Term Loan Increase. Upon the effectiveness of this Amendment, each Lender, severally and not jointly, shall reset the Term Loan by making available to Borrowers an additional Advance thereunder in an amount equal to such Lender’s Term Loan Commitment Percentage of the principal amount of $5,000,000.00 (“Term Loan Increase”). The outstanding principal balance of the Term Loan (including the Term Loan Increase) as of the date hereof is $7,909,523.84. Lenders shall fund the Term Loan Increase to Borrowers upon the effectiveness of this Amendment. Notwithstanding anything to the contrary contained in Section 2.3(a) of the Loan Agreement, which shall be amended hereby as and to the extent inconsistent with this paragraph, the reset balance of the Term Loan shall be, with respect to principal, payable as follows, subject to acceleration upon the occurrence of an Event of Default under this Agreement or termination of this Agreement: eighty-three (83) consecutive installments each in the amount of $94,161.00 commencing July 1, 2020 and continuing on the first day of each month thereafter followed by an 84th payment of all unpaid principal, accrued and unpaid interest and all unpaid fees and epxenses. The Term Loan shall be evidenced by one or more secured promissory notes (collectively, the “Term Note”) in substantially the form attached to the Loan Agreement as Exhibit 2.3(a). The Term Loan may consist of Domestic Rate Loans or LIBOR Rate Loans, or a combination thereof, as Borrowing Agent may request; and in the event that Borrowers desire to obtain or extend any portion of the Term Loan as a LIBOR Rate Loan or to convert any portion of the Term Loan from a Domestic Rate Loan to a LIBOR Rate Loan, Borrowing Agent shall comply with the notification requirements set forth in Sections 2.2(b) and/or (e) of the Loan Agreement and the provisions of Sections 2.2(b) through (h) of the Loan Agreement shall apply.
Term Loan Increase. (a) The Borrower shall give the Administrative Agent irrevocable notice prior to 11:00 A.M., New York City time, three Business Days prior to the anticipated Amendment No. 4 Effective Date, specifying (A) the aggregate principal amount of New Term Loans to be borrowed and (B) the requested Borrowing Date. Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify the Fronting Lender. The Fronting Lender will make available the full amount of the Term Loan Increase to the Administrative Agent for the account of the Borrower at the Funding Office prior to 11:00 A.M., New York City time, on the borrowing date requested by the Borrower in funds immediately available to the Administrative Agent. Notwithstanding anything herein to the contrary, the Term Loan Increase funded on the Amendment No. 4 Effective Date shall be funded as Eurodollar Loans which shall be deemed to have an initial Interest Period identical to the Interest Period of the Term Loans that are outstanding immediately prior to the Amendment No. 4 Effective Date (which Interest Period shall end on the last Business Day of May).
Term Loan Increase. (a) The Increasing Lender agrees, subject to the terms and conditions of the Credit Agreement, that on the Effective Date (as defined below) it shall provide a Term Loan Increase (the “2023 Increase Term Loan Commitments”) and make Term Loans thereunder (the “2023 Increase Term Loans”) which shall constitute and be an addition to the “2023 Term Loans” under the Credit Agreement with an aggregate principal amount set forth opposite its name under the heading “2023 Increase Term Loan Commitments” on Schedule I attached hereto.
Term Loan Increase. Subject to the terms and conditions set forth herein, the Incremental Lender agrees to make a New Tranche B Term Loan to the Borrower on the Term Loan Increase Effective Date (as defined below) in an amount equal to the amount set forth under the heading “New Tranche B Commitment” opposite the Incremental Lender’s name on Annex II hereto (such commitment, the “Term Loan Increase”). The proceeds of the Term Loan Increase will be used by the Borrower solely to prepay a portion of the Non-Extended Term Loans and to pay fees and expenses in connection with the establishment of the Term Loan Increase. The New Tranche B Term Loan made pursuant to the Term Loan Increase shall be made in accordance with the procedures set forth in Section 2.03 of the Credit Agreement.
Term Loan Increase. The Agent will notify the Lenders of the Increase Election on the same Business Day that it notifies the Borrower pursuant to Section 2.1(b). Each Lender will provide to the Agent such Lender’s pro rata amount of the Term Loan Increase Amount in Immediately Available Funds not later than 11:00 A.M. (Minneapolis, Minnesota time) on the Business Day immediately following its receipt of such notice. Unless the Agent determines that any applicable condition specified in Article III has not been satisfied, and following receipt by the Agent of duly executed originals of the Replacement Notes, the Agent will promptly provide the Term Loan Increase Amount in Immediately Available Funds to the Borrower on such Business Day, provided, that, if the conditions specified in this Section 2.2(b) are not satisfied by 12:00 noon (Minneapolis, Minnesota time) on such Business Day, the Agent shall provide such funds on the immediately succeeding Business Day.
