Tranche I definition

Tranche I means the credit facility provided pursuant to Section 2.1 to or for the benefit of the Company by the Banks with a Tranche I Commitment, which such facility shall consist of Loans (and participations in Swingline Loans) in the currencies referenced under the heading “Tranche I” on Schedule 1.1 and shall be in the maximum aggregate amount of the Tranche I Commitments of such Banks, as adjusted from time to time pursuant to the terms hereof.

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Tranche I means that part of the Loan, up to the Maximum Tranche I Amount, to be advanced to the Borrowers for the purpose of financing part of the purchase price of Vessel I, or when the context permits, the amount advanced and for the time being outstanding.

Tranche I means the advances pursuant to Section 2.1(a)(i).

Examples of Tranche I in a sentence

Notwithstanding the foregoing, if INVH TSR (i.e., total shareholder return) for the Performance Period is negative, the Tranche I Performance Vesting RSUs shall not vest at a level greater than target.
Subject to Section 8 and unless terminated as hereinafter provided, the Option shall become exercisable with respect to 20% of the Tranche I Option Shares, 20% of the Tranche II Option Shares and 20% of the Tranche III Option Shares on each of the first five anniversaries of the Date of Grant if Optionee shall have remained in the continuous employ of the Company or any Subsidiary as of each such date.
The notice shall also state whether Optionee is exercising Tranche I Option Shares, Tranche II Option Shares or Tranche III Option Shares pursuant to such notice.
Except as provided in subsection 2.17(b) or 2.18, each payment (including each prepayment) by the Borrower on account of principal of and interest on the Revolving Credit Loans, Tranche I Term Loans or Tranche II Term Loans shall be made pro rata among the Lenders according to the respective outstanding principal amounts of the Revolving Credit Loans, Tranche I Term Loans or Tranche II Term Loans then held by the Lenders.
Notwithstanding any other term of this Agreement, Borrower shall have no obligation to accrue or pay Interest or any other interest to Borrower on or related to the Tranche I Loan at any time.

More Definitions of Tranche I

Tranche I is defined in Section 2.1.2(a).

Tranche I means that part of the Loan made or to be made available to the Borrowers to finance up to 65 per cent. of the Fair Market Value of Ship I.

Tranche I means the Invitation for Application issued by M/s Indian Renewable Energy Development Agency Limited (IREDA), vide Application No. TS- 22019(11)/1/2021-IREDA, including subsequent amendments and clarifications, thereto.

Tranche I means that part of the Loan to be advanced in one Drawing to the Borrower either concurrently with the Delivery Date of Vessel I or, if the relevant Collateral Owner has already purchased Vessel I from the relevant Seller, to refinance the Purchase Price of Vessel I, but in any event no later than the Availability Termination Date which shall not exceed the Maximum Sum for Vessel I in connection with the purchase of Vessel I or, where the context permits, the amount advanced and for the time being outstanding.

Tranche I means one (1) term loan in the principal amount equal to Fifteen Million Dollars ($15,000,000).

Tranche I has the meaning set forth in Section 2.1(a).

Tranche I means an amount of USD 10,000,000 for the purpose set out in Clause 3.1 a).