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.
If Lenders agree to provide such Incremental Term Loans as Term A Loans but in an aggregate amount less than the Potential Incremental Term A Loan Amount, then such Loans may be provided as Term B Loans, as such Lenders and the Administrative Borrower may agree.
The aggregate principal amount of any proposed Incremental Term Loans that may constitute Term A Loans shall not exceed an amount equal to (a) the then existing Incremental Term A Loan EBITDA Amount, minus (b) the aggregate principal amount of all Term A Loans then outstanding (the "Potential Incremental Term A Loan Amount").
Subject to the terms and conditions set forth herein, each Term A Lender severally agrees to fund the portion of the Term A Loan Amount represented by its Term A Loan Commitment to the Borrowers on the Closing Date in an aggregate amount not to exceed such Term A Lender's Term A Loan Commitment or the Term A Loan Amount.
A portion of the Term A Loan Amount shall be used to repay Borrowers existing Indebtedness to Bank.