Common use of Initial Term Loans Clause in Contracts

Initial Term Loans. The Borrowers shall repay to the Administrative Agent for the ratable account of the applicable Term Lenders the aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): Date Amount The last Business Day of each fiscal quarter ending prior to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31, 2021 0.25% of the aggregate principal amount of the aggregate initial principal amount of the Initial Term Loans on the Closing Date Maturity Date for the Initial Term Loans All unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 2 contracts

Samples: Credit Agreement (Maravai Lifesciences Holdings, Inc.), Credit Agreement (Maravai Lifesciences Holdings, Inc.)

AutoNDA by SimpleDocs

Initial Term Loans. The Borrowers shall repay to the Administrative Agent for the ratable account of the applicable Term Lenders the aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Second Amendment Effective Date)): Date Amount The last Business Day of each fiscal quarter ending prior to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31or about September 30, 2021 0.252018 1.000% of the aggregate principal amount of the aggregate initial principal amount of the Initial Term Loans on the Closing Second Amendment Effective Date The last Business Day of each fiscal quarter ending on or about December 31, 2018 through the fiscal quarter ending on or about December 31, 2019 0.500% of the aggregate initial principal amount of the Initial Term Loans on the Second Amendment Effective Date The last Business Day of each fiscal quarter ending on or about March 31, 2020 through the Maturity Date 0.625% of the aggregate initial principal amount of the Initial Term Loans on the Second Amendment Effective Date Maturity Date for the Initial Term Loans All all unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 1 contract

Samples: Fourth Amendment (Ortho Clinical Diagnostics Holdings PLC)

Initial Term Loans. The Borrowers Parent Borrower shall repay give the Administrative Agent an irrevocable Borrowing Request requesting that the applicable Term Lenders make the initial Term Loans on the Effective Date prior to 11:00 a.m. (i) in the case of a Base Rate Loan, on the Effective Date and (ii)(A) in the case of a Daily Simple RFR Loan denominated in Dollars, at least five (5) RFR Business Days prior to the Effective Date, (B) in the case of a Term RFR Loan denominated in Dollars, at least three (3) RFR Business Days prior to the Effective Date, (C) in the case of a Eurocurrency Rate Loan denominated in Dollars, at least three (3) Eurocurrency Banking Days prior to the Effective Date, (D) in the case of an RFR Loan denominated in any Foreign Currency, at least five (5) RFR Business Days prior to the Effective Date, and (E) in the case of a Eurocurrency Rate Loan denominated in any Foreign Currency, at least four (4) Eurocurrency Banking Days prior to the Effective Date; provided, that the Parent Borrower may only request a Eurocurrency Rate Loan or an RFR Loan if the Parent Borrower has delivered to the Administrative Agent for the ratable account of the applicable Term Lenders the aggregate principal amount of all Initial Term Loans outstanding a letter in consecutive quarterly installments as follows (which installments shall, form and substance reasonably satisfactory to the extent applicable, be reduced as a result of Administrative Agent indemnifying the application of prepayments Lenders in accordance with the order of priority manner set forth in Sections 2.05 and 2.06, or be increased as a result Section 2.15 of any increase in the amount of Initial Term Loans pursuant to Section 2.14 this Agreement. Any Borrowing Request shall specify (such increased amortization payments to be calculated in the same manner (and on the same basisA) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): Date Amount The last Business Day of each fiscal quarter ending prior to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31, 2021 0.25% of the aggregate principal amount of the aggregate initial principal amount of the Initial Term Loans on the Closing Date Maturity Date for the Initial Term Loans All unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not of such borrowing, which shall be a Business Day, a RFR Business Day or an Eurocurrency Banking Day, as applicable, (B) the Currency of such principal repayment installment shall borrowing, (C) the amount of such borrowing, (D) whether such Term Loan is to be repaid on the next preceding Business Daya Eurocurrency Rate Loan, a Daily Simple RFR Loan, a Term RFR Loan or a Base Rate Loan, and (iiE) in the final principal repayment installment case of a Eurocurrency Rate Loan or a Term RFR Loan, the duration of the Initial Interest Period applicable thereto. If the Parent Borrower fails to specify the Currency of a Term Loans Loan in a Borrowing Request, then the Term Loan shall be repaid on made in Dollars. If the Maturity Date for Parent Borrower fails to specify a type of Term Loan in Dollars in a Borrowing Request, then the Initial applicable Term Loan shall be made as a Base Rate Loan. If the Parent Borrower requests a borrowing of Eurocurrency Rate Loans and or Term RFR Loans in any event shall such Borrowing Request, but fails to specify an Interest Period, it will be in deemed to have specified an amount equal to the aggregate principal amount Interest Period of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.one month. Not later than 1:00

