Tranche 1 Percentage definition

Tranche 1 Percentage means, at any time for each Tranche 1 Lender, the percentage obtained by dividing such Tranche 1 Lender’s Tranche 1 Commitment at such time by the Total Tranche 1 Commitment then in effect, provided that, if the Total Tranche 1 Commitment has been terminated, the Tranche 1 Percentage of each Tranche 1 Lender shall be determined by dividing such Tranche 1 Lender’s Tranche 1 Commitment as in effect immediately prior to such termination by the Total Tranche 1 Commitment as in effect immediately prior to such termination (but also giving effect to any assignments made in accordance with Section 10.04(b) after the date on which the Total Tranche 1 Commitment has terminated).
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Tranche 1 Percentage means with respect to any Tranche 1 Lender at any time, the percentage (carried out to the ninth decimal place) of the aggregate Tranche 1 Commitments represented by such Tranche 1 Lender’s Tranche 1 Commitment at such time; provided that in the case of Section 2.16 when a Defaulting Lender shall exist, “Tranche 1 Percentage” shall mean the percentage of the total Tranche 1 Commitments (disregarding any Defaulting Lender’s Tranche 1 Commitment) represented by such Tranche 1 Lender’s Tranche 1
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Tranche 1 Percentage as to any Bank at any time, the percentage which such Bank's Tranche 1 Commitment then constitutes of the aggregate Tranche 1 Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Bank's Tranche 1 Loans then outstanding constitutes of the aggregate principal amount of the Tranche 1 Loans then outstanding).
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Examples of Tranche 1 Percentage in a sentence

  • Any reduction of the Aggregate Tranche 1 Commitments shall be applied to the Tranche 1 Commitment of each Tranche 1 Lender according to its Applicable Tranche 1 Percentage.

  • The Company shall pay to the Administrative Agent for the account of each Tranche 1 Lender in accordance, subject to adjustment as provided in Section 2.17, with its Applicable Tranche 1 Percentage, in Dollars, a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit.

  • The Administrative Agent will promptly notify each Tranche 1 Lender of its receipt of each such notice in respect of any Tranche 1 Loans, and of the amount of such Tranche 1 Lender’s Applicable Tranche 1 Percentage of such prepayment and will promptly notify each Tranche 2 Lender of its receipt of each such notice in respect of any Tranche 2 Loans, and of the amount of such Tranche 2 Lender’s Applicable Tranche 2 Percentage of such prepayment.

  • Any reduction of the Aggregate Tranche 1 Commitments shall be applied to the Tranche 1 Commitment of each Tranche 1 Lender according to its Applicable Tranche 1 Percentage (other than a reduction pursuant to Section 2.14(f)).

  • As soon as possible following the Effective Date, each Existing Tranche 1 Letter of Credit shall be amended to replace each Original Lender on such Existing Tranche 1 Letter of Credit with each Tranche 1 Lender party to this Agreement on the Effective Date in accordance with each such Tranche 1 Lender’s Tranche 1 Percentage.

  • Immediately upon the issuance of each Letter of Credit, each Tranche 1 Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from such L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Tranche 1 Lender’s Applicable Tranche 1 Percentage times the amount of such Letter of Credit.

  • Immediately upon the making of a Swing Line Loan, each Tranche 1 Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Tranche 1 Lender’s Applicable Tranche 1 Percentage times the amount of such Swing Line Loan.

  • Immediately upon the making of a Swing Line Loan, each Tranche 1 Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Tranche 1 Lender’s Applicable Tranche 1 Percentage times the amount of such Swing Line Loan.

  • As soon as possible following the Restatement Effective Date, each Existing Tranche 1 Several Letter of Credit shall be amended to replace each Existing Lender with each Tranche 1 Lender party to this Agreement at the time of such amendment in accordance with each such Tranche 1 Lender’s Tranche 1 Percentage.

  • Effective on the Effective Date, all references in this Agreement to Schedule 1.01(a) shall, unless specified otherwise, refer to Schedule 1.01(a) attached to this Agreement and the Tranche 1 Percentage Interest or Tranche 2 Percentage Interest, as applicable, of the Banks shall be adjusted to equal the respective percentages set forth on Schedule 1.01(a) attached to this Agreement.