Tranche 1 Advance definition

Tranche 1 Advance has the meaning assigned to such term in Section 2.2(a).
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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 means any Acquisition Facility Advance made based upon a Borrowing Base comprised of 60.01% to 65.00% of Eligible Inventory and Foreign Eligible Inventory and 85% of Eligible Receivables and Foreign Eligible Receivables as provided herein.
Sample 1

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”).

  • The minimum amount of each Subsequent Tranche 1 Advance and each Tranche 2 Advance shall be Two Million Five Hundred Thousand Dollars ($2,500,000).

  • Borrower may prepay the Term Loan Tranche 1 Advance without penalty or premium.

  • 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.

  • The Term Loan Tranche 1 Advance, once repaid, may not be reborrowed.

  • Subject to and upon the terms and conditions of this Agreement, on the Closing Date, Bank agrees to make one (1) Term Loan Tranche 1 Advance to Borrower in an amount equal to the Term Loan Tranche 1.

  • 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.

  • If the Performance Milestone is achieved, for the Tranche 1 Advance and Tranche 2 Advance, the Tranche 1 Additional Interest Only Period and the Tranche 2 Interest Only Period shall be extended to eighteen (18) monthly payments, and the Tranche 1 Amortization Period and the Tranche 2 Amortization Period shall be shortened to twenty-four (24) equal payments of principal and interest.

  • The Tranche 1 Advance shall be used to repay Borrower’s indebtedness to Oxford Finance LLC.


More Definitions of Tranche 1 Advance

Tranche 1 Advance and "Tranche 2 Advance" respectively contained therein and to add the following definitions in lieu thereof:
Sample 1
Tranche 1 Advance means an advance made or to be made by the Banks under Tranche 1.
Sample 1
Tranche 1 Advance has the meaning set forth in Section 2.2(a)(i)
Sample 1
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.
Sample 1
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.
Sample 1

Related to Tranche 1 Advance

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

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

  • 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 has the meaning specified in Section 2.01(c).

  • 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 any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • 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 means a Loan made pursuant to Section 2.01.

  • Equipment Advance is defined in Section 2.1.1.

  • 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).