Term A Loan Commitment. The Borrower and the Lenders acknowledge the making of the Existing Term A Loan and the Existing Term B Loan and each Lender that has a Term A Commitment, severally and for itself alone, hereby agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, that such Existing Term A Loan shall continue to be outstanding as loans pursuant to the terms and conditions of this Agreement (each such loan, an "Original Term A Loan") and that an aggregate principal amount of Existing Term B Loan shall be converted to Term A Loans and shall continue to be outstanding as Term A Loans (each 35 69 such loan, a "Converted Term A Loan", and together with the Original Term A Loans, "Term A Loans") pursuant to the terms and conditions of this Agreement, such that, on the Effective Date, the aggregate principal amount of Original Term A Loans and Converted Term A Loans (the "Effective Date Term A Amount") shall equal $60,000,000 and each Lender that has a Term A Loan Commitment shall be deemed to have outstanding Term A Loans in an aggregate principal amount equal to its Term A Percentage of such Effective Date Term A Amount. No amounts paid or prepaid with respect to Term A Loans may be reborrowed.
Appears in 1 contract
Sources: Assignment, Amendment and Restatement Agreement (Global Power Equipment Group Inc/)
Term A Loan Commitment. The Borrower and the Lenders acknowledge the making of the Existing Term A Loan and the Existing Term B Loan and each Lender that has a Term A Commitment, severally and for itself alone, hereby agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, that such Existing Term A Loan shall continue to be outstanding as loans pursuant to the terms and conditions of this Agreement (each such loan, an "Original Term A Loan") and that an aggregate principal amount of Existing Term B Loan shall be converted to Term A Loans and shall continue to be outstanding as Term A Loans (each 35 69 such loan, a "Converted Term A Loan", and together with the Original Term A Loans, "Term A Loans") pursuant to the terms and conditions of this Agreement, such that, on the Effective Date, the aggregate principal amount of Original Term A Loans and Converted Term A Loans (the "Effective Date Term A Amount") shall equal [$60,000,000 60,000,000] and each Lender that has a Term A Loan Commitment shall be deemed to have outstanding Term A Loans in an aggregate principal amount equal to its Term A Percentage of such Effective Date Term A Amount. No amounts paid or prepaid with respect to Term A Loans may be reborrowed.
Appears in 1 contract
Sources: Credit Agreement (Global Power Equipment Group Inc/)
Term A Loan Commitment. The Borrower and the Lenders acknowledge the making of the Existing Term A Loan and the Existing Term B Loan and each Lender that has a Term A Loan Commitment, severally and for itself alone, hereby agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, that such Existing Term A Loan shall continue to be outstanding as loans pursuant to the terms and conditions of this Agreement (each such loan, an "Original Term A Loan") and that an aggregate principal amount of Existing Term B Loan shall be converted to Term A Loans and shall continue to be outstanding as Term A Loans (each 35 69 such loan, a "Converted Term A Loan", and together with the Original Term A Loans, "Term A Loans") pursuant to the terms and conditions of this Agreement, such that, on the Effective Date, the aggregate principal amount of Original Term A Loans and Converted Term A Loans (the "Effective Date Term A Amount") shall equal $60,000,000 and each Lender that has a Term A Loan Commitment shall be deemed to have outstanding Term A Loans in an aggregate principal amount equal to its Term A Percentage as of the Effective Date of such Effective Date Term A Amount. Subject to the conditions set forth in Section 5.2, in a single draw on any Business Day occurring on or prior to the Additional Term A Loan Commitment Date, each Lender that has an Additional Term A Loan Commitment agrees that it will make loans (relative to such Lender, its "Additional Term A Loans", and together with the Converted Term A Loans and the Original Term A Loans, the "Term A Loans") to the Borrower equal to such Lender's Additional Term A Percentage of the aggregate amount of the Borrowings of Additional Term A Loans requested by the Borrower to be made on such day. No amounts paid or prepaid with respect to Term A Loans may be reborrowed.
(f) Section 3.1.1(c) of the Credit Agreement is amended by amending and restating the table contained therein to read as follows:
(g) Section 7.2.8 of the Credit Agreement is amended by amending and restating clause (a)(i)(z) thereof to read as follows: (z) so long as at the time of such prepayment (or the giving of irrevocable notice thereof) there shall exist no Default, prepayments of Subordinated Loans in an aggregate principal amount not to exceed $40,000,000, plus up to $11,000,000 of accrued interest, premium and related fees and expenses) on or before July 2, 2001,
Appears in 1 contract
Sources: Credit Agreement (Global Power Equipment Group Inc/)