Tranche A Loans Sample Clauses
The 'Tranche A Loans' clause defines a specific portion or segment of a larger loan facility, typically distinguished by its own terms, interest rates, and repayment schedules. In practice, Tranche A Loans may be the initial funds disbursed under a credit agreement, often prioritized for repayment or secured by particular collateral, and may have different covenants compared to other tranches. This clause serves to clearly delineate the rights and obligations associated with this segment of the loan, ensuring both lender and borrower understand the specific terms that apply to Tranche A, thereby reducing ambiguity and managing risk allocation within multi-tranche financing arrangements.
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Tranche A Loans. Unless otherwise agreed to by the Administrative Agent in connection with making the initial Loans, to request a Borrowing of Tranche A Loans, the Borrower shall notify the Administrative Agent of such request by telephone (x) in the case of a Eurodollar Borrowing, not later than 1:00 p.m., New York City time, three (3) Business Days before the date of the proposed Borrowing and (y) in the case of an ABR Borrowing, not later than 12:00 p.m., New York City time, on the date of the proposed Borrowing; provided that, (i) any such notice of an ABR Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.03(e) may be given not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing and (ii) any such notice of a Eurodollar Borrowing to be advanced on the Effective Date may be given not later than 11:00 a.m., New York City time, on the Effective Date. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery, courier or telecopy to the Administrative Agent of a written Borrowing Request in a form reasonably acceptable to the Administrative Agent and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.01:
(i) the aggregate amount of the requested Borrowing;
(ii) the date of such Borrowing, which shall be a Business Day;
(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and
(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term “Interest Period”. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section 2.04(a), the Administrative Agent shall advise each Tranche A Lender of the details thereof and of the amount of such Tranche A Lender’s Tranche A Loan to be made as part of the requested Borrowing.
Tranche A Loans. Each Lender severally agrees, on the terms and subject to the conditions hereinafter set forth, to make one or more Committed Loans to the Company on any Business Day during the period commencing on the Closing Date and ending on the Business Day next preceding the Tranche A Termination Date (each such loan, a "Tranche A Loan"), in an aggregate principal amount at any time outstanding which does not exceed such Lender's Tranche A Commitment; provided, however, that after giving effect to any Committed Borrowing of Tranche A Loans, (i) the aggregate principal amount of all Tranche A Loans then outstanding, plus (ii) the aggregate principal amount of all Tranche A Bid Loans then outstanding, plus (iii) the outstanding Tranche A L/C Obligations shall not exceed the Aggregate Tranche A Commitments. Any principal amount of the Tranche A Loans which is repaid or prepaid by the Company may be reborrowed within the limitations set forth in this Section 2.01(a).
Tranche A Loans. On the terms and subject to the conditions contained in this Agreement and in reliance upon the representations and warranties of the Obligors set forth herein, each Lender agrees to make one or more Loans to the Borrowers (each, a "Tranche A Loan") on Funding Dates occurring on or after the date of delivery of the last A319/A320 Aircraft currently on order by America West and not rescheduled in accordance with paragraph 5 of the MOU, as requested by a Borrower in a Notice of Borrowing given in accordance with Section 2.2 in an amount not to exceed, in the aggregate for all Tranche A Loans made by such Lender on all Funding Dates, the Tranche A Commitment of such Lender. No Tranche A Loan shall be made prior to the date of delivery of the last A319/A320 aircraft on order by America West on the date hereof and not rescheduled in accordance with paragraph 5 of the MOU. The last such aircraft is currently scheduled to be delivered in February 2006. There may be multiple Borrowings of Tranche A Loans. Tranche A Loans repaid or prepaid may not be reborrowed hereunder.
