Section 10.02) of, (i) with respect to any borrowing of the Term Lenders (i) Loan on the last Business Day of each MarchClosing Date, June, September the Acquisition Funding Conditions and December, commencing (ii) with the last Business Day respect to any borrowing of the first full fiscal quarter ending Term Loan after the Closing Date through and including Date, the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority conditions set forth in Section 2.055.03, the Lenders, pursuant to the Term Loan Commitments (and in an aggregate amount not to exceed its Term Loan Commitment), shall make Term Loans to the Borrower in Dollars in up to three drawings during the Delayed Draw Availability Period; provided that, it is understood and agreed that (iii) the amount of Term Loans that may be drawn in any single drawing shall not be less than $10,000,000, increased by increments of $1,000,000 (or otherwise, (x) in the case of a drawing on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Closing Date, an aggregate principal amount constituting the remainder of the Term Loan Commitments remaining or (y) in the case of a drawing of Term Loans after the Closing Date, the lesser of (I) the amount of Initial Term Loans deemed made on Loan Commitments outstanding and (II) the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05Remaining Post-Closing Amount) and (ii) any drawing of Term Loans after the Closing Date shall not exceed the Remaining Post-Closing Amount as calculated on the Maturity Date for date of such drawing. The Borrower shall notify the Initial Administrative Agent, in accordance with the notice provisions of Section 2.02 hereof, whether the Advances will be comprised of Base Rate Advances or Term LoansSOFR Advances, or a combination thereof. The Term Loan may be a mixture of Base Rate Advances and Term SOFR Advances. Once the aggregate principal amount Term Loan is made, any portion of all Initial the Term Loans outstanding on such dateLoan repaid may not be re-borrowed. In The obligations of the event any Incremental Term Loans, Refinancing Term Loans or Extended Lenders hereunder to make the Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts several and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofnot joint.
Appears in 1 contract
Term Loans. The Borrower shall repay Each Tranche B-2 Term Loan Lender ---------------------- severally agrees, on the terms and conditions of this Agreement, to make term loans to the Administrative Agent for the ratable account of the Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through Borrowers in Dollars from and including the fiscal quarter ending December 31, 2019, Iowa Acquisition Consummation Date to and including the Term Loan Commitment Expiration Date in an aggregate principal amount up to but not exceeding the amount of Initial the Tranche B-2 Term Loan Commitment of such Lender. Subject to the terms and conditions of this Agreement, during such period the Borrowers may borrow the Tranche B-2 Term Loan Commitments by means of Base Rate Loans and Eurodollar Loans, and thereafter the Borrowers may Convert Tranche B-2 Term Loans deemed made of one Type into Tranche B-2 Term Loans of another Type (as provided in Section 2.09 hereof) or Continue Tranche B-2 Term Loans of one Type as Tranche B-2 Term Loans of the same Type (as provided in Section 2.09 hereof). Amounts prepaid or repaid in respect of Tranche B-2 Term Loans may not be reborrowed. Proceeds of Tranche B-2 Term Loans hereunder shall be available for any use permitted under the first sentence of Section 8.17(b) hereof. Anything herein to the contrary notwithstanding, except as provided in Section 2.01(g) hereof, the Tranche B-2 Term Loan Commitments will become available on the Closing Iowa Acquisition Consummation Date equal to 0.25% of but only so long as the aggregate principal amount of all Initial same shall occur on or before the date sixty days after the date hereof (it being understood that, as provided in Section 2.04(c) hereof, the Tranche B-2 Term Loans outstanding on the Closing Date (which payments Loan Commitments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05automatically terminated on said date if they are not fully drawn on or before said date), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Appropriate Lenders (A) (i) on the last Business Day of each March, June, September and December, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Initial B-3 Euro Term Loans outstanding on the Amendment No. 3 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.05(a)(vi)) and (y) shall not be made with respect to Initial B-3 Term Loans that were prepaid pursuant to Section 2.05(a)(vi)), (ii) on the last Business Day of each March, June, September and December, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Initial B-4 Dollar Term Loans outstanding on the Amendment No. 7 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.05(a)(vi)) and (y) shall not be made with respect to Initial B-4 Dollar Loans that were prepaid pursuant to Section 2.05(a)(vi)), (iii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Incremental B-4 Dollar Term Loan Amendment No. 7 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Incremental B-45 Dollar Term Loans outstanding on the Closing Incremental B-4 Dollar Term Loan Amendment No. 7 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.052.05 (excluding prepayments under Section 2.05(a)(vi)) and (y) shall not be made with respect to Incremental B-45 Dollar Term Loans that were prepaid pursuant to Section 2.05(a)(vi)), (iiiiiiv) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Amendment No. 1 6 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Incremental B-4 Euro Term Loans outstanding on the Amendment No. 1 6 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.052.05 (excluding prepayments under Section 2.05(a)(vi)) and (iiy) shall not be made with respect to Incremental B-4 Euro Term Loans that were prepaid pursuant to Section 2.05(a)(vi)), and (ivv) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Amendment No. 6 Effective Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Incremental B-5 Euro Term Loans outstanding on the Amendment No. 6 Effective Date (which payments shall (x) be reduced as a result of the application of prepayments made in accordance with the order of priority set forth in Section 2.05 (excluding prepayments under Section 2.05(a)(vi)) and (y) shall not be made with respect to Incremental B-5 Euro Term Loans that were prepaid pursuant to Section 2.05(a)(vi)), and (B) (i) on the Maturity Date for the Initial B-3 Euro Term Loans, the aggregate principal amount of all Initial B-3 Euro Term Loans outstanding on such date, (ii) on the Maturity Date for the Incremental B-4Initial B-4 Dollar Term Loans, the aggregate principal amount of all Initial B-4 Dollar Term Loans outstanding on such date, (iii) on the Maturity Date for the Incremental B-5 Dollar Term Loans, the aggregate principal amount of all Incremental B-45 Dollar Term Loans outstanding on such date, (iiiiv) on the Maturity Date for the Incremental B-4 Euro Term Loans, the aggregate principal amount of all Incremental B-4 Euro Term Loans outstanding on such date and (ivv) on the Maturity Date for the Incremental B-5 Euro Term Loans, the aggregate principal amount of all Incremental B-5 Euro Term Loans outstanding on such date. In the event that any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such other Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Sources: Credit Agreement (Avantor, Inc.)
