Tranche 3 Borrowing Date definition

Tranche 3 Borrowing Date means the date on which the Tranche 3 Loans are made pursuant to the terms and conditions hereof.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Tranche 3 Borrowing Date means the Business Day on which the Tranche 3 Loan hereunder is made, which shall be (x) no sooner than the date on which each of the conditions precedent set forth in Section 6.03 shall have been satisfied and (y) no later than March 31, 2020.

Tranche 3 Borrowing Date means the date on which the Tranche 3 Loans are made pursuant to the terms and conditions hereof. “Tranche 3 Borrowing Date Certificate” has the meaning set forth in Section 6.03(c).

Examples of Tranche 3 Borrowing Date in a sentence

• The obligation of each Lender to make its Tranche 3 Loan on the Tranche 3 Borrowing Date shall be subject to the prior making of the Tranche 1 Loan on the Tranche 1 Borrowing Date, the prior making of the Tranche 2 Loan on the Tranche 2 Borrowing Date, the delivery of a Borrowing Notice as required pursuant to Section 2.02 and the prior or concurrent satisfaction (or waiver thereof by the Agent) of each of the conditions precedent set forth below in this Section 6.03.

• All documents and agreements required to be appended to the Tranche 3 Borrowing Date Certificate, if any, shall be in form and substance reasonably satisfactory to the Administrative Agent, shall have been executed and delivered by the requisite parties, and shall be in full force and effect.

• The Borrower shall have paid to the Agent for its account and the account of each Lender, the Undrawn Fees accrued through the Tranche 3 Borrowing Date, and all other fees, reasonable and documented out-of-pocket costs and expenses, if any, due and payable pursuant to Section 14.03 (including the Agent’s and the Lenders’ reasonable and documented out-of-pocket legal fees and expenses).

• The Tranche 3 Borrowing Date shall have occurred on or before September 30, 2020.

• The Administrative Agent shall have received evidence satisfactory to it that, both immediately before and after giving effect to the Borrowing on the Tranche 3 Borrowing Date, the Borrower is in compliance with the covenant set forth in Section 10.01.

• The Tranche 3 Borrowing Date shall have occurred on or before June 30, 2023.

• The Administrative Agent shall have received a Note in favor of each Lender for the Tranche 3 Loan being made by it on the Tranche 3 Borrowing Date, duly executed and delivered by a Responsible Officer of the Borrower.

• The Tranche 3 Undrawn Fee shall be payable monthly in arrears on each Payment Date occurring after the Closing Date until the Payment Date for the earlier to occur of (i) the month ending June 30, 2022 if the Tranche 2 Borrowing Date has not occurred, (ii) the Tranche 3 Borrowing Date and (iii) the month ending June 30, 2023.

• The Lenders shall have received a pro forma consolidated balance sheet of the Borrower and its Subsidiaries as of each Tranche 3 Borrowing Date, prepared in accordance with GAAP applied consistently with the Borrower’s previous audited financial statements, giving effect to the Borrowing of the applicable Tranche 3 Loans and the application of the proceeds thereof.

• The obligation of each Lender to make its Tranche 4 Loan on the Tranche 4 Borrowing Date shall be subject to the (i) prior making of each of the Initial Loan on the Closing Date, the Delayed Draw Loan on the Delayed Draw Date and the Tranche 3 Loan on the Tranche 3 Borrowing Date, (ii) the delivery of a Borrowing Notice as required pursuant to Section 2.02(a), and (iii) the prior or concurrent satisfaction of each of the conditions precedent set forth below in this Section 6.04.

More Definitions of Tranche 3 Borrowing Date

Tranche 3 Borrowing Date means the date of the Borrowing of the Tranche 3 Loan hereunder, which shall be no sooner than the date on the conditions precedent set forth in Section 6.03 shall have been satisfied for such Borrowing.

Tranche 3 Borrowing Date means the date on which the Tranche 3 Loan is made pursuant to the terms and conditions hereof. “Tranche 3 Loan” has the meaning set forth in the first recital hereto.

Tranche 3 Borrowing Date means, as the context may require, either (i) the date of the initial Borrowing of Tranche 3 Loans hereunder, which shall be no sooner than the date on which the Amendment No. 1 Effective Date shall have occurred and each of the conditions precedent set forth in Section 6.03 shall have been satisfied for such Borrowing, (ii) the date of the second Borrowing of Tranche 3 Loans hereunder, which shall be after the initial Borrowing of Tranche 3 Loans and no sooner than the date on which each of the conditions precedent set forth in Section 6.03 shall have been satisfied for such Borrowing, or (iii) each of the foregoing dates.

Tranche 3 Borrowing Date means the date on which a Tranche 3 Loan is made pursuant to the terms and conditions hereof. “Tranche 3 Loans” has the meaning set forth in the third recital hereto. “Transactions” means the negotiation, preparation, execution, delivery and performance by each Obligor of this Agreement and the other Loan Documents to which such Obligor is (or is intended to be) a party, the making of the Loans hereunder, and all other transactions contemplated pursuant to this Agreement and the other Loan Documents. “Treasury Rate” means, for the purpose of calculating any Make-Whole Amount, the yield to maturity implied by the yield(s) for the most recently issued actively traded on-the-run U.S. Treasury securities as quoted on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets as of approximately 5:00 p.m. (New York City time) on the second Business Day immediately preceding the date of any repayment or prepayment that is the subject of such Make-Whole Amount, in respect of that period which is mathematically closest in duration to the actual period over which such determination is to be assessed for the purposes of making a present value calculation. The