Tranche B definition

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

Tranche B is defined in Section 2.1.1(a).

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

Examples of Tranche B in a sentence

• Notwithstanding the foregoing a Borrowing Notice other than with respect to the Tranche B Term Loan may state that such notice is conditional upon the occurrence of some identifiable event or condition, in which case such Borrowing Notice may be revoked or delayed by the Borrower (by notice to the Administrative Agent on or prior to the specified date of borrowing) if such condition is not satisfied or is postponed later than the expected borrowing date, as applicable.

• Each Purchaser shall pay its Proportionate Share of the Tranche A Purchase Price or Tranche B Purchase Price, as applicable, solely by wire transfer in immediately available funds, by 2:00 p.m. New York City Time on the fifth (5th) day following such Purchaser’s receipt of a Funding Notice from the Company (respectively, the “Tranche A Funding Date” and “Tranche B Funding Date”) to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Purchasers.

• The Purchasers may not fund Tranche A or Tranche B upon the Company’s entry into any agreement that would result in a Pre-Funding Change of Control.

More Definitions of Tranche B

Tranche B means up to seventy five per cent (75%) of the amount of the Hermes Insurance Premium or the Equivalent Amount thereof payable on the later of the First Drawdown Date and the issue of the Hermes Cover to be paid to the Hermes Agent for on-payment to Hermes to be advanced by the Lenders on a Drawdown Date by way of their Contributions thereto PROVIDED THAT the amount of this Tranche and the amount of Tranche A shall not when aggregated exceed eighty per cent (80%) of the Hermes Premium;

Tranche B means the amount of up to USD25,000,000, being the aggregate of all of the Advances to be made available by the Lender to the Borrowers to assist Andros in its acquisition of Vessel B or, as the context requires, the amount thereof outstanding from time to time;

Tranche B means that part of the Loan made or to be made available to the Borrower B to finance part of the Purchase Price of Ship B in a principal amount of US$16,200,000 (representing 80 per cent. of that Purchase Price).

Tranche B means the aggregate of the Tranche B Commitments.

Tranche B means the amount of up to USD26,000,000, being the aggregate of all of the Advances to be made available by the Bank to the Borrowers to assist Crete in its acquisition of Vessel B; and

Tranche B means that part of the Loan to be made available to the Borrowers to refinance the Existing Indebtedness in a principal amount not exceeding the lesser of (i) $13,750,000 and (ii) 55 per cent. of the Initial Market Value of Ship B.

Tranche B means, at any time, all Tranche B Collateral Loans at such time.