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Initial Elections
Initial Elections contract clause examples

Initial Term Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders holding Initial Term Loans outstanding in consecutive quarterly scheduled installments on each March 31, June 30, September 30 and December 31 (commencing on March 31, 2017) as set forth below (which scheduled installments shall, to the extent applicable, be reduced as a result of the application of pre-payments in accordance with the order of priority set forth in Sections 2.05 and 2.06, or be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.14 (such increased scheduled installment to be calculated in the same manner (and on the same basis) as the schedule set forth below for the Initial Term Loans made or deemed to be made as of the Closing Date):

Section # Repayment of Loans. ii) # Term Loans. The Borrowers shall repay to the Administrative Agent for the ratable account of the Term (1) (i) on the last Business Day of each March, June, September and December, commencing with June 30, 2020, an aggregate principal amount of Initial Term Loans incurred on the Closing Date equal to 0.25% of the aggregate principal amount of all Initial Term Loans outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and (2) (ii) on the Maturity Date for the Initial Term Loans, the aggregate principal amount of all Initial Term Loans outstanding on such date. The Borrower shall repay to the Administrative Agent for the ratable account of the Incremental Amendment No. 1 Term # on the last Business Day of each March, June, September and December, commencing with December 31, 2020, an aggregate principal amount of Incremental Amendment No. 1 Term Loans incurred on the Incremental Amendment No. 1 Effective Date equal to 0.25% of the aggregate principal amount of all Incremental Amendment No. 1 Term Loans outstanding on the Incremental Amendment No. 1 Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and # on the Maturity Date for the Incremental Amendment No. 1 Term Loans, the aggregate principal amount of all Incremental Amendment No. 1 Term Loans outstanding on such date. In the event that any Incremental Term Loans, Refinancing Term Loans or Extended Term Loans are made, such other Incremental Term Loans, Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrowers in the amounts and on the dates set forth in the Incremental Amendment, Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.

The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders # on the last Business Day of March 2021, June 2021, September 2021 and December 2021, an aggregate principal amount equal to 0.625% (2.50% per annum) of the Amortizing Amount, # on the last Business Day of each March, June, September and December thereafter, an aggregate principal amount equal to 1.25% (5.00% per annum) of the Amortizing Amount, and # on the Maturity Date for the Initial Term Loans and the Delayed Draw Term Loans, the aggregate principal amount of all Initial Term Loans and Delayed Draw Term Loans outstanding on such date; provided that payments required by this Section 2.07 shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05. In the event any Refinancing Term Loans or Extended Term Loans are made, such Refinancing Term Loans or Extended Term Loans, as applicable, shall be repaid by the Borrower in the amounts and on the dates set forth in the Refinancing Amendment or Extension Amendment with respect thereto and on the applicable Maturity Date thereof.

SECTION # Amortization of Term Loans. i. The Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders # on the last Business Day of each December, March, June and September, beginning with December 31, 2018 an aggregate amount equal to 0.25% of the aggregate amount of all Term Loans outstanding on the Second Refinancing Facility Agreement Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with [Section 2.11]) and # on the Term Maturity Date, the aggregate principal amount of all Term Loans outstanding on such date. The Borrower shall repay Incremental Term Loans of any Series in such amounts and on such date or dates as shall be specified therefor in the Incremental Facility Agreement establishing the Incremental Term Commitments of such Series (as such amounts may be adjusted pursuant to paragraph # of this Section or pursuant to such Incremental Facility Agreement).

The Borrower shall pay to the Administrative Agent, for the account of the Initial Term [[Organization B:Organization]], on the dates set forth on [Annex I] last calendar day of each calendar quarter, or if any such date is not a Business Day, on the immediately following Business Day (each such date, an “Initial Term Loan Repayment Date”), commencing on May 31, 2025, a principal amount of the Initial Term Loans equal to the amount set forth on [Annex I] for such date 0.25% of the original aggregate principal amount of Initial Term Loans (as adjusted from time to time pursuant to ‎‎[Section 2.10(g)] and in connection with any additional Term Loans made pursuant to ‎Section 2.19), together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment.

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