Tranche Size definition

Tranche Size means, in respect of any Collateral Asset, the aggregate principal amount of all of the borrowing facilities available to the Obligor under the terms of the relevant Underlying Loan Agreement as of the original effective date of the Underlying Loan Agreement. For purposes of determining the Tranche Size in respect of any Collateral Asset: (1) for Collateral Assets that are, in accordance with then-prevailing market practice, typically bought and sold together, the respective aggregate principal amount of the borrowing facilities available to the Obligor under the facilities evidenced by the relevant Underlying Loan Agreement shall be aggregated (and, for the avoidance of doubt, the respective aggregate principal amounts of all revolving facilities, term loan “A” tranches, term loan “B” tranches and similar loan tranches issued under a single credit agreement shall be aggregated); (2) the respective principal amounts of lines of credit and delayed draws that, in accordance with then-prevailing market practice, trade with any Collateral Asset shall be aggregated; and (3) the respective principal amount of any borrowing facilities that are, under then prevailing market practice, considered add-on facilities in respect of any Collateral Asset shall be aggregated with the principal amount of such Collateral Asset; provided that, in the case of clauses (1), (2) and (3) above, such facilities are pari passu in terms of repayment seniority.

Tranche Size. With respect to any Loan, the dollar value of the tranche of Indebtedness of the applicable Obligor currently held or contemplated for purchase by the Borrower; provided that any pari passu tranche of Indebtedness that is broadly syndicated with the same material terms and issued by the same Obligor pursuant to the same Underlying Instruments may be included in the calculation of Tranche Size in the sole discretion of the Administrative Agent.

Tranche Size means, with respect to any Broadly Syndicated Loan Asset, the tranche currently held or contemplated for purchase by the Borrower; provided, that (i) to the extent, there are multiple pari passu tranches issued by an Obligor, such other tranches shall be included in the calculation of “Tranche Size” if and to the extent that the related Loan Agreement provides that (x) such tranches are governed by the same material terms, and (y) each of such tranches are each widely distributed, and (ii) the calculation of “Tranche Size” hereunder shall include any last out component (but not any second lien component) relating thereto.

Examples of Tranche Size in a sentence

• When a name in the index defaults, with loss-given-default (LGD) set at 35%, the payout from the protection seller is Payout = (Notional × LGD × Weighting) /Tranche Size (1)= ($10, 000, 000 × 0.35 × 0.01) /0.1 = $350, 000.

• Each share of Preferred Stock shall be convertible, at any time after the Stock Exchange Uplisting and the passage of minimum time of any regulatory period for the shares being free to trade (“Free Trading Date”) at the option of the Holder thereof, into that number of shares of Common Stock (subject to the limitations set forth in Section 6(d)) determined by dividing the Tranche Size by the Conversion Price that is applicable to the First Liquidation Interval or the Subsequent Liquidation Interval.

• The Offering of the Offer Shares is divided as follows: The First Tranche: Size: A number of Offer Shares representing five percent (5%) of the Offer Shares.

• When a name in the index defaults, with loss-given-default (LGD) set at 35%, the payout from the protection seller is Payout = (Notional × LGD × Weighting) /Tranche Size= ($10, 000, 000 × 0.35 × 0.01) /0.1 = $350, 000.

• A Loan that (i) satisfies the definition of Middle Market Loan, (ii) has a Tranche Size of at least $250,000,000 and (iii) is publicly rated by either or both of S&P and Moody’s (or the related Obligor is rated by either or both of S&P and Moody’s) and no such rating is lower than “B3” in the case of Moody’s and “B-” in the case of S&P.

More Definitions of Tranche Size

Tranche Size means the Upper Boundary minus the Lower Boundary.

Tranche Size means, with respect to any Loan, the dollar value of the tranche (including any last-out component but excluding any second lien or unsecured tranche) of Indebtedness of the applicable Obligor currently held or contemplated for purchase by the Borrower; provided that any pari passu tranche of Indebtedness that is broadly syndicated with the same material terms and issued by the same Obligor pursuant to the same Loan Agreement may be included in the calculation of Tranche Size in the sole discretion of the Administrative Agent.

Tranche Size means, in respect of any Collateral Loan, the aggregate principal amount of all of the borrowing facilities available to the Obligor under the terms of the relevant Underlying Loan Agreement as of the original effective date of the Underlying Loan Agreement. For purposes of determining the Tranche Size in respect of any Collateral Loan: (1) for Collateral Loans that are, in accordance with then-prevailing market practice, typically bought and sold together, the respective aggregate principal amount of the borrowing facilities available to the Obligor under the facilities evidenced by the relevant Underlying Loan Agreement shall be aggregated (and, for the avoidance of doubt, the respective aggregate principal amounts of all revolving facilities, term loan “A” tranches, term loan “B” tranches and similar loan tranches issued under a single credit agreement shall be aggregated);

Tranche Size means, with respect to any Portfolio Investment, an amount equal to the sum of the principal amount of the aggregate tranche (including any incremental term loan issuance issued under the same credit document which has the same interest spread, maturity and seniority) of such Portfolio Investment as of the date of its acquisition by the Company (without regard to any reduction thereof as a result of scheduled amortization payments).

Tranche Size means [an amount, expressed as a percentage, equal to the Detachment Point minus the Attachment Point].] [If appropriate, insert other definition.]

Tranche Size. With respect to any Loan, the dollar value of the tranche of Indebtedness of the applicable Obligor currently held or contemplated for purchase by the Borrower, which may include, in the sole discretion of the Administrative Agent, any Indebtedness under another tranche that, (w) may include any last out component, but not any revolver, unfunded delayed draw loan, but not any second lien loan or unsecured component, (x) is an obligation of the same Obligor under the same Underlying Instrument, (y) pari passu with such Loan and (z) has the same material terms as such Loan.

Tranche Size means 25% of the Stated Value of such share of Preferred Stock for each of the First Liquidation and Subsequent Liquidation Intervals.