Term Loan Installment Date definition
Examples of Term Loan Installment Date in a sentence
The outstanding principal amount of this Term Loan Note shall be paid in installments on each Term Loan Installment Date and in the manner specified in the Credit Agreement referred to below.
Subject to Section 2.08(d), all prepayments of the Term Loans shall be applied as follows: first, to reduce the principal amount payable by the Borrowers on the most remote scheduled Term Loan Installment Date and all accrued but unpaid interest thereon until such scheduled payment (and unpaid interest) is reduced to zero and second, to reduce the aggregate principal amount payable by the Borrowers on the then remaining Term Loan Installment Dates in the inverse order of their due dates.
The Borrowers shall repay the aggregate principal amount of the Term Loans on each Term Loan Installment Date in an amount equal to (x) the percentage set forth opposite the applicable year during which such Term Loan Installment Date occurs multiplied by (y) the Conversion Amount: provided that the Borrowers shall pay all outstanding principal on the Term Loans, together with all accrued and unpaid interest thereon on the Maturity Date.
The Borrower shall repay the aggregate outstanding principal amount of the Initial Term Loan in consecutive quarterly installments on each Term Loan Installment Date as set forth below, except as the amounts of individual installments may be adjusted pursuant to Section 4.4 hereof: Term Loan Installment Dates 1-4 $ 468,750 Term Loan Installment Dates 5-8 $ 937,500 Term Loan Installment Dates 9-12 $ 1,406,250 Each Term Loan Installment Date thereafter until the Term Loan Maturity Date.
In the event that on any date after the Closing Date B Term Loans are incurred pursuant to the provisions of Section 2.23, an amount equal to the aggregate principal amount of the B Term Loans so incurred on such date pursuant to Section 2.23 shall be applied to increase the amounts due on each then remaining B Term Loan Installment Date on a pro rata basis (based upon the then remaining principal amounts due on each B Term Loan Installment Date after giving effect to all prior reductions thereto).