Tranche 2 Term Loan Advance definition

Tranche 2 Term Loan Advance means an Advance in an aggregate amount not to exceed $10,000,000 subject to Borrower’s achievement of the Tranche 2 Milestone and approval by Agent’s investment committee, such approval to be granted or withheld in its sole discretion.
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Tranche 2 Term Loan Advance has the meaning assigned to such term in Section 2.2(a)(ii).
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Examples of Tranche 2 Term Loan Advance in a sentence

  • Each Tranche 2 Term Loan Advance hereunder shall consist of Tranche 2 Term Loans made from the several Tranche 2 Term Loan Lenders ratably according to their Pro Rata Shares on the funding date for each such Advance.

  • The aggregate outstanding Tranche 2 Term Loan Advance may not exceed $10,000,000.

  • If the Tranche 2 Term Loan Advance is drawn before Borrower achieves Performance Milestone I, the principal balance of the Tranche 2 Term Loan Advance shall bear interest thereon from such Advance Date at the Tranche 1 Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.

  • The issues relating to the private ownership of the right to mine on one’s own land and the control of the right to mine and the mining industry by the State are evident throughout the period.

  • Subject to the terms and conditions of this Agreement and Borrower’s prior receipt of the Tranche 2 Term Loan Advance, beginning on the date Borrower achieves Performance Milestone I and continuing through March 31, 2019, Borrower may request and Lender will make a Term Loan Advance of $3,000,000 (the “Tranche 3 Term Loan Advance”).

  • Subject to Section 1.3(c), the outstanding principal amount of any Tranche 2 Term Loans shall accrue interest commencing on the date of each respective Eligible LPA Event corresponding to a Tranche 2 Term Loan Advance, notwithstanding the date of such Credit Extension, at a fixed rate per annum equal to fourteen percent (14.0%), which interest shall be payable in accordance with Section 1.3(a).

  • Subject to the terms and conditions of this Agreement, beginning on the date Borrower achieves the Availability Milestone and continuing through December 15, 2017, Borrower may request Term Loan Advances in an aggregate amount up to $10,000,000 in minimum increments of $1,000,000 (each, a Tranche 2 Term Loan Advance).

  • Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Closing Date, to the extent Borrower draws the Tranche 2 Term Loan Advance.

  • If the Tranche 2 Term Loan Advance is drawn after Borrower achieves Performance Milestone I, the principal balance of the Tranche 2 Term Loan Advance shall bear interest thereon from such Advance Date at the Tranche 3 Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.

Related to Tranche 2 Term Loan Advance

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

  • Tranche B Term Loan as defined in Section 2.1.

  • Tranche B Term Loan Facility as defined in the definition of “Facility” in this Section 1.1.

  • Tranche C Term Loan as defined in Section 2.1.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Tranche B Term Loan Lender each Lender that has a Tranche B Term Loan Commitment or is the holder of a Tranche B Term Loan.

  • Tranche B Term Loans means the Loans made by Lenders to Company pursuant to subsection 2.1A(ii).

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche A Term Loan Lender each Lender that has a Tranche A Term Loan Commitment or is the holder of a Tranche A Term Loan.

  • Tranche A Term Loan Commitment means the commitment of a Lender to make or otherwise fund the Tranche A Term Loan and “Tranche A Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of the Tranche A Term Loan Commitments as of the Closing Date is $5,000,000.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

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

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

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

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

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

  • Tranche A Term Loan as defined in Section 2.1.

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

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • 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.

  • New Term Loan Facility means the facility providing for the Borrowing of New Term Loans.

  • Aggregate Term Loan Commitment means the combined Term Loan Commitments of the Lenders, which shall initially be in the amount of $90,000,000, as such amount may be adjusted as permitted by this Agreement.

  • Tranche B Term Lender means a Lender with a Tranche B Term Commitment or an outstanding Tranche B Term Loan.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.