Examples of Tranche A Availability Period in a sentence
Any unfunded Tranche A Term Loan Commitments shall terminate at 5:00 p.m. New York City time on the last day of the Tranche A Availability Period and any unfunded Tranche B Term Loan Commitments shall terminate at 5:00 p.m. New York City time on the last day of the Tranche B Availability Period.
The obligation of the Lender to make the Tranche A Loan available to the Borrower, and the right of the Borrower to make the Borrowing of the Tranche A Loan, are subject to having been fulfilled or considered fulfilled, within the Tranche A Availability Period and previously to the Borrowing (or simultaneously to the Borrowing, if so indicated in this section), the conditions precedent and other requirements mentioned in this section, in a reasonably form and substance acceptable to the Lender.
Therefore, the Lender will not have any obligation to disburse any balance (if any) of the Commitment corresponding to the Tranche A Loan, which the Borrower has not drawn down during the Tranche A Availability Period.
The Tranche A Unused Commitment Fee shall be payable in arrears on the first Business Day immediately following the end of each calendar quarter, commencing on July 1, 2024, and on the last day of the Tranche A Availability Period for any period then ending for which the Tranche A Unused Commitment Fee shall not have previously been paid.
The Borrowing of the Tranche A shall cease without any responsibility to the Lender once the Tranche A Availability Period has concluded.