Tranche A Loans Sample Clauses
The 'Tranche A Loans' clause defines a specific portion or segment of a larger loan facility, typically distinguished by its own terms, interest rates, and repayment schedules. In practice, Tranche A Loans may be the initial funds disbursed under a credit agreement, often prioritized for repayment or secured by particular collateral, and may have different covenants compared to other tranches. This clause serves to clearly delineate the rights and obligations associated with this segment of the loan, ensuring both lender and borrower understand the specific terms that apply to Tranche A, thereby reducing ambiguity and managing risk allocation within multi-tranche financing arrangements.
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Tranche A Loans. Unless otherwise agreed to by the Administrative Agent in connection with making the initial Loans, to request a Borrowing of Tranche A Loans, the Borrower shall notify the Administrative Agent of such request by telephone (x) in the case of a Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three (3) Business Days before the date of the proposed Borrowing and (y) in the case of an ABR Borrowing, not later than 12:00 p.m., New York City time, on the date of the proposed Borrowing; provided that, (i) any such notice of an ABR Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.03(e) may be given not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing and (ii) any such notice of a Eurodollar Borrowing to be advanced on the Effective Date may be given not later than 11:00 a.m., New York City time, on the Effective Date. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery, courier or telecopy to the Administrative Agent of a written Borrowing Request in a form reasonably acceptable to the Administrative Agent and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of such Borrowing, which shall be a Business Day;
(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and
(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.04(a), the Administrative Agent shall advise each Tranche A Lender of the details thereof and of the amount of such Tranche A Lender’s Tranche A Loan to be made as part of the requested Borrowing.
Tranche A Loans. (a) Upon the terms and conditions and relying on the representations and warranties contained in this Agreement and the other Loan Documents, each Tranche A Lender severally agrees to make Loans (each a "Tranche A Loan") during the Tranche A Commitment Period on a revolving basis to or for the benefit of the Borrowers, or any combination of them, in an aggregate principal amount not to exceed at any time outstanding the lesser of the Tranche A Facility Amount of such Lender or the Percentage Share of such Lender of the Borrowing Base then in effect (for each Lender, its "Tranche A Commitment"); provided, however, that (i) Tranche A Obligations shall not exceed at any time the lesser of the Tranche A Commitment Amount or the Borrowing Base then in effect, and (ii) the sum of the outstanding principal balance of all Tranche A Loans by any Tranche A Lender plus the Percentage Share of such Lender of the L/C Exposure shall not exceed at any time an amount equal to the Percentage Share of such Lender multiplied by the lesser of the Tranche A Commitment Amount or the Borrowing Base then in effect. Tranche A Loans shall be made from time to time on any Business Day designated by the Borrowers in a Borrowing Request.
(b) Subject to the terms of this Agreement, during the Tranche A Commitment Period, the Borrowers may borrow, repay, and reborrow and convert Tranche A Loans of one type or with one Interest Period into Tranche A Loans of another type or with a different Interest Period. Except for prepayments made pursuant to Section 2.13, each borrowing, conversion, and prepayment of principal, in the case of Base Rate Loans, shall be in an amount at least equal to $100,000 and in multiples of $100,000 thereafter and, in the case of LIBO Rate Loans, shall be in an amount at least equal to $1,000,000 and in multiples of $100,000 thereafter. Each borrowing, prepayment, or conversion of or into a Tranche A Loan of a different type or, in the case of a LIBO Rate Tranche A Loan, having a different Interest Period, shall be deemed a separate borrowing, conversion, and prepayment for purposes of the foregoing, one for each type of Tranche A Loan or Interest Period. Anything in this Agreement to the contrary notwithstanding, the aggregate principal amount of LIBO Rate Tranche A Loans having the same Interest Period shall be at least equal to $1,000,000; and if any LIBO Rate Loan would otherwise be in a lesser principal amount for any period, such Tranche A Loan shall be a B...