Term Loan Increase. As of the date hereof, immediately prior to giving effect to this Amendment, Borrower has requested and received advance(s) under the Term Loan totaling $10,000,000 and the total amount available for additional advances under the Term Loan pursuant to the Term Loan Commitment of $17,000,000 hereof is $7,000,0000. Upon the effectiveness of this Amendment, Administrative Agent and Lenders shall reset the Term Loan by making available to Borrower additional availability for advances under the Term Loan in the principal amount of $8,000,000 (the “Term Loan Increase”) and thereby increasing the total Term Loan Commitment from $17,000,000 to $25,000,000 and increasing the total amount available for additional advances under the Term Loan from $7,000,000 to $15,000,000 (the “Unfunded Term Loan Balance”). The outstanding principal balance of the Term Loan as of the date hereof is $8,055,555.54 (“Existing Funded Term Loan”). Subject to the terms and conditions of the Credit Agreement, Borrower may request that advances under the Term Loan be made to Borrower in respect of the Unfunded Term Loan Balance only as follows: (i) Borrower shall be obligated to request an advance of $8,000,000 of the Unfunded Term Loan Balance to be made on or before December 31, 2007 (“First Tranche”) and (ii) Borrower may request an advance of $7,000,000 (subject to reduction in accordance with the following proviso) to be made at any time concurrently with or after the making of the First Tranche but not later than December 31, 2008 (the “Second Tranche”); provided that the total amount available to Borrower to be borrowed under the Second Tranche (and the corresponding amounts of the Term Loan Commitment and the Unfunded Term Loan Balance) shall be reduced by $6,481.48 per day commencing on July 1, 2008. Notwithstanding anything to the contrary contained in Credit Agreement, no advances under the Term Loan shall be made after December 31, 2008, and any portion of the Term Loan Commitment not funded as of the close of business on December 31, 2008 shall thereupon automatically be terminated and the Term Loan Commitment Amount of each Lender as of such date shall be reduced by such Lender’s Pro Rata Share of such total reduction in the Term Loan Commitment. Without limiting the generality of anything contained in Section 2.1(a)(i) of the Credit Agreement, each Lender’s obligation to fund the First Tranche and the Second Tranche shall be limited to such Lender’s Term Loan Commitment Perce...
Term Loan Increase. On the date hereof, each Lender with a Term Loan Commitment agrees (severally, not jointly or jointly and severally) to make an additional term loan (collectively, the “Supplemental Term Loan”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of the Term Loan Amount minus the aggregate outstanding principal amount, on the date immediately prior to the date hereof, of the Term Loan. The Supplemental Term Loan shall, for all purposes hereof, be deemed an advance of the Term Loan, shall be combined and added to, on the date hereof, the principal amount of the Term Loan outstanding on the date immediately prior to the date hereof, and shall be payable in consecutive monthly principal installments of $183,333.33 each. After giving effect to the Supplemental Term Loan, the outstanding principal amount of the Term Loan (after adding the principal amount of the Supplemental Term Loan to the principal amount of the Term Loan outstanding on the date immediately prior to the date hereof) shall be equal to the Term Loan Amount. Nothing contained herein is intended to limit, prejudice or otherwise impair Agent’s and Lenders’ rights, or Borrower’s obligations, under Section 2.2 of the Loan Agreement.
Term Loan Increase. (a) Pursuant to Section 2.14(a) and (d) of the Credit Agreement, upon the funding of the New Term Loans on the Effective Date, the New Term Loans shall be deemed a Term Loan Increase and automatically and without further action by any Person shall constitute additional Initial Term Loans (and shall have the same terms as the Initial Term Loans (including the same Applicable Margin)) for all purposes of the Credit Agreement and the other Credit Documents (other than to the extent a reference to the Initial Term Loans in the Credit Agreement or such other Credit Documents is qualified by reference to the Closing Date (including, for the avoidance of doubt, all references to the Initial Term Loans in Section 6 of the Credit Agreement)).
Term Loan Increase. A Term Loan Increase in an amount of not less than $25,500,000 shall have become effective contemporaneously with the Effective Date and, in relation thereto, the Administrative Agent shall have received an officer’s certificate stating that each of the conditions set forth or referred to in Section 2.06(f)(i) of the Credit Agreement have been satisfied; provided that the requirements of Section 2.06(f)(i)(A) shall be waived with respect to any Assuming Lender or Increasing Lender providing a portion of such Term Loan Increase.
Term Loan Increase. (1) At any time from the execution of this Agreement but no later than the 90th day preceding the maturity date of the Credit the Borrower may request a one-time increase of the amount of the credit facilities hereunder by adding a term loan facility (a “term loan increase”), subject to the following conditions:
