Incremental Tranche definition

Incremental Tranche has the meaning specified in Section 2.16(a).
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Incremental Tranche shall have the meaning given to such term in Section 2.10 hereof.
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Examples of Incremental Tranche in a sentence

  • The Borrowers may make a maximum of three requests for an Incremental Revolving Commitment or Incremental Tranche prior to the Maturity Date.

  • Each Term Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Term Loans or participate in the Incremental Tranche and, if so, whether by an amount equal to, greater than, or less than its ratable portion (based on such Term Lender’s Applicable Percentage in respect of the Term Facility) of such requested increase.

  • If the Term Loans are increased or an Incremental Tranche is added in accordance with this Section, the Administrative Agent and the Borrowers shall determine the effective date (the “Term Increase Effective Date”) and the final allocation of such increase.

  • The Administrative Agent shall promptly notify the Borrowers and the Term Lenders of the final allocation of such increase or Incremental Tranche and the Term Increase Effective Date.

  • Each Borrowing of Incremental Tranche B Term Loans under this Agreement shall be granted by the Lenders pro rata on the basis of their then-applicable Incremental Tranche B Term Loan Commitments.

  • Borrower hereby certifies to the Administrative Agent and the Lenders that the obligations of the Borrower set forth in the Credit Agreement, as modified by this Amendment, other than the Incremental Tranche A Term Loan, the Tranche B-1 Term Loan and Tranche B-2 Term Loan, qualify as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

  • The Borrowers will use the proceeds of Incremental Tranche Loans solely for the general corporate purposes of the Parent and its Subsidiaries.

  • Each prepayment of the outstanding Term Loans pursuant to this Section 2.05(a) shall be applied to the Term Facility and any Incremental Tranche, as the Borrowers may elect and, within such tranche, in direct order of maturity to the principal repayment installments thereof, (unless otherwise directed by the Lead Borrower), each such prepayment shall be paid to the Lenders in accordance with their respective Applicable Percentages in respect of each of the relevant Facilities.

  • As long as (i) any Revolving Commitment, (ii) any Revolving Exposure or (iii) any Term Loan (excluding any Incremental Tranche B-1 Term Loan) remains in effect, the Borrower will not permit the First Lien Indebtedness Ratio on any date to exceed 4.00 to 1.00, without the consent of the Specified Majority Lenders.

  • Once advanced, Incremental Tranche B Term Loans shall be aggregated with Tranche B Term Loans and all such Loans shall be referred to as Tranche B Term Loans.

Related to Incremental Tranche

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Incremental Term Loan has the meaning set forth in Section 2.14(b).

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Incremental Term Loan Lender shall have the meaning provided in Section 2.15(b).

  • Incremental Term Lenders (a) on any Increased Facility Activation Date relating to Incremental Term Loans, the Lenders signatory to the relevant Increased Facility Activation Notice and (b) thereafter, each Lender that is a holder of an Incremental Term Loan.

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

  • Incremental Term Lender means a Lender with an Incremental Term Loan Commitment or an outstanding Incremental Term Loan.

  • Incremental Term Loan Commitments has the meaning set forth in Section 2.24.

  • Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

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

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Incremental Term Loan Note means a promissory note made by the Borrower in favor of an Incremental Term Lender evidencing the Incremental Term Loans made by such Incremental Term Lender, and any amendments, supplements and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Incremental Term Loan Installment Date shall have, with respect to any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the meaning assigned to such term in Section 2.10(a)(ii).

  • Incremental Term Note means a promissory note made by the Borrower in favor of an Incremental Term Lender evidencing Incremental Term Loans made by such Lender, substantially in the form of Exhibit B-2.

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • Incremental Term Loan Amendment has the meaning assigned to such term in Section 2.20.

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Supplemental Transfer Date For any Supplemental Transfer Agreement, the date the related Supplemental Mortgage Loans are transferred to the Trust Fund pursuant to the related Supplemental Transfer Agreement.

  • Incremental Term Borrowing means a Borrowing comprised of Incremental Term Loans.

  • Incremental Term Maturity Date means, with respect to Incremental Term Loans of any Series, the scheduled date on which such Incremental Term Loans shall become due and payable in full hereunder, as specified in the applicable Incremental Facility Agreement.

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