Tranche 1 definition

Tranche 1. January 1, 2015 through December 31, 2015, which is allotted 25% of the Target Award,

Tranche 1 has the meaning set forth in Section 2.2(a)(i).

Tranche 1 means, in respect of any Financial Year, an amount equal to the lesser of (i) $500,000,000 and (ii) the Adjusted Global Net Income for such Financial Year less the sum of (w) the Sempra Member Group’s Unallocated Preferred Return, plus (x) the RBS Member Group’s Unallocated Preferred Return, plus (y) the Sempra Member Group’s Preferred Return, plus (z) the RBS Member Group’s Preferred Return; provided that, with respect to any Financial Year that is less than twelve (12) calendar months (including for purposes of calculations pursuant to Clause 13.1.3 or 16.3), the amount set forth in clause (i) of this definition shall be Prorated;

Examples of Tranche 1 in a sentence

• If the Tranche 1 First Advance Date has not occurred by the First Advance Longstop Date for Tranche 1, DOE may terminate this Agreement upon no less than ten (10) Business Days’ prior written notice to the Borrower; provided, such notice may not be delivered prior to the First Advance Longstop Date.

• Prior to the Tranche 1 First Advance Date, receipt by DOE of evidence that all existing Indebtedness other than Permitted Indebtedness has been repaid.

• Each Lender’s obligation to make the Tranche 1 Term Loan shall terminate immediately and without further action on the earlier of (a) the applicable Borrowing Date after giving effect to the making of the Tranche 1 Term Loan on such Borrowing Date (if made) or (b) after the lapse of the applicable Draw Period set forth in the Milestone Schedule.

More Definitions of Tranche 1

Tranche 1 means the Equivalent Amount of [**] being the difference between the Equity and the amount of the first pre-redelivery instalment due by the Borrower to the Builder under the Building Contract to be advanced on a Drawdown Date by the Lenders by way of their Contributions thereto;

Tranche 1 means the amount of [**] to be paid to the Guarantor to be applied in repayment of the loan in the same amount made by the Guarantor to the Borrower to enable the Borrower to pay part of the second pre-delivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;

Tranche 1 means the amount of [**] or the Equivalent Amount thereof to be applied in payment of the balance of the third pre-delivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;

Tranche 1 means the Bonds with ISIN SE0013281896, initially allocated to the holders of Previous Bonds as part of the Restructuring.

Tranche 1 means the loan made to the Company by the Lender in separate advances in the aggregate amount of $3,000,000, as evidenced by the Original Note.

Tranche 1 the “first” segment consisting of 2,000,000 shares exercisable under the Series B Warrant as hereby amended.

Tranche 1 warrant shares shall in no event be exercisable after 5:00 p.m., New York Time, November 30, 2015.