Tranche B Loan Sample Clauses
The Tranche B Loan clause defines a specific portion of a larger loan facility, typically distinguished by its own terms, interest rates, and repayment schedule. In practice, Tranche B loans often have longer maturities and higher interest rates compared to Tranche A, and may be used to finance leveraged buyouts or other significant transactions. This clause ensures that the rights and obligations related to this particular tranche are clearly set out, helping to allocate risk and clarify repayment priorities among lenders and borrowers.
POPULAR SAMPLE Copied 1 times
Tranche B Loan. Subject to the terms and conditions of this Agreement, from time to time after the Closing Date, Lenders may, but shall not be required to, make additional Loans to Borrowers (each, an “Additional Term Loan” and collectively, the “Tranche B Loan” or the “Additional Term Loans”), up to an aggregate additional amount not to exceed the Additional Term Loan Commitment. Except as otherwise mutually agreed among Borrowers and Lenders, (a) Borrowers may request Additional Term Loans (i) in minimum increments of $500,000 and (ii) for the purpose of (A) funding Permitted Acquisitions and other growth initiatives and/or (B) refinancing Subordinated Debt, and (b) any Additional Term Loans will have terms, amortization, interest rate, and fees consistent with the Initial Term Loan. Any Additional Term Loan by Lenders shall be subject to the conditions set forth in Section 5.3.
Tranche B Loan. AEF agrees, upon the terms and subject to the conditions set forth herein and in the Conversion Commitment Letter, to convert (herein referred to as "CONVERSION") Tranche A Loans (in an aggregate amount not exceeding the Conversion Commitment Amount) into the Tranche B Loan by furnishing a Notice of Conversion to the Customer on or after the date of Launch (or Reflight, as the case may be), PROVIDED that (i) the Satellite is not destroyed or lost during the period extending from the instant when the Launch (or Reflight, as the case may be) occurs and the instant when the Satellite has separated from the Launch Vehicle and (ii) the Satellite does separate from the Launch Vehicle. Subject to Section 2.04, the Conversion shall be effective for the period commencing on the date of Launch (or Reflight, as the case may be) and terminating on the Maturity Date. The Tranche B Loan to the extent that it is repaid or prepaid may not be reborrowed.
Tranche B Loan. To request the Borrowing of the Tranche B Loan, the Borrower shall notify the Administrative Agent of such request by telephone (x) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing and (y) in the case of an ABR Borrowing, not later than 12:00 noon, New York City time on the date of the proposed Borrowing. Such telephonic notice shall be irrevocable and shall be confirmed promptly by hand delivery, courier or telecopy to the Administrative Agent of a written Borrowing Request in a form reasonably acceptable to the Administrative Agent and signed by the Borrower. Such telephone and written Borrowing Request shall specify the following information in compliance with Section 2.01:
(i) the aggregate amount of the requested Borrowing (which shall be the amount of the Total Tranche B Commitment);
(ii) the date of such Borrowing, which shall be a Business Day and the Effective Date;
(iii) the portion of the Tranche B Loan that is to initially be an ABR Borrowing and that is to initially be a Eurodollar Borrowing; and
(iv) in the case of such portion of the Tranche B Loan that is a Eurodollar Borrowing, the initial Interest Period applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”. If no election as to the Type of Borrowing is specified, then the Tranche B Loan shall initially be an ABR Borrowing. If no Interest Period is specified with respect to any portion of the Tranche B Loan that is to initially be a Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of the Borrowing Request in accordance with this Section 2.04(b), the Administrative Agent shall advise each Tranche B Lender of the details thereof and of the amount of such Tranche B Lender’s Loan to be made as part of the requested Borrowing (which shall be equal to such Tranche B Lender’s Tranche B Commitment).
Tranche B Loan. (i) Subject to the terms and conditions of this Agreement and relying on the representations and warranties set forth herein, each Lender, severally and not jointly, agrees to provide its share of the Tranche B Loan to the Borrower on the Tranche B Loan Borrowing Date in Dollars in a principal amount equal to such ▇▇▇▇▇▇’s Tranche B Loan Commitment. No Lender shall have an obligation to make a Tranche B Loan in excess of such ▇▇▇▇▇▇’s Tranche B Loan Commitment.
(ii) Subject to the terms and conditions of this Agreement (including Section 6.03), the Borrower shall deliver to the Administrative Agent a fully executed Borrowing Notice no later than 5 p.m. (New York City time) at least three (3) Business Days in advance of the proposed Tranche B Loan Borrowing Date.
(iii) The Borrower may make one borrowing under the Tranche B Loan Commitment which shall be on the Tranche B Loan Borrowing Date. Subject to Section 3.03, all amounts owed hereunder with respect to the Tranche B Loan shall be paid in full no later than the Maturity Date. Each Lender’s Tranche B Loan Commitment shall terminate immediately and without further action on the earlier of (x) the Tranche B Loan Borrowing Date after giving effect to the funding of such Lender’s Tranche B Loan Commitment on such date and (y) the Tranche B Loan Commitment Termination Date.
Tranche B Loan. Lender agrees to make a term loan to Borrower on the Tranche B Closing Date in a principal amount equal to the Tranche B Loan Amount (the “Tranche B Loan”). After repayment, no Term Loan may be re-borrowed.
Tranche B Loan. The Borrower shall on each Repayment Date that relates to all or part of the Tranche B Loan, repay to the Term Lenders such part of the Tranche B Loan as is required to be repaid by clause
Tranche B Loan. If at any time the Tranche B Facility Usage exceeds the Tranche B Borrowing Base then in effect (such excess is hereinafter called the "Tranche B Excess Debt"), Borrower shall take one of the following actions within three Business Days following receipt of notice from the Agent of the existence of such Tranche B Excess Debt:
(i) Convert the Tranche B Excess Debt to principal outstanding under the Tranche A Loan, and execute and deliver to the Banks amendments to the Loan Documents satisfactory to Lenders; or
(ii) Repay the Tranche B Loan in an amount equal to the Tranche B Excess Debt. Each prepayment of principal under this section shall be accompanied by all interest then accrued and unpaid on the principal so prepaid. Any principal or interest prepaid pursuant to this section shall be in addition to, and not in lieu of, all payments otherwise required to be paid under the Loan Documents at the time of such prepayment. Failure to timely comply with this paragraph 2.7(b) shall be an immediate Event of Default.
Tranche B Loan. Provided the Tranche A Loan Amount is less than or equal to $80,000,000.00, Lender agrees to make a term loan to Borrower on the Tranche B Closing Date in a principal amount (the “Tranche B Loan Amount”) not less than Twenty Million Dollars ($20,000,000.00) and not exceeding the difference between One Hundred Million Dollars ($100,000,000.00) and the Tranche A Loan Amount, in exchange for a note with an initial principal amount equal to the Tranche B Loan Amount (the “Tranche B Loan”);
Tranche B Loan. Subject to and upon the terms and conditions contained herein, each Tranche B Lender agrees to make its Tranche B Loan to Canadian Borrower in US Dollars on the Closing Date. The aggregate of each Tranche B Lender’s Tranche B Loan is US$5,000,000.
Tranche B Loan. Except as otherwise agreed to in writing by Lenders in connection with any Additional Term Loan, Borrowers shall use the proceeds of any and all Additional Term Loans for the purpose of funding (i) Permitted Acquisitions and/or other growth initiatives, (ii) refinancing Subordinated Debt, and (iii) the transaction costs, fees and expenses of such Additional Term Loans (and Permitted Acquisitions, if applicable).