Capital Tranche definition

Capital Tranche means specified portions of Capital outstanding as follows: (a) all Capital for which the applicable Yield Rate is determined by reference to the Term SOFR Rate with the same Yield Period shall constitute one Capital Tranche, (b) all Capital for which the applicable Yield Rate is determined by reference to Daily 1M SOFR shall constitute one Capital Tranche, and (c) all Capital for which the applicable Yield Rate is determined by reference to Base Rate shall constitute one Capital Tranche.
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Capital Tranche means specified portions of Capital outstanding as follows: (a) all Capital (or portions thereof) for which the applicable Yield Rate is determined by reference to Daily 1M SOFR shall constitute one Borrowing Tranche, (b) all Capital (or portions thereof) for which the applicable Yield Rate is determined by reference to Base Rate shall constitute one Borrowing Tranche, and (c) all Capital for which the applicable Yield Rate is determined by reference to the Term SOFR Rate with the same Yield Period shall constitute one Capital Tranche. “Cash Dominion Administration Account” means one or more deposit accounts established at PNC and at any time designated as a Cash Dominion Administration Account by the Administrative Agent. “Certificate of Beneficial Ownership” means, for the Seller, a certificate in form and substance acceptable to the Administrative Agent (as such form may be amended or modified by the Administrative Agent from time to time in its sole discretion), certifying, among other things, the Beneficial Owner of the Seller. “Change in Control” means the occurrence of any of the following: (a) Rackspace ceases to own, directly, 100.00% of the Equity Interests of the Seller free and clear of all Adverse Claims; (b) the Parent ceases to own, directly or indirectly, 100.00% of the Equity Interests of Rackspace or any Originator; or (c) a “Change in Control” (as defined in the First Lien Credit Agreement, as in effect on the Closing Date without giving effect to any amendment or modification thereto or any termination thereof) shall occur with respect to the Parent (other than under clause (a) of the definition thereof). “Change in Law” means the occurrence, after the Closing Date, 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, implementation or application thereof by any Official Body or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of Law) by any Official Body; provided that notwithstanding anything herein to the contrary, (x) the Xxxx- Xxxxx Xxxx Street Reform and Consumer Protection Act and all requests, rules, regulations, guidelines, interpretations or directives thereunder or issued in connection therewith (whether or not having the force of Law) and (y) all requests, rules, regulations, guidelines, interpretations or
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Examples of Capital Tranche in a sentence

  • On the Working Capital Maturity Date (or any acceleration thereof) the entire remaining unpaid principal balance of all Loans made under the Working Capital Tranche, together with all accrued and unpaid interest and all charges thereon, shall be due and payable in full.

  • The Bank will establish two tranches under the Facility--one tranche for the purposes stated in Section 1.5(a) hereof (the "Project Tranche") and the other tranche for borrowings to be used for purposes stated in Section 1.5(b) hereof (the "Working Capital Tranche").

  • Proceeds of Loans made under the Project Tranche shall be used solely for the purposes described in Section 1.5(a) and proceeds of Loans made under the Working Capital Tranche shall be used solely for the purposes described in Section 1.5(b).

  • Borrower may, with respect to a Loan made under the Working Capital Tranche, repay and reborrow in accordance with the terms and conditions hereof PROVIDED that no funds borrowed and repaid may be reborrowed unless the repayment was from sources other than proceeds from the Project.

  • Subject to any and all restrictions herein, the proceeds of the Loans made under the Working Capital Tranche shall be used by the Borrower to pay (or reimburse Borrower for cash expenditures of Borrower) for the cost of general overhead as well as interest and fees for this Facility.

  • The Borrower shall provide the applicable Extension Request at least ten (10) days prior to the date on which Lenders under the Existing Term Loan Tranche or Existing Working Capital Tranche, as applicable, are requested to respond, and shall agree to such procedures, if any, as may be established by, or acceptable to, the Administrative Agent, in each case acting reasonably to accomplish the purposes of this Section 2.15.

  • Notwithstanding the foregoing, (x) the Seller shall not make such an election if, as a result thereof, more than five Capital Tranches would exist and (y) each Capital Tranche accruing interest by reference to the Term SOFR Rate shall be not be less than $1,000,000 and shall be an integral multiple of $100,000.

