New Term Loan Sample Clauses
New Term Loan. Pursuant to Section 2.12 of the Credit Agreement, on the Increased Amount Date, the Initial Incremental Lender hereby agrees to make to the Company a term loan in respect of its Initial Incremental Term Loan Commitment, in the aggregate principal amount of $135,000,000 (the “Initial Incremental Term Loan”) upon, and subject to, the following terms and conditions:
A. the Initial Incremental Lender hereby becomes a Lender under the Credit Agreement with respect to its Initial Incremental Term Loan Commitment and, following the making thereof, the Initial Incremental Term Loan. Upon the making thereof, the Initial Incremental Term Loan shall be deemed, and is hereby made, a pro rata tranche of the existing Term Loans under the Credit Agreement (the “Original Term Loans”), and all references to such Original Term Loans and, except as otherwise provided herein, each provision of the Credit Agreement applicable to such Original Term Loans shall apply to and be deemed to include the Initial Incremental Term Loan. Without limitation of the foregoing, the maturity date of the Initial Incremental Term Loan shall be the Term Loan Maturity Date;
B. upon the funding of the Initial Incremental Term Loan, $135,000,000 shall be added to the Register for purposes of determining (together with any Original Term Loans of the Initial Incremental Lender) the Initial Incremental Lender’s Term Loans;
C. Company shall repay the Initial Incremental Term Loan in the manner consistent with Section 2.4 of the Credit Agreement and in the amounts set forth on Exhibit 1 hereto;
D. the rate of interest applicable to the Initial Incremental Term Loan shall be the same as is applicable to the Original Term Loans; provided, however, that in the event that any additional Incremental Term Loan is entered into on or prior to the first anniversary of the funding of the Initial Incremental Term Loan and the interest margins, upfront fees, original issue discount or any other component of the Yield on such additional Incremental Term Loan (the “Additional Incremental Component”) exceeds the corresponding component of Yield on the Initial Incremental Term Loan (the “Initial Incremental Component”) (determined as provided in Section 2.12(d) of the Credit Agreement), then such Initial Incremental Component shall be adjusted such that the Initial Incremental Term Loan benefits equally with such additional Incremental Term Loan, including in the case of (i) the interest margins, the interest margins f...
New Term Loan. A new Section 1C is added to the Schedule to Loan and Security Agreement as follows:
New Term Loan. Borrower has requested that CIT make a new term loan to Borrower in the principal amount of $403,740.86 (the "New Term Loan"). CIT has agreed to make the New Term Loan to Borrower by consolidating the New Term Loan with the existing Term Loan made to Borrower under Section 10.2(a) of the Loan Agreement on or about September 24, 1998, which has an outstanding principal balance of $346,259.14 as of the date hereof. In order to evidence this consolidation, CIT and Borrower agree to amend and restate Section 10.2(a) in its entirety to read as follows:
(a) A Term Loan shall be made to Borrower on or about January 17, 2003 in the amount of $750,000, which consists of an original Term Loan having an outstanding principal balance of $346,259.14 as of such date and a new term loan of $403,741.86 to be made on or about such date. The principal amount of this Term Loan shall be repaid in immediately available funds in thirty (30) equal consecutive monthly installments of $24,732.80 each, with a final payment of $8,016.00, due and payable commencing February 1, 2003 and on the first day of each month thereafter, provided that notwithstanding the foregoing, the unpaid principal balance thereof shall be due and payable in full on the expiration of any Term or the termination of this Agreement, if earlier." The outstanding principal balance of the existing Term Loan made under Section 10.2(a) of the Loan Agreement shall remain outstanding and shall not be deemed to have been repaid by the making of the New Term Loan.
New Term Loan. The BANK shall extend to the BORROWER a new term loan in the principal amount of Five Million Dollars ($5,000,000.00) (the "2002 New Term Loan"), upon and subject to the terms and conditions set forth in the Term Promissory Note of even date evidencing the 2002 New Term Loan, the other Loan Documents and this Agreement.
New Term Loan. Section 2.4 of the Credit Agreement shall be modified to reflect the addition of a new term Loan, by the addition thereto of a new Section 2.4A at the end of said Section 2.4, to read as follows:
New Term Loan. Section 2.3 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
New Term Loan. (a) Availability. Bank shall make one term loan available to Borrower in an amount equal to $8,600,000 (the “Term Loan”) within two days after the date of the June 2007 Amendment subject to the satisfaction of the terms and conditions of this Agreement. After repayment, no portion of the Term Loan may be reborrowed.
New Term Loan. A term loan (the "New Term Loan") to the Corporate Borrowers, available in multiple Advances from the date of the Second Amendment to this Agreement through January 31, 2001 (such period, the "Advancing Period") in an aggregate amount not to exceed $750,000 (the "New Term Loan Commitment Amount"). The proceeds of the New Term Loan shall be used to purchase equipment. The provisions of Section 2.2 hereof relating to Advances on the Term Loan shall apply to the New Term Loan.
New Term Loan. Subject to all the terms and conditions of this Agreement and so long as no Default exists, on the Amendment No. 1
New Term Loan. Section 2.2A(a) and (b) is hereby amended and restated in its entirety to read as follows: