Tranche K definition

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 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 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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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.

  • 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.

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

  • 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).

  • 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, 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).

  • 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.


More Definitions of Tranche K

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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Related to Tranche K

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

  • Tranche C Loan means an extension of credit by a Lender to TFA under Article II. Except as provided in Section 2.16(c), Tranche C Loans shall be denominated in Australian Dollars.

  • 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 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 means an Advance made by a Bank under Tranche A.

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

  • Tranche A Commitment means, as to each Lender, its obligation to (a) make Committed Loans to the Tranche A Borrowers pursuant to Section 2.1(a) 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 A 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; provided that (a) the Tranche A Commitments available to TKG shall not exceed US$500,000,000 in the aggregate for all Lenders, (b) the Tranche A Commitments available to TCPR shall not exceed US$1,000,000,000 in the aggregate for all Lenders and (c) the Tranche A Commitments available to TLG shall not exceed US$500,000,000 in the aggregate for all Lenders.

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

  • Tranche B Term Commitment means, as to any Lender, the obligation of such Lender, if any, to make a Tranche B Term Loan to the Borrower in a principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule I or in an Increase Joinder. The original aggregate amount of the Tranche B Term Commitments is $3,500,000,000.

  • 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 a Tranche A Term Loan to Company pursuant to subsection 2.1A(i), and "Tranche A Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche C Term Loan Commitment means, with respect to each Tranche C Term Loan Lender, the commitment of such Lender to make Tranche C Term Loans under the Tranche C Term Loan Incremental Facility 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.