Tranche A Revolver Note definition

Tranche A Revolver Note a promissory note to be executed by Borrower in favor of a Tranche A Revolver Lender in the form of Exhibit A-1, which shall be in the amount of such Lender’s Tranche A Revolver Commitment and shall evidence the Tranche A Revolver Loans made by such Lender. Tranche B Accounts Formula Amount: 5% of the Value of Eligible Accounts. Tranche B Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Tranche B Revolver Commitments and (b) the sum of the Tranche B Accounts Formula Amount plus the Tranche B Inventory Formula Amount.
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Tranche A Revolver Note a promissory note to be executed by Borrowers in favor of a Lender in the form of Exhibit A-1, which shall be in the amount of such Lender’s Tranche A Revolver Commitment and shall evidence the Tranche A Revolver Loans made by such Lender.
Sample 1
Tranche A Revolver Note a promissory note to be executed by Borrowers in favor of a Lender in the form of Exhibit A-1, which shall be in the amount of such Lender’s Tranche A Revolver Commitment and shall evidence the Tranche A Revolver Loans made by such Lender. Tranche B Accounts Formula Amount: the Percentage Factor times the Value of Eligible Accounts. The “Percentage Factor” for purposes of this definition shall initially be 5% and shall be reduced by 1/24th on the first Business Day following the end of the twelfth full calendar month after the Amendment No. 1 Effective Date and on the first Business Day following the end of every succeeding calendar month thereafter. Tranche B Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Tranche B Revolver Commitments; or (b) the sum of the Tranche B Accounts Formula Amount plus the Tranche B Inventory Formula Amount. Tranche B Inventory Formula Amount: the sum of (i) the Percentage Factor times (A) the lesser of (1) 65% of the Value of Eligible Finished Goods Inventory and (2) 85% of the NOLV Percentage of the Eligible Finished Goods Inventory; plus (ii) the Percentage Factor times (B) the lesser of (1) 65% of the Value of Eligible Raw Materials Inventory and (2) 85% of the NOLV Percentage of Eligible Raw Materials Inventory; plus (iii) the Percentage Factor times (C) the lesser of (i) 50% of the Value of Work-In-Progress Inventory and (ii) 85% of the NOLV Percentage of Work-In-Progress Inventory. The “Percentage Factor” for purposes of this definition shall initially be 10% and shall be reduced by 1/24th on the first Business Day following the end of the twelfth full calendar month after the Amendment No. 1 Effective Date and on the first Business Day following the end of every succeeding calendar month thereafter. Tranche B Maximum Amount: as of any date of determination, an amount equal to the lesser of (i) the Tranche B Revolver Commitments of all Tranche B Revolver Lenders on such date and (ii) the Aggregate Borrowing Base on such date minus the Tranche A Borrowing Base on such date. Tranche B Revolver Commitment: for any Lender, its obligation to make Tranche B Revolver Loans up to the maximum principal amount shown on Schedule 1.1, or as hereafter determined 38 NAI-1507796678v9
Sample 1

Examples of Tranche A Revolver Note in a sentence

  • At the request of any Tranche A Revolver Lender, Borrower shall deliver a Tranche A Revolver Note to such Lender.

  • At the request of any Lender, Borrowers shall deliver a Tranche A Revolver Note and/or a Tranche A-1 Revolver Note, as applicable, to such Lender.

  • At the request of any Tranche A Revolver Lender, Borrowers shall deliver a Tranche A Revolver Note to such Lender.

  • Notes — each Tranche A Revolver Note, Tranche A-1 Revolver Note or other promissory note executed by a Borrower to evidence any Obligations.

  • Promptly following the request of any Tranche A Revolver Lender, Borrowers shall deliver a Tranche A Revolver Note to such Lender.

  • Failure to make any notation, however, shall not affect the rights of the holder of this Tranche A Revolver Note or any obligations of Borrowers hereunder or under any other Loan Documents.

  • Notes - each Tranche A Revolver Note, Tranche A-1 Revolver Note or other promissory note executed by a Borrower to evidence any Obligations.

  • Principal of and interest on this Tranche A Revolver Note from time to time outstanding shall be due and payable in such amounts and on such dates as provided in the Loan Agreement.

  • Upon the request of any Increasing Lender, the Borrowers shall issue a Tranche A Revolver Note payable to the order of such Increasing Lender in a principal amount equal to the amount of its Tranche A Revolver Commitment.

  • In no event whatsoever shall the amount paid or agreed to be paid to the holder of this Tranche A Revolver Note for the use, forbearance or detention of money advanced hereunder exceed the highest lawful rate permitted under Applicable Law.

Related to Tranche A Revolver Note

  • Revolver Note means any one of such Revolver Notes.

  • Revolver Notes means the promissory notes of the Borrower, substantially in the form of Exhibit B-1 hereto, evidencing the obligation of the Borrower to repay the Revolver Advances, together with all amendments, consolidations, modifications, renewals, substitutions and supplements thereto or replacements thereof and “Revolver Note” means any one of such Revolver Notes.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

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

  • Tranche A Note means a promissory note of the Borrower payable to the order of any Tranche A Bank, in substantially the form of Exhibit A-1 hereto, evidencing the aggregate indebtedness of the Borrower to such Tranche A Bank resulting from Tranche A Advances.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • Tranche A Facility means the aggregate of the Tranche A Commitments.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Tranche B Note means a promissory note of the Borrower payable to any Tranche B Lender and its registered assigns, delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit A-3 hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Tranche B Loans made by such Lender to the Borrower.

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

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

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Tranche A Commitment means, with respect to each Lender, the -------------------- commitment, if any, of such Lender to make Tranche A Term Loans hereunder, expressed as an amount representing the maximum principal amount of the Tranche A Term Loans to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.06 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender's Tranche A Commitment is set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender shall have assumed its Tranche A Commitment, as applicable. The initial aggregate amount of the Lenders' Tranche A Commitments is $175,000,000.

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

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

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Unutilized Revolving Loan Commitment means, with respect to any Lender at any time, such Lender’s Revolving Loan Commitment at such time less the sum of (i) the aggregate outstanding principal amount of all Revolving Loans made by such Lender at such time and (ii) such Lender’s RL Percentage of the Letter of Credit Outstandings at such time.

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • 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.