Definition of Tranche B Principal Payment Date


Tranche B Principal Payment Date means each of the Interest Payment Dates occurring in the 54th, 60th and 66th month after the date hereof and the Tranche B Scheduled Maturity Date; provided, however, that notwithstanding anything contained herein to the contrary, the Tranche B Principal Payment Date that would otherwise have been scheduled to occur on the Interest Payment Date occurring in the 60th month after the date hereof shall instead be scheduled to occur on the first (1st) Business Day following such Interest Payment Date.
Sample 1 Sample 2

Examples of Tranche B Principal Payment Date in a sentence

The Borrower agrees to pay to the Administrative Agent for the account of each Tranche B Lender the full principal amount of the Tranche B Loans in seven equal consecutive quarterly installments, one payable on each Tranche B Principal Payment Date; provided that on the Final Maturity Date the then aggregate unpaid principal amount of the outstanding Tranche B Loans shall be paid in full.