Term Loan Commitment. As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.
Term Loan Commitment. Each Lender with a Term Loan Commitment agrees to make a loan to the Company (each such loan, a “Term Loan”) on the Closing Date in such Lender’s Pro Rata Share of the Term Loan Commitment. The Commitments of the Lenders to make Term Loans shall expire concurrently with the making of the Term Loans on the Closing Date.
Term Loan Commitment. Provided there does not then exist a Default or an Event of Default, subject to the provisions of Section 5 below, and subject to the other provisions and conditions of this Agreement, Lender shall advance to Borrower before the Term Loan Termination Date on a non-revolving credit basis (such advances are herein referred to, collectively, as the "Term Loan"), up to an aggregate amount (the "Term Loan Commitment") not at any time to exceed the “Applicable TL Commitment Amount” (hereinafter defined) or such lesser amount as may be specified by Borrower pursuant to subsection 2.2(E). As used in this subsection, the term “Applicable TL Commitment Amount” means, as of any time of determination, the amount set forth below for the period of time that includes the time of determination: Time Period Applicable TL Commitment Amount from the date of this Agreement and until September 19, 2007 $25,000,000.00 at September 19, 2007 and until September 19, 2008 $24,000,000.00 at September 19, 2008 and until September 19, 2009 $21,500,000.00 at September 19, 2009 and until September 19, 2010 $19,000,000.00 at September 19, 2010 and until the Term Loan Termination Date $16,500,000.00 At any time that the principal balance outstanding under the Term Loan is in excess of the Term Loan Commitment, the Borrower shall immediately repay the full and entire amount of such excess, which principal shall be applied to the principal balance outstanding under the Term Loan. The entire principal balance outstanding under the Term Loan shall be due and payable in full on the Term Loan Termination Date. The Term Loan constitutes a non-revolving line of credit, meaning that the Borrower shall have no right to have principal amounts that have been repaid on the Term Loan readvanced at any time under the Term Loan. Each advance to Borrower under this subsection 2.1 shall be in integral multiples of $100,000.00, subject to subsection 2.8 regarding LIBOR Rate Advances. The Term Loan made by Lender to Borrower under this subsection 2.1 shall be evidenced by a promissory note of even date herewith in the form attached hereto as Exhibit A (the "Term Note") with the blanks appropriately completed. The unpaid balance of the Term Loan shall bear interest and shall be due and payable as provided in this Agreement and the Term Note. Payments to be made by Borrower under the Term Note shall be made at the times, in the amount and upon the terms set forth herein and therein. The Liabilities evidenced b...
Term Loan Commitment. The aggregate Term Loan Commitments shall be automatically and permanently reduced to zero on the date of the Term Borrowing (after giving effect thereto).
Term Loan Commitment. On the Revolving Period Commitment Termination Date (unless such date shall occur as a result of clause (c) of the definition thereof), each Lender will make one term loan (relative to such Lender, its "Term Loan") to the Borrower equal to the lesser of its Revolving Loan and its Percentage of the Term Period Commitment Amount. The Commitment of each Lender described in this Section 2.1.2 is herein referred to as its "Term Loan Commitment". No amounts paid or prepaid with respect to the Term Loans may be reborrowed. LIBO Rate Loans for which the Interest Period shall not have terminated as of the Revolving Period Commitment Termination Date shall be continued as LIBO Rate Loans for the applicable Interest Period and Base Rate Loans shall be continued as Base Rate Loans after the Revolving Period Commitment Termination Date, unless the Borrower shall have elected otherwise by delivery of a Continuation/Conversion Notice pursuant to Section 2.4; provided that such LIBO Rate Loans which shall have converted to Term Loans shall be in a minimum amount of $5,000,000 and an integral multiple of $1,000,000. Any principal repayments received on the Revolving Period Commitment Termination Date for Revolving Loans not converted into Term Loans shall be applied first to Base Rate Loans and, after Base Rate Loans have been paid in full, to LIBO Rate Loans, unless the Borrower shall have otherwise instructed the Agent in writing. Upon a Lender making such Term Loan, its Term Loan Commitment shall terminate and it shall have no further Commitment to make Loans.
Term Loan Commitment. In a single Borrowing (which shall be a Business Day) occurring on or prior to the applicable Commitment Termination Date, each Lender that has a Term Loan Commitment agrees that it will make loans (relative to such Lender, its “Term Loans”) to the Term Loan Borrower equal to such Lender’s Term Loan Percentage of the aggregate amount of the Term Loan Borrowing of Term Loans requested by the Borrower to be made on such day. No amounts paid or prepaid with respect to Term Loans may be reborrowed.
Term Loan Commitment. With respect to each Term Loan Lender, the amount set forth on Schedule 1.1 hereto as the amount of such Term Loan Lender’s Term Loan Commitment to make Term Loans to the Borrower on the Closing Date or on any Commitment Increase Date, as the case may be, as the same may be changed from time to time in accordance with the terms of this Agreement.
Term Loan Commitment. Subject to the terms and conditions set forth in this Credit Agreement, each Lender hereby severally and not jointly agrees to make a term loan in a single draw in Dollars (the “Loan” and collectively, the “Loans”) to the Borrowers on the Effective Date, in an amount equal to such Lender’s Commitment Percentage of the principal amount requested by the Borrowers. The Loans may be subdivided into different tranches, but the aggregate amount of the Loans to be made hereunder shall not exceed the Committed Amount. The Loans shall be made by the Lenders simultaneously and proportionately to their then respective Commitment Percentages, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make a Loan hereunder nor shall the Loans of any Lender be increased or decreased as a result of any such failure. The Commitments shall expire on the earlier of (i) the date on which the Loans are made and (ii) February 15, 2012.
Term Loan Commitment. Lender agrees, on the terms set forth herein, to make a Term Loan to Borrower in an amount up to the Term Loan Commitment. The Term Loan shall be funded by Lender on the Closing Date, and the Term Loan Commitment shall expire upon funding. Once repaid, whether such repayment is voluntary or required, no portion of the Term Loan may be reborrowed.
Term Loan Commitment. As to each Term Loan Lender, its obligation to make Term Loans to the Borrowers pursuant to Section 2.1(a) , in an amount up to, but not exceeding, the amount set forth for such Lender on Schedule 1.1 attached hereto as such Lender’s “Term Loan Commitment Amount” or as set forth in the applicable Assignment and Assumption Agreement.
