Tranche J definition

Tranche J 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 J.
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Tranche J means that part of the Loan to be advanced in one Drawing to the Borrower either concurrently with the Delivery Date of Vessel J or, if the relevant Collateral Owner has already purchased Vessel J from the relevant Seller, to refinance the Purchase Price of Vessel J, but in any event no later than the Availability Termination Date which shall not exceed the Maximum Sum for Vessel J in connection with the purchase of Vessel J or, where the context permits, the amount advanced and for the time being outstanding.
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Tranche J means that part of the Loan made or to be made available to the Borrowers in an amount not exceeding the relevant Tranche Amount to refinance the Existing Indebtedness over Ship J under Existing Agreement C or, as the case may be, the Existing Indebtedness over the relevant Substitute Ship of Ship J under the relevant Substitute Ship Existing Agreement, and for general corporate purposes or (as the context may require) the principal amount of such borrowing outstanding for the time being.
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Examples of Tranche J in a sentence

  • Borrower shall pay Lender interest on each outstanding Advance from the date of disbursement until, but not including, the date of payment, at an annual rate equal to the sum of the Applicable Rate plus the applicable Margin; provided, however, that if a Pledged Mortgage Loan securing an Advance is deemed to be a Noncompliant Mortgage Loan, thereafter such Advance shall bear interest at an annual rate equal to the sum of the Applicable Rate plus the Tranche J Margin.

  • The Company has provided security on these debentures covering all of the assets of PolyMet and PolyMet US, including a pledge of PolyMet’s 100% shareholding in PolyMet US.On January 27, 2016, the Company issued $11.0 million Tranche J secured debentures to Glencore that bears interest at 12-month US dollar LIBOR plus 15.0%.

  • This Agreement, the Amendments, the Tranche J Debenture, the Purchase Agreement, the other Agreements (as defined in the Purchase Agreement) and all other agreements, instrument and documents executed by any of the Parties in connection with any of the foregoing are the complete agreement of the Parties with respect to the subject matter hereof and thereof.

  • The aggregate original value of those Purchased Mortgage Loans that are deemed to be Noncompliant Mortgage Loans is greater than or equal to the Tranche J Sublimit.

  • Each of Tranche J and the Deferred Tranche were reallocated from the other Tranches in the manner described in Clause 6.2 (Reallocations) and were not advanced or reborrowed by the Borrowers on the Effective Date.

  • Non-Convertible Debt - Continuedb) Glencore - ContinuedOn January 27, 2016, the Company issued $11.0 million Tranche J secured debenture to Glencore that bears interest at 12-month US dollar LIBOR plus 15.0%.

  • The Administrative Agent shall have received reasonably satisfactory evidence that, on the Third Restatement Effective Date, substantially concurrently with the establishment of the Tranche I Term Loans and the Tranche J Term Loans, all Tranche D Term Loans that are not Tranche I Converted Tranche D Term Loans or Tranche J Converted Tranche D Term Loans will be repaid in full.

  • Inventory levels in excess of customer demand may result in inventory write-downs, and the sale of excess inventory at discounted prices could significantly impair our brand image and have a material adverse effect on our operating results and financial condition.

  • The Borrower hereby jointly and severally agree to repay to each Lender with Tranche D Term Loans (other than Tranche I Converted Tranche D Term Loans and Tranche J Converted Tranche D Term Loans) the full principal amount of such Tranche D Term Loans together with all accrued and unpaid interest thereon on the Third Restatement Effective Date.

  • On the date such funds have been received by the Issuer, the Tranche J Debenture shall be released from escrow to the Purchaser whereupon the Tranche J Debenture shall be deemed to be issued and the Purchaser shall fill in by hand the date of such receipt as the date of issuance of the Tranche J Debenture.

Related to Tranche J

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

  • Tranche 2 has the meaning set forth in Section 2.2(a)(ii).

  • 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 Loan has the meaning specified in Section 2.01(c).

  • Tranche the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

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

  • Tranche 1 January 1, 2015 through December 31, 2015, which is allotted 25% of the Target Award,

  • Tranche C Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TFA pursuant to Section 2.1(c) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche C Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche C Lender means each Lender that has a Tranche C Commitment on Schedule 2.1 or any Lender to which a portion of the Tranche C Commitment hereunder has been assigned pursuant to an Assignment and Assumption.

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

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

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

  • Tranche A Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche A Term Loan hereunder on the Effective Date, expressed as an amount representing the maximum principal amount of the Tranche A Term Loan to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08 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 $50,000,000.

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

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

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche B Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TCCI pursuant to Section 2.1(b) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche B Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche C Term Loan as defined in Section 2.1.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Tranche B Term Commitment as to any Tranche B Term Lender, the obligation of such Tranche B Term Lender to make an Initial Tranche B Term Loan to the Borrower in the principal amount set forth under the heading “Tranche B Term Commitment” opposite such Tranche B Term Lender’s name on Schedule 2.1 to this Agreement. The aggregate principal amount of the Tranche B Term Commitments as of the Closing Date is $1,025,000,000.

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

  • Dollar Commitment means, with respect to each Dollar Lender, the commitment of such Dollar Lender to make Syndicated Dollar Loans, and to acquire participations in Dollar Letters of Credit and Dollar Swingline Loans, denominated in Dollars hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Dollar Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.08 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 Dollar Commitment is set forth on Schedule I, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Dollar Commitment, as applicable. The aggregate amount of the Lenders’ Dollar Commitments on the Effective Date is $0.

  • Tranche B Term Lender each Lender that has a Tranche B Term Commitment or that holds a Tranche B Term Loan.

  • Tranche A Term Loan Lender means a Lender with a Tranche A Term Loan Commitment or an outstanding Tranche A Term Loan.

  • Term A Commitment means, as to each Term A Lender, its obligation to make Term A Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term A Lender’s name on Schedule 2.01 under the caption “Term A Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term A Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.