Tranche L definition
Examples of Tranche L in a sentence
In respect of a Ship, the undertakings in this Clause 26 (Ship Undertakings) shall apply and remain in force on and from the first Utilisation Date in the case of the Existing Ships and the Utilisation Date of Tranche L in the case of Ship L and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.
The Borrower may from time to time permanently reduce, in whole or in part, the Commitment and the Tranche FX Commitment, the Tranche L Commitment and/or the Tranche S Commitment then in effect by submitting a Commitment Decrease Request setting forth the proposed Commitment and the proposed Tranche FX Commitment, Tranche L Commitment and/or Tranche S Commitment.
In respect of a Ship, the undertakings in this Clause 25 (Insurance Undertakings) shall apply and remain in force on and from the first Utilisation Date in the case of the Existing Ships and the Utilisation Date of Tranche L in the case of Ship L and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.
The Liens granted by the Borrower shall terminate and all rights of the Collateral Agent to the Collateral shall revert to the Borrower when (a) the Collateral Agent has confirmed in writing that the Commitment, the Tranche FX Commitment, the Tranche L Commitment and the Tranche S Commitment shall have terminated whether on the Scheduled Maturity Date or otherwise and (b) all Secured Obligations shall have been paid in full.
The Borrower may request an increase in the Commitment and the Tranche FX Commitment, Tranche L Commitment, and/or the Tranche S Commitment then in effect by submitting a Commitment Increase Request setting forth such proposed Commitment and Tranche FX Commitment, Tranche L Commitment, and/or Tranche S Commitment not less than [Redacted].
Without prejudice to Section 1.04, the Borrower may request a reallocation of the Commitment and the Tranche FX Commitment, Tranche L Commitment and/or the Tranche S Commitment then in effect hereunder against the Commitment and the Tranche FX Commitment, Tranche L Commitment and/or the Tranche S Commitment then in effect under any Affiliated Facility by submitting a Reallocation Request setting forth such proposed reallocation not less than [Redacted].
Notwithstanding anything to the contrary in the Amended Credit Agreement, the initial Interest Period with respect to each of the Tranche L Term Loans shall be the applicable Interest Period set forth therefor in the notice of borrowing delivered by the Borrower to the Agent pursuant to Section 4(e) of this Agreement.
The Tranche L Upfront Fees shall be payable on, and subject to, the Amendment No. 17 Effective Date in immediately available funds and, once paid, shall not be refundable under any circumstances.
On the Amendment No. 17 Effective Date, the Borrower shall pay to the Agent, for the account of each Tranche L Term Lender, a fee (the “Tranche L Upfront Fees”) in an amount equal to 0.25% of the aggregate principal amount of the Tranche L Term Loans of such Lender on the Amendment No. 17 Effective Date (which Tranche L Upfront Fees may be payable in the form of original issue discount, at the option of GS).
As used herein, the term “Tranche L Transactions” means, collectively, (a) the execution, delivery and performance by each Loan Party of this Agreement, (b) the Borrowing of the Tranche L Term Loans hereunder and the use of the proceeds thereof in accordance with the terms of the Amended Credit Agreement and this Agreement and (c) the payment of fees and expenses incurred in connection with the foregoing (the “Transaction Costs”).