Tranche C definition

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

Tranche C 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 Antiparos in its acquisition of Vessel C or, as the context requires, the amount thereof outstanding from time to time;

Tranche C means the aggregate of the Tranche C Commitments.

Examples of Tranche C in a sentence

• By choosing this option, each undersigned Existing Tranche B Term Lender hereby acknowledges and agrees that the Administrative Agent may, in its sole discretion, elect not to allocate Tranche C Term Loans to such Existing Tranche B Term Lender or to allocate less than 100% of the principal amount of such Existing Tranche B Term Lender’s Tranche B Term Loans in Tranche C Term Loans.

• The undersigned Existing Tranche B Term Lender hereby irrevocably and unconditionally approves of, and consents to, the Amendment and having 100% of the outstanding principal amount of the Tranche B Term Loans held by such Existing Tranche B Term Lender repaid on the Fifth Amendment Effective Date and to purchase by assignment Tranche C Term Loans in a like principal amount.

• By choosing this option, each undersigned Lender hereby acknowledges and agrees that the Administrative Agent may, in its sole discretion, elect not to allocate to such Lender or to allocate less than 100% of the principal amount of such Lender’s Tranche B Term Loans in Tranche C Term Loans.

• The undersigned Existing Tranche B Term Lender hereby irrevocably and unconditionally approves of, and consents to, the Amendment and having 100% of the outstanding principal amount of the Tranche B Term Loans held by such Existing Term Lender repaid on the Second Amendment Effective Date and to purchase by assignment Tranche C Term Loans in a like principal amount.

• The undersigned Existing Tranche C Term Lender hereby irrevocably and unconditionally approves of, and consents to, the Amendment and having 100% of the outstanding principal amount of the Tranche C Term Loans held by such Existing Term Lender repaid on the Third Amendment Effective Date and to purchase by assignment Tranche D Term Loans in a like principal amount.

More Definitions of Tranche C

Tranche C has the meaning specified in Section 2.01(c).

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

Tranche C means that part of the Loan made or to be made available to the Borrowers to enable the Borrowers to refinance the Existing Indebtedness in relation to Ship C and for general corporate and working capital purposes in a principal amount not exceeding 58 per cent. of the Fair Market Value of Ship C.

Tranche C means that part of the Loan made or to be made available to the Borrowers to finance up to 65 per cent. of the Fair Market Value of Ship C.

Tranche C means up to the amount by which the Hermes Insurance Premium is increased after the date on which the seventy five per cent (75%) of the amount of the Hermes Insurance Premium is paid by the Hermes Agent to Hermes or the Equivalent Amount thereof 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 and Tranche B shall not when aggregated exceed eighty per cent (80%) of the Hermes Premium;

Tranche C means the Equivalent Amount of up to the amount by which the Hermes Insurance Premium is increased after the date on which the seventy five per cent (75%) of the amount of the Hermes Insurance Premium is paid by the Hermes Agent to Hermes 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 and Tranche B shall not when aggregated exceed eighty per cent (80%) of the Hermes Premium;

Tranche C. That part of the Facility granted to the Borrower pursuant to Clause 2.1.1(c) (Granting of the Facility).