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The Loan
The Loan contract clause examples

Term Loan. The Borrower shall repay the outstanding principal amount of the Term Loan in equal quarterly installments of $3,125,000 on the last Business Day of each March, June, September and December, commencing December 31, 2017 (as such installments may hereafter be adjusted as a result of prepayments made pursuant to [Section 2.05(a)]), unless accelerated sooner pursuant to [Section 8.02]. The remaining outstanding principal balance of the Term Loan shall be due and payable on the Maturity Date.

In addition to any other payments or prepayments required herein, the Borrower shall repay to the Term Loan Lenders the aggregate principal amount of the Term Loans outstanding in consecutive quarterly installments on the last day of each quarter beginning on June 30, 2017 in an amount equal to $1,250,000 (provided, however, if such payment date is not a Business Day, such payment shall be due on the preceding Business Day), unless accelerated sooner pursuant to Section 8.02.

Repayment of Term Loans. In addition to any prepayments or repayments made pursuant to Sections 2.10 and 2.11, the Borrower shall repay the aggregate outstanding principal balance of the Term Loans in equal quarterly principal payments on the last day of each March, June, September and December, beginning December 31, 2016, in an amount equal to $7,875,000. Notwithstanding anything herein to the contrary, the entire outstanding principal balance of the Term Loans shall be due and payable in full in cash on the Maturity Date.

To the extent not otherwise required to be paid earlier as provided herein, Borrower shall repay the aggregate principal amount of all outstanding Term Loans in quarterly principal installments, payable on the last Business Day of each fiscal quarter of Borrower (commencing with the fiscal quarter ending June 30, 2024) (each, a “Quarterly Payment Date”) in an amount equal to 2.50% of the aggregate principal balance of the Term Loans outstanding as of the Closing Date plus the aggregate original principal balance of all Term Loans funded after the Closing Date and prior to the first day of the fiscal quarter in which such Quarterly Payment Date falls. All outstanding principal and accrued interest and fees in respect of the Term Loans shall be due and payable in full on the Maturity Date or such earlier date as the Term Loans may be accelerated pursuant to the terms hereof. If any principal repayment installment to be made by Borrower shall come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees.

Subject to adjustment pursuant to paragraph # of this Section, the Borrowers shall repay Term Loan Borrowings on the last day of each March, June, September and December (commencing on December 31, 2021) in the principal amount of Term Loans equal to # the aggregate outstanding principal amount of the Term Loans as of the Eighth Amendment Effective Date, multiplied by # an amount equal to # the aggregate outstanding principal amount of the Term B-3 Loans on the Second Refinancing Amendment Effective Date, divided by, # the aggregate outstanding principal amount of the Term Loans immediately prior to the Eighth Amendment Effective Date, multiplied by, # 0.25%; provided that if any such date is not a Business Day, such payment shall be due on the next preceding Business Day.

Tranche B-3 Term Loan. Beginning with the fiscal quarter ending June 30, 2018, the Borrower shall repay the outstanding principal amount of the Tranche B-3 Term Loan # in equal quarterly installments equal to 0.25% of the outstanding amount of the Tranche B-3 Term Loan as of the effective date of the Second Refinancing Facilities Amendment to this Agreement on the last Business Day of each March, June, September and December (as such installments may hereafter be adjusted as a result of prepayments made pursuant to [Section 2.05]), unless accelerated sooner pursuant to [Section 9.02] and # on the Maturity Date the outstanding principal amount of the Tranche B-3 Term Loan on such date.

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