Examples of Third Term Loan in a sentence
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Guarantors ratify and confirm the Guaranties, acknowledge that the Guaranties are valid, subsisting, and binding upon Guarantors, and agree that the Guaranties guarantee payment of the Notes (including the Term Note, the Revolving Note, the Second Term Note, and the Third Term Note), the Loans (including the Term Loan, the Revolving Loan, the Second Term Loan, and the Third Term Loan), and all other Secured Obligations.
The Term Principal Debt under, and as defined in, the Restated Credit Agreement, other than as to the Third Term Loan thereunder, shall be repaid in full on the Closing Date with a Revolving Loan hereunder, and all of the other existing Indebtedness for borrowed money of the Borrower and its Subsidiaries (other than Indebtedness permitted to exist pursuant to Section 7.02) shall be repaid in full and all security interests related thereto shall be terminated on or prior to the Closing Date.
Any survey required by the Administrative Agent shows any matter not existing as of the date of the survey delivered on or prior to the initial Term Loan made under the Third Term Loan (as defined in the Restated Credit Agreement) which is unsatisfactory to the Administrative Agent in its reasonable credit judgment, and such matter is not removed within a period of thirty (30) days after notice thereof by the Administrative Agent to the Borrower.
In the event the Third Term Loan is not funded on or before May 23, 2012, the Lenders’ commitment to make the Third Term Loan shall be terminated and the total commitment shall be further reduced by $12,500,000.
Borrower has agreed to pay the principal amount of the Third Term Loan in sixty consecutive monthly installments each in the amount of $25,000, commencing December 1, 2003, and the entire unpaid principal amount of the Third Term Loan shall be due and payable on November 1, 2008.
After maturity of the Third Term Loan (whether by lapse of time, acceleration, or otherwise) accrued interest shall be due and payable upon demand.
A final payment of all Commitment Fees then payable shall also be due and payable on (i) the Revolving Loan Maturity Date in the case of the Revolving Commitment Fees or (ii) the earlier of (x) the Third Term Loan B Draw Funding Date or (y) May 31, 2007 in the case of the Term Loan Commitment Fees.
The Third Term Loan shall be advanced on January 6, 2006 and shall be payable in full together with all accrued and unpaid interest thereon and all other amounts due and owing with respect thereto, subject to acceleration upon the occurrence of an Event of Default or termination of this Agreement, upon the earlier of (A) July 6, 2006 and (B) the consummation of any offering of Xxxxxx Equipment’s Common Stock to a Person other than Laurus (the “Third Term Loan Maturity Date”).
The outstanding principal balance under the Third Term Loan shall bear interest at a rate eight and five one-hundredths percent (8.05%) per annum (except that interest shall accrue at the Default Rate, so long as an Event of Default shall have occurred and be continuing uncured).