PSL Tranche definition

PSL Tranche has the meaning assigned to that term in the Sale Agreement. “Purchase Date” has the meaning assigned to that term in the Sale Agreement. “Release Date” has the meaning assigned to that term in the Sale Agreement. “Reserve Amount” has the meaning assigned to that term in the Sale Agreement.
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PSL Tranche means the percentage of PSL Revenues sold pursuant to this Agreement on a Purchase Date as set forth in the applicable Notice of Sale, including a Minimum Monthly PSL Tranche, a Processing Costs PSL Tranche, the Initial PSL Tranche, any Upsize PSL Tranche and the Final Purchase but excluding (except in the case of the Final Purchase) any Unsold PSL Tranche; provided, however, that the Initial PSL Tranche shall be deemed to be 100% of the Initial PSL Revenues and the Initial PSL Tranche shall be excluded from calculating the total percentage of PSL Revenues sold pursuant to this Agreement on any Purchase Date other than the Initial Purchase Date.
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Examples of PSL Tranche in a sentence

  • The Seller hereby represents that the Purchaser or the Collateral Agent has advised the Seller that following the sale of the PSL Tranche contemplated by this Notice of Sale, the aggregate cumulative principal amount borrowed by the Purchaser under the Credit Agreement for the purchase of PSL Tranches will be $ [Not to exceed $[[ ] million]].

  • For the avoidance of doubt, all amounts deposited into the Clearing Account in respect of a Processing Costs PSL Tranche shall be subject to a sweep into the Holding Account in accordance with Section 3.03 hereof.

  • The Purchaser agrees to pay the Seller with respect to any PSL Tranche of PSL Revenues purchased by the Purchaser from the Seller on each Purchase Date, the Purchase Price.

  • The Seller shall not commingle any collections related to any PSL Tranche of PSL Revenues sold hereunder at any time with any other funds, except with respect to funds received in the Clearing Account and transferred to the Holding Account in accordance with the terms hereof and in the Authority PSL Account Agreement.

  • The Seller agrees to deliver to the Purchaser (with a copy thereof delivered to the Calculation Agent and the Collateral Agent) a Notice of Sale once per calendar month and, pursuant to such monthly Notice of Sale, the Seller shall sell to the Purchaser a PSL Tranche equal to or greater than the Minimum Monthly PSL Tranche plus the Processing Costs PSL Tranche.

  • The Seller hereby represents that, based on the information provided by the Purchaser or the Collateral Agent, that the total PSL Tranche to be sold to the Purchaser on the Purchase Date is equal to or greater than such Minimum Monthly PSL Tranche.

  • In addition to the foregoing, on the date on which the Final Credit Extension is made under the Credit Agreement (the “Final Purchase Date”), the Seller shall be deemed to have sold the remaining Unsold PSL Tranche to the Purchaser hereunder (the “Final Purchase”) so that 100% of the PSL Revenues shall have been sold hereunder.

  • Immediately preceding each Purchase under the Purchase and Sale Agreement, the Authority is the owner of the PSL Tranche of PSL Revenues, as such PSL Revenues may be in existence from time to time, to be sold by it pursuant to such Purchase, free and clear of all Adverse Claims (other than any Adverse Claim arising hereunder or under the Credit Agreement).

  • On a monthly basis, the Seller shall provide, or shall cause the appropriate third party to provide, to the Purchaser and the Collateral Agent such supporting information related to the Processing Costs (including copies of bank statements and invoices from the Processors) as may be needed to verify the amount of all Processing Costs included in such month’s Processing Costs PSL Tranche.

  • No transfer of a PSL Tranche of PSL Revenues was or is made for or on account of an antecedent debt owed by the Authority to the Purchaser, and no such transfer was and is voidable or subject to avoidance under any Debtor Relief Law.

Related to PSL Tranche

  • Initial Tranche means the first Tranche of a Series of ETP Securities issued.

  • 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).

  • Extended Tranche has the meaning specified in Section 2.19(a).

  • Existing Revolver Tranche has the meaning set forth in Section 2.16(b).

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

  • Existing Tranche has the meaning specified in Section 2.19(a).

  • 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.

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

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

  • 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.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Existing Revolving Loans has the meaning specified in Section 2.16(a).

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

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

  • New Revolving Loans as defined in Section 2.25.