Advance A Tranche B definition

Advance A Tranche B means an amount which, when aggregated with the amount of Advance A Tranche A (being $7,500,000) is equal to the lesser of (i) $16,000,000 and (ii) 77 per cent. of the Initial Market Value of the Ship A;
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Advance A Tranche B means that part of the Loan made or to be made available to Borrower A and not exceeding the relevant Maximum Advance Amount (or, as the context may require, the principal amount outstanding of that Advance at any relevant time);
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Examples of Advance A Tranche B in a sentence

  • Interest on the unpaid principal balance of each Advance shall accrue in the case of Advance A Tranche A from the first Drawdown Date and in the case of the Advance A Tranche B and Advance B from the second Drawdown Date and shall be due and payable quarterly in arrears commencing 3 months from the second Drawdown Date and quarterly thereafter until the Loan and all interest on and principal of the Loan shall have been paid in full.

Related to Advance A Tranche B

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Tranche B has the meaning assigned in Section 2.1(c)(i).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • 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.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Tranche A Facility means the aggregate of the Tranche A Commitments.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.