Term Loans. The Each of the Borrower shall and the Subsidiary Borrowers shall, jointly and severally, repay to the Administrative Agent (with any such payments to be allocated among the Borrower and the Subsidiary Borrowers ratably in accordance with their then outstanding Designated Amounts except as specified by the Borrower in writing):
(i) for the ratable account of the Term Lenders (i) holding Term B-2 Loans, Term B-4 Loans and Term B-5 Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 2 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term B-2 Loans outstanding on the Closing Amendment No. 2 Effective Date (which including any Term B-2 Loans that were extended and converted into Term B-4 Loans on the Amendment No. 5 Effective Date and any Term B-2 Loans that were extended and converted into Term B-5 Loans on the Restatement Effective Date); provided, that (A) such payments shall be reduced (with such reduction applied ratably among Term B-2 Loans, Term B-4 Loans and Term B-5 Loans) as a result of the application of prepayments of Term Loans made after the Amendment No. 2 Effective Date and on or prior to the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05, and (B) such payments of any Class of Term Loans shall be further reduced as a result of the application of prepayments of such Class of Term Loans made after the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05), ;
(ii) for the ratable account of the Term B-6 Lenders, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending such date to occur after the First Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term B-6 Loans outstanding on the First Amendment No. 1 Effective Date (which Date; provided that such payments of Term B--6 Loans shall be reduced as a result of the application of prepayments of Term B--6 Loans made after the First Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(iii) for the ratable account of the Term B-7 Lenders, on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Third Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-7 Loans outstanding on the Third Amendment Effective Date (iiincluding any Term B-4 Loans and Term B-5 Loans that were converted into Term B-7 Loans on the Third Amendment Effective Date); provided that such payments of Term B-7 Loans shall be reduced as a result of the application of prepayments of Term B-7 Loans made after the Third Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05;
(iv) for the ratable account of the Term B-8 Lenders, on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Third Amendment Effective Date, an aggregate amount equal to 0.25% of the aggregate amount of all Term B-8 Loans outstanding on the Third Amendment Effective Date (including any Term B-4 Loans, Term B-5 Loans and Term B-6 Loans that were converted into Term B-8 Loans on the Third Amendment Effective Date); provided that such payments of Term B-8 Loans shall be reduced as a result of the application of prepayments of Term B-8 Loans made after the Third Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05; and
(v) (iii) for the ratable account of the applicable Class of Term Lenders, on the Maturity Date for the Initial any Class of Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term B-2 Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term B-4 Loans, Refinancing Term B-5 Loans, Term B-6 Loans, Term B-7 Loans or Extended and Term B-68 Loans, as applicable, shall be repaid by the Borrower in the amounts and outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 1 contract
Sources: Credit Agreement (West Corp)
Term Loans. The Borrower shall repay Each Tranche B-1 Term Loan Lender ---------------------- severally agrees, on the terms and conditions of this Agreement, to make term loans to the Administrative Agent for the ratable account of the Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through Borrowers in Dollars from and including the fiscal quarter ending December 31, 2019, Third Acquisition Consummation Date to and including the Term Credit Agreement ---------------- Loan Commitment Expiration Date in an aggregate principal amount up to but not exceeding the amount of Initial the Tranche B-1 Term Loan Commitment of such Lender. Subject to the terms and conditions of this Agreement, during such period the Borrowers may borrow the Tranche B-1 Term Loan Commitments by means of Base Rate Loans and Eurodollar Loans, and thereafter the Borrowers may Convert Tranche B-1 Term Loans deemed made of one Type into Tranche B-1 Term Loans of another Type (as provided in Section 2.09 hereof) or Continue Tranche B-1 Term Loans of one Type as Tranche B-1 Term Loans of the same Type (as provided in Section 2.09 hereof). Amounts prepaid or repaid in respect of Tranche B-1 Term Loans may not be reborrowed. Proceeds of Tranche B-1 Term Loans hereunder shall be available for any use permitted under the first sentence of Section 8.17(b) hereof. Anything herein to the contrary notwithstanding, except as provided in Section 2.01(g) hereof, the Tranche B-1 Term Loan Commitments will become available on the Closing Third Acquisition Consummation Date equal to 0.25% of but only so long as the aggregate principal amount of all Initial same shall occur on or before the date sixty days after the date hereof (it being understood that, as provided in Section 2.04(c) hereof, the Tranche B-1 Term Loans outstanding on the Closing Date (which payments Loan Commitments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05automatically terminated on said date if they are not fully drawn on or before said date), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Term Loans. The Borrower shall repay (a) Subject to the Administrative Agent for provisions of this Section 2.2 and Article III hereof and the ratable account of the Term Lenders other terms and conditions set forth in this Agreement
(i) Lender agrees to make Term Loans to Borrowers at Administrative Borrower’s request on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending any date occurring on or after the Closing Date through and including on or prior to June 25, 2018, in such amount as Borrower may request in accordance with Section 2.7 hereof;
(ii) The Term Loan Facility is not a revolving credit facility and any portion of a Term Loan that is repaid or prepaid may not be reborrowed;
(iii) On the fiscal quarter ending December 31date on which each Term Loan shall be made to Borrowers, 2019the Term Loan Commitment shall be automatically and permanently reduced on such date by an amount equal to the aggregate original principal amount of such Term Loan;
(iv) Any portion of the Term Loan Commitment that has not been funded by Lender to Borrowers shall expire and be terminated upon the earlier to occur of (i) 5:00 p.m. Pacific time on June 25, an 2018 and (ii) the Term Loan Maturity Date.
