Tranche 1 Advance definition

Tranche 1 Advance means an advance by a Lender pursuant to its Tranche 1 Commitment to the Borrower as part of a Borrowing.
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Tranche 1 Advance has the meaning assigned to such term in Section 2.2(a).
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Tranche 1 Advance has the meaning set forth in Section 2.2(a)(i)
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Examples of Tranche 1 Advance in a sentence

  • To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request at least three (3) Business Days before the proposed Advance Date (other than the Tranche 1 Advance to be made on the Closing Date, for which Borrower shall complete, sign and deliver an Advance Request at least one (1) Business Day prior to the Closing Date) to Agent.

  • Beginning on the Closing Date, and continuing through December 15, 2020, Borrower may request additional Term Loan Advances in an aggregate amount up to Fifteen Million Dollars ($15,000,000) in minimum increments of $2,500,000 (each, together with the Initial Tranche 1 Advance, a “Tranche 1 Advance”).

  • Any subsequent Interest Periods in relation to a Tranche 1 Advance shall commence on the expiry of the immediately preceding Interest Period relating thereto and end on the last day of the period so selected or provided therefor.

  • The Tranche 1 Advance, Tranche 2 Advance, and Tranche 3 Advance are each hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”.

  • For the Tranche 1 Advance, Borrower shall make monthly payments of interest only (payable in advance) on the first Business Day of each month after the Funding Date (each, a “Payment Date”) through December 31, 2014 (the “Tranche 1 Interest Only Period”).

  • If the Tranche 1 Advance and the Tranche 2 Advance are fully funded at Closing and are not prepaid prior to the Maturity Date, Agent will credit to Borrower $238,000, such that Borrower’s final payment in full of the Obligations will be reduced by such amount.

  • Borrower may prepay the Tranche 1 Advance in accordance with Section 1.02(e)(i).

  • Subject to the terms and conditions of this Loan Agreement, the Lenders agree to advance to Borrower (the “Tranche 2 Advance”, and together with the Tranche 1 Advance, each an “Advance”) on or within 1 Business Day of Closing, a term loan in an aggregate principal amount of Eight Million Eight Hundred Thousand Dollars ($8,800,000).

  • The Tranche 1 Advance under the Hercules Term Loan Agreement was funded on September 30, 2021.

  • Additionally, each Lender’s Tranche 1 Commitment will be permanently reduced upon such Lender making any Tranche 1 Advance and each Lender’s Tranche 2 Commitment will be permanently reduced upon such Lender making any Tranche 2 Advance, in each case by the amount of such Advance.


More Definitions of Tranche 1 Advance

Tranche 1 Advance means any Acquisition Facility Advance made based upon a Borrowing Base comprised of 60.01% to 65.00% of Eligible Inventory and 85% of Eligible Receivables as provided herein.
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Tranche 1 Advance is defined in Section 2.1.1(a).
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Tranche 1 Advance has the meaning set forth in Section 2.2(a)(i). “Tranche 1 Draw Period” means the period beginning on the date of Xxxxxxxx’s achievement of the VALOR-CKD Milestone and continuing through December 31, 2022. “Tranche 1 Facility Charge” means $62,500 which is payable to Lender in accordance with Section 4.2(f), subject to funding of the Tranche 1 Advance.
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Tranche 1 Advance means the advance by MPT Foothill Lender to Alta Newport in the amount of Fifty- One Million Two Hundred Sixty-Six Thousand Seven Hundred and No/100 Dollars ($51,266,700.00), as evidenced by and further defined in the Foothill Mortgage Loan Note.
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Tranche 1 Advance and "Tranche 2 Advance" respectively contained therein and to add the following definitions in lieu thereof:
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Tranche 1 Advance means an advance made or to be made by the Banks under Tranche 1.
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Related to Tranche 1 Advance

  • Tranche A Advance means an Advance made by a Bank under Tranche A.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Tranche C Loan means an extension of credit by a Lender to TFA under Article II. Except as provided in Section 2.16(c), Tranche C Loans shall be denominated in Australian Dollars.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Revolving Advance has the meaning given in Section 2.1.

  • SOFR Advance means an Advance that bears interest at a rate based on Term SOFR.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Term Loan has the meaning specified in Section 2.01(b).

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Equipment Advance has the meaning set forth in Section 2.1.2.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

Most Referenced Clauses

Most Referenced Definitions