Definition of Term C Loan


Term C Loan means each Term Loan outstanding immediately prior to the effectiveness of Amendment No. 3 that is not converted to a Term C-2 Loan pursuant to Section 2.01(a) on the Amendment No. 3 Effective Date.
Sample 1 Sample 2 Sample 3

Examples of Term C Loan in a sentence

In the case of any Event of Default hereunder, interest shall accrue on the unpaid principal amount of the Term C Loan at the rate of 14% per annum (the "Term C Loan Default Rate") and shall be payable in cash immediately.
Absent the occurrence of any Event of Default, one half of the interest accruing at this rate shall accrue, but not be payable, until maturity of the Term C Loan and Term C Note (whether pursuant to acceleration or otherwise) and the other half shall be due and payable in cash on a quarterly basis on the last Business Day of each March, June, September and December.
The Borrowers shall not use any proceeds of the Term C Loan in any manner that is inconsistent with the Borrowing Request and Use of Funds Certificate tendered to Tennessee Farmers in order to obtain the release of such proceeds.
Appendix A - 3 "Default Rate Interest" means interest owing under the A and Term B Loan Default Rate or the Term C Loan Default Rate.
SECTION 4 REPRESENTATIONS AND WARRANTIES To induce the Lender to enter into this Agreement (including to make the Term C Loan and to restructure the First Farmers Note as provided herein), the Borrowers represent and warrant unto the Lender that: SECTION 4.1 ORGANIZATION.