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).
Sample 1Sample 2Sample 3
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.
Sample 1Sample 2Sample 3
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).
Sample 1Sample 2

Examples of Tranche One Loan in a sentence

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

  • 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.

  • 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).

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

  • 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 closing costs associated with the Marathon Credit Agreement were allocated based on proportional value to the Tranche One Loan, Tranche Two Loan and the Initial Warrants.

  • The Borrower shall deliver to the Agent, at least three (3) Business Days prior to the applicable Interest Payment Date, a written notice setting forth (i) its election to pay an amount of interest in the form of PIK Interest, (ii) whether interest on the Tranche One Loan shall take the form of PIK Interest and (iii) the amount of interest that shall constitute PIK Interest on the applicable Interest Payment Date.

  • Each Tranche One Lender agrees, severally and not jointly and severally, to make available to the Administrative Agent its share of the Tranche One Loan prior to 12:00 p.m. (Toronto time) on the date which is at least one Banking Day prior to the date for the extension of such loan.


More Definitions of Tranche One Loan

Tranche One Loan means the term loan from the Lender in a principal amount of $25,000,000 made to the Borrower on the Closing Date pursuant to Section 2.1.1(a).
Sample 1
Tranche One Loan means the term loan from the Lender pursuant to Section 2.1.1(a).
Sample 1

Related to Tranche One Loan

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

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

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

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

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

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR 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 a Swingline Loan made to the Canadian Borrower.

  • 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.