Tranche L definition

Tranche L or “Tranche L Facility” means a tranche of a term facility under an Intercompany Loan Agreement corresponding to an advance under a Liquidity Facility;
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Tranche L means that part of the Loan made or to be made available to the Borrowers to finance the lower of (i) 60 per cent. of the Fair Market Value of Ship L and (ii) $20,400,000.
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Tranche L means that part of the Loan to be advanced in one Drawing to the Borrower either concurrently with the Delivery Date of Vessel L or, if the relevant Collateral Owner has already purchased Vessel L from the relevant Seller, to refinance the Purchase Price of Vessel L, but in any event no later than the Availability Termination Date which shall not exceed the Maximum Sum for Vessel L in connection with the purchase of Vessel L or, where the context permits, the amount advanced and for the time being outstanding.
Sample 1

Examples of Tranche L in a sentence

  • In respect of a Ship, the undertakings in this Clause 25 (Insurance Undertakings) shall apply and remain in force on and from the first Utilisation Date in the case of the Existing Ships and the Utilisation Date of Tranche L in the case of Ship L and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.

  • The Borrower may request an increase in the Commitment and the Tranche FX Commitment, Tranche L Commitment, and/or the Tranche S Commitment then in effect by submitting a Commitment Increase Request setting forth such proposed Commitment and Tranche FX Commitment, Tranche L Commitment, and/or Tranche S Commitment not less than [Redacted].

  • All quotations given and all contracts made by the Company are subject to the terms and conditions contained herein and all terms and conditions referred to by the buyer or contained in any order, acceptance of quotation or otherwise brought to the notice of the company are hereby excluded.

  • The Fund has entered into a credit agreement with Credit Suisse International that bears interest at the 3M LIBOR plus 1.70% for Tranche L and 1.05% for Tranche U.

  • The Borrower may from time to time permanently reduce, in whole or in part, the Commitment and the Tranche FX Commitment, the Tranche L Commitment and/or the Tranche S Commitment then in effect by submitting a Commitment Decrease Request setting forth the proposed Commitment and the proposed Tranche FX Commitment, Tranche L Commitment and/or Tranche S Commitment.

  • The Liens granted by the Borrower shall terminate and all rights of the Collateral Agent to the Collateral shall revert to the Borrower when (a) the Collateral Agent has confirmed in writing that the Commitment, the Tranche FX Commitment, the Tranche L Commitment and the Tranche S Commitment shall have terminated whether on the Scheduled Maturity Date or otherwise and (b) all Secured Obligations shall have been paid in full.

  • Without prejudice to Section 1.04, the Borrower may request a reallocation of the Commitment and the Tranche FX Commitment, Tranche L Commitment and/or the Tranche S Commitment then in effect hereunder against the Commitment and the Tranche FX Commitment, Tranche L Commitment and/or the Tranche S Commitment then in effect under any Affiliated Facility by submitting a Reallocation Request setting forth such proposed reallocation not less than [Redacted].

  • Xxxxx Title: Director XXXXXXX XXXXX BANK USA, as Agent and as Tranche L Term Lender by /s/ Xxxxxx Xxxxxxx Name: Xxxxxx Xxxxxxx Title: Authorized Signatory Xxxxxxx Xxxxx Bank USA $ 1,500,000,000 TOTAL $ 1,500,000,000 SECTION 1.01.

  • The Tranche L Upfront Fees shall be payable on, and subject to, the Amendment No. 17 Effective Date in immediately available funds and, once paid, shall not be refundable under any circumstances.

  • Notwithstanding anything to the contrary in the Amended Credit Agreement, the initial Interest Period with respect to each of the Tranche L 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 4(e) of this Agreement.


More Definitions of Tranche L

Tranche L 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 L under Existing Agreement H or, as the case may be, the Existing Indebtedness over the relevant Substitute Ship of Ship L 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.
Sample 1
Tranche L means that part of the Loan to be advanced in one Drawing to the Borrower either concurrently with the Delivery Date of Vessel L or, if the relevant Collateral Owner has already purchased Vessel L from the relevant Seller, to refinance the Purchase Price of Vessel L, but in any event no later than the Availability Termination Date which shall not exceed the Maximum Sum for Vessel L
Sample 1

Related to Tranche L

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

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

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

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

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

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

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

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

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

  • Tranche C Term Loan as defined in Section 2.1.

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

  • Dollar Commitment means, with respect to each Dollar Lender, the commitment of such Dollar Lender to make 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 amount of each Lender’s Dollar Commitment as of the Effective Date is set forth on Schedule 1.01(b), 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 as of the Effective Date is $125,000,000.

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

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

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

  • Tranche B Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan hereunder on the Effective Date, expressed as an amount representing the maximum principal amount of the Tranche B 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 B Commitment is set forth on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Tranche B Commitment, as the case may be. The initial aggregate amount of the Lenders’ Tranche B Commitments is $750,000,000.

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

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

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