Third Advance definition

Third Advance in relation to the Andros Ship and the Andros Tranche, means the Andros Third Advance;

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Third Advance means the third Advance to be made by the Lenders severally to the Borrower in the principal amount of US$5,000,000 (the "Third Advance Commitment") in accordance with this Agreement, as such amount may be amended from time to time in accordance herewith;

Third Advance has the meaning specified in Section 2.01(c).

Examples of Third Advance in a sentence

The obligation of the Bank to make available the Third Advance in respect of any Ship shall be subject to the condition that the Bank or its duly authorised representative shall have received, on or prior to the drawdown of the relevant Third Advance, the relevant documents and evidence specified in Part 4 of schedule 2 in respect of such Ship, in form and substance satisfactory to the Bank.
Each of the Initial Advance, the Second Advance and the Third Advance are incorporated into the Principal amount borrowed by the Borrower from the Lender.
To the extent that Borrower does not satisfy the conditions set forth in Section 3.1.2 above to Lender making the Second Advance, but satisfies the conditions set forth in this Section 3.1.3 to Lender making the Third Advance, the amount advanced by Lender in connection with the Third Advance shall include the amount not previously advanced by Lender in connection with the Second Advance.
The obligation of the Bank to make available the Third Advance in respect of a Ship shall be subject to the condition that the Bank or its duly authorised representative shall have received, on or prior to the drawdown of the relevant Third Advance, the relevant documents and evidence specified in Part 4 of schedule 2 in respect of such Ship, in form and substance satisfactory to the Bank.
The obligation of the Bank to make available the Third Advance in respect of any Newbuilding shall be subject to the condition that the Bank or its duly authorised representative shall have received, on or prior to the drawdown of the relevant Third Advance, the relevant documents and evidence specified in Part 4 of schedule 2 in respect of such Newbuilding, in form and substance satisfactory to the Bank.

More Definitions of Third Advance

Third Advance means the third Advance under the Note, which shall be made in accordance with, and subject to the conditions of, Section 2.2 and Section 4.2.

Third Advance in relation to the Santon Ship and the Santon Tranche, means the Santon Third Advance; or

Third Advance. The third installment of the Loan funded by the Lender in the amount of Two Hundred Fifty Thousand Dollars ($250,000).

Third Advance has the meaning set forth in Section 2.

Third Advance is hereby changed to "fourth Advance."

Third Advance shall have the meaning assigned to such term in the definition of Subsequent Funding Date.

Third Advance in relation to the Amorgos Ship and the Amorgos Tranche, means the Amorgos Third Advance;