Tranche A Term Loan definition
Examples of Tranche A Term Loan in a sentence
The Lenders and their Affiliates shall have received for their own account, the Closing Fee and all fees, costs and expenses due and payable pursuant to Section 13.03 after deducting therefrom the Expense Deposit (which Closing Fee and such fees, costs and expenses may be paid out of the proceeds of the Tranche A Term Loan advanced by the Lenders on the Closing Date).
Each Term Lender (i) having a Tranche A Term Loan Commitment will make the amount of its pro rata share of the Tranche A Term Loan Commitments available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Section 10.2 prior to 10:00 A.M., New York City time, on the Closing Date in funds immediately available to the Administrative Agent.
On the Closing Date (after giving effect to the incurrence of Tranche A Term Loans on such date), the Tranche A Term Loan Commitment of each Lender shall automatically terminate.
No Lender shall have an obligation to make a Tranche A Term Loan in excess of such Lender’s Tranche A Term Loan Commitment.
Each Lender’s Tranche A Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such ▇▇▇▇▇▇’s Tranche A Term Loan Commitment on such date.