Tranche A Loans. On the terms and subject to the conditions contained in this Agreement and in reliance upon the representations and warranties of the Obligors set forth herein, each Lender agrees to make one or more Loans to the Borrowers (each, a "Tranche A Loan") on Funding Dates occurring on or after the date of delivery of the last A319/A320 Aircraft currently on order by America West and not rescheduled in accordance with paragraph 5 of the MOU, as requested by a Borrower in a Notice of Borrowing given in accordance with Section 2.2 in an amount not to exceed, in the aggregate for all Tranche A Loans made by such Lender on all Funding Dates, the Tranche A Commitment of such Lender. No Tranche A Loan shall be made prior to the date of delivery of the last A319/A320 aircraft on order by America West on the date hereof and not rescheduled in accordance with paragraph 5 of the MOU. The last such aircraft is currently scheduled to be delivered in February 2006. There may be multiple Borrowings of Tranche A Loans. Tranche A Loans repaid or prepaid may not be reborrowed hereunder.
Tranche A Loans. Subject to the terms and conditions of this Agreement (including, without limitation, Section 2.13(a)), each Tranche A Lender severally agrees to make one or more loans to the Borrower from time to time from and including the Closing Date to but excluding the Tranche A Commitment Termination Date up to but not exceeding the amount of such Tranche A Lender's Tranche A Commitment as then in effect. Notwithstanding anything to the contrary contained in this Agreement, the Borrower, the Administrative Agent and the Lenders agree that, as of the Closing Date, the aggregate outstanding principal amount of the Original Tranche A Loans was $______________ , which amount shall be deemed outstanding as Tranche A Loans hereunder. (Such loans referred to in this Section 2.1(a) now or hereafter made or deemed made by the Tranche A Lenders to the Borrower, including, without limitation, such loans which remain outstanding after the Tranche A Commitment Termination Date, are hereinafter collectively called the "Tranche A Loans".) The Borrower may not reborrow the Tranche A Loans which have been repaid; provided, however, that the Borrower may reborrow the Tranche A Loans which have been prepaid in accordance with Section 2.7(e) in the event that the Borrower elects to increase the Tranche A Commitments in accordance with Section 2.13(c) by an amount equal to or greater than the amount of such reborrowed Loan.
Tranche A Loans. Each Lender severally agrees, on the terms and subject to the conditions hereinafter set forth, to make one or more Committed Loans to the Company on any Business Day during the period commencing on the Closing Date and ending on the Business Day next preceding the Tranche A Termination Date (each such loan, a "Tranche A Loan"), in an aggregate principal amount at any time outstanding which does not exceed such Lender's Tranche A Commitment; provided, however, that after giving effect to any Committed Borrowing of Tranche A Loans, (i) the aggregate principal amount of all Tranche A Loans then outstanding, plus (ii) the aggregate principal amount of all Tranche A Bid Loans then outstanding, plus (iii) the outstanding Tranche A L/C Obligations shall not exceed the Aggregate Tranche A Commitments. Any principal amount of the Tranche A Loans which is repaid or prepaid by the Company may be reborrowed within the limitations set forth in this Section 2.01(a).
Tranche A Loans. If the aggregate amount of the Tranche A Available Funds exceeds $500,000,000 (such excess amount at any time, the “Tranche A Excess Availability”) and such excess is greater than $5,000,000 (i) if the Borrowing Base Certificate is delivered on a weekly basis, on the date such Borrowing Base Certificate is delivered and (ii) otherwise, on the last Business Day of any calendar week, the Borrower shall prepay the Loans (excluding any portion of the Loans comprising interest that is paid in kind on such Loans pursuant to Section 2.05(b)) within one (1) Business Day of such date in an amount equal to the Tranche A Excess Availability. Notwithstanding anything to the contrary contained in this Agreement, from and after the effectiveness of the amendments to each of the Master Restructuring Agreement and the Global Settlement Agreement referred to in Section 5.03, on each date, the Borrower shall immediately repay, as a set-off by GM in accordance with Section 2.07, an amount equal to the lesser of (x) the Tranche A Obligations outstanding hereunder on such date and (y) any amounts due and payable by GM or its Affiliates to or for the credit or the account of the Borrower or any Guarantor under such agreements on such date.
