First Disbursement definition

First Disbursement has the meaning set forth in Section 1.2.6.

First Disbursement means the first disbursement of funds from the Escrow Account to the Issuer, in an amount not materially exceeding the aggregate of (i) the purchase price and any related transaction costs in relation to the Acquisition of the first Target Company to be acquired, (ii) the amount of any existing debt of that Target Company to be refinanced with the proceeds of the Notes and (iii) the amount of any existing debt of the Issuer to be refinanced with the proceeds of the Notes.

First Disbursement means the first disbursement of Loan proceeds, to be made upon the fulfillment of the conditions set forth in Section 6.1.

Examples of First Disbursement in a sentence

• The obligation of the Lenders to fund all or any portion of the Loan on the First Disbursement Date shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 5.1 on or prior to the First Disbursement Date.

• The Borrower holds all governmental licenses, permits and other approvals required to conduct its business as conducted by it on the First Disbursement Date, except to the extent the failure to hold any such licenses, permits or other approvals would not have a Material Adverse Effect.

• No authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body or other Person is required for the due execution, delivery or performance by the Borrower of this Agreement or any other Loan Document (except for authorizations or approvals not required to be obtained on or prior to the First Disbursement Date or that have been obtained or actions not required to be taken on or prior to the First Disbursement Date or that have been taken).

• The Issuer has not provided the Agent with evidence, in form and substance satisfactory to the Agent (acting reasonable), showing (i) that the Conditions Subsequent for the First Disbursement and the Conditions Subsequent for the Second Disbursement have been fulfilled at the times set forth in Clauses 14 and 16.

• The Facility Agent shall advise the Lenders of the satisfaction of the conditions precedent set forth in this Section 5.1 prior to funding on the First Disbursement Date.

More Definitions of First Disbursement

First Disbursement has the meaning given to it in Section 5.3(b)(i) of Schedule “A”.

First Disbursement has the meaning given to it in Section 5.3 of Schedule “A”. First Disbursement Top-up has the meaning given to it in Section 5.4(b)(ii)(B) of Schedule “A”. First Nation and Métis Community means, for the purposes of the ECB Program, a First Nation in Ontario that is a “band” as defined in the Indian Act, RSC 1985, c. I-5; the Métis Nation of Ontario or any of its active Chartered Community Councils; or a Person, other than a Natural Person, that has previously been determined by the Government of Ontario to represent the collective interests of a community that is composed of Aboriginal Natural Persons in Ontario or composed of Métis Natural Persons in Ontario. a Person, other than a Natural Person, that is determined by the Government of Ontario for the purposes of one or more of the Support Programs to represent the collective interests of a community that is composed of Aboriginal Natural Persons in Ontario or composed of Métis Natural Persons in Ontario.

First Disbursement means the date on which the first disbursement is made from the Term Loan Facility Disbursement Account.

First Disbursement has the meaning given to it in Section 5.3(b)(i) of Schedule “A”. First Nation and Métis Community means, for the purposes of Identified Transmission Projects, a First Nation in Ontario that is a “band” as defined in the Indian Act, RSC 1985, c. I-5, or the Métis Nation of Ontario or any of its active Chartered Community Councils; and for all other purposes has the meaning given to it in the FIT Definitions.

First Disbursement means the first disbursement from the Escrow Account in an amount sufficient for full repayment of the Existing Debt in accordance with paragraph (a) (i) of Clause

First Disbursement has the meaning given in § 5.

First Disbursement means the disbursement of the amount of USD 11,000,000 (Eleven Million U.S. Dollars) of the Loan, to be made by the Bank in favor of the Borrower, subject to the conditions precedent as set out in Section 3.02.