Common use of Tranche B Facility Clause in Contracts

Tranche B Facility. Subject to the terms of this Agreement, the Lender makes available to the Borrower during the Availability Period the Tranche B Facility in United States Dollars in an amount up to the Tranche B Facility Commitment. For the avoidance of doubt, multiple Utilizations are permitted in respect of the Tranche B Facility, provided that (i) the aggregate amount of the Tranche B Facility that the Borrower can utilize under this Agreement shall not exceed the Tranche B Facility Commitment and (ii) the amount for each Utilization of the Tranche B Facility shall not exceed the aggregate amount of cash deposited in the RMB Charged Account and the US$ Charged Account at the time of such Utilization of the Tranche B Facility Commitment.

Appears in 2 contracts

Sources: Facility Agreement (iQIYI, Inc.), Facility Agreement (Pacific Alliance Group LTD)