Examples of Prior Term Loans 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.
In 2017, the duration of the Prior Term Loans was extended to July 25, 2024.
The Continuing Term Lenders and the Administrative Agent waive the requirement for delivery of a prepayment notice in respect of the prepayment of Prior Term Loans on the Second Amendment Effective Date pursuant to Section 2.03 of the Credit Agreement and the Amended Credit Agreement.
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Immediately before giving effect to the Seventh Amendment to this Agreement, the aggregate outstanding principal balance of the Prior Term Loans was $1,750,000 and the Borrowers’ obligation to pay the Prior Term Loans was evidenced by the Promissory Note of the Borrowers payable to the order of the Bank in the original principal amount of $4,000,000 (the “Prior Term Note”).
Immediately before giving effect to the Eighth Amendment to this Agreement, the aggregate outstanding principal balance of the Prior Term Loans was $4,000,000 and the Borrowers’ obligation to pay the Prior Term Loans was evidenced by the Second Amended and Restated Term Note of the Borrowers dated March 31, 2015 and payable to the order of the Bank in the original principal amount of $5,000,000 (the “Prior Term Note”).
The Prior Term Loans shall be paid in full ---------------- simultaneously with the closing hereunder.
Special Provisions Relating to Refinancing and Conversion of Prior Term Loans by, into or with Initial Loans.
Immediately before giving effect to the Eleventh Amendment to this Agreement, the aggregate outstanding principal balance of the Prior Term Loans was $4,500,000 and the Borrowers’ obligation to pay the Prior Term Loans was evidenced by the Third Amended and Restated Term Note of the Borrowers dated April 15, 2016 and payable to the order of the Bank in the original principal amount of $6,000,000 (the “Prior Term Note”).
On the Closing Date, each of the initial Lenders made Prior Term Loans subject to the terms and conditions set forth in the Agreement as in effect on such date.