Tranche 3 definition

Tranche 3 means the amount of [**] to be applied in payment of the fourth pre-delivery instalment due by the Borrower to the Builder under the Building Contract to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto;

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Tranche 3 means SEK 65,000,000 minus Transaction Costs.

Tranche 3 has the meaning set forth in Section 2.2(a)(iii).

Examples of Tranche 3 in a sentence

• Each such Lender’s obligation to fund the Term Loan Tranche 3 shall be limited to such Lender’s Term Loan Tranche 3 Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded.

• For the avoidance of doubt, one-hundred percent (100%) of the Tranche 3 Performance Shares shall vest if the Advent Group receives Advent Cash Amounts resulting in a MOIC of at least three (3).

• In addition, on a Change of Control, unvested Tranche 3 Options will vest with respect to a number of Units equal to the product of (i) the Average Vesting Percentage multiplied by (iii) the number of Undetermined Years multiplied by (iii) the number of Units subject to the Tranche 3 Options.

• Unless previously terminated, upon the Term Loan Tranche 3 Commitment Termination Date, the Term Loan Tranche 3 Commitment shall thereupon automatically be terminated and the Term Loan Tranche 3 Commitment Amount of each Lender as of such date shall be reduced by such Lender’s Pro Rata Share of such total reduction in the Term Loan Commitments.

• All Restricted Stock Units assigned to Tranche 3 will be forfeited.

More Definitions of Tranche 3

Tranche 3. January 1, 2015 through December 31, 2017, which is allotted 50% of the Target Award.

Tranche 3 means the Bonds with ISIN SE0013281920, initially allocated to certain management members of the Group as part of the Restructuring.

Tranche 3 the “third” segment consisting of 6,000,000 shares exercisable under the Series B Warrant as hereby amended (i.e., available warrant shares no. 6,000,001 through 12,000,000).

Tranche 3 warrant shares shall in no event be exercisable after 5:00 p.m., New York Time, July 31, 2016.

Tranche 3 and “Tranche 4”) and the number of Shares that the Participant may earn from each tranche, if any, with respect to the applicable Performance Period for the tranche, is determined by the schedule below, with each Performance Share Unit capable of earning one Share at target performance (50th percentile): 90th percentile or above 200 % 70th percentile 150 % 50th percentile 100 % 30th percentile 50 % Below 30th percentile 0 % * For any amounts calculated under this Section 3 that fall between two percentiles set forth in the left column above that are between the 90th percentile and the 30th percentile, the percentage of the number of Shares that the Participant earns under the Performance Share Units for the applicable Performance Period shall be interpolated in a straight line between the two relevant percentiles. If the Company’s TSR is negative for the applicable Performance Period, the Percentage of Target Performance Share Units Earned for that Performance Period shall be capped at no greater than 100%.

Tranche 3 shall consist of [_____] Performance Shares.

Tranche 3 means the amount which may be drawn down by the Borrower as an Advance pursuant to a Drawdown Request and having a term of three years.