Examples of Tranche 2 Commitment in a sentence
Each such Lender’s obligation to fund the Term Loan Tranche 2 shall be limited to such Lender’s Term Loan Tranche 2 Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded.
Under the terms of the financing agreement, the Group is entitled to receive quarterly payments of approximately 1.23% of Incoa gross revenue following funding of the Anglo Pacific Tranche 2 Commitment.
The Tranche 2 Commitment is subject to a number of conditions, including Incoa’s successful construction and operation of the project, which is expected to achieved in early 2022.
Within the limits of each Tranche 2 Lender’s Tranche 2 Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.02, prepay under Section 2.06, and reborrow under this Section 2.02.
In respect of the Tranche 2 Commitment Amount, the Borrower shall pay to the Agent, for the account of the Lenders in accordance with their respective Proportionate Shares, a fee (the “ Tranche 2 Undrawn Fee”) accruing at the per annum rate of one half of one percent (0.50%) on the Tranche 2 Loan Commitment Amount.