Tranche A Loans. Subject to the terms and conditions of this Agreement (including, without limitation, Section 2.13(a)), each Tranche A Lender severally agrees to make one or more loans to the Borrower from time to time from and including the Closing Date to but excluding the Tranche A Commitment Termination Date up to but not exceeding the amount of such Tranche A Lender's Tranche A Commitment as then in effect. Notwithstanding anything to the contrary contained in this Agreement, the Borrower, the Administrative Agent and the Lenders agree that, as of the Closing Date, the aggregate outstanding principal amount of the Original Tranche A Loans was $______________ , which amount shall be deemed outstanding as Tranche A Loans hereunder. (Such loans referred to in this Section 2.1(a) now or hereafter made or deemed made by the Tranche A Lenders to the Borrower, including, without limitation, such loans which remain outstanding after the Tranche A Commitment Termination Date, are hereinafter collectively called the "Tranche A Loans".) The Borrower may not reborrow the Tranche A Loans which have been repaid; provided, however, that the Borrower may reborrow the Tranche A Loans which have been prepaid in accordance with Section 2.7(e) in the event that the Borrower elects to increase the Tranche A Commitments in accordance with Section 2.13(c) by an amount equal to or greater than the amount of such reborrowed Loan.
Tranche A Loans. Subject to the terms and conditions set forth in this Agreement (including Section 4.03) and in reliance upon the representations and warranties of the Loan Parties set forth herein, each Tranche A Lender severally, but not jointly, agrees to advance to the Borrower (x) on the date that is three (3) Business Days after the delivery of the Borrowing Request delivered on the Closing Date, loans in an amount equal to $68,800,000 and (y) on the date that is twelve (12) Business Days after the delivery of the Borrowing Request delivered on the Closing Date, the remaining amount of such Tranche A ▇▇▇▇▇▇’s unfunded Tranche A Commitments (individually, a “Tranche A Loan” and, collectively, the “Tranche A Loans”).
Tranche A Loans. If the aggregate amount of the Tranche A Available Funds exceeds $500,000,000 (such excess amount at any time, the “Tranche A Excess Availability”) and such excess is greater than $5,000,000 (i) if the Borrowing Base Certificate is delivered on a weekly basis, on the date such Borrowing Base Certificate is delivered and (ii) otherwise, on the last Business Day of any calendar week, the Borrower shall prepay the Loans (excluding any portion of the Loans comprising interest that is paid in kind on such Loans pursuant to Section 2.05(b)) within one (1) Business Day of such date in an amount equal to the Tranche A Excess Availability. Notwithstanding anything to the contrary contained in this Agreement, from and after the effectiveness of the amendments to each of the Master Restructuring Agreement and the Global Settlement Agreement referred to in Section 5.03, on each date, the Borrower shall immediately repay, as a set-off by GM in accordance with Section 2.07, an amount equal to the lesser of (x) the Tranche A Obligations outstanding hereunder on such date and (y) any amounts due and payable by GM or its Affiliates to or for the credit or the account of the Borrower or any Guarantor under such agreements on such date.
Tranche A Loans. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender's "Tranche A Loans") upon Borrower's request from time to time during the Tranche A Revolving Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Tranche A Loans of the same Type in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such Tranche A Loans, the Tranche A Facility Usage does not exceed the Tranche A Borrowing Base (as defined in Section 2.10) and (c) the Aggregate Facility Usage does not exceed the Maximum Loan Amount. The aggregate amount of all Loans in any Borrowing of Tranche A Loans that are Base Rate Loans must be greater than or equal to $100,000 or must equal the remaining availability under the Tranche A Borrowing Base. Borrower may have no more than five Borrowings of Tranche A Loans that are Eurodollar Loans outstanding at any time. The aggregate amount of all Loans in any Borrowing of Tranche A Loans that are Eurodollar Loans must be greater than or equal to $500,000 or must equal the remaining availability under the Tranche A Borrowing Base. The obligation of Borrower to repay to each Lender the aggregate amount of all Tranche A Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender's "Tranche A Note") made by Borrower payable to the order of such Lender in the form of Exhibit A-1 with appropriate insertions. The amount of principal owing on any Lender's Tranche A Note at any given time shall be the aggregate amount of all Tranche A Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Tranche A Note. Interest on each Tranche A Note shall accrue and be due and payable as provided herein and therein. Each Tranche A Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Tranche A Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Tranche A Loans hereunder during the Tranche A Revolving Period.
