Prior Term definition

Prior Term. Prior Term shall mean the period of time beginning on the Strategic Alliance Effective Date and ending on the Effective Date.
View Source
Prior Term means the term which commenced on May 1, 1987 and terminated on the day prior to the date hereof pursuant to which Tenant occupied all or a portion of the Premises pursuant to lease dated November 28, 1986, as amended ("Prior Lease").
View Source

Examples of Prior Term in a sentence

  • Subject to the terms and conditions set forth herein, each Lender severally agrees to make (or convert from Prior Term Loans, in the case of the Continuing Lenders) to the Borrower a single loan denominated in Dollars equal to such Lender’s Commitment on the Closing Date.

  • No amount repaid or prepaid on any Prior Term Loan may be borrowed again.

  • It is acknowledged that, pursuant to the Prior Term Sheet (as defined below), you were eligible for a $450,000 sign-on bonus in connection with the commencement of your employment with the Company, $225,000 of which has already been paid.

  • In order to exercise the Option Term, the Establishing JBE must send Notice to Contractor at least thirty (30) days prior to the end of the Prior Term.

  • The Company acknowledges and agrees that the outstanding amount on the Prior Term Note is owing to the Lender without defense, offset or counterclaim.

  • The Term Note is being issued in substitution and replacement for, and shall evidence the indebtedness heretofore evidenced by, the Prior Term Note, as well as the Additional Term Loan made hereunder.

  • Subject to Section 2.3(b), the principal amount outstanding under the Prior Term Loan shall accrue interest at a floating per annum rate equal to the greater of (i) one percentage point (1.0%) above the SVB Prime Rate, or (ii) eight and three-quarters of one percent (8.75%), which interest shall be payable monthly.

  • The outstanding principal balance of the Term Loan 2011 plus the outstanding principal balance of the Prior Term Loan plus the outstanding principal balance of all PFG Subordinated Debt plus any other balance sheet term debt of Borrower, shall not exceed Two Million Four Hundred Thousand Dollars ($2,400,000) at any time.

  • The Borrowers shall use the proceeds of the Revolving Credit Loans as provided in Section 2.5 hereof, and the Company shall use the proceeds of the Term Loan and the Octagon Interim Term Loan solely for purposes of repaying Revolving Credit Loans and/or the Prior Term Loan and/or paying the Octagon Purchase Price in accordance with the terms of the Octagon Stock Purchase Agreement.

  • Borrower acknowledges that, as of the Effective Date, the outstanding principal amount of the Prior Term Loan is $303,987.16.

Related to Prior Term

  • Initial Term has the meaning set forth in Section 7.1.

  • Order Term means the period of time starting on the Services Start Date for the Services and continuing for the period indicated on the Order Form unless terminated in accordance with the Agreement.

  • Initial Termination Date has the meaning set forth in Section 9.1(b)(i).

  • Contract Term means period of performance set forth in the paragraph entitled “Term” contained in Exhibit E.

  • First Extension Period means the period of one (1) Contract Year commencing immediately after the conclusion of the Initial Exploration Period.