Tranche B Bank definition
Examples of Tranche B Bank in a sentence
The Borrower hereby promises to pay to the Administrative Agent for the account of each Tranche B Bank the Tranche B Accommodations Outstanding together with all accrued interest and Fees and all other amounts payable to the Tranche B Banks in connection with this Agreement, on the Tranche B Commitment Termination Date.
On the Refunding Date, each Tranche B Bank shall transfer to the Swing Lender, in immediately available funds, such Tranche B Bank's Swing Loan Refund Amount, and upon receipt thereof the Swing Lender shall deliver to such Tranche B Bank a Swing Loan participation certificate dated the date of the Swing Lender's receipt of such funds and in the Swing Loan Refund Amount of such Tranche B Bank.
Any cancellation in part of the Total Tranche B Commitments shall be applied against the Tranche B Commitment of each Tranche B Bank pro rata.
Each Tranche B Bank may fund the Tranche B Loans in any manner whatsoever and for this purpose may enter into contractual arrangements with other banks or financial institutions (each a "FUNDING ENTITY").
Each Tranche B Bank severally agrees to participate with the LC Bank in the extension of credit arising from the issuance of the Secondary Letters of Credit in an amount equal to such Bank's Proportionate Share of the Stated Amount of each Secondary Letter of Credit and the issuance of a Secondary Letter of Credit shall be deemed a confirmation to the LC Bank of such participation in such amount.