Accordion Tranche definition

Accordion Tranche has the meaning set forth in Section 2.14(b).
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Accordion Tranche means, following the establishment of an Accordion Facility in accordance with Clause 6 (Establishment of an Accordion Facility), that part of the Loan made or to be made available to the Borrowers to finance the acquisition of an Accordion Ship and for general corporate and working capital purposes in a principal amount not exceeding 58 per cent. of the Fair Market Value of that Accordion Ship.
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Examples of Accordion Tranche in a sentence

  • Each Lender participating in such Accordion Tranche shall maintain, in accordance with its usual practice, an account or accounts evidencing indebtedness of the Borrower to such Lender resulting from such Lender’s share of such Accordion Tranche from time to time, including the amounts of principal, interest or fees payable and paid to such Lender from time to time under this Agreement.

  • If requested by any Lender participating in such Accordion Tranche, the Borrowers shall execute a promissory note with respect to such Lender’s portion of such Accordion Tranche.

  • If requested by any Lender participating in such Accordion Tranche, the Borrower shall execute a promissory note with respect to such Lender’s portion of such Accordion Tranche.

  • Each Lender participating in such Accordion Tranche shall maintain, in accordance with its usual practice, an account or accounts evidencing indebtedness of the Borrowers to such Lender resulting from such Lender’s share of such Accordion Tranche from time to time, including the amounts of principal, interest or fees payable and paid to such Lender from time to time under this Agreement.

  • Any such Conforming Amendment shall not require the consent of any Person other than the increasing and replacing Lenders or Acceding Lenders, as applicable, the Borrowers and the Administrative Agent so long as such Conforming Amendment does not provide for new or amended covenants or events of default applicable to any Accordion Tranche; provided, that upon the execution of any Conforming Amendment, the Administrative Agent shall distribute a copy thereof to all of the Lenders.

  • With respect to each Lender, its Tranche A Commitment, Tranche B Commitment, Tranche C Commitment or its commitment under any Accordion Tranche advanced pursuant to §2.8 from time to time, as the context may require, as set forth from time to time on Schedule 2 hereto, as such Schedule 2 may be updated by the Agent from time to time.

  • The Tranche A Maturity Date, the Tranche B Maturity Date, the Tranche C Maturity Date or the maturity date of any Accordion Tranche advanced pursuant to §2.8, as the context may require.

  • If requested by any Lender participating in such Accordion Tranche, the Borrower shall execute a promissory note with respect to such Lxxxxx’s portion of such Accordion Tranche.

  • If requested by any Lender participating in such Accordion Tranche, the Borrower shall execute a promissory note with respect to such Xxxxxx’s portion of such Accordion Tranche.

Related to Accordion Tranche

  • Existing Tranche has the meaning specified in Section 2.19(a).

  • Incremental Loan Request has the meaning set forth in Section 2.14(a).

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Existing Revolver Tranche has the meaning set forth in Section 2.16(b).

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Tranche C Term Loan Commitment means, with respect to each Tranche C Term Loan Lender, the commitment of such Lender to make Tranche C Term Loans under the Tranche C Term Loan Incremental Facility Agreement.

  • Available Revolving Commitment as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

  • Term A Loan Commitment means, as to each Lender, its obligation to make its portion of the Term A Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Loan Commitments of all of the Lenders as in effect on the Closing Date is $675,000,000.

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Existing Revolving Commitments has the meaning assigned to such term in Section 2.27(a).

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Refinancing Revolving Commitments means one or more Classes of commitments in respect of Revolving Loans hereunder that result from a Refinancing Amendment.

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Incremental Revolving Loan Lender shall have the meaning provided in Section 2.14(b).

  • Incremental Revolving Credit Commitments has the meaning set forth in Section 2.14(a).

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”