Subsequent Tranche definition
Examples of Subsequent Tranche in a sentence
In furtherance thereof, in the event Borrower has repaid all Conversion Eligible Tranches pursuant to the terms of this Note, it shall have no further obligations to deliver any Installment Amount to Lender unless and until any Subsequent Tranche that was not previously a Conversion Eligible Tranche becomes a Conversion Eligible Tranche pursuant to the terms of this Note.
For the avoidance of doubt, a Conversion Eligible Tranche may be converted in whole or in part at any time subsequent to the first date on which such Subsequent Tranche becomes a Conversion Eligible Tranche.
Lender’s right to convert any portion of any of the Subsequent Tranches is conditioned upon Lender’s payment in full of the Investor Note corresponding to such Subsequent Tranche (upon the satisfaction of such condition, such Subsequent Tranche becomes a “Conversion Eligible Tranche”).
Each Subsequent Tranche of the Time-Vesting RSUs shall be settled in an equal number of shares of Common Stock within 30 days following the applicable vesting date.
Subsequent Tranche G performance calculation periods with respect to any such Tranche G capital account will begin on the first day of each subsequent calendar year following the initial Tranche G performance calculation period.