Tranche 8 definition

Tranche 8 means the amount of up to [**] or the Equivalent Amount thereof to be applied in payment of the tenth pre-redelivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;

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Tranche 8 means those shares of Common Stock actually issued to Cayman 4 and/or Cayman 5 pursuant to Section 8.2.1(a) of the Option Agreement.

Tranche 8 means the Tranche 8 Value Payment pursuant to section 4.2(1)(i);” (d) Section 1.1(147) of the Option Agreement is amended by replacing the definition of "Tranche 6 Payment Date" with the following:

Examples of Tranche 8 in a sentence

• The Tranche 8 Term Loan Commitment of each Tranche 8 Term Loan Lender shall reduce and be automatically terminated on a dollar-for-dollar basis (i) concurrently with such Tranche 8 Term Loan Lender making any Tranche 8 Term Loan and (ii) to the extent required under Section 2.7(d)(i).

• The Borrower may exercise such right only by executing and delivering to the Administrative Agent at least 30 days but not more than 120 days prior to the current Tranche 8 Term Loan Termination Date, a written request for such extension (a “Tranche 8 Term Loan Extension Request”).

• All accrued Facility Fees or Ticking Fees, as applicable, shall be payable on the effective date of any termination of Revolving Commitments or Tranche 8 Term Loan Commitments, as applicable.

• If the Borrower exercises its right to extend the Tranche 8 Term Loan Termination Date in accordance with Section 2.23(b), the Borrower shall pay to the Administrative Agent for the account of each Tranche 8 Term Loan Lender a fee equal to 0.20% of the amount of such Tranche 8 Term Loan Lender’s outstanding Tranche 8 Term Loans.

• Such fee shall be payable in arrears beginning on the first Business Day of the first full fiscal quarter of the Borrower ending after the Effective Date, and then on the first Business Day of each successive fiscal quarter during such period, and on the earlier of (x) the date the Tranche 8 Term Loans shall be drawn in their entirety (or the commitments in respect thereof reduced to zero) and (y) the Tranche 8 Term Loan Final Availability Date.

• Each Advance of Tranche 8 Term Loans shall be in the minimum amount of $25,000,000 and incremental amounts in integral multiples of $5,000,000.

• The REIT and the Borrower will, and will cause each Subsidiary to, use the proceeds of the Tranche 8 Term Loans solely to (x) pay the purchase price, (y) repay existing Indebtedness and (z) pay related fees and expenses, in each case, in connection with the Life Storage Acquisition.

• Once the foregoing conditions have been satisfied, the Administrative Agent shall promptly notify the Borrower and the Tranche 8 Term Loan Lenders of the new Tranche 8 Term Loan Termination Date.

• The REIT and the Borrower will, and will cause each Subsidiary to, use the proceeds of the Credit Extensions, other than the Tranche 8 Term Loans, for general corporate purposes (including, among others, to refinance certain existing Indebtedness from time to time).

• On or before 9:30 a.m., New York time, on the first (1st) Business Day following the date of this Agreement, the Company shall file a Current Report on Form 8-K describing all the material terms of the transactions contemplated by the Transaction Documents in the form required by the Exchange Act and attaching all the material Transaction Documents (including, without limitation, this Agreement and the form of Note), the “Initial Tranche 8- K Filing”).

More Definitions of Tranche 8

Tranche 8. MEANS THE AMOUNT OF UP TO [***] [CONFIDENTIAL TREATMENT] OR THE EQUIVALENT AMOUNT THEREOF TO BE APPLIED IN PAYMENT OF THE TENTH PRE-REDELIVERY INSTALMENT DUE BY THE BORROWER TO THE BUILDER UNDER THE BUILDING CONTRACT TO BE ADVANCED BY THE LENDERS ON A DRAWDOWN DATE BY WAY OF THEIR CONTRIBUTIONS THERETO;