Tranche B Repayment Clause Samples
Tranche B Repayment. The Administrative Agent shall be satisfied that, simultaneously with the borrowing of the Tranche C Term Loans on the Restatement Effective Date and after giving effect to any conversion of Tranche B Term Loans into Tranche C Term Loans pursuant to Section 2.2(b), the Tranche B Term Loans will be repaid in full by the Borrowers.
Tranche B Repayment. By sixteen (16) consecutive quarterly Repayment Instalments each in the sum of one million three hundred thousand Dollars ($1,300,000) followed by sixteen (16) consecutive quarterly Repayment Instalments each in the sum of eight hundred and twenty five thousand Dollars ($825,000). The first Repayment Date for each Tranche shall be the date which is three calendar months after the Advance Date for that Tranche and subsequent Repayment Dates shall be at consecutive intervals of three calendar months thereafter. A balloon payment of the lesser of sixteen million Dollars ($16,000,000) and the unpaid principal amount of each Tranche (“the Balloon”) shall be payable together with the thirty second and final Repayment Instalment of each Tranche. In any event each Tranche shall be repaid in full on or before the date falling eight (8) years after the Advance Date for that Tranche.
Tranche B Repayment. Contributor shall pay all amounts incurred, used, or disbursed for the benefit of the Contributor, or applied to Contributor obligations, consistent with and not to exceed the Tranche B (as defined in the term sheet and subsequent loan documents). Any Tranche B amounts drawn and then unpaid before the maturity date for Tranche B as defined in the loan documents are subject to the remedies under Section 4 below. For the avoidance of doubt, the Contributor’s repayment obligation includes all amounts resulting from the Tranche B borrowing, inclusive of fees, costs, interest, principle, and all other amounts incurred or accrued as a direct or indirect result of the Tranche B borrowing. It is the intention of the parties that the Tranche B borrowing will be at no cost or expense to the Operating Partnership.
Tranche B Repayment. The Borrower shall repay the outstanding Tranche B Advances in accordance with Clause 7.3 (Mandatory Prepayment), and in any event as follows:
(a) 50% of the outstanding Tranche B Advances shall be repaid no later than 31st December, 2010; and
(b) the remaining 50% of the outstanding Tranche B Advances shall be repaid on the Final Maturity Date. In the event that the Borrower is required to repay amounts in accordance with paragraph (a) above, such repaid amounts shall be attributed pro rata to the Equity Contributions outstanding at such time.