Appears in 1 contract

Samples: Credit Agreement Credit Agreement (Tupperware Brands Corp)

Initial Term Loans. The Borrowers shall repay Each Lender severally agrees to lend to Company on the Administrative Agent Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Initial Term Loan Commitments to be used for the ratable account purposes identified in Section 2.5A. The original amount of each Lender’s Initial Term Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the applicable Initial Term Lenders Loan Commitments is $460,000,000; provided that each Initial Term Loan made by a Lender hereunder shall be subject to an original issue discount such that such Initial Term Loan will result in aggregate proceeds to Company in an amount equal to 98.0% of such Lender’s Initial Term Loan Commitment, which amount shall represent the aggregate principal amount of all such Initial Term Loans outstanding to be made available by such Lender pursuant to Section 2.1C. Except as specified in consecutive quarterly installments as follows (which installments shallthe proviso to the immediately preceding sentence, all references herein to an “Initial Term Loan” or “Initial Term Loans”, to “principal”, the extent applicable, be reduced as a result “principal amount” or the “outstanding principal amount” of any Initial Term Loan or Initial Term Loans and other terms of like import shall mean 100% of the application of prepayments in accordance with Initial Term Loan Commitments (immediately prior to the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount incurrence of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): . Company may make only a single drawing on the Closing Date Amount The last Business Day under the Initial Term Loan Commitments and the Initial Term Loan Commitments (and the Initial Term Loan Commitment of each fiscal quarter ending prior Lender) shall terminate in its entirety on the Closing Date (after giving effect to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31, 2021 0.25% of the aggregate principal amount of the aggregate initial principal amount making of the Initial Term Loans on the Closing Date Maturity Date for the Initial Term Loans All unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that ). Amounts borrowed under this Section 2.07(a2.1A(i) and subsequently repaid or prepaid may not be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior theretoreborrowed.

Appears in 1 contract

Samples: Credit Agreement (Alliance HealthCare Services, Inc)

Initial Term Loans. The Borrowers Borrower shall repay to the Administrative Agent for the ratable account of the applicable Initial Term Lenders Lenders: (A) on or prior to the last day of each March, June, September and December that occurs prior to the Amendment No. 1 Effective Date, an aggregate amount equal to 0.25% of the initial aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and made on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): Date Amount The , with the first such payment to be made on the last Business Day day of each the fifth full fiscal quarter ending after the Closing Date, (B) on or prior to the Maturity Date for last day of each March, June, September and December that occurs prior to the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31Amendment No. 4 Effective Date, 2021 an aggregate amount equal to 0.25% of the initial aggregate principal amount of the aggregate initial principal amount of the all Initial Term Loans on the Closing Amendment No. 1 Effective Date, with the first such payment to be made on the last day of the first full fiscal quarter ending after the Amendment No. 1 Effective Date; provided that if the Amendment No. 3 Funding Date Maturity Date occurs, after the funding of the 2020 Incremental Term Loans, the Administrative Agent shall be authorized to increase the total amount of amortization to account for the inclusion of the 2020 Incremental Term Loans in the Initial Term Loans All unpaid such that the 2020 Incremental Term Loans will be fungible with the then-existing Initial Term Loans, (C) on or prior to the last day of each March, June, September and December that occurs prior to the Initial Term Loan Maturity Date, an aggregate amount equal to 0.25% of the initial aggregate principal amounts amount of any outstanding all Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business DayAmendment No. 4 Effective Date, with the first such payment to be made on the last day of the first full fiscal quarter ending after the Amendment No. 4 Effective Date and (iiD) the final principal repayment installment of on the Initial Term Loans shall be repaid on the Loan Maturity Date for the Initial Term Loans and in any event shall be in Date, an aggregate amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended . (at the option of the Parent Borrowerc), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 1 contract

Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.)

