Definition of Tranche 2 Borrowing


Tranche 2 Borrowing means a borrowing consisting of simultaneous Tranche 2 Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Tranche 2 Lenders pursuant to Section 2.01(b).

Examples of Tranche 2 Borrowing in a sentence

In addition, Borrowings and Letters of Credit also may be classified and referred to by Tranche (e.g., a Tranche 2 Borrowing).
Each Term Tranche 2 Borrowing shall correspond to the applicable installment of the Contract Price (as defined in the Rig 2 Construction Contract) as set forth on Schedule 2.01.
If the Company fails to specify a currency in a Committed Loan Notice requesting a Multicurrency Borrowing, then the Multicurrency Loans so requested shall be made in U.S. Dollars, and if the Company fails to specify a currency in a Committed Loan Notice requesting a Tranche 2 Borrowing, then the Tranche 2 Loans so requested shall be made in Euro.
Each Top-Up Tranche 2 Borrowing shall be in an aggregate amount not less than $1,000,000 and in integral multiples thereof.
Each Term Tranche 2 Borrowing shall be in an aggregate amount not less than $10,000,000 and in integral multiples of $1,000,000 in excess thereof.