Motion carried.18-0102Motion by Howell, second by Buchholz to approve the minutes from the December meeting.
Draw Period is the period of time from the Effective Date through the earlier to occur of (a) March 31, 2012 or (b) an Event of Default.”
Second Draw Period is the period commencing on the date of the occurrence of the Term B Draw Event and ending on the earlier of (i) December 31, 2015 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on the date of the occurrence of the Term B Draw Event an Event of Default has occurred and is continuing.
Draw Date means, with respect to any Distribution Date, the second Business Day immediately preceding such Distribution Date.
Drawdown Period means, in relation to an Advance, the period commencing on the date of this Agreement and ending on the relevant Termination Date or the period ending on such earlier date (if any) on which (a) the aggregate amount of all Advances is equal to the Commitment or (b) the Commitment is reduced to zero pursuant to clauses 4.3, 10.2 or 12 or (c) Delivery of the Ship relevant to such Advance occurs;
Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.
Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.
Delayed Draw Term Loan has the meaning specified in Section 2.01(b).
Non-Extension Advance means an Advance made pursuant to Section 2.02(b).
Loan Period means with respect to any LIBOR Rate Loan, the period commencing on such LIBOR Rate Loan’s Funding Date, the date of the Conversion of any Base Rate Loan into such LIBOR Rate Loan or the date of the Continuation of such LIBOR Rate Loan for a new Loan Period and ending one week or one, two, three or six months thereafter as selected by the Borrower pursuant to Section 2.2(a); provided, however, that:
Term Loan Installment Date means any Term B Loan Installment Date or any Incremental Term Loan Installment Date.
Delayed Draw Funding Date means the date occurring on or after the Effective Date upon which all of the conditions to funding the Delayed Draw Term Loan set forth in Section 6.02 are satisfied and the Delayed Draw Term Loan is funded.
Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.
Applied Non-Extension Advance has the meaning assigned to such term in Section 2.06(a).
Delayed Draw Term Loans has the meaning as set forth in Section 2.5(a).
Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.
Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.
Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.
Equipment Advance is defined in Section 2.1.1.
Incremental Term Loan Installment Date shall have, with respect to any Class of Incremental Term Loans established pursuant to an Incremental Assumption Agreement, the meaning assigned to such term in Section 2.10(a)(ii).
Revolving Facility Termination Date means the earlier of (i) December 20, 2026, or (ii) the date that the Revolving Commitments have been terminated pursuant to Section 8.02.
Tranche A Advance has the meaning specified in Section 2.01(a).
Initial Term Loan Facility means the Initial Term Loan Commitments and the provisions herein related to the Initial Term Loans.
Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).
Second Extended Maturity Date has the meaning set forth in Section 2.10.
Loan Advance The meaning specified in Section 2.2(a).
Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.