Term A Loan means an advance made by any Term A Lender under the Term A Facility.
Examples of Term A Loan in a sentence
As between the Term A Loan and the Term B Loan, the Term A Loan will have similar priority.
As of the effective date hereunder, the principal amount of the Term A Loan shall be $10,184,134.66 (the "Term A Loan Amount") and shall be subject to the terms and conditions set forth herein and on the face of the notes attached as Exhibit A hereto.
Absent the occurrence of any Event of Default, the unpaid principal amount of the Term A Loan shall bear interest at the rate of nine percent (9%) per annum from and after the Closing Date, but such interest shall merely accrue and not be payable until the first anniversary of the Closing Day, at which point, such interest shall be due and owing and immediately payable in cash in full.
All other terms and conditions found in the Term A Notes shall apply to the Term A Loan.
On such date and thereafter, and absent the occurrence of any such prior acceleration, the unpaid principal balance of the Term A Loan shall be payable in equal consecutive quarterly principal installments of not less than $222,500, which shall be due and payable on the last Business Day of each March, June, September and December.