Tranche B Commitment Clause Samples
Tranche B Commitment. Upon and subject to the terms and conditions hereof, (i) each Tranche B Lender severally agrees to make loans in Dollars, Euros or Sterling (each such loan a “Revolving Loan”) to the Parent Borrower, ACUS, MI or any other applicable Tranche B Designated Subsidiary Borrower from time to time, on any Business Day, from time to time during the Availability Period in an amount equal to such Tranche B Lender’s Applicable Percentage of the requested Revolving Loan and (ii) as more fully set forth in Section 2.03, (w) each Fronting Bank (subject to the definition thereof) hereby agrees to issue Tranche B Fronted Letters of Credit in Dollars or an Alternative Currency at the request of and for the account of ARC, ARL, MI, the Parent Borrower or any other applicable Tranche B Designated Subsidiary Borrower from time to time during the Availability Period, (x) each Tranche B Lender that is not a Participating Bank hereby agrees to issue Tranche B Several Letters of Credit in Dollars at the request of and for the account of ARC, ARL, MI, the Parent Borrower or any other applicable Tranche B Designated Subsidiary Borrower from time to time during the Availability Period in such Lender’s Applicable Percentage of such aggregate stated amounts as such Borrower may from time to time request, (y) each Tranche B Lender hereby agrees to purchase risk participations in the obligations of the issuing Fronting Bank under Tranche B Fronted Letters of Credit in an amount equal to such Tranche B Lender’s Applicable Percentage of such obligations, and (z) subject to receipt, if applicable, of an agreement referenced in Section 2.03(a)(iii)(E)(2), with respect to Tranche B Several Letters of Credit, the applicable Fronting Bank shall be severally (and not jointly) liable for an amount equal to its Applicable Percentage plus each Participating Bank’s Applicable Percentage of the amount of each such Several Letter of Credit and each Participating Bank hereby agrees to purchase risk participations in the obligations of such Fronting Bank under any such Tranche B Several Letter of Credit in an amount equal to such Participating Bank’s Applicable Percentage of such obligations; provided, however that, after giving effect to any Credit Extension pursuant to this Section 2.01(b), (A) the Outstanding Amount of Tranche B Obligations will not exceed the combined Tranche B Commitments, (B) the Outstanding Amount of Tranche B Obligations of any Tranche B Lender will not exceed such Lender’s Tra...
Tranche B Commitment. Subject to the terms and conditions hereof, the Lender agrees to make a term loan (the “Tranche B Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Tranche B Commitment. The Tranche B Loan may from time to time be Eurodollar Loans or, solely in the circumstances specified in Section 2.10(e) and Section 2.12
Tranche B Commitment. Subject to the terms and conditions of this Agreement, each Lender agrees (severally, not jointly or jointly and severally) to make, from time to time prior to the Availability Termination Date, a series of term loans to Borrowers (each, a "Tranche B Advance" and collectively the "Tranche B Advances") in an aggregate amount at any one time outstanding not to exceed such Lender's Pro Rata Share of the Tranche B Commitment. Each
Tranche B Commitment. On and subject to the terms and conditions of this Agreement, (a) each of the Revolving Lenders, severally and for itself alone, agrees to make loans to Telegraph on a revolving basis (the “Tranche B Loans”) from time to time before the Revolving Commitment Termination Date in such Revolving Lender’s Revolving Percentage of such aggregate amounts as Telegraph may from time to time request from all Revolving Lenders under the aggregate Tranche B Commitments, provided that (i) the aggregate principal amount of all Tranche B Loans which all Revolving Lenders shall have outstanding at any one time shall not exceed an amount equal to (A) the aggregate amount of the Tranche B Commitments minus (B) the Stated Amount of all outstanding Tranche B Letters of Credit and (ii) the making of such Loans shall be subject to the limitations contained in Section 2.2(c); and (b) the Issuing Bank agrees to issue Letters of Credit at the request and for the account of Telegraph (the “Tranche B Letters of Credit”) from time to time before the Revolving Commitment Termination Date and, as more fully set forth in Section 2.7, each Revolving Lender agrees to purchase a participation in each such Tranche B Letter of Credit, provided that (i) the aggregate Stated Amount of all Tranche B Letters of Credit shall not at any time exceed the lesser of (A) the Dollar Equivalent of $25,000,000 or (B) an amount equal to (x) the aggregate amount of all Tranche B Commitments minus (y) the aggregate principal amount of all outstanding Tranche B Loans and (ii) the issuance of such Letters of Credit shall be subject to the limitations contained in Section 2.2(e).
Tranche B Commitment. Subject to the terms and conditions of this Loan Agreement, Lenders agree to advance to Borrowers (the “Tranche B Advances”, and together with the Tranche A Advances, the “Advances”), jointly and severally, from time to time on or prior to October 31, 2008, one or more term loans in an aggregate principal amount of up to Ten Million Dollars ($10,000,000) (the “Tranche B Commitment”).
Tranche B Commitment. The Borrower hereby designates $69,500,000 of the Effective Date Loan Balance to be Tranche B Loans. Subject to the terms and conditions set forth herein, the Bank agrees to make additional Tranche B Loans to the Borrower from time to time during the period from the Effective Date through the Business Day immediately preceding the Tranche B Commitment Termination Date, provided that immediately after giving effect thereto, (i) the Senior Debt Asset Coverage would not be less than 3.00:1.00, (ii) the Preferred Asset Coverage would not be less than 2.25:1.00, (iii) the Tranche B Loan Balance would not exceed the Tranche B Commitment, and (iv) the Aggregate Loan Balance would not exceed the lesser of (x) the aggregate amount of the Commitments or (y) the Borrowing Base. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Tranche B Loans.
Tranche B Commitment. Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender with a Tranche B Commitment severally agrees to make a term loan (the "Tranche B Term Loan") to the Borrower on the Restatement Effective Date in such principal amount as the Borrower shall request up to, but not exceeding, such Lender's Tranche B Commitment.
Tranche B Commitment. Section 1.1 of the Credit Agreement is hereby amended by deleting the definition of "Tranche B Commitment" in its entirety and by substituting therefor the following new definition of "Tranche B Commitment" to read as follows:
Tranche B Commitment. No such assignment shall be made to any Person by a Lender (unless such Lender is a Non-Tranche B Lender) to any Person that is not authorized to make Loans in France. Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party
Tranche B Commitment. Pursuant to the Original Loan Agreement, Lenders advanced to Borrowers (the “Tranche B Advance” on October 31, 2008, a term loan in an aggregate principal amount of Ten Million Dollars ($10,000,000). At the Closing, the Tranche B Advance will be converted into part of the Tranche D Advance hereunder in accordance with Section 1.01(d).