First Tranche definition

First Tranche means the amount of the Loan allocated to the category entitled “First Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

First Tranche means the portion of the proceeds of the Loan in an amount not exceeding the equivalent of thirty two million six hundred and thirty seven thousand Special Drawing Rights (SDR32,637,000) to be initially withdrawn and utilized pursuant to and subject to the provisions of Attachment 2 of Schedule 3 to this Loan Agreement;

First Tranche means the portion of the proceeds of the Loan in an amount of $500,000,000 to be withdrawn pursuant to and subject to the provisions of paragraph 4 of Schedule 3 to this Loan Agreement;

Examples of First Tranche in a sentence

• An RMA may contain a provision that allows Developer to request that the Total Tax Obligation be recalculated and Project Special Tax rates be reduced before any First Tranche CFD Bonds are issued so that the Total Tax Obligation does not exceed two percent (2%) of the actual or projected sales prices of Taxable Residential Units at the time of recalculation.

• The Company shall apply the proceeds of the subscription by the Investors for the [New Shares] [First Tranche Shares and Second Trance Shares] [Note: amend as appropriate] in the furtherance of the Business in accordance with the Business Plan and the Budget.

• Developer may submit written requests that City issue First Tranche CFD Bonds, specifying requested issuance dates, amounts, and main financing terms.

• Each RMA will establish Assigned Project Special Tax Rates assuming that any First Tranche CFD Bonds issued will have a debt service coverage-ratio of one hundred ten percent (110%), unless City and Developer Approve a higher ratio to market the First Tranche CFD Bonds effectively.

• The purpose of the First Tranche Loan was for the payment of the Final Dividend, or any other purpose as the Lender considers appropriate.

More Definitions of First Tranche

First Tranche has the meaning assigned to that term in Section 2.1.

First Tranche means the portion of the proceeds of the Grant in an amount not exceeding $11,000,000 to be withdrawn pursuant to and subject to the conditions set out in Attachment 2 to Schedule 2 to this Grant Agreement and the portion of the proceeds of the DFID Grant in an amount not exceeding $900,000;

First Tranche is defined in Section 2.1.1(a).

First Tranche means the Tranche (as hereinafter defined) of the proceeds of the Credit allocated to Category (1) in the table set forth in paragraph 1 of Schedule 1 to this Agreement;

First Tranche means 413,666 of the Restricted Shares, for which the Performance Condition will be satisfied upon achievement of the First Performance Hurdle;

First Tranche means the portion of the proceeds of the Loan in an amount not exceeding the equivalent of SDR19,116,000 to be initially withdrawn and utilized;

First Tranche means the portion of the proceeds of the Loan in an amount not exceeding the equivalent of $150,000,000 to be initially withdrawn and utilized;