Tranche K definition

Tranche K means that part of the Loan to be advanced in one Drawing to the Borrower either concurrently with the Delivery Date of Vessel K or, if the relevant Collateral Owner has already purchased Vessel K from the relevant Seller, to refinance the Purchase Price of Vessel K, but in any event no later than the Availability Termination Date which shall not exceed the Maximum Sum for Vessel K in connection with the purchase of Vessel K or, where the context permits, the amount advanced and for the time being outstanding.
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Tranche K 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 K.
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Tranche K means that part of the Loan made or to be made available to the Borrowers to finance up to the lower of (i) 60 per cent. of the Fair Market Value of Ship H or (ii) $23,400,000.
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Examples of Tranche K in a sentence

  • On June 3, 2016, the Company issued $3.0 million Tranche K secured debenture, on July 1, 2016 it issued $5.0 million Tranche L-1 secured debenture, on July 26, 2016 it issued $3.0 million Tranche L-2 secured debenture, and on August 5, 2016 it issued $3.0 million Tranche M secured debenture to Glencore.

  • Unless the context shall otherwise require, (i) the Tranche K Refinancing Term Loans shall constitute “Refinancing Term Loans”, “Tranche K Term Loans” and “Term Loans”, and (ii) the Tranche K Refinancing Term Lenders shall constitute “Refinancing Term Lenders”, “Tranche K Term Lenders”, “Term Lenders” and “Lenders”, in each case, for all purposes of the Amended Credit Agreement and the other Loan Documents.

  • For the avoidance of doubt, after giving effect to the consummation of the March 2024 Transactions on the Amendment No. 15 Effective Date, the Extended Tranche H Term Loans and the Tranche K Refinancing Term Loans shall constitute a single Class of Term Loans under the Amended Credit Agreement.

  • The Tranche K Debenture in the amount of $3.0 million was issued on June 3, 2016.

  • For the avoidance of doubt, all Tranche H Term Loans that are not converted into Tranche K Term Loans pursuant hereto (the “Non-Converted Tranche H Term Loans”) shall, immediately following the effectiveness of the Tranche H Term Loan Modification, continue to be in effect and outstanding under the Amended Credit Agreement as Tranche H Term Loans (subject to the prepayment thereof on the Amendment No. 15 Effective Date).

  • Notwithstanding anything to the contrary in the Amended Credit Agreement, the initial Interest Period with respect to each of the Extended Tranche H Term Loans and the Tranche K Refinancing Term Loans shall be the applicable Interest Period set forth therefor in the notice of borrowing delivered by the Borrower to the Agent pursuant to Section 7(d).

  • The Tranche H Conversion Fees and the Tranche K Upfront Fees shall be payable on, and subject to the occurrence of, the Amendment No. 15 Effective Date in immediately available funds and, once paid, shall not be refundable under any circumstances.


More Definitions of Tranche K

Tranche K 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 K under Existing Agreement F or, as the case may be, the Existing Indebtedness over the relevant Substitute Ship of Ship K 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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Related to Tranche K

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

  • 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 2 means the amount of [**] to be applied in payment of the third pre-delivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;

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

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

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

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

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

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

  • Tranche C Term Loan as defined in Section 2.1.

  • Tranche B Term Loan as defined in Section 2.1.

  • Tranche A Term Commitment as to any Lender, the obligation of such Lender, if any, to make a Tranche A Term Loan to the Borrower on the Incremental Facilities Closing Date in a principal amount not to exceed the amount set forth under the heading “Tranche A Term Commitment” opposite such Lender’s name on Schedule 1.1A. The original aggregate amount of the Tranche A Term Commitments is $20,000,000.

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

  • Tranche A Term Loan Lender each Lender that has a Tranche A Term Loan Commitment or is the holder of a Tranche A Term Loan.

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

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Tranche B Term Loans means the Loans made by Lenders to Company pursuant to subsection 2.1A(ii).

  • Tranche A Commitment means, with respect to each Lender, the -------------------- commitment, if any, of such Lender to make Tranche A Term Loans hereunder, expressed as an amount representing the maximum principal amount of the Tranche A Term Loans to be made by such Lender hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.06 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 $175,000,000.

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

  • 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 Term Loan as defined in Section 2.1.

  • Tranche A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).

  • Tranche A Term Loan Commitment means the commitment of a Lender to make or otherwise fund the Tranche A Term Loan and “Tranche A Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of the Tranche A Term Loan Commitments as of the Closing Date is $5,000,000.

  • Tranche B Term Loan Facility as defined in the definition of “Facility” in this Section 1.1.