We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Tranche 1 Sample Clauses

Tranche 1. Subject to the terms and conditions of this Agreement, Lender will severally (and not jointly) make in an amount not to exceed its respective Term Commitment, and Borrower agrees to draw, a Term Loan Advance of Twenty-Five Million Dollars ($25,000,000) on the Closing Date (“Tranche 1”).
AutoNDA by SimpleDocs
Tranche 1. The Tranche 1 Options will vest and become exercisable with respect to 25% of the Tranche 1 Options on each of the first, second, third and fourth anniversaries of the Grant Date.
Tranche 1. The Tranche 1 Options will vest and become exercisable (A) with respect to 25% of the Shares subject to the Tranche 1 Options on and after the third anniversary of the Grant Date; (B) with respect to an additional 25% of the Shares subject to the Tranche 1 Options on and after the fourth anniversary of the Grant Date; and (C) with respect to the remaining 50%
Tranche 1Borrower shall request a Term Loan under Tranche 1 in the principal amount of Two Million Five Hundred Thousand Dollars ($2,500,000) as of the Closing Date. The Tranche 1 Advance shall be used to repay Borrower’s indebtedness to Oxford Finance LLC. Bank will credit any proceeds remaining after that payment to Borrower’s account with Bank.
Tranche 1. The Tranche 1 Shares will vest as follows: 20% on and after December 30, 2010; 20% on and after December 30, 2011; 20% on and after December 30, 2012; 20% on and after December 30, 2013; and 20% on and after December 30, 2014. Notwithstanding the above, 100% of a Grantee’s outstanding and unvested Tranche 1 Shares shall vest immediately upon a Change of Control.
Tranche 1The Borrower shall repay the Tranche 1 Term Loan as follows: (A) Eight (8) quarterly installments, each such installment in the amount of the Tranche 1 Term Amortization Amount, due and payable on the last Business Day of each June, September, December and March of each year commencing on December 31, 2009 and continuing until and including September 30, 2011; (B) Three (3) quarterly installments, each such installment in the amount equal to twenty-five percent (25%) of the principal amount of the Tranche 1 Term Loan outstanding on December 30, 2011, due and payable on December 31, 2011, March 31, 2012 and June 30, 2012; and (C) One (1) final installment in the amount of all Tranche 1 Term Loans then outstanding, due and payable on the Xxxxxxx 0 Xxxx Xxxxxxxx Date.
Tranche 1Each Lender shall fund its pro rata share of the Tranche 1 Commitment in the aggregate amount of Twenty Million Dollars ($20,000,000) on the Funding Date.
AutoNDA by SimpleDocs
Tranche 1In the event that for thirty consecutive trading days ending on or prior to the fifth anniversary of the Effective Date (the “Expiration Date”), the closing sales price of the Company’s common stock quoted on the NASDAQ Global Select Market (or such other securities exchange on which the shares are listed) (the “30 Day Price”) exceeds $30.00 per share, 125,000 shares of the Additional Restricted Stock Award (“Tranche 1”) shall vest in accordance with the Time-Based Vesting Schedule (as defined below).
Tranche 1. The full amount of Tranche 1 shall have been disbursed to the Borrower.
Tranche 1. The Tranche 1 Shares will vest (i) with respect to 20% of the Tranche 1 Shares on March 1, 2007 and 20% of the Tranche 1 Shares on each subsequent March 1st until 100% of the Tranche 1 Shares are vested and (ii) if earlier, with respect to 100% of the unvested Tranche 1 Shares upon a Change of Control.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!