Third Tranche definition

Third Tranche has the meaning set out in subsection 4.3(c);

Third Tranche means 18,000 of the Restricted Shares, for which the Performance Condition will be satisfied upon achievement of the Third Stock Price Hurdle;

Third Tranche means 650,000 of the Restricted Shares, for which the Performance Condition will be satisfied upon achievement of the Third Performance Hurdle; and

Examples of Third Tranche in a sentence

• For greater certainty, the said fee is payable whether or not the Third Tranche is advanced.

• Use the proceeds of the Third Tranche for general working capital for the Business and to fund Unfunded Qualified Acquisitions and use the proceeds of the Additional Tranches to fund Qualified Acquisitions.

• Subject to Section 4.3, the principal amount of the Third Tranche and other outstanding Obligations relating to the Third Tranche shall bear interest from the Closing Date to the date paid, at a rate equal to 10.5% per annum compounded quarterly.

• The Borrower will pay to Lender a work fee equal to $100,000 (the “Work Fee”), being 1% of the Third Tranche amount, which will be fully earned and payable at the earlier of August 1, 2017 and the Closing Date.

• With respect to the Third Tranche and any Additional Tranches, interest shall be determined daily and compounded quarterly not in advance, both before and after demand, default and judgment and shall be computed on a 360-day basis.

More Definitions of Third Tranche

Third Tranche means the balance of the proceeds of the Loan remaining in the Loan Account after the utilization of the First and Second Tranches to be withdrawn, pursuant to and subject to the provisions of paragraph 7 of Schedule 3 of this Loan Agreement.

Third Tranche means 106,500 of the Restricted Shares (of which 35,500 shall constitute Bonus Restricted Shares), for which the Performance Condition will be satisfied upon achievement of the Third Performance Hurdle; and

Third Tranche means 413,667 of the Restricted Shares, for which the Performance Condition will be satisfied upon achievement of the Third Performance Hurdle; and

Third Tranche has the meaning given to that term in Article 2.2.1 (Tranches).

Third Tranche means the Tranche of the proceeds of the Credit allocated to Category (3) in the table set forth in paragraph 1 of Schedule 1 to this Agreement;

Third Tranche shall have the meaning ascribed to it in the recitals hereof.

Third Tranche means, at any time (a) after the institution of the Third Tranche in accordance with Section 2.13 but prior to the purchase of the Third Tranche Notes, the aggregate amount of the Third Tranche Note Purchase Commitments at such time and (b) thereafter, the aggregate principal amount of the Third Tranche Notes of all Third Tranche Note Purchasers outstanding at such time.