Examples of Term Loan Advance in a sentence
Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of each Term Loan Advance at the rate set forth in Section 2.4(b).
Notwithstanding any terms in this Agreement to the contrary, if at any time the interest rate applicable to any Term Loan Advance is less than zero percent (0.0%), such interest rate shall be deemed to be zero percent (0.0%) for all purposes of this Agreement.
Subject to the terms and conditions of this Agreement, Lender will make and Borrowers agree to draw, a Term Loan Advance of $6,000,000 on the Closing Date.
Borrower will pay interest on each Term Loan Advance on the first day of each month, beginning the month after the Advance Date.
After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed.