Initial Term Loan Amount definition

Initial Term Loan Amount has the meaning given that term in Section 2.2.(a).

Initial Term Loan Amount means, with respect to the Term Loan, the initial amount loaned to Company under the Term Loan, which such amount shall be the lesser of (a) the Commitment in effect on the date prior to the Conversion Date or (b) such amount outstanding under the Revolving Loan on the Conversion Date.

Initial Term Loan Amount means forty million Dollars ($40,000,000) less the Original Issue Discount. “Insolvency Proceeding” means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or under any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other similar relief. “Intellectual Property” has the meaning specified therefor in the Amended and Restated Guaranty and Security Agreement. “Intellectual Property Security Agreement” means any security agreement executed and delivered to Agent by a Loan Party as may be required pursuant to the relevant Guaranty and Security Agreement with respect to any Intellectual Property of such Loan Party, for the benefit of the Lender Group, which shall be in form and substance satisfactory to Agent. “Intercreditor Agreement” means that certain Subordination and Intercreditor Agreement dated as of December 7, 2022 by and among the Agent, the Subordinated Notes Trustee, Acquiom Agency Services, LLC, and the Loan Parties. “Interest Expense” means, for any period, the aggregate of the interest expense of the Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with Applicable Accounting Standards. “Interest Rate” has the meaning set forth in Section 2.5(a). “Inventory” means inventory (as that term is defined in the Code). “Investment” means, with respect to any Person, any investment by such Person in any other Person (including Affiliates) in the form of loans, guarantees, advances, or capital contributions (excluding (a) commission, travel, and similar advances to officers and employees of such Person made in the ordinary course of business and consistent with past practice, and (b) bona fide accounts arising in the ordinary course of business consistent with past practice), purchase, or acquisitions of Indebtedness, Stock, or all or substantially all of the assets of such other Person (or of any division or business line of such other Person), and any other items that are or would be classified as investments on a balance sheet prepared in accordance with Applicable Accounting Standards. The amount of any Investment shall be the original cost of such Investment plus the cost of all additions thereto, without any adjustment for increases or decreases in value, or write-ups, write-downs, o...

Examples of Initial Term Loan Amount in a sentence

• If the Company does not borrow the full Initial Term Loan Amount in a single borrowing as contemplated by this Agreement, the Term Loan Commitments shall be reduced to zero immediately following such borrowing.

• The Company shall deliver to the Administrative Agent a Notice of Borrowing with respect to the Initial Term Loan Amount.

• Subject to the terms and conditions of this Agreement, including the satisfaction (or waiver) of all conditions precedent specified in Section 3.1, and in reliance upon the representations and warranties of the Loan Parties contained herein, on the Closing Date, each Lender agrees (severally, not jointly or jointly and severally) to make a single term loan advance in an amount equal to such Lender’s Pro Rata Share of the Initial Term Loan Amount (the “Initial Term Loan”).

• Upon satisfaction of the conditions set forth in Section 3.1 hereof on the Closing Date, Agent shall remit the Initial Term Loan Amount immediately by wire transfer of such funds in accordance with the Escrow Agreement.

• With respect to the Initial Advance only, Bank shall have Acceptable Appraisals on the Initial Collateral Properties reflecting an aggregate Appraised Value of not less than twice the Initial Term Loan Amount and an aggregate Appraised NOI in an amount that is not less than the Initial Term Loan Amount divided by 6.40.

More Definitions of Initial Term Loan Amount

Initial Term Loan Amount means, as of the Agreement Date, $25,000,000.

Initial Term Loan Amount means $27,426,622.65.

Initial Term Loan Amount means $29,200,320.68.

Initial Term Loan Amount means $75,000,000.00.

Initial Term Loan Amount are deleted from Section 1.1 of the Credit Agreement in their entirety.

Initial Term Loan Amount means the initial principal amount of Term Loans incurred pursuant to Section 1.01(b).

Initial Term Loan Amount has the meaning set forth in the Loan and Security Agreement.