Examples of Incremental Tranche in a sentence
The Borrowers may make a maximum of three requests for an Incremental Revolving Commitment or Incremental Tranche prior to the Maturity Date.
Each Term Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Term Loans or participate in the Incremental Tranche and, if so, whether by an amount equal to, greater than, or less than its ratable portion (based on such Term Lender’s Applicable Percentage in respect of the Term Facility) of such requested increase.
Each Borrowing of Incremental Tranche B Term Loans under this Agreement shall be granted by the Lenders pro rata on the basis of their then-applicable Incremental Tranche B Term Loan Commitments.
United States 198,469 186,231Pitney Bowes Inc., Incremental Tranche Term B Loans, 6.49%, (1-monthUSD LIBOR + 5.50%), 1/07/25 .
If the Term Loans are increased or an Incremental Tranche is added in accordance with this Section, the Administrative Agent and the Borrowers shall determine the effective date (the “Term Increase Effective Date”) and the final allocation of such increase.
But, even if we view the matter in that light, the same considerations dictate that the cause of action does not exist.
Once advanced, Incremental Tranche B Term Loans shall be aggregated with Tranche B Term Loans and all such Loans shall be referred to as Tranche B Term Loans.
Borrower hereby certifies to the Administrative Agent and the Lenders that the obligations of the Borrower set forth in the Credit Agreement, as modified by this Amendment, other than the Incremental Tranche A Term Loan, the Tranche B-1 Term Loan and Tranche B-2 Term Loan, qualify as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
The applicable Borrower of any Incremental Tranche Loans shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, Incremental Tranche Loans on the Maturity Date for the related Incremental TL Tranche in Dollars (or such earlier date on which the Incremental Tranche Loans become due or are declared due in accordance with this Agreement).
For the avoidance of doubt, all Borrowers are jointly and severally liable for repayment obligations with respect to each of the Incremental Tranche Loans.