Available Tranche B Facility definition
Examples of Available Tranche B Facility in a sentence
Reduction of Available Commitment If a Bank's Tranche A Commitment or Tranche B Commitment is reduced in accordance with the terms hereof after the Agent has received the Notice of Drawdown for an Advance and such reduction was not taken into account in the Available Tranche A Facility or Available Tranche B Facility, then both the Original EURO Amount and the amount of that Advance shall be reduced accordingly.
Each Tranche B Bank's contingent liability shall be in proportion borne by its Available Tranche B Commitment to the Available Tranche B Facility immediately prior to the acceptance of such Bills by the Canadian Dollar Agent.
The Borrower may, if it gives the Agent not less than 5 Business Days' (or such shorter period as the Majority Lenders may agree) prior written notice, cancel the whole or any part (but, if in part, in a minimum amount of $5,000,000 and, if higher, in integral multiples of $1,000,000) of the Available Facility provided that no amount of the Tranche A Facility may be cancelled while any amount of the Available Tranche B Facility remains undrawn.
The Principal Borrower may, by giving to the Agent not less than fifteen Business Days' prior notice to that effect, cancel the whole or any part (such part being an amount of euro 10,000,000 or more) of the Available Tranche A Facility or Available Tranche B Facility.
B Commitment If a Bank's Available Tranche B Commitment is reduced in accordance with the terms hereof after the Agent has received the Notice of Drawdown for a Tranche B Advance and such reduction was not taken into account in the Available Tranche B Facility, then both the Original USD Amount and the amount of that Tranche B Advance shall be reduced accordingly.