(b) The aggregate principal amount of Initial Term Loans deemed made on hereunder shall not exceed the Closing Date equal Maximum Term Amount.
(c) Subject to 0.25% of Section 2.2(b) hereof, each Borrowing under the aggregate Term Loan Facility shall be in a minimum principal amount of all Initial Term Loans outstanding on $500,000 and, thereafter, in integral multiples of $100,000, unless such Borrowing is being made to pay any interest, fees, or expenses then due hereunder, in which case such Borrowing may be in the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loanssuch interest, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loansfees, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofexpenses.
Appears in 1 contract
Sources: Credit Agreement (Silvercrest Asset Management Group Inc.)
Term Loans. The A. Contemporaneous with the execution hereof BACC shall lend to Borrower the principal sum of One Hundred Ninety Thousand Dollars no/100 ($190,000) which sum, together with interest at the rate set forth below shall repay to the Administrative Agent for the ratable account be paid in equal consecutive monthly installments of the Term Lenders principal of Three Thousand One Sixty Seven and 00/100 Dollars (i$3,167) each beginning on June 1, 2005 and continuing on the last Business Day same day of each Marchmonth thereafter until paid in full. Interest, June, September and December, commencing with at the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority rate set forth in Section 2.05)2.4 hereof, shall be paid on the first day of each month hereafter and on the maturity date of said term loan. Notwithstanding the foregoing, the entire unpaid principal balance of said term loan, and all accrued and unpaid interest thereon, shall be due and payable in full on the Termination Date. If Borrower prepays, in whole or in part, the term loan other than in connection with a termination subject to subject to Section 3.2 below, contemporaneous with such prepayment Borrower shall pay BACC a prepayment premium equal to five percentage points (5.0%) of the amount so prepaid.
B. Upon the request of Borrower, made at any time prior to March 31, 2006 and so long as (i) no Event of Default has occurred and is continuing, and (ii) provided that BACC has a first priority and only security interest in the Equipment to be financed under the Capital Expenditures Term Loan (as defined below), BACC may, in its sole and absolute discretion, make capital expenditure Advances in a total amount not to exceed the lesser of: (a) eighty-five percent (85%) of the cost of Equipment acquired by Borrower (after subtracting taxes, freight and installation charges) ("Equipment Advance"); and (b) One Hundred Fifty Thousand Dollars ($150,000) (the Capital Expenditures Term Loan); provided, however, each Equipment Advance shall be no less Ten Thousand Dollars ($10,000). The Capital Expenditures Term Loan shall be further evidenced by a Secured Term Promissory Note (Capital Expenditures). At the time of each new respective type of Advance hereunder (i.e. Equipment Advance), the aggregate of the then outstanding principal balance of the same type of Advances, if any, shall be added to the new Advance of the same type and the total aggregate balance of both shall be divided by the number of months remaining between the last day of the month in which such new Advance took place and the Applicable Maturity Date (as defined below) that applies to such type of Advances, and the resulting amount of said installments, rounded to the nearest One Hundred Dollars ($100), shall be payable in consecutive monthly payments (or earlier, as hereinafter referred to) on the last Business Day first day of each March, June, September month commencing on the first (1st) full calendar month following such new Advance hereunder and December, commencing with continuing on the last Business Day first day of each succeeding month until the Applicable Maturity Date. The entire remaining unpaid principal balance of the first fiscal quarter ending after Capital Expenditures Term Loan, plus any and all accrued and unpaid interest, shall be due and payable on the Amendment No. 1 Effective earlier of: (i) May 1, 2009 (unless an earlier Applicable Maturity Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal applies to 0.25% all or a portion of the aggregate principal amount of all Initial Capital Expenditures Term Loans outstanding on Loan), or (ii) the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments date this Agreement terminates by its terms or is terminated by either party in accordance with its terms. If Borrower prepays, in whole or in part, the order term loan other than in connection with a termination subject to Section 3.2 below, contemporaneous with such prepayment Borrower shall pay BACC a prepayment premium equal to five percent (5.0%) of priority the amount so prepaid. Interest, at the rate set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable2.4 hereof, shall be repaid by payable monthly, in addition to the Borrower in the amounts and principal payments provided above, commencing on the dates set forth due date of the first (1st) principal payments hereunder, and continuing on the first day of each succeeding month, with all accrued and unpaid interest due and payable in full on the Incremental AmendmentTermination Date. As used herein, Refinancing Amendment or Extension Amendment the "Applicable Maturity Date" means May 1, 2009 with respect thereto to Equipment Advances. As a condition to the Capital Expenditures Term Loan, Borrower agrees to pay a fee (the Equipment Fee), which fee shall be immediately due and payable on the applicable Maturity Date thereofday of the Equipment Advance, in an amount equal to one-twelfth of one percent (0.00834%) of the Equipment Advances for the number of months between the date of the Equipment Advance and the Termination Date.
