Tranche Two Draw Period definition

Tranche Two Draw Period means, with respect to Tranche Two, the period of time commencing on date on which Bank has determined that Borrower has achieved the Tranche Two Milestone and continuing through the earlier to occur of (a) September 30, 2022 and (b) the occurrence of an Event of Default.
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Tranche Two Draw Period is, subject to Bank determining that Borrower has achieved the Tranche Two Milestone, the period of time commencing on December 31, 2020 and continuing through the earlier to occur of (a) June 30, 2021, and (b) the occurrence and continuance of an Event of Default. (For the avoidance of doubt, any Events of Default waived by Bank or cured within the applicable cure periods specified by Bank shall not irrevocably terminate the Tranche Two Draw Period.)
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Examples of Tranche Two Draw Period in a sentence

  • Subject to the terms and conditions of this Agreement and provided that Borrower has achieved the Tranche Two Milestone, the Lenders agree, severally and not jointly, to make a term loan available to Borrower in a single advance during the Tranche Two Draw Period in the amount of Five Million Dollars ($5,000,000) according to each Lender’s Tranche Two Term Loan Commitment (the “Tranche Two Term Loan Advance”).

  • The second tranche (“Tranche Two”) shall be in an amount equal to Twelve Million Dollars ($12,000,000.00) and shall be available to be advanced in no more than three (3) advances (each of the Term Loans made severally by each Lender in respect of each advance under Tranche Two, collectively, a “Tranche Two Term Loan Advance” and, all such Term Loans and all such Tranche Two Term Loan Advances, collectively, the “Tranche Two Term Loan Advances”) during the Tranche Two Draw Period.

Related to Tranche Two Draw Period

  • Second Draw Period is the period commencing on December 1, 2015 and ending on the earlier of (i) January 31, 2016 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on December 1, 2015, an Event of Default has occurred and is continuing.

  • Draw Period is the period of time from the Effective Date through the earlier to occur of (a) June 30, 2012, or (b) an Event of Default.

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

  • 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.

  • Tranche 2 has the meaning set forth in Section 2.2(a)(ii).

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

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Tranche C Term Loan as defined in Section 2.1.

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

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Delayed Draw Funding Date means any date on which the Delayed Draw Term Loans are funded hereunder, which shall in no event be later than the Delayed Draw Term Loan Commitment Termination Date.

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

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

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).

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

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

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Tranche A Maturity Date means August 4, 2005, or, if such day is not a Business Day, the next preceding Business Day.

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • Tranche B Maturity Date means May 8, 2009, or, if such day is not a Business Day, the next preceding Business Day.

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

  • Tranche B Term Loan as defined in Section 2.1.