Tranche B Note Clause Samples

Tranche B Note. The Tranche B Loans made by each Lender to or for the benefit of any Tranche B Borrower shall, in addition to this Agreement, also be evidenced by a promissory note executed by the Tranche B Borrowers substantially in the form of Exhibit G, payable to the order of such Lender in a principal amount equal to the amount of such Lender’s Tranche B Commitment as in effect on the Fifth Amendment Effective Date (or the date such Lender receives an assignment of such Commitment) and otherwise duly completed. Each promissory note described in this subsection is referred to as a “Tranche B Note.”

Tranche B Note. The Tranche B Note in the form attached hereto as Exhibit A-1, properly executed on behalf of the Company.

Tranche B Note. For avoidance of doubt, (i) neither the execution, delivery and effectiveness of this Agreement nor the consummation of any of the transactions contemplated hereunder constitutes or operates as a waiver of any of the Holder’s rights or remedies under the Tranche B Note or any of the other Transaction Documents (as defined in the October 2024 Securities Purchase Agreement), nor constitutes a waiver of any provision of the Transaction Documents and (ii) neither the Collateral Agent or the Holder has waived, is by this Agreement waiving or has any intention of waiving any Event of Default (as defined in the Tranche B Note) which may be continuing on the date hereof or any Events of Default which may occur after the date hereof (whether the same or similar to any existing Events of Default or otherwise), and neither the Collateral Agent nor the Holder has agreed to forbear with respect to any of their rights or remedies concerning any Event of Default occurring at any time.

Tranche B Note. (a) Subject to the terms and conditions hereinafter set forth, the Organization promises to pay to the Lender or its assigns on the Final Payment Date, to the extent not forgiven as hereinafter provided, all principal amounts owing in respect of the Tranche B Loan. On each Annual Forgiveness Date, to the extent not forgiven as hereinafter provided, interest shall be paid on all outstanding principal amounts of the Tranche B Loan for the period from the Effective Date, or the preceding Annual Forgiveness Date for which interest was paid with respect to such Tranche B Loan, as the case may be, at a rate equal to the Average Annual U.S. Prime Rate plus two percent (2%) per annum (with interest for any period that is less than twelve full months being computed on the actual number of days elapsed in a year of 360 days). Such payments of principal and interest shall be made by the Organization to the Lender no later than 5:00 p.m. (or other local time at the place of payment), Boston, Massachusetts time, on the applicable Annual Forgiveness Date, in arrears, by wire transfer of immediately available funds to the account of the Lender specified in Section 17 or to such other account as to which the Lender shall give notice to the Organization from time to time. Should any amount due hereunder become due on a day other than a Business Day, payment thereof shall be extended to the next succeeding Business Day and interest shall be payable thereon at a rate as stated above. Notwithstanding anything to the contrary contained herein, to the extent any Mandatory Payment Date occurs, but subject to the last sentence of this Section 2(iii)(a) below, the Organization shall make mandatory prepayments of the Tranche B Loan over the seven-month period immediately following the Mandatory Payment Date as follows: Payment Period: Payable on: Amount: Month 1 immediately following the Mandatory Prepayment Date (or, if any such last day is not a Business Day, on the next succeeding Business Day) 25% of the outstanding principal balances of Tranche B Loan plus all accrued and unpaid interest thereon Months 2-7 on the last day of each thirty-day period for this 6-month period (or, if any such thirty-day period that does not end on a Business Day, on the next succeeding Business Day) the remaining principal balance of the Tranche B Loan, plus all accrued interest thereon, in equal (as to principal) consecutive monthly installments, together with accrued interest owing through each p...

Tranche B Note. The Tranche B Loan shall be evidenced by the Tranche B Note.

Tranche B Note. Tranche B Loans made by each Lender shall be evidenced by the Tranche B Note payable to the order of such Lender in the respective amount of its Applicable Commitment Percentage of the Total Tranche B Commitment, which Tranche B Note shall be dated the Closing Date or a later date pursuant to an Assignment and Acceptance and shall be duly completed, executed and delivered by the Borrower.