GCTL definition
Examples of GCTL in a sentence
As of the Effective Date, the aggregate principal amount outstanding under the GCTL is Two Hundred Twenty Two Thousand Two Hundred Twenty Two and 16/100 Dollars ($222,222.16).
However lab results were all below detect levels andlor applicable GCTL.
If the GCTL is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal and accrued but unpaid interest, plus (ii) the GCTL Final Payment, plus (iii) all other sums, including Bank Expenses, if any, that shall have become due and payable with respect to the GCTL.
Borrower shall have the option to prepay the GCTL in full, provided Borrower (i) shall provide written notice to Bank of its election to prepay the Growth Capital Advances at least ten (10) days prior to such prepayment and (ii) pays, on the date of such prepayment, (A) all outstanding principal and accrued but unpaid interest with respect to the GCTL, (B) the GCTL Final Payment, and (C) all other sums, including Bank Expenses, if any, that shall have become due and payable with respect to the GCTL.
Borrower fails to (a) make any payment of principal or interest on any Credit Extension when due, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day cure period shall not apply to payments due on the Revolving Line Maturity Date, the Term Loan Maturity Date or the GCTL Maturity Date).
Commencing on the first Payment Date following the Effective Date, and continuing on each Payment Date thereafter, Borrower shall repay the GCTL in (i) eight (8) consecutive equal monthly payments of principal, plus (ii) monthly payments of accrued but unpaid interest at the rate set forth in Section 2.6(a)(iii).
All outstanding principal and accrued and unpaid interest under the GCTL, and all other outstanding Obligations with respect to the GCTL (including the GCTL Final Payment), are due and payable in full on the GCTL Maturity Date.
Each Grantor hereby represents and warrants to Agent and the Lenders, with respect to such Grantor’s Accounts, that each existing Account represents, and each future Account will represent, a bona fide obligation of the account debtor with respect thereto and is and will be for a liquidated amount payable by the account debtor thereon.