Term Loan Balance definition
Examples of Term Loan Balance in a sentence
The Term Loan Balance shall bear interest at the Term Loan Applicable Rate which shall be the rate per annum which is equal to the aggregate of (a) LIBOR for the applicable Interest Period (determined in accordance with Section 6.5) plus (b) the then prevailing Margin.
In any such case, appropriate adjustment will be made in the application of the provisions of this paragraph with respect to the rights of the Lender after the Capital Reorganization to the end that the provisions of this paragraph (including adjustment of the Conversion Price then in effect and the number of shares issuable upon conversion of the Term Loan Balance) will be applicable after that event and be as nearly equivalent as practicable.
On the date hereof, immediately prior to giving effect to this Agreement, the outstanding principal balance of the Original Term Loan is Twenty Million Dollars ($20,000,000) (the "Outstanding Original Term Loan Balance").
To exercise such option, the Servicer shall deposit in the Collection Account an amount equal to: (x) the aggregate Purchase Amount for the Loans, plus (y) the fair market value of any other Collateral, plus (z) sufficient funds to pay interest on the Aggregate Term Loan Balance through the date of redemption after giving effect to the application of Available Funds on such date.
On the Closing Date, the Outstanding Original Term Loan Balance shall be continued hereunder for all purposes of this Agreement as a term loan made by Bank pursuant to this Agreement.
On the Closing Date and upon effectiveness of this Agreement, the Outstanding Term Loan Balance shall be continued and shall convert automatically, for all purposes of this Agreement, to a portion of the Term Loan hereunder owing to the Lenders as if such portion of the Term Loan had been made by the Lenders to the Borrowers hereunder on the Closing Date ratably in accordance with their respective Pro Rata Term Loan Share.
The aggregate amount of such additional Borrowing on the Closing Date plus the Outstanding Original Term Loan Balance is referred to herein as the “Closing Date Borrowing Amount”.
The sum of the Fourth Amendment Term Loan Amount plus the Fourth Amendment Term Loan Balance shall be collectively referred to as the “Term Loan”.
The sum of the Second Amendment Re-Load Amount plus the Second Amendment Term Loan Balance shall be collectively referred to as the “Term Loan”.
Promptly following (and in any event within five (5) Business Days after) receipt by any Loan Party of any Net Collateral Sale Proceeds in respect of any Collateral Sale, the Borrowers shall prepay the Loans in an aggregate amount equal to the greater of (i) such Net Collateral Sale Proceeds or (ii) the Unamortized Term Loan Balance associated with the Collateral disposed of in such Collateral Sale.