Tranche One Loan definition

Tranche One Loan means the term loan from the Lender in a principal amount of $20,000,000 made to the Borrower on the Closing Date pursuant to Section 2.1.1(a).
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Tranche One Loan means an amount up to $1,750,000 (which shall include the continuation of the Existing Loan), available upon the Effective Date, subject to satisfaction of applicable conditions precedent.
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Tranche One Loan means the term loan from the Lender pursuant to Section 2.1.1(a), together with any PIK Interest accrued thereon and added to the aggregate principal balance thereof in accordance with Section 2.3.1(a).
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Examples of Tranche One Loan in a sentence

  • The Borrower shall have paid, on or prior to the Tranche One Funding Date, (i) the Closing Fee, (ii) all fees and expenses owing and payable to the Agent and the Lender as of such date and (iii) subject to Section 10.3, without duplication, all costs and expenses incurred by the Agent and the Lender in connection with the funding of the Tranche One Loan which are required to be paid by the Borrower, and shall provide evidence acceptable to the Agent of the foregoing.

  • The Tranche One Loan shall be Advanced in one Advance, with such Advance to be made to the Borrower’s Account.

  • Upon satisfaction of the Tranche One Loan conditions precedent set forth in Article 6, the Lender shall Advance the Tranche One Loan to the Borrower.

  • The Existing Loan outstanding as of the Effective Date shall convert into and continue as part of the Tranche One Loan hereunder for all purposes (including for purposes of determining the amount of the Commitment available to the Borrower).

  • The obligation of the Lender to Advance the Tranche One Loan (and each subsequent Tranche) is subject to satisfaction (or waiver by the Lender in its sole discretion) of each of the following conditions precedent.

  • Upon Advance, the commitment of the Lender to make the Tranche One Loan shall expire.

  • The Existing Loan shall continue as part of the Tranche One Loan under this Agreement.

  • During the Tranche One Interest-Only Period, the Borrower may elect to pay up to 1.0% per annum of interest on the Tranche One Loan, for each Interest Payment Date occurring during the Tranche One Interest-Only Period, as interest paid-in-kind (“PIK Interest”) and such PIK Interest shall be added to the aggregate principal balance of the Tranche One Loan in arrears on such Interest Payment Date.

  • After the Tranche One Maturity Date and at any time an Event of Default exists, all accrued interest on the Tranche One Loan shall be payable in cash on demand at the rates specified in Section 2.3.1.

  • Each Drawdown Notice shall be given to the Administrative Agent prior to 3:00 p.m. (Toronto time) on a date not later than the tenth (10th) Banking Day prior to the date of any drawdown (except for the Drawdown Notice for the Tranche One Loan, which may be given one (1) Banking Day prior to the date of that drawdown).


More Definitions of Tranche One Loan

Tranche One Loan means the term loan made by the Lender pursuant to Section 2.1.1(a).
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Tranche One Loan means the term loan from the Lender pursuant to Section 2.1.1(a).
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Related to Tranche One Loan

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

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

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

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

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Revolving Loan means a Loan made pursuant to Section 2.01.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

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

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

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

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Multicurrency Loan means a Loan denominated in Dollars or an Agreed Foreign Currency.

  • 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).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • U.S. Swingline Loan means a Loan made pursuant to Section 2.04 as a “U.S. Swingline Loan.”