Tranche B definition

Tranche B has the meaning assigned in Section 2.1(c)(i).

Tranche B is defined in Section 2.1.1(a).

Tranche B means the credit facility provided pursuant to Section 2.1 to or for the benefit of the Company by the Banks with a Tranche B Commitment, which such facility shall consist of Loans (and participations in Swingline Loans) in the currencies referenced under the heading “Tranche B” on Schedule 1.1 and shall be in the maximum aggregate amount of the Tranche B Commitments of such Banks, as adjusted from time to time pursuant to the terms hereof.

Examples of Tranche B in a sentence

• On each subsequent Repayment Date, the Borrower shall repay the principal amount of Tranche A in an amount equal to Seven Million Five Hundred Thousand Dollars ($7,500,000) and, in addition to such amount, on each Repayment Date commencing on March 31, 2027, the Borrower shall repay the principal amount of Tranche B in an amount equal to (x) the principal amount of Tranche B outstanding as of March 31, 2027, multiplied by (y) 2.13% (rounded up to the nearest whole number).

• Each Shipbuilding Contract and Refund Guarantee shall, as of any Funding Date of the Tranche B Loan related thereto, be in full force and effect and constitute the legal, valid, binding obligation of each of the parties thereto, enforceable in accordance with its respective terms, and neither party to a Shipbuilding Contract shall, as of such Funding Date, have committed any material breach thereof.

• Prepayments shall be applied pro rata to each Tranche, provided that, at the Borrower’s option, prior to the earlier of (a) the cancellation of Tranche B in full, and (b) the Delivery Date of each Newbuilding Vessel, prepayments may be applied to a single Tranche.

• The Borrower shall apply proceeds of the Loans as follows: (a) with respect to Tranche A, to refinance the Refinanced Indebtedness and for general corporate purposes, and (b) with respect to Tranche B, to make payments to the Shipyard under the Shipbuilding Contracts.

More Definitions of Tranche B

Tranche B means the Equivalent Amount of up to seventy five per cent (75%) of the amount of the Hermes Insurance Premium payable on the later of the First Drawdown Date and the issue of the Hermes Cover to be paid to the Hermes Agent for on-payment to Hermes to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto PROVIDED THAT the amount of this Tranche and the amount of Tranche A shall not when aggregated exceed eighty per cent (80%) of the Hermes Premium;

Tranche B means the amount of up to USD25,000,000, being the aggregate of all of the Advances to be made available by the Lender to the Borrowers to assist Andros in its acquisition of Vessel B or, as the context requires, the amount thereof outstanding from time to time;

Tranche B means that part of the Loan made or to be made available to Borrower B to refinance all or part of the Existing Indebtedness in a principal amount up to the lesser of (i) $42,000,000 and (ii) 55 per cent. of the Initial Market Value of Ship B. "Transaction Document" means:

Tranche B means the aggregate of the Tranche B Commitments.

Tranche B means that part of the Loan made or to be made available to the Borrower B to finance part of the Purchase Price of Ship B in a principal amount of US$16,200,000 (representing 80 per cent. of that Purchase Price).

Tranche B means, at any time, all Tranche B Collateral Loans at such time.

Tranche B means, of the Facility, the revolving credit facility granted hereunder in the relevant Maximum Tranche Amount or (as the context may require) the principal amount thereof for the time being advanced and outstanding under this Agreement;