Common use of Tranche A Advances Clause in Contracts

Tranche A Advances. Lender agreed, on the Original Forbearance Effective Date, to convert a portion of the outstanding principal amount of Lender’s Commercial Loans equal to Lender’s Tranche A Commitment into a term loan to the Borrowers (each amount so converted, a “Tranche A Advance” and, collectively, the “Tranche A Advances”). Any portion of the Tranche A Advances that is subsequently repaid or prepaid may not be reborrowed.

Appears in 2 contracts

Samples: Tribeca Forbearance Agreement (Franklin Credit Management Corp/De/), Forbearance Agreement (Franklin Credit Management Corp/De/)

AutoNDA by SimpleDocs

Tranche A Advances. Lender agreedagrees, on the Original Forbearance Effective Date, to convert a portion of the outstanding principal amount of Lender’s Commercial Loans equal to Lender’s Tranche A Commitment into a term loan to the Borrowers (each amount so converted, a “Tranche A Advance” and, collectively, the “Tranche A Advances”). Any portion of the Tranche A Advances that is subsequently repaid or prepaid may not be reborrowed.

Appears in 2 contracts

Samples: Tribeca Forbearance Agreement (Franklin Credit Management Corp/De/), Forbearance Agreement (Franklin Credit Management Corp/De/)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.