Examples of Tranche 1 Termination Date in a sentence
From and after the Tranche 1 Termination Date, all outstanding Tranche 1 Letters of Credit shall be secured in accordance with Section 3.8(c).
If no Extension occurs, the then current Tranche 1 Termination Date of the Lenders who are not already Non-Electing Lenders will, subject to Section 3.4(e), continue for each such Tranche 1 Lender and each such Lender’s Individual Tranche 1 Commitment Amount will remain available for Drawdown in accordance with Section 6.6 until the Tranche 1 Termination Date; provided that the Borrower may again make an Extension Request during the next calendar year in accordance with Section 3.4(a).
The Tranche 1 Lenders, on a several basis, hereby establish Tranche 1 in favour of the Borrower in an amount of up to the Tranche 1 Commitment Amount as set forth in Schedule B, which may be drawn by the Borrower in Canadian Dollars or the Canadian Dollar Exchange Equivalent thereof in U.S. Dollars, or any combination thereof, until the Tranche 1 Termination Date.
If the Borrower accepts all such conditions or amendments requested by the Electing Lenders, the Tranche 1 Termination Date with respect to the Electing Lenders will be deemed to have been extended for that period of time set out in the Extension Notice and, subject to Section 3.4(e), the Tranche 1 Termination Date with respect to the Non-Electing Lenders shall not be extended.
Whenever any payment to be made hereunder or on the Notes shall be stated to be due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day (provided, however, that any such payment that is stated to be due on the Tranche 1 Termination Date shall be made on the next preceding Business Day) and, in the case of a payment of principal, such extension or shortening of time shall be taken into account in the computation of any interest thereon.
Each such Tranche 1 Note shall (x) be dated the Closing Date, (y) be stated to mature on the Tranche 1 Termination Date, and (z) bear interest on the unpaid principal amount thereof from time to time outstanding at the applicable interest rate per annum determined as provided in subsection 2.7.
The foregoing provisions shall apply irrespective of whether any condition precedent to an Advance has been specified, whether any Default or Event of Default has occurred or is continuing or whether any acceleration or any enforcement action (including any termination of the Commitment Amount) has occurred or commenced under the Documents or otherwise or whether the Tranche 1 Termination Date has occurred.
Subject to Section 9.2, on the Tranche 1 Termination Date, each Borrower shall deposit into its Custodial Account additional Eligible Collateral having an aggregate Collateral Value at least equal to the Stated Amount of all Letters of Credit requested by such Borrower outstanding at such time minus the Collateral Value in such Borrower's Custodial Account at such time.
No Letter of Credit will be issued (or will be renewable at the option of the beneficiary thereunder) for a term in excess of one year, will have an expiration date after the Tranche 1 Termination Date, or will require payment in any currency other than Canadian Dollars or U.S. Dollars.
Of the system involvement, mental health was the most utilized, with 93% of youth accessing these services.