Term Loan Tranche 2 definition

Term Loan Tranche 2 has the meaning set forth in Section 2.1(a)(i)(B).
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Term Loan Tranche 2 means a credit extension of up to Ten Million Dollars ($10,000,000).
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Term Loan Tranche 2 means one or more further disbursements of Term Loan(s) in the aggregate amount not to exceed $10,000,000 which shall be funded, if at all, pursuant to and in accordance with the terms and conditions set forth in Section 2.1(a) and elsewhere in this Agreement.
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Examples of Term Loan Tranche 2 in a sentence

  • The Term Loan Tranche 2 may be funded on a Business Day occurring on or after the Term Loan Tranche 2 Activation Date and on or prior to the Term Loan Tranche 2 Commitment Termination Date in multiple advances in an aggregate amount not to exceed the Term Loan Tranche 2 Commitment, but no advances under the Term Loan Tranche 2 shall be made after the Term Loan Tranche 2 Commitment Termination Date.

  • Each such Lender’s obligation to fund the Term Loan Tranche 2 shall be limited to such Lender’s Term Loan Tranche 2 Commitment Amount, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded.

  • Unless previously terminated, upon the Term Loan Tranche 2 Commitment Termination Date, the Term Loan Tranche 2 Commitment shall thereupon automatically be terminated and the Term Loan Tranche 2 Commitment Amount of each Lender as of such date shall be reduced by such Lender’s Pro Rata Share of such total reduction in the Term Loan Commitments.

  • Borrowers shall use the proceeds of any Term Loan Tranche 2 borrowing solely for (a) transaction fees incurred in connection with the Financing Documents, and (b) working capital needs and general corporate purposes of the Borrowers are their Subsidiaries.

  • Lenders shall have no obligation to make any advance of the Term Loan Tranche 2 that is less than $5,000,000 in the aggregate with respect to all such Lenders (other than any final disbursement) and Lenders shall have no obligation to make any more than five (5) advances of the Term Loan Tranche 2.