Loan Tranches Sample Clauses

Loan Tranches. The Company may, at any time and from time to time, upon at least five Business Days notice to the Administrative Agent, allocate all or a portion of Borrowings constituting Revolving Loans, including with respect to Swingline Loans and L/C Obligations, to a revolving credit facility tranche (the "Revolving Facility Tranche") or a capital expenditure tranche (the "Capital Expenditure Tranche"), or both; provided that: (i) at no time shall the Effective Amount of all Revolving Loans and Swingline Loans allocated to the Revolving Facility Tranche plus the Effective Amount of all L/C Obligations exceed $50,000,000; (ii) at no time shall the Effective Amount of all Revolving Loans and Swingline Loans allocated to the Capital Expenditure Tranche exceed $50,000,000; (iii) upon allocation to the Revolving Facility Tranche or the Capital Expenditure Tranche, as case may be, Loans shall remain so allocated notwithstanding any conversion or continuation of Loans pursuant to Section 2.3; (iv) the Company and each of the Banks agree that the establishment of the Revolving Facility Tranche and the Capital Expenditure Tranche is intended to assist the Company in its compliance with Section 8.5 and the corresponding provisions of the applicable Senior Notes Agreements. Accordingly, neither the failure by the Company to comply in any respect with this Section 2.16 nor the failure by the Administrative Agent or any Bank to identify or remedy such noncompliance shall give rise to any liability against the Administrative Agent or any Bank or any defense to compliance by the Company with Section 8.5; and (v) if the Company fails to so allocate the L/C Obligations, the L/C Obligations shall be deemed allocated to the Revolving Facility Tranche. Such notice of allocation shall specify (i) the effective date of such allocation which shall not be a date earlier than the date of such notice, (ii) the aggregate principal amount of Loans (other than Term Loans) (identified by Type of Loan) and L/C Obligations to be allocated to the Revolving Facility Tranche, the Capital Expenditure Tranche, or both, as the case may be, and (iii) in the case of allocations to the Capital Expenditure Tranche, the Company shall represent and warrant that the proceeds of all Loans (other than Term Loans) allocated thereto have been used solely to finance capital improvements, expansions and additions to the Company's property (including Timberlands), plant and equipment. The Administrative Agent will p...

Loan Tranches. Commercial Bank Loans and Commercial Banks Facility Commitments are made, treated, assigned and referred to in Tranches for certain limited purposes under this Agreement. Except as otherwise expressly set forth in this Agreement, all Commercial Bank Loans and all Commercial Banks Facility Commitments shall be identical, without regard to Tranche, including (in the case of outstanding Commercial Bank Loans) rights to payment of principal, interest, Fees or other Obligations under this Agreement or any other Financing Documents, rights to exercise remedies, rights to share in Collateral securing any such Commercial Bank Loan and rights to give or withhold any approval, consent, authorization or vote required or permitted to be given by or on behalf of any Commercial Bank Lender under this Agreement or any other Financing Document.

Loan Tranches. Term Loans and Term Loan Facility Debt Commitments are made, treated, assigned and referred to in Tranches for certain limited purposes under this Agreement. Except as otherwise expressly set forth in this Agreement, all Term Loans and all Term Loan Facility Debt Commitments shall be identical, without regard to Tranche, including (in the case of outstanding Term Loans) rights to payment of principal, interest, Fees or other Term Loan Obligations under this Agreement or any other Finance Documents, rights to exercise remedies, rights to share in Collateral securing any such Term Loan and rights to give or withhold any approval, consent, authorization or vote required or permitted to be given by or on behalf of any Term Lender under this Agreement or any other Finance Document.

Loan Tranches. The Agent may at any time require that the Loan be divided into two or more tranches, of which the aggregate weighted average interest rate shall, as of any sale or securitisation of the Loan, equal the interest rate on the Loan on the date immediately prior to such tranching, but each of which may have a different interest rate and a different amortisation profile PROVIDED always that the impact of such division shall not result in any additional financial obligation to the Borrower over the Term.

Loan Tranches. Construction/Term Loans and Construction/Term Loan Commitments are made, treated, assigned and referred to in Tranches for certain limited purposes under this Agreement. Except as otherwise expressly set forth in this Agreement, all Construction/Term Loans and all Construction/Term Loan Commitments shall be identical, without regard to Tranche, including (in the case of outstanding Construction/Term Loans) rights to payment of principal, interest, Fees or other Obligations under this Agreement or any other Financing Documents, rights to exercise remedies, rights to share in Collateral securing any such Construction/Term Loan and rights to give or withhold any approval, consent, authorization or vote required or permitted to be given by or on behalf of any Construction/Term Loan Lender under this Agreement or any other Financing Document.

