Borrowing Tranche definition
Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.
Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a Euro-Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period and which are denominated either in Dollars or in the same Optional Currency shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.
Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a Euro-Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche. Business Day shall mean any day other than a Saturday or Sunday or a legal holiday on which commercial banks are authorized or required to be closed for business in Pittsburgh, Pennsylvania and if the applicable Business Day relates to any Loan to which the Euro-Rate Option applies, such day must also be a day on which dealings are carried on in the London interbank market.
Examples of Borrowing Tranche in a sentence
If such Lender pays its share of the applicable Borrowing Tranche of Loans to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing Tranche of Loans.
More Definitions of Borrowing Tranche
Borrowing Tranche means specified portions of Loans consisting of simultaneous loans under the same Interest Rate Option, and in the case of Term SOFR Rate Loans, having the same Interest Period. For the avoidance of doubt, (i) all Revolving Credit Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche, (ii) all Term Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche and (iii) all Incremental Term Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.
Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a Term SOFR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.
Borrowing Tranche means specified portions of Loans consisting of simultaneous loans of the same Type, and in the case of Term Rate Loans, having the same Tranche Period. For the avoidance of doubt, Daily Rate Loans of the same Type shall be considered one Borrowing Tranche.
Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche. Business Day shall mean any day other than a Saturday or Sunday or a legal holiday on which commercial banks are authorized or required to be closed for business in Pittsburgh, Pennsylvania and if the applicable Business Day relates to any Loan to which the LIBOR Rate Option applies, such day must also be a day on which dealings are carried on in the London interbank market. Cash Collateral Account shall have the meaning assigned to that term in Section 4.8. Change in Law shall mean the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any Law, (b) any change in any Law or in the administration, interpretation or application thereof by any Official Body or (c) the making or issuance of any request, guideline or directive (whether or not having the force of Law) by any Official Body. Change of Control shall mean the occurrence of any of the following: (a) the failure of ▇▇▇▇▇ ▇▇▇▇▇ and/or any of the ▇▇▇▇▇ ▇▇▇▇▇ Family Entities, at any time, to own and control, directly or indirectly, of record and beneficially, voting securities or other interests constituting at least fifty-one percent (51%) of the votes entitled to be cast for the election of directors of the Borrower; or (b) within a period of twelve (12) consecutive calendar months, individuals who were directors of the Borrower on the first day of such period shall cease to constitute a majority of the board of directors of the Borrower unless such new directors were selected by the then-incumbent directors. Closing Date shall mean the Business Day on which the first Loan may be made, which shall be January 28, 2009. Code shall mean the Internal Revenue Code of 1986, as the same may be amended or supplemented from time to time, and any successor statute of similar import, and the rules and regulations thereunder, as from time to time in effect.
Borrowing Tranche means a disbursement of proceeds under the Loan pursuant to this Agreement and, where applicable, the renewal or conversion of any such disbursement or portion thereof pursuant to this Agreement.
Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a Euro-Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche. BUSINESS DAY shall mean any day other than a Saturday or Sunday or a legal holiday on which commercial banks are authorized or required to be closed for business in Pittsburgh, Pennsylvania and if the applicable Business Day relates to any Loan to which the Euro-Rate Option applies, such day must also be a day on which dealings are carried on in the London interbank market. CAPITAL LEASE shall mean, with respect to any Person, any lease of (or other agreement conveying the right to use) any real or personal property by such Person which, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of such Person. CASUALTY EVENT shall mean, with respect to any property or assets (including Property) of any Person, any loss of title with respect to Property or any loss of or damage to or destruction of, or any condemnation or other taking (including by any Official Body) of, such property or assets (including Property) for which such Person or any of its Subsidiaries receives insurance proceeds or proceeds of a condemnation award or other compensation; PROVIDED, however, that no such event shall constitute a Casualty Event if such proceeds or other compensation in respect thereof is less than $100,000. Casualty Event shall include but not be limited to any taking of any Property of any Loan Party or any part thereof, in or by condemnation or other eminent domain proceedings pursuant to any law, general or special, or by reason of the temporary requisition of the use or occupancy of any Property of any Loan Party or any part thereof, by any Official Body, civil or military. CERCLA shall have the meaning assigned to that term in Section 6.1.25.
Borrowing Tranche means a disbursement of proceeds under any Loan pursuant to this Agreement and the Agreed Upon Terms and Procedures.