THE TRANCHE A NOTES Sample Clauses

The Tranche A Notes clause defines the specific terms and characteristics of a particular class of notes, typically issued as part of a structured finance transaction. This clause outlines details such as the principal amount, interest rate, payment schedule, and priority of payments for Tranche A Notes compared to other tranches. For example, Tranche A Notes often have seniority in repayment, meaning they are paid before subordinated tranches in the event of cash flow distributions or defaults. The core function of this clause is to clearly delineate the rights and obligations associated with Tranche A Notes, ensuring investors and parties understand the hierarchy and risk profile within the overall note structure.
THE TRANCHE A NOTES. The Tranche A Loans shall be evidenced by separate promissory notes of the Borrower in substantially the form of Exhibit A hereto (each a “Tranche A Note”), dated as of the Closing Date (or such other date on which a Lender may become a party hereto in accordance with §15 hereof) and completed with appropriate insertions. One Tranche A Note shall be payable to the order of each Lender in a principal amount equal to such Lender’s Tranche A Commitment or, if less, the outstanding amount of all Tranche A Loans made by such Lender, plus interest accrued thereon, as set forth below. The Borrower irrevocably authorizes each Lender to make or cause to be made, at or about the time of the Drawdown Date of any Tranche A Loan or at the time of receipt of any payment of principal on such Lender’s Tranche A Note, an appropriate notation on such Lender’s Tranche A Note Record reflecting the making of such Tranche A Loan or (as the case may be) the receipt of such payment. The outstanding amount of the Tranche A Loans set forth on such Lender’s Tranche A Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender’s Tranche A Note Record shall not limit or otherwise affect the obligations of the Borrower hereunder or under any Tranche A Note to make payments of principal of or interest on any Tranche A Note when due.
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Related to THE TRANCHE A NOTES

  • Amount of Borrowing Tranche Each Borrowing Tranche of Loans under the LIBOR Rate Option shall be in integral multiples of $500,000 and not less than $1,000,000; and

  • Revolving Notes The Revolving Loans made by each Lender shall be evidenced by a duly executed promissory note of the Borrower to such Lender in an original principal amount equal to such Lender's Revolving Commitment Percentage of the Revolving Committed Amount and in substantially the form of Exhibit 2.1(e).

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding and all other unpaid Obligations.

  • Minimum Amount of Each Borrowing; Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Loans shall be in a multiple of $100,000 and shall not be less than the Minimum Borrowing Amount. More than one Borrowing may occur on any date; provided that at no time shall there be outstanding more than four (4) Borrowings of LIBOR Loans under this Agreement.

  • Revolver Notes The Revolver Loans made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender. At the request of any Lender, Borrowers shall deliver a Revolver Note to such Lender.