Appears in 1 contract
Term Loans. The Borrower Borrowers shall repay to the Administrative Agent for (i) the ratable account of the Term Lenders holding each Class of Term B-3 Loans in Dollars (iA) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending second such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 2 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all the Term B-3 Loans funded or converted on the Amendment No. 2 Effective Date; provided, that, such amount shall be increased on the Incremental Amendment No. 1 Effective Date in the same proportion as (x) the aggregate principal amount of the Term B-3 Loans (including Initial Term B-3 Loans and Additional Term B-3 Loans) outstanding immediately following the funding of the Additional Incremental Term B-3 Loans on the Incremental Amendment No. 1 Effective Date bears to (y) the amount of the Term B-3 Loans outstanding immediately prior to the funding of the Additional Incremental Term B-3 Loans on the Incremental Amendment No. 1 Effective Date; provided, further that such amount shall be increased on the Incremental Amendment No. 2 Effective Date in the same proportion as (I) the aggregate principal amount of the Term B-3 Loans (including the Initial Term B-3 Loans, the Additional Term B-3 Loans, the Additional Incremental Term B-3 Loans and the Second Additional Term B -3 Loans) outstanding immediately following the funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date bears to (II) the amount of the Term B-3 Loans outstanding immediately prior to the funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date and (B) on the Maturity Date for the Term B-3 Loans, the aggregate principal amount of all Term B-3 Loans outstanding on such date and (ii) for the ratable account of the Term Lenders holding each class of Term A Loans in Dollars (i) on the last Business Date of each March, June, September and December, (A) commencing with the last Business Day of March 2020 until the third anniversary of the Incremental Amendment No. 4 Closing Date, an aggregate principal amount equal to 0.625% of the aggregate principal of Term A Loans funded on the Incremental Amendment No. 4 Closing Date and (which B) thereafter, an aggregate principal amount equal to 1.25% of the aggregate principal of Term A Loans funded on the Incremental Amendment No. 4 Closing Date and (ii) on the Maturity Date for the Term A Loans, the aggregate principal amount of all Term A Loans outstanding on such date; provided that payments required by Sections 2.07(a)(i)(A) and 2.07(a)(ii)(A) above shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower Borrowers in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment definitive documentation with respect thereto and on the applicable Maturity Date thereof.”
Appears in 1 contract
Sources: Credit Agreement (Restaurant Brands International Limited Partnership)
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders Lenders, (i) with respect to Series B-2 Term Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31June 30, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Series B-2 Term Loans outstanding on the Amendment No. 1 6 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and and, (ii) with respect to Series B-3 Term Loans, on the last Business Day of each March, June, September and December, commencing with March 31, 2024, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Series B-3 Term Loans outstanding on the Amendment No. 10 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, including, but not limited to, as a result of any prepayments of Term Loans (including Series B-2 Term Loans) prior to the Amendment No. 10 Effective Date), (iii) with respect to Series B-4 Term Loans, on the last Business Day of each March, June, September and December, commencing with March 31, 2024, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Series B-4 Term Loans (including, for the avoidance of doubt, all Incremental Series B-4 Term Loans) outstanding on the Amendment No. 10 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, including, but not limited to, as a result of any prepayments of Term Loans (including Series B-2 Term Loans) prior to the Amendment No. 10 Effective Date) and (iv) on the applicable Maturity Date for the Initial Series B-2 Term Loans, the Series B-3 Term Loans and the Series B-4 Term Loans, the aggregate principal amount of all Initial Series B-2 Term Loans, Series B-3 Term Loans and Series B-4 Term Loans, respectively, outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Term Loans. The Initial Borrower shall repay to the Administrative Agent (i) for the ratable account of the Initial Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding in equal quarterly payments equal to 0.25% of the original principal amount of the Term Loans funded on the Initial Closing Date (each such repayment amount, an “Initial Term Loan Repayment Amount”) which payments amount shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day March 31, June 30, September 30, and December 31 of each Marchfiscal year of Holdings (commencing on December 31, June2018); provided, September and Decemberthat if such date is not a Business Day, commencing with then such payment shall be made on the last immediately preceding Business Day Day; provided, however, that the final principal repayment installment of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made shall be paid on the Amendment No. 1 Effective Maturity Date for the Initial Term Facility and in any event shall be in an amount equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on such date and (ii) to the Amendment No. 1 Effective extent applicable, for the ratable account of the Delayed Term Lenders the aggregate principal amount of all Delayed Draw Term Loans outstanding in equal quarterly payments equal to 0.25% of the original principal amount of the Delayed Draw Term Loans funded on the Delayed Draw Closing Date (each such repayment amount, a “Delayed Draw Term Loan Repayment Amount”) which payments amount shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) on March 31, June 30, September 30, and December 31 of each fiscal year of Holdings (ii) commencing on December 31, 2018); provided, that if such date is not a Business Day, then such payment shall be made on the immediately preceding Business Day; provided, however, that the final principal repayment installment of the Delayed Term Loans shall be paid on the Maturity Date for the Initial Delayed Draw Term Loans, Loan Facility and in any event shall be in an amount equal to the aggregate principal amount of all Initial Delayed Draw Term Loans outstanding on such date. In For the event avoidance of doubt, and solely to the extent applicable, any Incremental Term Loans, Refinancing reduction in amortization payments as a result of the application of any prepayments in accordance with Section 2.05 shall be applied on a pro rata basis as between the Term Loans or Extended funded on the Initial Closing Date and the Delayed Draw Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and funded on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofDelayed Draw Closing Date.
