Tranche M definition

Tranche M means that part of the Loan to be advanced in one Drawing to the Borrower either concurrently with the Delivery Date of Vessel M or, if the relevant Collateral Owner has already purchased Vessel M from the relevant Seller, to refinance the Purchase Price of Vessel M, but in any event no later than the Availability Termination Date which shall not exceed the Maximum Sum for Vessel M in connection with the purchase of Vessel M or, where the context permits, the amount advanced and for the time being outstanding.
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Tranche M means that part of the Loan made or to be made available to the Borrowers to finance the lower of (i) 60 per cent. of the Fair Market Value of Ship M and (ii) $18,313,000.
Sample 1
Tranche M means that part of the Loan made or to be made available to the Borrowers in an amount not exceeding the relevant Tranche Amount to refinance the Existing Indebtedness over Ship M under Existing Agreement C or, as the case may be, the Existing Indebtedness over the relevant Substitute Ship of Ship M under the relevant Substitute Ship Existing Agreement, and for general corporate purposes or (as the context may require) the principal amount of such borrowing outstanding for the time being.
Sample 1

Examples of Tranche M in a sentence

  • On June 3, 2016, the Company issued $3.0 million Tranche K secured debenture, on July 1, 2016 it issued $5.0 million Tranche L-1 secured debenture, on July 26, 2016 it issued $3.0 million Tranche L-2 secured debenture, and on August 5, 2016 it issued $3.0 million Tranche M secured debenture to Glencore.

  • Subscription Periods For Senior Management Share Units issued in the Discretionary Period 2014 (Tranche M), the Subscription Period is 5 January 2017 until 31 January 2017, so that the Shares in question will, to the extent the preconditions for share subscription are fulfilled, be issued and delivered during January and February 2017, unless restricted by Section 4 below, in which case the Shares shall be delivered no later than 15 March 2018.

  • The Borrowers will use the proceeds of the Tranche M Term Loans (i) to repay all of the outstanding Tranche H Term Loans (other than Tranche M Converted Tranche H Term Loans), (ii) repay certain Revolving Credit Loans outsanding on the Fourth Amendment and Restatement Effective Date and (iii) for any purpose not prohibited hereunder; provided that neither the Administrative Agent nor any Lender shall have any responsibility as to the use of any of such proceeds.

  • The digital simulator can be used either as an independent simulation system (i.e., no hardware in the loop) to run in real time or non real time (but still many times faster than typical PC based simulators), or with hardware under test (necessarily in real-time).

  • You shall not access, use or click on our Website and/or use or attempt to use the Services in any manner except as expressly permitted in these Terms.

  • Tranche M Term Loans may from time to time be Eurodollar Loans or Base Rate Loans as determined by the Borrowers and notified to the Administrative Agent in accordance with Sections 2.09 and 4.05.

  • The Borrower hereby jointly and severally agree to repay to each Lender with Tranche H Term Loans (other than Tranche M Converted Tranche H Term Loans) the full principal amount of such Tranche H Term Loans together with all accrued and unpaid interest thereon on the Fourth Restatement Effective Date.

  • Tranche M secured debenture in the amount of $3.0 million was issued subsequent to quarter end on August 5, 2016.

Related to Tranche M

  • Tranche B has the meaning assigned in Section 2.1(c)(i).

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Tranche the collective reference to Eurodollar Loans the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day).

  • Tranche 2 has the meaning set forth in Section 2.2(a)(ii).

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

  • Tranche 1 January 1, 2015 through December 31, 2015, which is allotted 25% of the Target Award,

  • Tranche C Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TFA pursuant to Section 2.1(c) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche C Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche A has the meaning assigned in Section 2.1(c)(i).

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Tranche C Lender means a Lender with a Tranche C Commitment or an outstanding Tranche C Term Loan.

  • Tranche B Facility means the aggregate of the Tranche B Commitments.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Tranche B Commitment means, as to each Lender, its obligation to (a) make Committed Loans to TCCI pursuant to Section 2.1(b) and (b) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.1 as its “Tranche B Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche C Term Loan as defined in Section 2.1.

  • Tranche A Commitment means, with respect to each Lender, the commitment of such Lender to make Tranche A Loans hereunder as set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender assumed its Tranche A Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09, (b) increased from time to time pursuant to Section 2.26 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Tranche B Maturity Date means May 8, 2009, or, if such day is not a Business Day, the next preceding Business Day.

  • First Tranche means the amount of the Financing allocated to the category entitled “First Tranche” in the table set forth in Part B of Schedule 1 to this Agreement.

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Tranche B Term Loan Lender each Lender that has a Tranche B Term Loan Commitment or is the holder of a Tranche B Term Loan.