Tranche A Loans. Sections 2.1(d)(i) of the Loan Agreement is hereby replaced with the following:
(i) Borrowers shall make mandatory payments or prepayments of principal in respect of the Tranche A Loans prior to the Final Maturity Date (A) on the date of any regularly scheduled reduction in the amount of the Tranche A Loan Limit to the extent a payment is required to be made to reduce the outstanding Tranche A Loans to the amount equal to or less than the then effective Tranche A Loan Limit, (B) using net cash proceeds of the sale of Capital Stock after March 14, 2014 by a Borrower or Guarantor or one of its Subsidiaries (including BlueLinx Building Products Canada Ltd.) in accordance with Section 9.7(b)(iv) hereof or by Parent Guarantor or one of its Subsidiaries (other than a Borrower, Guarantor, BlueLinx or Building Products Canada Ltd.) or a sale of equity interests in an SPE Propco in accordance with Section 9.24(b)(iii) hereof) and (C) using net cash proceeds from the issuance of any Indebtedness after March 14, 2014 by a Borrower or Guarantor or one of its Subsidiaries (including BlueLinx Building Products Canada Ltd.) in accordance with Section 9.9(f) or 9.9(o) hereof or by Parent Guarantor or one of its Subsidiaries (other than a Borrower, Guarantor or BlueLinx Building Products Canada Ltd.) or the incurrence of any Indebtedness, the net proceeds of which are used to repay the Mortgage Loan by an SPE Propco in accordance with Section 9.24(b)(ii) hereof), so long as (x) in the case of the immediately preceding clauses (B) and (C), as the case may be, the following conditions shall have been satisfied: (1) on and after giving effect to such payment or prepayment, Excess Availability is not less than $50,000,000, and (2) on and after giving effect to any such payment or prepayment, no Event of Default shall exist or have occurred and be continuing, and (y) in the case of the immediately preceding clause (A), commencing with any payment or prepayment on and after August 1, 2017 through, but not including the Tranche A Loan Maturity Date, the following conditions shall have been satisfied: (1) on and after giving effect to such payment or prepayment, Excess Availability is not less than $50,000,000, and (2) on and after giving effect to any such payment or prepayment, no Event of Default shall exist or have occurred and be continuing; and”
Tranche A Loans. Upon the terms and subject to the conditions of this Agreement, each Tranche A Lender agrees to make a Tranche A Loan in a single advance to the Borrower on any Business Day during the Availability Period (the “Closing Date”) in a principal amount not exceeding such Tranche A Lender’s Commitment; provided that the aggregate of all Tranche A Loans made on the Closing Date shall not exceed $15,710,054. Any unutilized Tranche A Lender’s Commitment outstanding immediately after the disbursement of the Tranche A Loans on the Closing Date shall terminate and not be reinstated.
Tranche A Loans. Subject to any prepayments permitted or required in accordance with Sections 1.05 and 1.08(b) hereof and Section 5.03 of the Security Agreement, the Borrower hereby promises and agrees to pay to the Administrative Agent, for account of the Tranche A Lenders, the Tranche A Loans evidenced by the Tranche A Notes on the following terms:
(i) the Borrower shall pay the aggregate principal amount of the Tranche A Loans on successive Tranche A Installment Payment Dates commencing with the first Tranche A Installment Payment Date and ending on the Maturity Date of the Tranche A Loans, all as set forth on the Tranche A Installment Payment Schedule, provided that the final installment of principal shall in any event for each Tranche A Loan be equal to the then remaining unpaid principal amount of such Tranche A Loan.
(ii) the Borrower shall pay interest accrued on each Tranche A Loan at the applicable Tranche A Interest Rate on the then outstanding principal amount of such Tranche A Loan. Interest on each Tranche A Loan shall be due and payable on each Interest Payment Date and on the date of any prepayment of principal on the Tranche A Loans, whether voluntary or mandatory; provided that all accrued and unpaid interest on the Tranche A Loans shall be due and payable on the final Tranche A Installment Payment Date.