Appears in 1 contract
Sources: Senior Secured First Lien Credit Agreement (Project Angel Parent, LLC)
Term Loans. (i) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-1 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019March 2022, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount Dollar Amount of all Initial Term B-1 Loans outstanding on the Closing Amendment No. 1 Effective Date (which payments as such repayment amount shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-1 Loans, the scheduled amortization with respect to the Term B-1 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-1 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-1 Loans) and (ii) on the Maturity Date for the Term B-1 Loans, the aggregate principal amount of all Term B-1 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-1 Loans.
(ii) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective DateJune 2024, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal $2,392,264 (as such repayment amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-2 Loans, the scheduled amortization with respect to the Term B-2 Loans set forth in Section 2.05above shall be reduced ratably to reflect the percentage of Term B-2 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-2 Loans) and (ii) on the Maturity Date for the Initial Term B-2 Loans, the aggregate principal amount of all Initial Term B-2 Loans outstanding on such date. In ; provided that the event repayments under this clause may be adjusted to account for the addition of any Incremental Term Loans, Refinancing New Term Loans or Extended that are Term B-2 Loans.
(iii) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-3 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of September 2023, an aggregate amount equal to 0.25% of the aggregate principal Dollar Amount of all Term B-3 Loans are made, outstanding on the Term B-3 Incremental Amendment Effective Date (as such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, repayment amount shall be repaid by reduced as a result of the Borrower application of prepayments in accordance with the amounts and on order of priority determined under Section 2.05); provided that at the dates set forth in the Incremental Amendment, Refinancing Amendment or time of any effectiveness of any Extension Amendment with respect thereto to the Term B-3 Loans, the scheduled amortization with respect to the Term B-3 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-3 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-3 Loans) and (ii) on the applicable Maturity Date thereoffor the Term B-3 Loans, the aggregate principal amount of all Term B-3 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-3 Loans.
(iv) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-4 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of March 2025, an aggregate amount equal to 0.25% of the aggregate principal Dollar Amount of all Term B-4 Loans outstanding on the Amendment No. 5 Effective Date (as such repayment amount shall be reduced as a result of the application of prepayments in accordance with the order of priority determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-4 Loans, the scheduled amortization with respect to the Term B-4 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-4 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-4 Loans) and (ii) on the Maturity Date for the Term B-4 Loans, the aggregate principal amount of all Term B-4 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-4 Loans.
Appears in 1 contract
Term Loans. (i) The Borrower shall repay Borrowers agree to pay to the Administrative Agent Agent, for the ratable account benefit of the Lenders of the Initial Term Lenders Loans, on each date set forth below (i) on the last Business Day of each Marcheach, June, September an “Initial Term Loan Repayment Date” and December, commencing together with the last Business Day 2020 Incremental Term Loan Repayment Date (as defined below), each, an “Term Loan Repayment Date”), the principal of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount of Initial Term Loans deemed made on in the Closing amounts set forth below opposite such Term Loan Repayment Date equal to 0.25% of the aggregate principal amount of all (each, an “Initial Term Loans outstanding on Loan Repayment Amount” and together with the Closing Date 2020 Incremental Term Loan Repayment Amount (as defined below), each, a “Term Loan Repayment Amount”) (which payments Term Loan Repayment Amount shall be reduced as a result of of, and after giving effect to, the application of prepayments in accordance with the order of priority set forth in Section 2.055.01 and Section 5.02(a)(viii), ): and (ii) on the last Business Day of each MarchBorrowers agree to pay to the Administrative Agent, June, September and December, commencing with for the last Business Day benefit of the first fiscal quarter ending after Lenders of the Amendment No. 1 Effective 2020 Incremental Term Loans, on each date set forth below (each, a “2020 Incremental Term Loan Repayment Date”), an aggregate the principal amount of Initial the 2020 Incremental Term Loans deemed made on in the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial amounts set forth below opposite such 2020 Incremental Term Loans outstanding on the Amendment No. 1 Effective Loan Repayment Date (each, a “2020 Incremental Term Loan Repayment Amount”) (which payments 2020 Incremental Term Loan Repayment Amount shall be reduced as a result of of, and after giving effect to, the application of prepayments in accordance with the order of priority set forth in Section 2.05) 5.01 and (ii) Section 5.02(a)(viii)): For the avoidance of doubt, the Borrowers agree to pay to the Administrative Agent, for the benefit of the applicable Lenders, on the Term Loan Maturity Date for the Initial Date, all then outstanding Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.”
