Tranche C Portion definition

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Tranche C Portion means a loan in the aggregate original principal amount of $500,000 that may be made to the Company by participating Lenders pursuant to and subject to the satisfaction of certain conditions set forth in the Second Amendment represented by the Consideration (Tranche C), with each Lender’s share, if any, of the Tranche C Portion, reflected on such Lender’s Second Amended and Restated Note, if issued.

Tranche C Portion means, (a) with respect to any Advance under a Facility without reference to any Participant, the portion of such Advance equal to the applicable Tranche C

Examples of Tranche C Portion in a sentence

Each Advance shall consist of a Tranche A Portion, a Tranche B Portion and a Tranche C Portion.
For accounting purposes, the Tranche A Portion and Tranche B Portion of each Advance shall constitute debt and the Tranche C Portion shall constitute equity.
Lessor shall share each payment applied to the Interest Component of Base Rent under a Facility among the Participants which funded the Outstanding Lease Amount under such Facility pro rata within the Tranche A Portion, Tranche B Portion and the Tranche C Portion, respectively, according to (i) the respective Outstanding Participation Amounts so funded by such Participants and (ii) the dates on which such Participants so funded such amounts.
To the extent that the notice referenced in this Section 4.2(a) is not received, then each Lender may elect in its sole discretion whether to acquire its share of the Tranche C Portion set forth on Exhibit 3 annexed hereto.
Each Lender purchasing a share of the Tranche B Portion shall be entitled to acquire the share of the Tranche C Portion of any other Lender that elects not to purchase its share of the Tranche C Portion as set forth on Exhibit 3 annexed hereto, divided pro rata, on the basis of each Lender’s share of the Tranche B Portion, in the event that one or more Lenders wish to purchase the non-purchasing Lender’s share of the Tranche C Portion.
Lessor shall share each payment applied to the Interest Component of Base Rent among the Participants which funded the Outstanding Lease Amount pro rata within the Tranche A Portion, Tranche B Portion and the Tranche C Portion, respectively, according to (i) the respective Outstanding Participation Amounts so funded by such Participants and (ii) the dates on which such Participants so funded such amounts.
For accounting purposes, the Tranche A Portion and the Tranche B Portion of each Advance shall constitute debt and the Tranche C Portion shall constitute equity.
If any such consents or approvals are required for granting a security interest with respect to the Tranche B Portion or the Tranche C Portion and such consents or approvals are not obtained, the applicable “Excluded Contract Rights” shall not secure the Company’s obligations under the Tranche B Portion or the Tranche C Portion.
For any Lender which has a Balance Funded Amount, the Balance Funded Rate shall apply first to such Lender's Tranche D Loans, second to such Lender's Unadjusted Tranche C Loans, third to such Lender's Unadjusted Tranche B Portion, fourth to such Lender's Unadjusted Tranche A Portion, fifth to such Lender's Adjusted Tranche C Portion, sixth to such Lender's Adjusted Tranche B Portion, and last to such Lender's Adjusted Tranche A Portion.

More Definitions of Tranche C Portion

Tranche C Portion means, (a) with respect to any Advance under a Facility (or the Land Portion or Improvement Portion thereof in the case of Facility 1) without reference to any Participant, the portion of such Advance equal to the applicable Tranche C Proportionate Share of such Advance and (b) with respect to any Advance under a Facility (or the Land Portion or Improvement Portion thereof in the case of Facility 1) with reference to any Participant, the portion of such Advance equal to such Participant's applicable Tranche C Percentage of such Advance.

Tranche C Portion means, (a) with respect to any Advance without reference to any Participant, the portion of such Advance equal to the Tranche C Proportionate Share of such Advance and (b) with respect to any Advance with reference to any Participant, the portion of such Advance equal to such Participant's Tranche C Percentage of such Advance. "Tranche C Proportionate Share" shall mean, at all times (whether before, on or after the Commitment Termination Date), three and one- tenth percent (3.1%). "Trustee" shall have the meaning given to that term in the introductory paragraph of the Lease Agreement. "Two-Year Commitment" shall have the meaning given to that term in Subparagraph 2.01(b) of the Participation Agreement. "Unused" shall mean (a) with respect to the 364-Day Commitment at any time, the remainder of (i) the 364-Day Commitment at such time minus (ii) the aggregate amount of all Advances made prior to such time and allocated to the 364-Day Commitment; (b) with respect to the Two-Year Commitment at any time, the remainder of (i) the Two-Year Commitment at such time minus (ii) the aggregate amount of all Advances made prior to such time and allocated to the Two-Year Commitment; and (b) with respect to the Total Commitment at any time, the remainder of (i) the Total Commitment at such time minus (b) the aggregate amount of all Advances made prior to such time.