Tranche 1 definition
Tranche 1 has the meaning set forth in Section 2.2(a)(i).
Tranche 1. January 1, 2015 through December 31, 2015, which is allotted 25% of the Target Award,
Tranche 1 means, in respect of any Financial Year, an amount equal to the lesser of (i) $500,000,000 and (ii) the Adjusted Global Net Income for such Financial Year less the sum of (w) the Sempra Member Group’s Unallocated Preferred Return, plus (x) the RBS Member Group’s Unallocated Preferred Return, plus (y) the Sempra Member Group’s Preferred Return, plus (z) the RBS Member Group’s Preferred Return; provided that, with respect to any Financial Year that is less than twelve (12) calendar months (including for purposes of calculations pursuant to Clause 13.1.3 or 16.3), the amount set forth in clause (i) of this definition shall be Prorated;
Examples of Tranche 1 in a sentence
On the Closing Date, the Company shall issue the number of Shares to Investor set forth on the signature page to this Subscription Agreement, and shall subsequently cause such Shares to be registered in book entry form in the name of Investor on the Company’s share register; provided, however, that the Company’s obligation to issue the Shares to Investor is contingent upon the Company having received the proceeds of Tranche 1 pursuant to the LSA and the Supplement.
Lender shall fund the Tranche 1 Commitment in the aggregate amount of Seven Million Five Hundred Thousand Dollars ($7,500,000) on the Closing Date.
More Definitions of Tranche 1
Tranche 1 means the amount of [**] to be paid to the Guarantor to be applied in repayment of the loan in the same amount made by the Guarantor to the Borrower to enable the Borrower to pay part of the second pre-delivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;
Tranche 1 means the Equivalent Amount of [**] being the difference between the Equity and the amount of the first pre-redelivery instalment due by the Borrower to the Builder under the Building Contract to be advanced on a Drawdown Date by the Lenders by way of their Contributions thereto;
Tranche 1 means the amount of [*] or the Equivalent Amount thereof to be applied in payment of the balance of the third pre-delivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;
Tranche 1 means the loan made to the Company by the Lender in separate advances in the aggregate amount of $3,000,000, as evidenced by the Original Note.
Tranche 1 the “first” segment consisting of 2,000,000 shares exercisable under the Series B Warrant as hereby amended.
Tranche 1 means the initial procurement for the energy storage
Tranche 1 warrant shares shall in no event be exercisable after 5:00 p.m., New York Time, November 30, 2015.