Initial Term Loans. The Borrowers shall repay Each Lender with an Initial Term Loan Commitment severally agrees to lend to Company on the Administrative Agent Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Initial Term Loan Commitments to be used for the ratable account purposes identified in Section 2.5A. The original amount of each Lender’s Initial Term Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the applicable Initial Term Lenders Loan Commitments is $340,000,000; provided that each Initial Term Loan made by a Lender hereunder shall be subject to an original issue discount such that such Initial Term Loan will result in aggregate proceeds to Company in an amount equal to 99.5% of such Lender’s Initial Term Loan Commitment, which amount shall represent the aggregate principal amount of all such Initial Term Loans outstanding to be made available by such Lender pursuant to Section 2.1C. Except as specified in consecutive quarterly installments as follows (which installments shallthe proviso to the immediately preceding sentence, all references herein to an “Initial Term Loan” or “Initial Term Loans”, to “principal”, the extent applicable, be reduced as a result “principal amount” or the “outstanding principal amount” of any Initial Term Loan or Initial Term Loans and other terms of like import shall mean 100% of the application of prepayments in accordance with Initial Term Loan Commitments (immediately prior to the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount incurrence of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): . Company may make only a single drawing on the Closing Date Amount The last Business Day under the Initial Term Loan Commitments and the Initial Term Loan Commitments (and the Initial Term Loan Commitment of each fiscal quarter ending prior Lender) shall terminate in its entirety on the Closing Date (after giving effect to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31, 2021 0.25% of the aggregate principal amount of the aggregate initial principal amount making of the Initial Term Loans on the Closing Date Maturity Date for the Initial Term Loans All unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that ). Amounts borrowed under this Section 2.07(a2.1A(i) and subsequently repaid or prepaid may not be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior theretoreborrowed.

Appears in 1 contract

Samples: Credit Agreement (Alliance HealthCare Services, Inc)

Initial Term Loans. The Borrowers Borrower shall repay to the Administrative Agent for the ratable account of the applicable Initial Term Lenders the aggregate principal amount of all the Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be (x) reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.062.06 or other adjustment pursuant to Section 10.07(j), or be (y) increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): Date Amount The last Business Day of each fiscal quarter ending prior to the Maturity Date for the Initial Term Facilities starting Loans commencing with the last Business Day in the fiscal quarter ending on March 31June 30, 2021 2022 0.25% of the aggregate principal amount of the aggregate initial original principal amount of the Initial Term Loans on the Closing Date 139 140 Maturity Date for the Initial Term Loans All unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 1 contract

Samples: Credit Agreement (Instructure Holdings, Inc.)

Initial Term Loans. The Borrowers Borrower shall repay to the Administrative Agent for the ratable account of the applicable Initial Term Lenders Lenders: (A) on or prior to the last day of each March, June, September and December that occurs prior to the Amendment No. 1 Effective Date, an aggregate amount equal to 0.25% of the initial aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows made on the Closing Date, with the first such payment to be made on the last day of the fifth full fiscal quarter ending after the Closing Date, (which installments shall, B) on or prior to the extent applicablelast day of each March, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 June, September and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant December that occurs prior to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Loan MaturityAmendment No. 4 Effective Date)): Date Amount The last Business Day of each fiscal quarter ending prior , an aggregate amount equal to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31, 2021 0.25% of the initial aggregate principal amount of the aggregate initial principal amount of the all Initial Term Loans on the Closing Amendment No. 1 Effective Date, with the first such payment to be made on the last day of the first full fiscal quarter ending after the Amendment No. 1 Effective Date; provided that if the Amendment No. 3 Funding Date Maturity Date occurs, after the funding of the 2020 Incremental Term Loans, the Administrative Agent shall be authorized to increase the total amount of amortization to account for the inclusion of the 2020 Incremental Term Loans in the Initial Term Loans All unpaid aggregate principal amounts of any outstanding such that the 2020 Incremental Term Loans will be fungible with the then-existing Initial Term Loans providedand, however(C) on or prior to the last day of each March, June, September and December that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of occurs prior to the Initial Term Loan Maturity Date, an aggregate amount equal to 0.25% of the initial aggregate principal amount of all Initial Term Loans shall be repaid on the Maturity Amendment No. 4 Effective Date, with the first such payment to be made on the last day of the first full fiscal quarter ending after the Amendment No. 4 Effective Date for and (D) on the Initial Term Loans and in any event shall be in Loan Maturity Date, an aggregate amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 1 contract

Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.)

AutoNDA by SimpleDocs

Initial Term Loans. The Borrowers Borrower shall repay to the Administrative Agent for the ratable account of the applicable Term Lenders the aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 and/or the Borrowing of any Delayed Draw Term Loans (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): ), including any increases as a result of making subsequent term loans made pursuant to Section 2.01(a) or 2.14, as applicable, “fungible” with the Initial Term Loans: Date Amount The last Business Day of each fiscal quarter ending prior to the Maturity Date for the Term Facilities starting with the last Business Day in the first full fiscal quarter ending on March 31, 2021 after the Closing Date 0.25% of the aggregate principal amount of the aggregate initial principal amount of the Initial Term Loans on the Closing Date Maturity Date for the Initial Term Loans Facility All unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 1 contract

Samples: Credit Agreement (PurposeBuilt Brands, Inc.)