Appears in 1 contract
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders Lenders, (i) with respect to Series B-1 Term Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial InitialSeries B-1 Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), and (ii) on the it being understood that as of the Amendment No.1 Effective Date, as a result of the application of prepayments prior to such date, the amount of repayments required by this clause (i) shall be zero), (ii) with respect to Series B-2 Term Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective DateSeptember 30, 2016, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Series B-2 Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (iiiii) on the applicable Maturity Date for the Initial InitialSeries B-1 Term Loans and the Series B-2 Term Loans, the aggregate principal amount of all Initial InitialSeries B-1 Term Loans and Series B-2 Term Loans, respectively, outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders Lenders, (i) with respect to Series B-1 Term Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Series B-1 Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, and it being understood that as of the Amendment No.1 Effective Date, as a result of the application of prepayments prior to such date, the amount of repayments required by this clause (i) shall be zero), (ii) with respect to Series B-2 Term Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective DateSeptemberJune 30, 20162017, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Series B-2 Term Loans outstanding on the Amendment No. 1 13 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (iiiiiii) on the applicable Maturity Date for the Initial Series B-1 Term Loans and the Series B-2 Term Loans, the aggregate principal amount of all Initial Series B-1 Term Loans and Series B-2 Term Loans, respectively, outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Term Loans. (i) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-1 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019March 2022, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount Dollar Amount of all Initial Term B-1 Loans outstanding on the Closing Amendment No. 1 Effective Date (which payments as such repayment amount shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-1 Loans, the scheduled amortization with respect to the Term B-1 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-1 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-1 Loans) and (ii) on the Maturity Date for the Term B-1 Loans, the aggregate principal amount of all Term B-1 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-1 Loans.
(ii) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-2 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective DateJune 2024, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal $2,392,264 (as such repayment amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-2 Loans, the scheduled amortization with respect to the Term B-2 Loans set forth in Section 2.05above shall be reduced ratably to reflect the percentage of Term B-2 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-2 Loans) and (ii) on the Maturity Date for the Initial Term B-2 Loans, the aggregate principal amount of all Initial Term B-2 Loans outstanding on such date. In ; provided that the event repayments under this clause may be adjusted to account for the addition of any Incremental Term Loans, Refinancing New Term Loans or Extended that are Term B-2 Loans.
(iii) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-3 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of September 2023, an aggregate amount equal to 0.25% of the aggregate principal Dollar Amount of all Term B-3 Loans are made, outstanding on the Term B-3 Incremental Amendment Effective Date (as such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, repayment amount shall be repaid by reduced as a result of the Borrower application of prepayments in accordance with the amounts and on order of priority determined under Section 2.05); provided that at the dates set forth in the Incremental Amendment, Refinancing Amendment or time of any effectiveness of any Extension Amendment with respect thereto to the Term B-3 Loans, the scheduled amortization with respect to the Term B-3 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-3 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-3 Loans) and (ii) on the applicable Maturity Date thereoffor the Term B-3 Loans, the aggregate principal amount of all Term B-3 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-3 Loans.
(iv) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-4 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of March 2025, an aggregate amount equal to 0.25% of the aggregate principal Dollar Amount of all Term B-4 Loans outstanding on the Amendment No. 5 Effective Date (as such repayment amount shall be reduced as a result of the application of prepayments in accordance with the order of priority determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-4 Loans, the scheduled amortization with respect to the Term B-4 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-4 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-4 Loans) and (ii) on the Maturity Date for the Term B-4 Loans, the aggregate principal amount of all Term B-4 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-4 Loans.
(v) The Borrower shall repay to the Administrative Agent for the ratable account of the Term B-5 Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of December 2025, an aggregate amount equal to 0.25% of the aggregate principal Dollar Amount of all Term B-5 Loans outstanding on the Amendment No. 6 Effective Date (as such repayment amount shall be reduced as a result of the application of prepayments in accordance with the order of priority determined under Section 2.05); provided that at the time of any effectiveness of any Extension Amendment with respect to the Term B-5 Loans, the scheduled amortization with respect to the Term B-5 Loans set forth above shall be reduced ratably to reflect the percentage of Term B-5 Loans converted to Extended Term Loans pursuant to such Extension Amendment (but will not affect the amount of amortization received by a given Lender with outstanding Term B-5 Loans) and (ii) on the Maturity Date for the Term B-5 Loans, the aggregate principal amount of all Term B-5 Loans outstanding on such date; provided that the repayments under this clause may be adjusted to account for the addition of any New Term Loans that are Term B-5 Loans.
