Additional Portion definition
Examples of Additional Portion in a sentence
Any Increase Joinder may, with the consent of Agent, Borrower and the Lenders or prospective lenders agreeing to the proposed Increase, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate to effectuate the provisions of this Section 2.14 (including any amendment necessary to effectuate the interest margins, closing fees, and amortization payment schedule for the Additional Portion of the Term Loan).
Any Additional Portion of the Term Loan shall be in an amount of at least $30,000,000 and integral multiples of $1,000,000 in excess thereof and shall not be made on more than five (5) occasions during the term of this Agreement.
If any Remaining Shareholder fails to exercise his or her right to purchase its Pro Rata Portion of the Offered Interest (the “Remaining Portion”), then the Remaining Shareholders that have indicated in their Exercise Notice a desire to purchase an Additional Portion in accordance with their relative ownership interest of the Shares to the extent of the Additional Portion indicated in their Exercise Notice.
Any Increase Joinder may, with the consent of Agent, Borrower and the Lenders or prospective lenders agreeing to the proposed Increase, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate to effectuate the provisions of this Section 2.14 (including any amendment necessary to effectuate the interest margins for the Revolving Loans to be made pursuant to the increased Revolver Commitments or the Additional Portion of the Term Loan).
The outstanding unpaid principal balance and all accrued and unpaid interest on such Additional Portion of the Term Loan shall be due and payable on the earlier of (x) the Maturity Date, and (y) the date of the acceleration of the Term Loan in accordance with the terms hereof.
No closing of the purchase of any Additional Portion shall take effect nor shall the Purchaser be able to purchase any Additional Portion to the extent that after giving effect to such issuance after closing as set forth on the applicable Additional Closing Notice, the Purchaser (together with the Purchaser’s Affiliates, and any other Persons acting as a group together with the Purchaser or any of the Purchaser’s Affiliates), would beneficially own in excess of the Beneficial Ownership Limitation.
No more than two (2) Additional Portion Advances shall be made in any month.
With respect to a SAFE Debt Portion Advance, Agent shall have received (i) a pay-off letter from SAFE in form and substance satisfactory to Agent setting forth a pay-off amount of the SAFE Debt as of the proposed Funding Date with respect to such Additional Portion Advance, (ii) such UCC-3 termination statements and other Lien releases as Agent may require, and (iii) evidence that the SAFE Debt shall be paid in full concurrently with the disbursement of the SAFE Debt Portion.
At the closing of each Additional Portion the parties shall make the same deliveries as set forth in Section 1.2 (b) and 1.2(c).
All representations of each party set forth in Article II shall apply and be true as of the date of the Closing and the closing of the purchase of each Additional Portion.