Initial Term Loans. The Borrowers shall repay Subject to the Administrative Agent for the ratable account of the applicable Term Lenders the aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced adjustment as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result Section 2.05(a) solely to the extent of any increase in such amounts applied to the amount prepayment of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for Loans, the Initial Term Loans made as of shall be due and payable, and the Closing Date)): Date Amount The Borrower shall repay to the Initial Term Lenders quarterly on the last Business Day of each fiscal quarter ending prior to month of February, May, August and November occurring until the Maturity Date for with respect to the Initial Term Facilities starting Facility, commencing with the last Business Day in the fiscal quarter ending first such payment date on March 31May 30, 2021 0.25% of the 2024 (each such date, an “Initial Term Loan Repayment Date”), an aggregate principal amount equal to the Applicable Amortization Percentage of the aggregate initial original principal amount of all Initial Term Loans made by all Initial Term Lenders under Section 2.01(a)(i) (which payments shall be reduced as a result of the application of prepayments made in accordance with Section 2.05) or, if less, the entire principal of the Initial Term Loans on the Closing Date Maturity Date for the Initial Term Loans All unpaid aggregate principal amounts of any outstanding Initial Term Loans then outstanding, unless accelerated sooner pursuant to Section 8.02; provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans Facility and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further(ii) if any principal repayment installment to be made by the Borrower (other than principal repayment installments on Term SOFR Loans) shall come due on a day other than a Business Day, that this Section 2.07(a) such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be amended and (at iii) if any principal repayment installment to be made by the option Borrower on a Term SOFR Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the result of the Parent Borrower), as it relates such extension would be to any then-existing tranche of Term Loans to increase the amortization with respect theretoextend such principal repayment installment into another calendar month, in connection with which event such principal repayment installment shall be due on the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and immediately preceding Business Day. (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.ii)

Appears in 1 contract

Samples: Credit Agreement (Helen of Troy LTD)

Initial Term Loans. The Borrowers shall repay to the Administrative Agent (i) for the ratable account of the applicable Term B Lenders holding Initial Term B Loans the aggregate principal amount of all Initial Term B Loans outstanding and (ii) for the ratable account of the Euro Term Lenders holding Initial Euro Term Loans the aggregate principal amount of all Initial Euro Term Loans outstanding, in each case, in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term B Loans or Initial Euro Term Loans, as applicable, pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term B Loans or Initial Euro Term Loans, as applicable, made as of the Closing Date)): Date Amount The last Business Day of each fiscal quarter Each March 31, June 30, September 30 and December 31 ending prior to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31June 30, 2021 2013 0.25% of the aggregate principal amount of the aggregate initial principal amount of the Initial Term B Loans or Initial Euro Term Loans, as applicable, on the Closing Date Date Amount Maturity Date for the Initial Term Loans All Facilities all unpaid aggregate principal amounts of any outstanding Initial Term B Loans or Initial Euro Term Loans, as applicable provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of the Initial Term B Loans or Initial Euro Term Loans, as applicable, shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to the aggregate principal amount of all Initial Term B Loans or Initial Euro Term Loans, as applicable, outstanding on such date; provided, further, that this Section 2.07(a) may be amended (at the option of the Parent Borrower), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 1 contract

Samples: Credit Agreement (Axalta Coating Systems Ltd.)

Initial Term Loans. The Borrowers Borrower shall repay to the Administrative Agent for the ratable account of the applicable Initial Term Lenders Lenders: (A) on or prior to the last day of each March, June, September and December that occurs prior to the Amendment No. 1 Effective Date, an aggregate amount equal to 0.25% of the initial aggregate principal amount of all Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and made on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): Date Amount The , with the first such payment to be made on the last Business Day day of each the fifth full fiscal quarter ending after the Closing Date, (a) on or prior to the Maturity Date for last day of each March, June, September and December that occurs prior to the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31Amendment No. 4 Effective Date, 2021 an aggregate amount equal to 0.25% of the initial aggregate principal amount of the aggregate initial principal amount of the all Initial Term Loans on the Closing Amendment No. 1 Effective Date, with the first such payment to be made on the last day of the first full fiscal quarter ending after the Amendment No. 1 Effective Date; provided that if the Amendment No. 3 Funding Date Maturity Date occurs, after the funding of the 2020 Incremental Term Loans, the Administrative Agent shall be authorized to increase the total amount of amortization to account for the inclusion of the 2020 Incremental Term Loans in the Initial Term Loans All unpaid such that the 2020 Incremental Term Loans will be fungible with the then-existing Initial Term Loans, (C) on or prior to the last day of each March, June, September and December that occurs prior to the Initial Term Loan Maturity Date, an aggregate amount equal to 0.25% of the initial aggregate principal amounts amount of any outstanding all Initial Term Loans provided, however, that (i) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business DayAmendment No. 4 Effective Date, with the first such payment to be made on the last day of the first full fiscal quarter ending after the Amendment No. 4 Effective Date and (iiD) the final principal repayment installment of on the Initial Term Loans shall be repaid on the Loan Maturity Date for the Initial Term Loans and in any event shall be in Date, an aggregate amount equal to the aggregate principal amount of all Initial Term Loans outstanding on such date; provided, further, that this Section 2.07(a) may be amended . (at the option of the Parent Borrowerc), as it relates to any then-existing tranche of Term Loans to increase the amortization with respect thereto, in connection with the Borrowing of any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that such Incremental Term Loans and the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior thereto.