  • Loans under both the Project Tranche and the Working Capital Tranche shall be available until the Working Capital Maturity Date, at which time the Working Capital Commitment (defined in Section 1.1(b) below) shall be terminated and the full amount of the Facility (subject to Section 1.4 hereof) shall thereafter be considered the Project Tranche and available only for Project Tranche purposes, as described in Section 1.5(a).

  • From and after September 9, 1996, until the Working Capital Maturity Date (whether by acceleration or otherwise), the Borrower agrees to pay interest in respect of the outstanding principal amount of each Loan made under the Working Capital Tranche at a floating rate per annum which shall be equal to the Base Rate in effect from time to time plus one-half percentage (0.5%) point and shall increase and decrease as and when and in the amount which the Base Rate shall increase or decrease.

  • Procedures and Limitations Upon timely fulfillment of all applicable conditions as set forth in this Agreement, but subject to the limitations in Section 2.2, the Agent (for and on behalf of the Applicable Lenders under the Syndicate Tranche) and the Operating Lender (under the Working Capital Tranche) each agree to issue Letters of Credit on any Business Day for the account of a Borrower.

Related to Capital Tranche

  • Capital Transaction means any transaction not in the ordinary course of business which results in the Company’s receipt of cash or other consideration other than Capital Contributions, including, without limitation, proceeds of sales or exchanges or other dispositions of property not in the ordinary course of business, financings, refinancings, condemnations, recoveries of damage awards, and insurance proceeds.

  • capital transactions means any of the following: the sale of all or any part of the assets of the Company; the refinancing of mortgages or other liabilities of the Company; the receipt of insurance proceeds; and any other receipts or proceeds are attributable to capital. (Check One) ☐ - SINGLE-MEMBER: A “Capital Account” for the Member shall be maintained by the Company. The Member's Capital Account shall reflect the Member’s capital contributions and increases for any net income or gain of the Company. The Member’s Capital Account shall also reflect decreases for distributions made to the Member and the Member’s share of any losses and deductions of the Company.

  • Initial Tranche means the first Tranche of a Series of ETP Securities issued.

  • Interim Capital Transactions means the following transactions if they occur prior to the Liquidation Date: (a) borrowings, refinancings or refundings of indebtedness and sales of debt securities (other than Working Capital Borrowings and other than for items purchased on open account in the ordinary course of business) by any Group Member; (b) sales of equity interests by any Group Member (including the Common Units sold to the Underwriters pursuant to the exercise of the Over-Allotment Option); and (c) sales or other voluntary or involuntary dispositions of any assets of any Group Member other than (i) sales or other dispositions of inventory, accounts receivable and other assets in the ordinary course of business, and (ii) sales or other dispositions of assets as part of normal retirements or replacements.

  • Incremental Term Loan Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain term loans to one or more Borrowers.

  • Total Transfer Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to the sum of the Interest Transfer Amount and the Principal Transfer Amount for such Undercollateralized Group.

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Incremental Term Loan Commitments has the meaning set forth in Section 2.24.

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Incremental Term Loans has the meaning specified in Section 2.14(a).

  • Incremental Term Loan has the meaning set forth in Section 2.14(b).

  • Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Incremental Term Commitments has the meaning set forth in Section 2.14(a).

  • Tranche the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Incremental Term Loan Lender shall have the meaning provided in Section 2.15(b).

  • 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).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Incremental Term Lenders (a) on any Increased Facility Activation Date relating to Incremental Term Loans, the Lenders signatory to the relevant Increased Facility Activation Notice and (b) thereafter, each Lender that is a holder of an Incremental Term Loan.

  • Supplemental Transfer Date For any Supplemental Transfer Agreement, the date the related Supplemental Mortgage Loans are transferred to the Trust Fund pursuant to the related Supplemental Transfer Agreement.

  • Terminating Capital Transaction means any sale or other disposition of all or substantially all of the assets of the Partnership or a related series of transactions that, taken together, result in the sale or other disposition of all or substantially all of the assets of the Partnership.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Class A Interest Percentage As to any Distribution Date and any Class of Class A Certificates, the percentage calculated by dividing the Interest Accrual Amount of such Class (determined without regard to clause (ii) of the definition thereof) by the Class A Interest Accrual Amount (determined without regard to clause (ii) of the definition of Interest Accrual Amount).

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.