Definition of 14% Sub-Tranche


14% Sub-Tranche means any Sub-Tranche for which the Lender or the Administrative Agent has delivered a written notice to the Borrower on or prior to the date of funding of a proposed Sub-Tranche designating the Tranche as a 14% Sub-Tranche.

Examples of 14% Sub-Tranche in a sentence

Unless the Lender or the Administrative Agent shall send written notice to the Borrower on or before the date of funding a Tranche that it is designating the types of Sub-Tranches comprising the Tranche, such Tranche shall be deemed to have been funded entirely with a 14% Sub-Tranche.