SAC Loan definition
Examples of SAC Loan in a sentence
Except for the amendments and modifications permitted in accordance with the terms of the Intercreditor Agreement, the Borrowers shall not hereafter effect or permit any amendments or modifications to any SAC Loan Documents without the prior written consent of the Administrative Agent and the Term Lender.
Upon satisfaction of the requirements of Section 5.16, the Borrowers shall be permitted to apply a portion of the proceeds of the Convertible Notes in an amount not to exceed $10,000,000, plus capitalized interest thereon, to repay the SAC Loan, whether by the payment of cash or netting the amount payable against proceeds otherwise to be advanced under the Convertible Notes.
The definition of each of Intercreditor Agreement, SAC Credit Agreement, SAC Loan Documents, Securities Purchase Agreement, Securities Purchase Documents, and Subordination Agreement is hereby revised to mean and refer to each of such documents, as amended, restated or otherwise modified and in effect from time to time.
On or before April 29, 2005 all proceeds of Convertible Notes in an amount not less than $40,000,000 (less any amounts applied in payment of the SAC Loan, as described in Section 6.01(i)), shall have been received by the Lead Borrower.
On or before April 29, 2005 all proceeds of Convertible Notes in the amount of $56,000,000 (less any amounts applied in payment of the SAC Loan, as described in Section 6.01(i)), shall have been received by the Lead Borrower.
Notwithstanding anything to the contrary contained in the Credit Agreement, or in Paragraph 3.2 of the Intercreditor Agreement, as of the effective date of this Second Amendment, the Agent, for and on behalf of the Lenders, hereby consents to the amendment of the SAC Loan Documents as of the date of this Second Amendment.
All net proceeds of the SAC Loan shall have been disbursed into the Lead Borrower’s Account No. 9392854427 (or are subject to escrow arrangements reasonably satisfactory to the Administrative Agent, which require only the effectiveness of this First Amendment as a condition for release of such net proceeds to such account), for application to the principal balance of the Revolving Credit Loans or, if no Revolving Credit Loans are outstanding, for deposit in the Cash Collateral Account.
The Borrowers shall have delivered certified copies of all of the SAC Loan Documents, the Convertible Notes and the Securities Purchase Agreement to the Administrative Agent and the Term Lender.