Tranche 2 Loans Sample Clauses
The 'Tranche 2 Loans' clause defines the terms and conditions under which a second portion of loan funds, known as Tranche 2, may be drawn by the borrower. Typically, this clause outlines the specific criteria or milestones that must be met before the lender will disburse the Tranche 2 funds, such as achieving certain financial targets or completing project phases. By clearly specifying the requirements and timing for accessing additional loan amounts, this clause helps manage risk for the lender and ensures that funds are released only when appropriate progress has been demonstrated.
Tranche 2 Loans. The Tranche 2 Loans shall amortize, and Annex A for the Loan Certificates for the Tranche 2 Loans (and the related Schedule 2 of the Mortgage Supplement for the Designated Aircraft) shall be calculated, based on a mortgage-style (level payments of principal and interest) methodology utilizing the Benchmark Rate for the Loan Certificates, with the original principal amount thereof amortizing [**] on a quarterly basis in arrears on each Interest Payment Date (the first such amortizing payment to be made on the first Interest Payment Date next following the Funding Date (or Projected Funding Date, if applicable in accordance with this Section 3(a)) and the final such installment (i.e., the balloon) falling due on the [**] following the Funding Date (or Projected Funding Date, if applicable in accordance with this Section 3(a)). The Loan Participants and the Borrower agree that the aggregate principal amount of each such installment shall be as set forth on the amortization schedule attached as Schedule 3(a)(ii) hereto. The Loan Participants shall determine the Annex A for the Loan Certificates of each Tranche (and the related Schedules 1 and 2 of the Mortgage Supplement for the Designated Aircraft) on the basis specified in this Section 3(a) and shall confirm such proposed schedules with the Borrower. For the avoidance of doubt, if the Funding Date occurs after the Projected Funding Date such that amortization will be calculated from the Projected Funding Date, all payments of principal and interest shall be made solely in respect of periods commencing on the Funding Date and no interest shall accrue on the Loans until from and after the Funding Date.
Tranche 2 Loans. Each Lender with a Tranche 2 Commitment hereby agrees severally, but not jointly, upon the request of the Company pursuant to Section 2.2 below, to make a loan to the Company (each such loan, a “Tranche 2 Loan”) after the Company consummates a Qualified IPO and prior to December 31, 2013 in an amount equal to such Lender’s Pro Rata share of the aggregate Tranche 2
Tranche 2 Loans. The obligations of each Lender to --------------- make the first Tranche 2 Loan hereunder shall not become effective until the date on which the conditions specified in Section 4.03 and each of the following conditions is satisfied (or waived in accordance with Section 9.02), it being understood that such date may occur at any time on or after the Closing Date; provided that no Default then exists (the "Effective Date").
(a) The Administrative Agent and the Collateral Agent shall have received all outstanding fees and other amounts due and payable to them from the Borrower as of the Effective Date, including, to the extent invoiced, reimbursement or payment of all out of pocket expenses required to be reimbursed or paid by the Borrower hereunder, pursuant to the Cooperation Agreement or under any other Loan Document..
(b) The Administrative Agent shall be satisfied with any Material Adverse Changes to the Borrower's business and financing plan provided to the Administrative Agent on the Closing Date.
(c) The Borrower shall have received not less than $215,000,000 in cash proceeds from the issuance of equity (on terms consistent with the prospectus referred to in Section 4.01(m)) and/or debt obligations (pursuant to the Indenture), of which not less than $85,000,000 shall be equity.
(d) The Administrative Agent and/or the Lenders, and the Trustee for the holders of the senior subordinated discount notes issued pursuant to the Indenture shall have entered into the Intercreditor Agreement.
(e) The Indenture shall have been executed by the parties thereto on terms and conditions satisfactory to the Administrative Agent.
(f) If the Effective Date is more than three (3) months after the Closing Date, the Administrative Agent shall have received from the appropriate Affiliate(s) of SprintCom, Inc., a certificate meeting the requirements of Section 4.01(r) signed on behalf of such Affiliate and dated the Effective Date.
(g) The first Tranche I Loan has been made.
(h) The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of each of (i) counsel for the Borrower and the Subsidiaries, substantially in the form reasonably acceptable to the Administrative Agent, and (ii) local counsel for the Borrower and its Subsidiaries, in a form reasonably acceptable to the Administrative Agent, covering such other matters relating to the Borrower and its Subsidiaries, the Loan Do...
Tranche 2 Loans. (i) If (x) the Subsequent Borrowing Condition and conditions set forth in Section 4.03 shall have been satisfied on and as of June 30, 2021 (other than delivery of a Loan Notice) and (y) the Borrower has not delivered a Loan Notice with respect to a Borrowing of Tranche 2 Loans prior to June 30, 2021, deliver a Loan Notice pursuant to Section 4.04 on June 30, 2021 (or such later date as may be agreed by the Lender Representative in its sole discretion).
(ii) If the Subsequent Borrowing Condition or conditions set forth in Section 4.03 shall not have been satisfied on or prior to June 30, 2021 (other than delivery of a Loan Notice) but are each satisfied on and as of any later date that is within the Tranche 2 Availability Period (such date, the “Tranche 2 Mandatory Borrowing Date”), deliver a Loan Notice pursuant to Section 4.04 within five (5) Business Day following the Tranche 2 Mandatory Borrowing Date (or such later date as may be agreed by the Lender Representative in its sole discretion).
Tranche 2 Loans. Each Tranche 2 Lender severally agrees, on the terms and conditions of this Agreement, to make one or more Tranche 2 Loans to the Company in Dollars during the period from and including the date hereof to but not including the Tranche 2 Commitment Termination Date in an aggregate principal amount not to exceed the Tranche 2 Commitment of such Lender as in effect from time to time, provided that in no event shall the aggregate principal amount of all Tranche 2 Loans, together with the aggregate amount of all Letter of Credit Liabilities, exceed the aggregate amount of the Tranche 2 Commitments as in effect from time to time. During such period the Company may borrow, repay and reborrow the amount of the Tranche 2 Commitments and may Convert Tranche 2 Loans of one Type into Tranche 2 Loans of another Type (as provided in Section 2.07 hereof) or Continue Tranche 2 Loans of one Type as Tranche 2 Loans of the same Type (as provided in Section 2.07 hereof).
Tranche 2 Loans. Each Tranche 2 Lender having a Tranche 2 Loan Commitment agrees, subject to the terms and conditions set forth herein, to make Tranche 2 Loans in Dollars to GEO on the Effective Date in an aggregate principal amount equal to the Tranche 2 Loan Commitment of such Lender on the Effective Date. Amounts prepaid or repaid in respect of Tranche 2 Loans may not be reborrowed.