Appears in 1 contract
Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders Lenders, (i) with respect to Series B-2 Term Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31June 30, 2019, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Series B-2 Term Loans outstanding on the Closing Amendment No. 6 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) with respect to Series B-3 Term Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective DateMarch 31, 2024, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Series B-3 Term Loans outstanding on the Amendment No. 1 10 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, including, but not limited to, as a result of any prepayments of Term Loans (including Series B-2 Term Loans) prior to the Amendment No. 10 Effective Date), (iii) with respect to Series B-4 Term Loans, on the last Business Day of each March, June, September and December, commencing with March 31June 30, 2024, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Series B-4 Term Loans (including, for the avoidance of doubt, all Incremental Series B-4 Term Loans and the Incremental Amended Series B-4 Term Loans) outstanding on the Amendment No. 1011 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05, including, but not limited to, as a result of any prepayments of Term Loans (including Series B-2 Term Loans and Series B-3 Term Loans) prior to the Amendment No. 1011 Effective Date) and (iiiv) on the applicable Maturity Date for the Initial Series B-2 Term Loans, the Series B-3 Term Loans and the Series B-4 Term Loans, the aggregate principal amount of all Initial Series B-2 Term Loans, Series B-3 Term Loans and Series B-4 Term Loans, respectively, outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Term Loans. (i) The Term Borrower shall repay to the Administrative Agent for the ratable account of the Tranche B-1 Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Tranche B-1 Term Loans outstanding on the Closing Date (which payments amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), Section 7.05) and (ii) on the applicable Maturity Date for the Initial Tranche B-1 Term Loans, the aggregate principal amount of all Initial Tranche B-1 Term Loans outstanding on such date, in each case, unless accelerated sooner pursuant to Section Section 13.02.
(ii) The Term Borrower shall repay to the Tranche B-2 Term Lenders (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal full quarter ending after the Amendment No. 1 Effective Closing Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Tranche B-2 Term Loans outstanding on the Amendment No. 1 Effective Closing Date (which payments amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05Section 7.05) and (ii) on the applicable Maturity Date for the Initial Tranche B-2 Term Loans, the aggregate principal amount of all Initial Tranche B-2 Term Loans outstanding on such date. , in each case, unless accelerated sooner pursuant to Section Section 13.02.
(iii) In the event that any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, Loans shall be repaid by the Term Borrower in the amounts and on in the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.
(iv) If any principal repayment installment to be made by the Term Borrower (other than principal repayment installments on Eurocurrency Rate Loans) shall come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be and if any principal repayment installment to be made by the Term Borrower on a Eurocurrency Rate Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such principal repayment installment into another calendar month, in which event such principal repayment installment shall be due on the immediately preceding Business Day.
Appears in 1 contract
Term Loans. The Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Bank with a Revolving Credit Commitment severally agrees that the Borrower shall have the right to borrow, repay and reborrow term loans in an aggregate amount not to exceed ONE HUNDRED TWENTY FIVE MILLION AND NO/100 DOLLARS (each a "Term Loan" and collectively, the "Term Loans"), provided however, that the sum of (i) the outstanding principal balance of Revolving Credit Loans, the Swing Loans, the Supplemental Swing Loans, the Stated Amount of issued Letters of Credit, the unreimbursed draws of any Letter of Credit and the Term Loans shall at not at any time exceed the Revolving Credit Commitments as the same may be reduced from time to time. Notwithstanding anything contained in the Agreement or any of the other Loan Documents to the Administrative Agent contrary, the Term Loan facility is a sub-facility of the Revolving Credit Commitments, and as such shall mature, expire, be proportionally reduced or terminate upon the occurrence of a like event affecting the Revolving Credit Commitments.
(i) The request by the Borrower for the ratable account advance with respect to the Term Loans under this Section 2.4 shall be made by 1:00 P.M. (Pittsburgh, Pennsylvania time) to the Agent in writing, by an Authorized Officer, (A) in the case of Base Rate Loans, at least one (1) Business Day prior to the proposed advance of the Term Lenders Loans and (iB) in the case of Eurodollar Rate Loans, at least three (3) Business Days prior to the proposed advance of the Term Loans, in each case specifying the date on which such advance of the Term Loans is to be made, selecting the interest rate therefor pursuant to Subsection 2.5(b) hereof and, if appropriate, selecting the Interest Period therefor. The Borrower's written request for the advance of the Term Loans shall be a request for the advance of the entire amount of the Term Loans and shall be evidenced by a Request for Term Loans substantially in the form of Exhibit "C" hereto (a "Term Loan Request"), duly executed by an Authorized Officer of the Borrower. Promptly upon receipt of such notice, the Agent shall notify each Bank of the Borrower's request, and each such Bank shall make its pro rata share of such advance under the Term Loans available at the Agent's principal office in immediately available funds no later than 4:00 P.M. (Pittsburgh, Pennsylvania time) on the last Business Day of each March, June, September and December, commencing with the last Business Day date of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an aggregate principal amount requested advance of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), Loans.
(ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof[Intentionally omitted.]
