Initial Draw definition

Initial Draw has the meaning ascribed to such term in Section 2.1(a). “Initial Term” has the meaning ascribed to such term in the Lease.

Initial Draw has the meaning ascribed to such term in Section 2.1(a). “Insurance Policies” has the meaning ascribed to such term in Section 3.12. “Interim DIP Order” has the meaning ascribed to such term in Section 3.15.

Initial Draw as defined in Section 2.1.2(a).

Examples of Initial Draw in a sentence

• The DIP Credit Agreement will contain conditions precedent to the effectiveness of the DIP Loan Documents and the availability of the DIP Loans at each applicable draw determined in accordance with the Documentation Principles, the satisfaction (or waiver) of which conditions precedent shall be determined by the Required DIP Commitment Parties (in connection with the Closing and the Initial Draw) or the Required DIP Lenders (in connection with any subsequent DIP Draw).

• A put option premium in an amount equal to 6.00% of the principal amount of the Backstop Commitments shall be paid in additional DIP Term Loans to the Backstop Parties on the Initial Draw Date, ratably based on their respective Backstop Commitments on the Initial Draw Date.

• Closing Fee: 4.00% of the principal amount of the DIP Term Facility shall be paid in additional DIP Term Loans to the Backstop Parties on the Initial Draw Date, ratably based on their respective Backstop Commitments on the Initial Draw Date, which Closing Fee shall be shared with the other Term Lenders pursuant to the Syndication Procedures.

• Beginning with the month immediately after the Effective Date and continuing through the thirty-sixth (36th) month after the Effective date, Borrower shall on each January 31st and July 31st after the Initial Draw pay to Lender an amount equal to the Interest due under Section 2.2(c) for the six (6) months immediately preceding the month.

• The principal amount of DIP Term Loans advanced on the Initial Draw Date will be deemed increased by an amount equal to the Put Option Premium and the Closing Fee.

More Definitions of Initial Draw

Initial Draw means the initial US$60 million draw on the December 2021 Debt Facility;

Initial Draw refers to Developer's first application for payment of Project Costs, which shall not occur before Bond Closing.

Initial Draw shall have the meaning set forth in Section 2.2.

Initial Draw means the initial US$60 million draw on the December 2021 Debt Facility; “Israel” means the State of Israel;

Initial Draw has the meaning ascribed to such term in Section 2.1(a). “Initial Term” has the meaning ascribed to such term in the Lease. “Insurance Policies” has the meaning ascribed to such term in Section 3.13.

Initial Draw means an amount approved by Lender. Subject to the terms and conditions hereinafter set forth, the proceeds of the Initial Draw may be used only for the payment of the Loan Fee, the payment of interest pursuant to Section 4.5 herein, the payment of expenses, charges, costs and fees pursuant to Section 8.10 herein, and the payment of such Hard Costs and Soft Costs as Lender, in its sole discretion, may specifically approve in writing.

Initial Draw shall have the meaning assigned to such term in Section 2.01.