Examples of Term Loan Final Payment in a sentence
Agent shall provide Borrower written notice of deductions made from the Designated Deposit Account pursuant to the terms of the clauses of this Section 2.4. The Term Loan Final Payment, the Term Loan Prepayment Premium, the Unused Revolving Line Fee and the Collateral Monitoring Fee are hereinafter collectively referred to as the “Loan Fees”.
On the final Growth Capital Term Loan Scheduled Payment Date, Borrower shall pay, in addition to the outstanding principal, accrued and unpaid interest, and all other amounts due on such date with respect to the Growth Capital Term Loan, an amount equal to the Growth Capital Term Loan Final Payment.
In the event that Borrower fails to comply with the Milestone and Partnership Covenant, Bank shall apply the funds in the Pledged Account to the outstanding principal balance of the Tranche Two Term Loan Advance plus all accrued and unpaid interest thereon and the Term Loan Final Payment (the “Mandatory Tranche Two Prepayment”).
If the Growth Capital Term Loan is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of: (i) all outstanding principal plus accrued interest, (ii) the Growth Capital Term Loan Final Payment, plus (iii) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.
All Tranche 1 Commitments shall automatically terminate on the Tranche 1 Incremental Term Loan Final Payment Date.
If the Term Loans are accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Lenders an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest on the Term Loans, (ii) the Term Loan Prepayment Fee, (iii) the Term Loan Final Payment plus (iv) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.
In addition to the payment of the Term Loan Final Payment Fee, Borrower shall reimburse the Lenders for all legal fees and expenses reasonably incurred in connection with the Existing Loan Documents and this Loan Modification Agreement.
For the sake of clarity, the Term Loan Prepayment Fee and the Term Loan Final Payment shall not apply to a prepayment with respect to the Term Loan Advances made solely under this Section 2.3(f).
Agent and the Lenders hereby waive the portion of the Term Loan Final Payment exceeding the Accrued Term Loan Final Payment (as defined below), but only for the foregoing specific payment.
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