Tranche Two Loan definition

Tranche Two Loan means the term loan from the Lender in a principal amount of at least $10,000,000 and up to $20,000,000, at the Borrower’s discretion, made to the Borrower pursuant to Section 2.1.1(b).
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Tranche Two Loan means an amount equal to the Borrower’s next payment due under the Santa Xxxx Acquisition Agreement, up to $4,250,000, available on the date such payment is due pursuant to the Santa Xxxx Acquisition Agreement, subject to satisfaction of the conditions precedent thereto.
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Tranche Two Loan means the term loan from the Lender pursuant to Section 2.1.1(b), together with any PIK Interest accrued thereon and added to the aggregate principal balance thereof in accordance with Section 2.3.1(b).
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Examples of Tranche Two Loan in a sentence

  • The Borrower shall have delivered a Note in respect of the Tranche Two Loan in form and substance satisfactory to the Agent, duly executed by the Borrower.

  • The Borrower shall have delivered a Borrowing Request in respect of the Tranche Two Loan no later than noon Pacific time at least five (5) Business Days prior to the proposed borrowing date.

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

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

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

  • 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 Tranche Two Loan and Tranche Three Loan shall be made available to the Borrower contemporaneously by all of the Lenders.

  • Borrowings under the Credit Agreement bear interest at a rate per annum equal to LIBOR plus 9.50% with a 1% LIBOR floor; provided, however, that in the event that the Company achieves sales of not less than $61.7 million for the 2018 calendar year and the Tranche Two Loan has been funded, then the interest rate on the borrowings under the Credit Agreement will decrease to LIBOR plus 7.75% with a 1% LIBOR floor.

  • The Borrower shall have paid, on or prior to the Tranche Two Funding Date, (i) all fees and expenses owing and payable to the Agent and the Lender as of such date and (ii) 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 Two Loan which are required to be paid by the Borrower, and shall provide evidence acceptable to the Agent of the foregoing.

  • 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 Two 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.


More Definitions of Tranche Two Loan

Tranche Two Loan means the term loan from the Lender in a principal amount of at least $10,000,000 and up to
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Tranche Two Loan means a Tranche Two Revolving Loan or a Tranche Two Term Loan.
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Tranche Two Loan means the term loan from the Lender pursuant to Section 2.1.1(b).]
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Related to Tranche Two 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 A Advance has the meaning specified in Section 2.01(a).

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

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

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

  • Tranche C Term Loan as defined in Section 2.1.

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

  • Tranche B Term Loan as defined in Section 2.1.

  • 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.

  • 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 B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • 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 A Term Loan as defined in Section 2.1.

  • Class B-1 Prepayment Percentage As to any Distribution Date, the percentage calculated by multiplying the Subordinated Prepayment Percentage by either (i) if any Class B Certificates (other than the Class B-1 Certificates) are eligible to receive principal distributions for such Distribution Date in accordance with Section 4.01(d), a fraction, the numerator of which is the Class B-1 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d) or (ii) except as set forth in Section 4.01(d)(ii), in the event that the Class B Certificates (other than the Class B-1 Certificates) are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), one.

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

  • Class B-2 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Prepayment Percentage for such Distribution Date will be zero.

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Tranche A Maturity Date means November 8, 2008, or, if such day is not a Business Day, the next preceding Business Day.

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

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

  • Tranche B Term Loan Facility as defined in the definition of “Facility” in this Section 1.1.

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

  • 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.