Tranche C. The Borrower may not deliver a Drawdown Notice if as a result of the proposed Advance more than three Tranche C Advances would be outstanding.
Tranche C. The Borrower must pay to the Facility Agent on account of the Financiers proportionally to their respective Tranche C Commitments an unused commitment fee in US Dollars at a per annum rate equal to 30% of the Margin on the daily unutilised balance of the Tranche C Commitment. This fee:
Tranche C. Each Tranche C Lender severally agrees, on the terms and conditions hereinafter set forth, to make Tranche C Revolving Credit Advances denominated in Euros to any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an amount (determined by reference to the Equivalent of Euros in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed such Lender’s Unused Tranche C Commitment. Each Revolving Credit Borrowing under the Tranche C Facility shall be in an amount not less than the Revolving Credit Borrowing Minimum or the Revolving Credit Borrowing Multiple in excess thereof and shall consist of Eurocurrency Rate Advances in the same currency made on the same day by the Lenders ratably according to their respective Tranche C Revolving Credit Commitments. Within the limits of each Lender’s Tranche C Revolving Credit Commitment, any Borrower may borrow under this Section 2.01(a)(iii), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a)(iii).
Tranche C. As a condition precedent to the Initial Disbursement Date pursuant to Section 6.02(m) of the Credit Agreement, each Pledgor agrees, on a several basis, to procure, provide and maintain in full force and effect one or more Equity Letters of Credit in an amount equal to its Tranche C Loan Commitment (if any), as the same may be revised from time to time pursuant to any assignments of the Tranche C Loan Commitments made in accordance with Section 11.06(b) of the Credit Agreement.
Tranche C. With respect to the Outstanding Tranche C Participation Amounts, during all periods, whether prior to, on or after the Completion Date, (i) 1.80% per annum with respect to the LIBOR Rental Rate, or (ii) 0% per annum with respect to the Alternate Rental Rate; provided, however, that each Applicable Margin set forth in subparagraphs (a)(i), (b) and (c) of this definition shall be increased by two percent (2.0%) per annum on the date an Event of Default occurs and shall continue at such increased rate unless and until such Event of Default is waived in accordance with the Operative Documents.
Tranche C. Each Tranche C Lender severally agrees to make Loans, from time to time during the Commitment Period, in an aggregate principal amount not to exceed the Tranche C Commitment Amount of such Lender, to be used as provided in Section 2.2(c) (each such Loan, a "Tranche C Loan" and, collectively, the "Tranche C Loans").
Tranche C. The Tranche C Borrower may not deliver a Utilisation Request unless the Facility Agent has notified the Tranche C Borrower that the Facility Agent has received all of the documents and evidence listed in Part I C of Schedule 2 (Conditions precedent), (save for such documents and evidence that is only required in relation to Tranche A) in form and substance satisfactory to the Facility Agent acting on the instructions of the Majority Tranche C Lenders (each acting reasonably). The Facility Agent shall give this notice promptly upon being so satisfied.
Tranche C. The obligation of the Lender to make the Loan under Tranche C is subject solely to the satisfaction or waiver of each of the following conditions:
Tranche C. On the third anniversary of the Effective Date, $ (“Tranche C”) shall be multiplied by the Target Value Adjustment percentage under Exhibit A, determined with reference to the calculated Share Price on such anniversary date to establish the adjusted value of Tranche C (“Tranche C Adjusted Value”). The adjusted values so determined shall accumulate (without interest) over the period ending on the third anniversary of the Effective Date and shall be payable to the Executive in one cash payment in accordance with Section 3, provided the vesting requirements under Section 4 have been satisfied at that time.
Tranche C. (a) Subject to the terms of this Agreement, the Lenders make available Tranche C of the Facility to Borrower C in respect of Vessel C in an amount not exceeding the aggregate of the Commitments applicable to Tranche C.