Appears in 1 contract

Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.)

Initial Term Loans. The Borrowers Borrower shall repay to the Administrative Agent for the ratable account of the applicable Initial Term Lenders the aggregate principal amount of all holding Initial Term Loans outstanding in consecutive quarterly installments as follows (which installments shall, to the extent applicable, be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased amortization payments to be calculated in the same manner (and i) on the same basis) as the schedule set forth below for the Initial Term Loans made as of the Closing Date)): Date Amount The last Business Day of each fiscal quarter ending prior March, June, September and December, commencing September 30, 2023, an aggregate principal amount equal to the Maturity Date for the Term Facilities starting with the last Business Day in the fiscal quarter ending on March 31, 2021 0.251.25% of the aggregate principal amount of the aggregate initial principal amount of Initial Term Loans made pursuant to Section 2.01 by the Initial Term Loans on Lenders (other than the Closing Date Maturity Date for the Initial Second Amendment Incremental Term Loans All unpaid aggregate principal amounts of any outstanding Initial Term Loans provided, however, that (iLender) if the date scheduled for any principal repayment installment is not a Business Day, such principal repayment installment shall be repaid on the next preceding Business Day, and (ii) the final principal repayment installment of on the Initial Term Loans shall be repaid on the Maturity Date for the Initial Term Loans and in any event shall be in an amount equal to Date, the aggregate principal amount of all Initial Term Loans outstanding on such date; providedprovided that (x) payments required by clause (i) above (each, further, that this Section 2.07(aan “Amortization Payment”) may shall be amended (at the option reduced as a result of the Parent Borrowerapplication of prepayments in accordance with Section 2.05 and (y) upon each funding of Second Amendment Incremental Term Loans, (A) each subsequent Amortization Payment shall be increased by an amount equal to (1) the principal amount of such Second Amendment Incremental Term Loans multiplied by (2) a fraction equal to (I) the amount of the applicable Amortization Payment (as adjusted from time to time pursuant to Section 2.05 but without giving effect to such Borrowing of Second Amendment Incremental Term Loans) divided by (II) the then aggregate outstanding principal amount of the Initial Term Loans (including any Second Amendment Incremental Term Loans previously funded but without giving effect to such Borrowing of Second Amendment Incremental Term Loans) and (B) each Initial Term lender will receive, on each such payment date, a pro rata portion of the applicable Amortization Payment as adjusted pursuant to the foregoing clause (A), as it relates to any then-existing tranche with such pro rata portion being calculated based on the proportion of the aggregate outstanding principal amount of the Initial Term Loans made by such Initial Term Lender pursuant to increase Section 2.01 to the amortization with respect thereto, aggregate outstanding principal amount of the Initial Term Loans made by all Initial Term Lenders pursuant to Section 2.01. The Administrative Agent shall be authorized to make the adjustments referred to in connection with the Borrowing foregoing proviso and shall upon request provide a schedule of the remaining payments to the Borrower and each Lender. In the event any Incremental Term Loans that constitute Pari Passu Indebtedness if and to the extent necessary so that or Extended Term Loans are made, such Incremental Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the definitive documentation with respect thereto and on the applicable existing Term Loans form the same Class of Term Loans and to the extent practicable, a “fungible” tranche, in each case, without the consent of any party hereto, and (y) such amendments shall not decrease any amortization payment to any Lender that would have otherwise been payable to such Lender prior theretoMaturity Date thereof.

Appears in 1 contract

Samples: Credit Agreement (RingCentral, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.