Tranche A Loans. Subject to the terms and conditions set forth in this Agreement (including Section 4.03) and in reliance upon the representations and warranties of the Loan Parties set forth herein, each Tranche A Lender severally, but not jointly, agrees to advance to the Borrower (x) on the date that is three (3) Business Days after the delivery of the Borrowing Request delivered on the Closing Date, loans in an amount equal to $68,800,000 and (y) on the date that is twelve (12) Business Days after the delivery of the Borrowing Request delivered on the Closing Date, the remaining amount of such Tranche A ▇▇▇▇▇▇’s unfunded Tranche A Commitments (individually, a “Tranche A Loan” and, collectively, the “Tranche A Loans”).
Tranche A Loans. The obligation of the Lender to make Tranche A Loans available hereunder shall occur on the date (the "Effective Date") on or after June 29, 1998 that the Lender shall have received each of the following, in form and substance satisfactory to the Lender and its counsel:
(i) the Notes duly executed by the Borrowers;
(ii) the Security and Pledge Agreement duly executed by the Borrowers and any Subsidiary of the Borrowers with an interest in the Collateral, together with such financing statements executed by the Borrowers and such Subsidiaries which in the opinion of the Lender are desirable to perfect the liens and security interests created hereby and by the Security and Pledge Agreement;
(iii) the stock certificates evidencing the Pledged Interests, accompanied by undated stock powers duly executed in blank; provided that stock certificates evidencing Foreign Collateral shall be received by Lender as promptly as practicable;
(iv) evidence that either the Interim Order or the Final Order, as the case may be, shall have been entered by the Bankruptcy Court approving the Commitments (or such lesser amount as shall be acceptable to the Lender in its sole discretion), and each such Order shall be in full force and effect and shall not have been reversed, stayed, modified or amended;
(v) a copy of the charter, as amended and in effect, of each of the Borrowers and of each of the "Domestic Issuers" under Annex 2A of the Security and Pledge Agreement, certified as of recent date by the Secretary of State of the State of Delaware, or, in the case of each Domestic Issuer which is not a Delaware entity, by an officer of the state of such Subsidiary=s incorporation or organization, and a certificate from such Secretary of State or officer dated as of recent date as to the good standing of and charter documents filed by the Borrowers and such Subsidiary;
(vi) a certificate from the Secretary of each of the Borrowers and of any Subsidiary of the Borrowers that is a party to any Facility Document, dated the Effective Date, certifying (A) that the attached are true and complete copies of the by-laws of the Borrowers and such Subsidiary as amended and in effect at all times from the date on which the resolutions referred to in clause (B) were adopted to and including the date of such certificate, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors of each of the Borrowers and of any Subsidiary of the Borrowers that is...
Tranche A Loans. Upon the terms and subject to the conditions of this Agreement, each Tranche A Lender agrees to make a Tranche A Loan in a single advance to the Borrower on any Business Day during the Availability Period (the “Closing Date”) in a principal amount not exceeding such Tranche A Lender’s Commitment; provided that the aggregate of all Tranche A Loans made on the Closing Date shall not exceed $15,710,054. Any unutilized Tranche A Lender’s Commitment outstanding immediately after the disbursement of the Tranche A Loans on the Closing Date shall terminate and not be reinstated.
Tranche A Loans. Subject to any prepayments permitted or required in accordance with Sections 1.05 and 1.08(b) hereof and Section 5.03 of the Security Agreement, the Borrower hereby promises and agrees to pay to the Administrative Agent, for account of the Tranche A Lenders, the Tranche A Loans evidenced by the Tranche A Notes on the following terms:
(i) the Borrower shall pay the aggregate principal amount of the Tranche A Loans on successive Tranche A Installment Payment Dates commencing with the first Tranche A Installment Payment Date and ending on the Maturity Date of the Tranche A Loans, all as set forth on the Tranche A Installment Payment Schedule, provided that the final installment of principal shall in any event for each Tranche A Loan be equal to the then remaining unpaid principal amount of such Tranche A Loan.
(ii) the Borrower shall pay interest accrued on each Tranche A Loan at the applicable Tranche A Interest Rate on the then outstanding principal amount of such Tranche A Loan. Interest on each Tranche A Loan shall be due and payable on each Interest Payment Date and on the date of any prepayment of principal on the Tranche A Loans, whether voluntary or mandatory; provided that all accrued and unpaid interest on the Tranche A Loans shall be due and payable on the final Tranche A Installment Payment Date.