Loan Tranches. Lender shall make borrowings to Borrower pursuant to this Agreement as follows: 1.1. $2.7 million immediately upon the execution of this Agreement.

Loan Tranches. The Agent may at any time require that the Loan (or part thereof) be divided into two or more tranches, of which the aggregate weighted average interest rate shall, as of any syndication, sale or securitisation of the Loan (or part thereof), equal the interest rate on the Loan that would have applied from time to time had the tranching not occurred, but each of which may have a different interest rate and a different amortisation profile PROVIDED ALWAYS that (a) the impact of such division shall not directly result in any additional and greater financial obligation to a Security Provider and (b) for the avoidance of doubt, a Security Provider shall not be required to pay for the Agent’s costs and expenses incurred pursuant to this Clause 21.9.

Loan Tranches. (a) The Loan consists of two components: (i) A tranche of $100,000,000 which is available to be disbursed to the Borrower subject to the terms of this Agreement (hereinafter referred to as "Tranche A"); and (ii) A tranche of $50,000,000 which is not available to be borrowed by the Borrower until the satisfaction of the following conditions precedent on or prior to January 25, 1999 (hereinafter referred to as "Tranche B"). (b) Provided that no Default or Event of Default shall occur and be continuing, the Borrower shall have the option, to be exercised by giving written notice to the Agent in the form of Exhibit D hereto on or before January 18, 1999, subject to the terms and conditions set forth in the Agreement, to activate Tranche B, at which point such amount shall be available to be disbursed subject to the terms of this Agreement. The request by the Borrower for activation of Tranche B shall constitute a representation and warranty by the Borrower that all the conditions set forth in this Section shall have been satisfied on the date of such request. (c) The obligations of the Agent and the Banks to activate Tranche B shall be subject to the satisfaction of the following conditions precedent on or prior to January 25, 1999:

Loan Tranches. Any Lender may at any time require that a Loan (or any part of such Loan) be divided into two or more tranches, of which the aggregate weighted average interest rate shall, as of any sale or securitisation of a Loan (or any part of a Loan), equal the interest rate on such Loan on the date immediately prior to such tranching, but each of which may have a different interest rate and a different amortisation profile provided always that the impact of such division shall not result in any additional financial obligation on the Borrower.

Loan Tranches. The Guaranteed Loan shall be disbursed in a series of four (4) tranches (each, a “Tranche”), each in an amount not to exceed the lesser of: (i) the maximum principal amount set out below for such Tranche; and (ii) eighty percent (80%) of the Eligible Project Costs associated with the corresponding production line (each, a “Line”) funded under such Tranche (such amount, the “Maximum Tranche Commitment Amount”), in each case as set out below and as subject to reallocation in accordance with Section 2.06(b) (Determination of Advance Amounts): (i) the first Tranche in a Maximum Tranche Commitment Amount not to exceed one hundred one million nine hundred seventy-nine thousand Dollars ($101,979,000) (“Tranche 1”), which Tranche shall be allocated solely to Eligible Project Costs in connection with the design, construction, installation, startup and shakedown of a battery automation line and related tools, with a projected annual production capacity of approximately 1.25 Gwh (“Line 1”); (ii) a second Tranche in a Maximum Tranche Commitment Amount not to exceed one hundred seventeen million three hundred twenty-six thousand Dollars ($117,326,000) (“Tranche 2”), which Tranche shall be allocated solely to Eligible Project Costs in connection with the design, construction, installation, startup and shakedown of a battery automation line and related tools, site improvements and inventory supply improvements (felt), with a projected annual production capacity of approximately 2.25 Gwh (“Line 2”); (iii) a third Tranche in a Maximum Tranche Commitment Amount not to exceed seventy-one million eight hundred thirty-six thousand Dollars ($71,836,000) (“Tranche 3”), which Tranche shall be allocated solely to Eligible Project Costs in connection with the design, construction, installation, startup and shakedown of a battery automation line and related tools, with a projected annual production capacity of approximately 2.25 Gwh (“Line 3”); and (iv) a fourth Tranche in a Maximum Tranche Commitment Amount not to exceed twelve million three hundred nine thousand Dollars ($12,309,000) (“Tranche 4”), which Tranche shall be allocated solely to Eligible Project Costs in connection with the design, construction, installation, startup and shakedown of a battery automation line and related tools, with a projected annual production capacity of approximately 2.25 Gwh (“Line 4”).