Term Advance B means the principal amount of the borrowing of a portion of the Total Term Loan Commitments to be made available to the Borrower to refinance the Existing Indebtedness relating to the Advance B Ships pursuant to Existing Facility Agreement B and for general corporate purposes.
Subject to the terms and conditions of this Agreement, during the Term Advance B Draw Period, upon Borrowers request, Bank shall make one (1) term loan advance (the Term Loan B Advance) available to Borrower in an original principal amount of Two Million Dollars ($2,000,000.00).
Any reborrowing of the Revolving Credit Facility shall be available for general corporate purposes only;(c)an Incremental Credit Facility in up to four Advances in an aggregate amount of up to $72,000,000;(d)the amount of Term Advance A shall not exceed the lower of (i) $200,000,000 less, if Term Advance B has been drawn prior to or will be drawn simultaneously with Term Advance A, Term Advance B; and (ii) 40 per cent.
Borrowers may prepay the Term Advance B at any time, in whole or in part, without penalty or premium, except as otherwise provided in Section 2.2(a).
Borrowers agree to pay to Lender the outstanding principal amount of Term Advance B on June 30, 2016 (the "Paydown Date").
Section 1.15 of the Agreement is hereby amended in its entirety as follows: 1.15Mandatory Paydown of Term Advance B.