Appears in 1 contract
Sources: Credit Agreement (Education Management Corporation)
Term Loans. The Each of the Borrower shall and the Subsidiary Borrowers shall, jointly and severally, repay to the Administrative Agent (with any such payments to be allocated among the Borrower and the Subsidiary Borrowers ratably in accordance with their then outstanding Designated Amounts except as specified by the Borrower in writing):
(i) for the ratable account of the Term Lenders (i) holding Term B-2 Loans, Term B-4 Loans and Term B-5 Loans, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 2 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term B-2 Loans outstanding on the Closing Amendment No. 2 Effective Date (which including any Term B-2 Loans that were extended and converted into Term B-4 Loans on the Amendment No. 5 Effective Date and any Term B-2 Loans that were extended and converted into Term B-5 Loans on the Restatement Effective Date); provided, that (A) such payments shall be reduced (with such reduction applied ratably among Term B-2 Loans, Term B-4 Loans and Term B-5 Loans) as a result of the application of prepayments of Term Loans made after the Amendment No. 2 Effective Date and on or prior to the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05, and (B) such payments of any Class of Term Loans shall be further reduced as a result of the application of prepayments of such Class of Term Loans made after the Restatement Date in accordance with the applicable order of priority set forth in Section 2.05), ;
(ii) for the ratable account of the Term B-6 Lenders, on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending such date to occur after the First Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term B-6 Loans outstanding on the First Amendment No. 1 Effective Date (which Date; provided that such payments of Term B-6 Loans shall be reduced as a result of the application of prepayments of Term B-6 Loans made after the First Amendment Effective Date in accordance with the applicable order of priority set forth in Section 2.05; and
(iii) and (ii) for the ratable account of the applicable Class of Term Lenders, on the Maturity Date for the Initial any Class of Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term B-2 Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term B-4 Loans, Refinancing Term B-5 Loans or Extended and Term B-56 Loans, as applicable, shall be repaid by the Borrower in the amounts and outstanding on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofsuch date.
Appears in 1 contract
Sources: Credit Agreement (West Corp)
Term Loans. The Borrower Borrowers shall repay to the Administrative Agent for the ratable account of the Term Lenders holding each Class of Term B-3 Loans in Dollars (i) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending second such date to occur after the Closing Date through and including the fiscal quarter ending December 31, 2019Amendment No. 2 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Closing Date equal to 0.25% of the aggregate principal amount of all the Term B-3 Loans funded or converted on the Amendment No. 2 Effective Date; provided, that, such amount shall be increased on the Incremental Amendment No. 1 Effective Date in the same proportion as (x) the aggregate principal amount of the Term B-3 Loans (including Initial Term B-3 Loans and Additional Term B-3 Loans) outstanding immediately following the funding of the Additional Incremental Term B-3 Loans on the Incremental Amendment No. 1 Effective Date bears to (ii) the amount of the Term B-3 Loans outstanding immediately prior to the funding of the Additional Incremental Term B-3 Loans on the Incremental Amendment No. 1 Effective Date; provided, further that such amount shall be increased on the Incremental Amendment No. 2 Effective Date in the same proportion as (i) the aggregate principal amount of the Term B-3 Loans (including the Initial Term B-3 Loans, the Additional Term B-3 Loans, the Additional Incremental Term B-3 Loans and the Second Additional Term B -3 Loans) outstanding immediately following the funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date bears to (ii) the amount of the Term B-3 Loans outstanding immediately prior to the funding of the Second Additional Term B-3 Loans on the Incremental Amendment No. 2 Effective Date and (ii) on the Maturity Date for the Term B-3 Loans, the aggregate principal amount of all Term B-3 Loans outstanding on the Closing Date (which such date; provided that payments required by Section 2.07(a)(i) above shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower Borrowers in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment definitive documentation with respect thereto and on the applicable Maturity Date thereof.
Appears in 1 contract
Sources: Credit Agreement (Restaurant Brands International Inc.)
Term Loans. The Borrower shall repay (a) Subject to the provisions of this Section 2.2 and Article III hereof and the other terms and conditions set forth in this Agreement;
(i) ▇▇▇▇▇▇ agrees to make Term Loans to Borrowers at Administrative Agent for Borrower’s request on any date occurring on or after the ratable account Restatement Effective Date and on or prior to June 18, 2025, in such amount as Borrowers may request in accordance with Section 2.7 hereof;
(ii) The Term Loan Facility is not a revolving credit facility and any portion of a Term Loan that is repaid or prepaid may not be reborrowed;
(iii) On the date on which each Term Loan shall be made to Borrowers, the Term Loan Commitment shall be automatically and permanently reduced on such date by an amount equal to the aggregate original principal amount of such Term Loan;
(iv) Any portion of the Term Lenders Loan Commitment that has not been funded by Lender to Borrowers shall expire and be terminated upon the earlier to occur of (i) 5:00 p.m. Pacific time on June 18, 2025 and (ii) the last Business Day of each March, June, September and December, commencing with the last Business Day of the first full fiscal quarter ending after the Closing Date through and including the fiscal quarter ending December 31, 2019, an Term Loan Maturity Date.
(b) The aggregate principal amount of Initial Term Loans deemed made on hereunder shall not exceed the Closing Date equal Maximum Term Amount.
(c) Subject to 0.25% of Section 2.2(b) hereof, each Borrowing under the aggregate Term Loan Facility shall be in a minimum principal amount of all Initial Term Loans outstanding on $500,000 and, thereafter, in integral multiples of $100,000, unless such Borrowing is being made to pay any interest, fees, or expenses then due hereunder, in which case such Borrowing may be in the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), (ii) on the last Business Day of each March, June, September and December, commencing with the last Business Day of the first fiscal quarter ending after the Amendment No. 1 Effective Date, an aggregate principal amount of Initial Term Loans deemed made on the Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (ii) on the Maturity Date for the Initial Term Loanssuch interest, the aggregate principal amount of all Initial Term Loans outstanding on such date. In the event any Incremental Term Loansfees, Refinancing Term Loans or Extended Term Loans are made, such Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereofexpenses.
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Sources: Amendment and Restatement Agreement (Silvercrest Asset Management Group Inc.)