Term Advance. Except as set forth in Section 2.3(b), the Term Advance shall bear interest, on the outstanding daily balance thereof, at a rate equal to one and one half percent (1.50%) above the Prime Rate.
Term Advance. Each Term Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance to the Borrower on any one Business Day during the period from the Closing Date until the Term Commitment Termination Date in an amount not to exceed such Term Lender’s Term Commitment. The Term Borrowing shall consist of Term Advances of the same Type made simultaneously by the Term Lenders on such Business Day ratably according to their Term Commitments. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.
Term Advance. (a) The Lender agrees, subject to the terms and conditions of this Agreement, to make a single advance to the Borrower on the Funding Date (the “Term Advance”) in an amount not exceeding the lesser of $340,000 or one hundred percent (100%) of the Net Forced Liquidation Value of the Borrower’s Eligible Equipment. The Borrower’s obligation to pay the Term Advance shall be evidenced by the Term Note and shall be secured by the Collateral as provided in Article III.
Term Advance. Each Term Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance (each a “Term Advance”) to the Borrower on the Closing Date in an amount for each such Term Advance not to exceed such Term Lender’s Term Commitment. The Term Borrowing shall consist of Term Advances of the same Type made simultaneously by the Term Lenders on the Closing Date ratably according to their Term Commitments. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not reborrowed.
Term Advance. Subject to and upon the terms and conditions of this Agreement, Borrower may request, and Bank shall lend, one Term Advance to Borrower on the First Amendment Date in a principal amount of Five Million Dollars ($5,000,000). Borrower shall use the proceeds of the Term Advance in connection with the transaction involving Hyfiniti, and pay related costs over the year following that transaction. Borrower shall make interest-only payments on the principal amount of the Term Advance on the last Business Day of each month, beginning October 31, 2013 and continuing through September 30, 2014. Beginning October 31, 2014, and continuing on the last day of each succeeding month, Borrower shall make equal monthly payments of principal, plus accrued interest, on the Term Advance. On the Term Maturity Date, Borrower shall pay Bank an amount equal to all accrued but unpaid interest and any outstanding principal of the Term Advance. Borrower may prepay all, but not less than all, of the Term Advance, provided that Borrower shall pay a prepayment fee equal to one percent (1.0%) of the amount of any prepayment made on or before the first anniversary of the First Amendment Date, which fee shall be due at the time of such prepayment.
Term Advance. (a) Borrower and Bank acknowledge that Bank has made the Term Advance under the Original Agreement on or prior to the Term Availability Date in an amount equal to the Term Loan Amount. As of the date hereof, the outstanding principal amount of the Term Advance is $1,444,444.40. Amounts borrowed under this Section 2.1.2 may not be reborrowed once repaid.
Term Advance. The Lender agrees, subject to the terms and conditions of this Agreement, to make a single advance on a term loan basis to the Borrower on the Funding Date (the “Term Advance”) in an amount equal to $4,350,000. The Borrower’s obligation to pay the Term Advance shall be evidenced by the Term Note and shall be secured by the Collateral as provided in Article III.
Term Advance. (a) The Lender agrees, subject to the terms and conditions of this Agreement, to make a single advance to the Borrowers on or about January ___, 2007 in the amount of $518,000 (the “Term Advance”). The Borrowers’ obligation to pay the Term Advance shall constitute an additional “Obligation” hereunder, shall be evidenced by the Term Note and shall be secured by all of the Collateral.
Term Advance. Subject to the terms and conditions of this Agreement and the Trust Indenture, Disbursing Agent shall disburse to Issuer (i) on the Closing Date, or as soon thereafter as practical, the proceeds of the Series 2023-A Notes issued under the Trust Indenture, in an aggregate amount of Sixty Million Dollars ($60,000,000) (the “Series 2023-A Term Advance”), (ii) on the Fifth Amendment Effective Date, or as soon thereafter as practical or as otherwise set forth in the Trust Indenture, the proceeds of the Series 2024-A Notes issued under the Trust Indenture, in an aggregate amount of Five Million Dollars ($5,000,000) and (iii) on the date of issuance, or as soon thereafter as practical, the proceeds of any Additional Series 2024-A Notes issued under the Trust Indenture, (clauses (ii) and (iii), the “Series 2024-A Term Advance”), and together with the Series 2023-A Term Advance, the “Term Advance”). Notwithstanding the foregoing, the reference to “the advance” in the definition of “Disbursement” in the Disbursement Monitoring Agreement shall be deemed to refer to the Series 2023-A Term Advance only.”
Term Advance. Lender will make the Term Advance on the Effective Date as directed by Borrower in a written direction delivered to Lender. The manner of disbursement shall be subject to Lender's approval.
