Definition of Term Loan 1


Term Loan 1 means an advance made by any Lender under the Term 1 Facility.
Sample 1 Sample 2

Examples of Term Loan 1 in a sentence

Borrower shall pay interest on the principal amount of the Term Loan 2 Note at either the Revolving Loan Interest Rate or the Term Loan 1 Interest Rate.
On the Closing Date, the Term Loan 1 shall be equal to $19,165,000 and the Term Loan 2 shall be equal to $110,091,500.
If Borrower repays the Revolving Loan, Term Loan 1 or Term Loan 2 in full prior to three (3) months before the applicable maturity date and requests a release of all, or substantially all, of the Collateral (as herein defined) given to secure such Loans, Borrower shall pay to Bank a prepayment fee of $50,000 for each such Loan that is prepaid (the "Prepayment Fee"), which will be added to the then unpaid principal balance of the applicable Loan as of the payoff date.
If the Modified Term Loan 1 Interest Rate is implemented, such Modified Term Loan 1 Interest Rate will be considered the Term Loan 1 Interest Rate for purposes of this Agreement upon implementation.
Principal and interest on Term Loan 1 shall be repaid in accordance with the provisions of Term Note 1.