Additional Tranches Sample Clauses
The "Additional Tranches" clause defines the terms under which further portions of funding or resources may be provided beyond the initial amount agreed upon. Typically, this clause outlines the conditions or milestones that must be met before subsequent tranches are released, such as achieving specific project goals or financial targets. Its core practical function is to structure the timing and amount of additional disbursements, thereby managing risk and incentivizing performance throughout the duration of the agreement.
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Additional Tranches. After the Closing Date, so long as no Default or Event of Default exists and subject to the terms of this Agreement, with the prior written consent of Agent and all Lenders in their sole discretion, the Revolving Loan Commitment may be increased upon the written request of Borrower Representative (which such request shall state the aggregate amount of the Additional Tranche requested and shall be made at least thirty (30) days prior to the proposed effective date of such Additional Tranche) to Agent to activate an Additional Tranche; provided, however, that Agent and Lenders shall have no obligation to consent to any requested activation of an Additional Tranche and the written consent of Agent and all Lenders shall be required in order to activate an Additional Tranche. Upon activating an Additional Tranche, each Lender’s Commitment shall increase by a proportionate amount so as to maintain the same Pro Rata Share of the Revolving Loan Commitment as such Lender held immediately prior to such activation. In the event Agent and all Lenders do not consent to the activation of a requested Additional Tranche within thirty (30) days after receiving a written request from Borrower Representative, then the Revolving Loan Commitment shall not be increased and, within the next one hundred twenty (120) days, Borrowers may terminate this Agreement upon written notice to Agent and, if the Borrowing Base on the date of such request would have supported such increased Revolving Loan Commitment, upon repayment in full of all Obligations, no fee shall be due pursuant to Section 2.2(f) in connection with such termination.
Additional Tranches. After the Closing Date, so long as no Default or Event of Default exists and subject to the terms of this Agreement, with the prior written consent of Agent and Lenders in their sole discretion, the Revolving Loan Commitment may be increased upon the written request of Borrower Representative (which such request shall state the aggregate amount of the Additional Tranche requested and shall be made at least thirty (30) days prior to the proposed effective date of such Additional Tranche) to Agent to activate an Additional Tranche; provided, however, that Agent and Lenders shall have no obligation whatsoever to consent to any requested activation of an Additional Tranche and the written consent of Agent and all Lenders shall be required in order to activate an Additional Tranche. Upon activating an Additional Tranche, each Lender’s Revolving Loan Commitment Amount shall increase by a proportionate amount so as to maintain the same Pro Rata Share of the Revolving Loan Commitment as such Lender held immediately prior to such activation.
Additional Tranches. After the Closing Date, so long as no Default or Event of Default exists and subject to the terms of this Agreement, with the prior written consent of Agent and all Lenders with Revolving Commitments in their sole discretion, the Revolving Commitment may be increased upon the written request of Borrower Agent (which such request shall state the aggregate amount of the Additional Tranche requested and shall be made at least thirty (30) days prior to the proposed effective date of such Additional Tranche) to Agent to activate an Additional Tranche; provided, however, that (i) Borrower shall not be entitled to request the Additional Tranche if any Default or Event of Default as occurred and is continuing, (ii) any Additional Tranche shall be subject to documentation, including amendments to this Agreement, in form and substance satisfactory to Agent and Required Lenders in their sole discretion, (iii) any Additional Tranche shall be subject to the fees required to be paid in the Fee Letter with respect to such Additional Tranche, (iv) the representations and warranties contained in this Agreement and the other Documents shall be true and correct in all material respects on the date any such Additional Tranche is activated, and (v) notwithstanding the foregoing, Agent and Lenders with Revolving Commitments shall have no obligation whatsoever to consent to any requested activation of an Additional Tranche and the written consent of Agent and all Lenders with Revolving Commitments shall be required in order to activate an Additional Tranche. Upon activating an Additional Tranche, each Lender’s Revolving Commitment shall increase by a proportionate amount so as to maintain the same Revolving Commitment Percentage as such Lender held immediately prior to such activation.
Additional Tranches. Subject to the terms and conditions contained in this Agreement, from the Closing Date until the Termination Date, and provided that no Event of Default and no Default then exists, the Borrower may from time to time request additional advances of One Million Dollars or more (from Lender to support one or more Qualified Acquisitions (“Additional Tranches”), it being agreed and understood that (i) each request by the Borrower for an Additional Tranche shall be in a minimum amount of One Million Dollars ($1,000,000) and (ii) the maximum aggregate principal amount of all Additional Tranches made by Lender hereunder shall not exceed Twenty Million Dollars ($20,000,000). For certainty, Additional Tranches may only be used to finance Qualified Acquisitions.
Additional Tranches. Subject to Section 4.3, the principal amount of each Additional Tranche and other outstanding Obligations relating to such Additional Tranche shall bear interest from the date of the advance thereof to the date paid, at a rate equal to 10.5% per annum compounded quarterly. In each case such interest shall be payable in arrears in accordance with Section 4.2 and calculated in accordance with Section 4.4(b).
Additional Tranches. After the Closing Date, so long as no Event of Default exists and subject to the terms of this Agreement, with the prior written consent of Agent and all Lenders in their sole discretion, the Revolving Loan Commitment may be increased upon the written request of Borrower Representative (which such request shall state the aggregate amount of the Additional Tranche requested and shall be made at least ten (10) Business Days prior to the proposed effective date of such Additional Tranche) to Agent to activate an Additional Tranche (it being understood that each Additional Tranche shall be in an aggregate amount equal to $5,000,000 and Borrower shall be entitled to request no more than two (2) Additional Tranches during the term of this Agreement); provided, however, that Agent and Lenders shall have no obligation whatsoever to consent to any requested activation of an Additional Tranche and the written consent of Agent and all Lenders shall be required in order to activate an Additional Tranche. Upon activating an Additional Tranche, each Lender’s Revolving Loan Commitment Amount shall increase by a proportionate amount so as to maintain the same Pro Rata Share of the Revolving Loan Commitment as such Lender held immediately prior to such activation.
Additional Tranches. The obligation of the Bank to make available the first Advance to be drawn down under each Additional Tranche, shall be subject to the condition that the Bank or its duly authorised representative shall have received, on or prior to the drawdown of such Advance, the documents and evidence specified in Part 4 of schedule 2 in respect of the Additional Ship to which such Tranche relates (referred to in such Part 4 as the “Relevant Ship”) in form and substance satisfactory to the Bank.
Additional Tranches. After the Closing Date, so long as no Default or Event of Default exists and subject to the terms of this Agreement, with the prior written consent of Agent and all Lenders in their sole discretion, the Revolving Loan Commitment may be increased upon the written
Additional Tranches. Additional tranches of Common Stock will be issued to CardioNova with a total value expressed as a percentage of the then current Aggregate Studies Budget and based on the lesser of the Issue Price and the volume weighted average closing price of Common Stock for the twenty (20) consecutive trading days preceding each associated event, as follows:
Additional Tranches. Additional tranches of Common Stock will be issued to CardioNova with a total value expressed as a percentage of the then current Aggregate Studies Budget and based on the lesser of the Issue Price and the volume weighted average closing price of Common Stock for the twenty (20) consecutive trading days preceding each associated event, as follows: