Tranche 1 Advance definition

Tranche 1 Advance means an advance by a Lender pursuant to its Tranche 1 Commitment to the Borrower as part of a Borrowing.
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Tranche 1 Advance has the meaning assigned to such term in Section 2.2(a).
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Tranche 1 Advance has the meaning set forth in Section 2.2(a)(i)
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Examples of Tranche 1 Advance in a sentence

  • To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request at least three (3) Business Days before the proposed Advance Date (other than the Tranche 1 Advance to be made on the Closing Date, for which Borrower shall complete, sign and deliver an Advance Request at least one (1) Business Day prior to the Closing Date) to Agent.

  • Interest shall accrue from the date of the Term Loan Tranche 1 Advance at the rate specified in Section 2.3, and shall be payable monthly on the 11th day of each month so long as the Term Loan Tranche 1 Advance is outstanding.

  • The Tranche 1 Advance shall be used to repay Borrower’s indebtedness to Oxford Finance LLC.

  • Borrower may prepay the Term Loan Tranche 1 Advance without penalty or premium.

  • The Term Loan Tranche 1 Advance, once repaid, may not be reborrowed.

  • If the Performance Milestone is achieved, for the Tranche 1 Advance and Tranche 2 Advance, the Tranche 1 Additional Interest Only Period and the Tranche 2 Interest Only Period shall be extended to eighteen (18) monthly payments, and the Tranche 1 Amortization Period and the Tranche 2 Amortization Period shall be shortened to twenty-four (24) equal payments of principal and interest.

  • Borrower may prepay the Tranche 1 Advance in accordance with Section 1.02(e)(i).

  • Additionally, each Lender’s Tranche 1 Commitment will be permanently reduced upon such Lender making any Tranche 1 Advance and each Lender’s Tranche 2 Commitment will be permanently reduced upon such Lender making any Tranche 2 Advance, in each case by the amount of such Advance.

  • Subject to the terms and conditions of this Loan Agreement, the Lenders agree to advance to Borrower (the “Tranche 2 Advance”, and together with the Tranche 1 Advance, each an “Advance”) on or within 1 Business Day of Closing, a term loan in an aggregate principal amount of Eight Million Eight Hundred Thousand Dollars ($8,800,000).

  • Subject to and upon the terms and conditions of this Agreement, on the Closing Date, Bank agrees to make one (1) Term Loan Tranche 1 Advance to Borrower in an amount equal to the Term Loan Tranche 1.


More Definitions of Tranche 1 Advance

Tranche 1 Advance means any Acquisition Facility Advance made based upon a Borrowing Base comprised of 60.01% to 65.00% of Eligible Inventory and Foreign Eligible Inventory and 85% of Eligible Receivables and Foreign Eligible Receivables as provided herein.
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Tranche 1 Advance is defined in Section 2.1.1(a).
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Tranche 1 Advance and "Tranche 2 Advance" respectively contained therein and to add the following definitions in lieu thereof:
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Tranche 1 Advance means an advance made or to be made by the Banks under Tranche 1.
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Tranche 1 Advance has the meaning set forth in Section 2.2(a)(i). “Tranche 1 Draw Period” means the period beginning on the date of Xxxxxxxx’s achievement of the VALOR-CKD Milestone and continuing through December 31, 2022. “Tranche 1 Facility Charge” means $62,500 which is payable to Lender in accordance with Section 4.2(f), subject to funding of the Tranche 1 Advance.
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Tranche 1 Advance means the advance by MPT Foothill Lender to Alta Newport in the amount of Fifty- One Million Two Hundred Sixty-Six Thousand Seven Hundred and No/100 Dollars ($51,266,700.00), as evidenced by and further defined in the Foothill Mortgage Loan Note.
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Related to Tranche 1 Advance

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Revolving Advance has the meaning given in Section 2.1.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

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

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Term Loan as defined in Section 2.1.

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

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • Equipment Advance is defined in Section 2.1.1.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • Agent Advance shall have the meaning provided in Section 2.01(e).