Tranche Clause Samples
A Tranche clause defines the division of a financial arrangement or investment into separate portions, each with distinct terms or characteristics. In practice, this means that a loan, bond, or investment may be split into multiple tranches, each with its own interest rate, maturity date, or risk profile. For example, a loan might be disbursed in several tranches based on project milestones, or a bond issuance might offer senior and junior tranches to investors. The core function of this clause is to provide flexibility and structure in financing arrangements, allowing parties to tailor risk, return, and payment schedules to their specific needs.
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Tranche. The term "
Tranche. 4 Advance. Subject to the terms and conditions of this Agreement, and conditioned on approval by Lenders’ investment committee in its sole discretion, on or before March 31, 2020, Borrower may request and Lender shall severally (and not jointly) make in an amount not to exceed its respective Term Commitment an additional Term Loan Advance in an aggregate principal amount of up to Five Million Dollars ($5,000,000) (the “Tranche 4 Advance”).
Tranche. D1 will only be used by the Borrower for the financing of Project Construction Costs;
Tranche. 2 – one-fifth (1/5th) of the Deferred Stock Units, on the earlier of (x) the two (2) year anniversary of the Date of Grant or (y) the fifth (5th) anniversary of the date of Participant’s termination as a Service Provider prior to attainment of age 67;
Tranche. 1 Performance Units. One-hundred percent (100%) of the Tranche 1 Performance Units shall become Vested Units upon the consummation of a Change in Control if the Advent Group achieves a MOIC equal to at least two (2), subject to the Participant’s continued employment with the Partnership or one of its Subsidiaries through the date of such Change in Control. For the avoidance of doubt, the Tranche 1 Performance Units shall not vest if the Advent Group receives Advent Cash Amounts resulting in a MOIC of less than two (2).
Tranche. Collectively, or individually as the context indicates, the Revolving Credit Loans if any are outstanding and/or the Tranche B Term Loan, and for purposes of §15 only, any new Loan provided to the Borrower in accordance with the terms and conditions set forth in such §15.
Tranche. 3 Advance. Subject to the terms and conditions of this Agreement and the achievement of the Approval Milestone, on or prior to the earlier of June 30, 2024 or ninety (90) days following the achievement of the Approval Milestone, Borrower may request, and the Lenders shall severally (and not jointly) make, additional Term Loan Advances in an aggregate principal amount up to Seventy-Five Million Dollars ($75,000,000), in minimum draws of at least Ten Million Dollars ($10,000,000) (or if less than Ten Million Dollars ($10,000,000), the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(cd)) (each, a “Tranche 3 Advance”); provided that Borrower shall not be permitted to request more than two (2) Tranche 3 Advances in total.
Tranche. 1 Advance. Subject to the terms and conditions of this Agreement, on the Closing Date, the Lenders shall severally (and not jointly) make in an amount not to exceed their respective Term Commitments, and ▇▇▇▇▇▇▇▇ agrees to draw, a Term Loan Advance in an aggregate principal amount equal to Fifty Million Dollars ($50,000,000) (the “Tranche 1 Advance”).
Tranche. Number of Options