Refinancing Tranche definition

Refinancing Tranche shall have the meaning assigned to such term in Section 2.7(a).

Refinancing Tranche means the first Utilization of the Facility, which shall be applied by the Borrower towards repayment of the Refinanced Facility.

Refinancing Tranche means a tranche of the Total Commitment and the Loan of up to $65,000,000, being a borrowing thereof made or (as the context may require) to be made available to the Borrowers for the purpose of refinancing in full the Existing Indebtedness and providing the Borrowers with general working capital, or (as the context may require) means the principal amount thereof outstanding at any relevant time;

Examples of Refinancing Tranche in a sentence

• Election [Check ONLY ONE of the two boxes below]: x CASHLESS SETTLEMENT OPTION: By checking this box, the undersigned Tranche B Term Lender hereby consents to the Amendment and agrees to exchange (on a cashless basis) 100% of the outstanding principal amount of its Existing Tranche B Term Loans (or such lesser amount allocated to such Tranche B Term Lender by the Administrative Agent) for Exchanged Refinancing Tranche B Term Loans in an equal principal amount.

• Voluntary prepayments of the New Refinancing Tranche B Term Loans are permitted at any time, in minimum principal amounts, without premium or penalty, subject to a 1.00 percent premium payable in connection with certain repricing transactions within the first six months after the Amendment.

• The New Refinancing Tranche B Term Loans will be secured by the same collateral and guaranteed by the same guarantors as the existing term loans under the Credit Agreement.

• The New Refinancing Tranche B Term Loans will, like the Existing Tranche B Term Loans under the Existing Credit Agreement, mature on June 30, 2023.

• The proceeds of the New Refinancing Tranche B Term Loans advanced by the new lenders were used to prepay in full all of the Existing Tranche B Term Loans that were not converted into New Refinancing Tranche B Term Loans.

• The other terms of the New Refinancing Tranche B Term Loans are also generally the same as the terms of the Existing Tranche B Term Loans under the Existing Credit Agreement.

• By checking this box, the undersigned Tranche A Term Lender hereby consents to the Amendment and agrees to exchange (on a cashless basis) 100% of the outstanding principal amount of its Existing Tranche A Term Loans (or such lesser amount allocated to such Tranche A Term Lender by the Administrative Agent) for Exchanged Refinancing Tranche A Term Loans in an equal principal amount.

• The proceeds of any Refinancing Tranche shall be used to repay Loans of such Class on a pro rata basis.

• Upon receipt of such notice, the Administrative Agent shall promptly notify each Term Lender (other than the Incremental Tranche B-3 Term Lenders, the Refinancing Tranche B-4 Term Lenders and the Refinancing Tranche B-5 Term Lenders) thereof.

• Each Refinancing Tranche of Credit Agreement Refinancing Indebtedness incurred under this Section 2.16(a) shall be in an aggregate principal amount that is (x) not less than $25,000,000 and (y) an integral multiple of $1,000,000 in excess thereof.