Tranche C Sample Clauses

Tranche C. The Borrower may not deliver a Drawdown Notice if as a result of the proposed Advance more than three Tranche C Advances would be outstanding.

Tranche C. Each Tranche C Lender severally agrees, on the terms and conditions hereinafter set forth, to make Tranche C Revolving Credit Advances denominated in Euros to any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an amount (determined by reference to the Equivalent of Euros in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed such Lender’s Unused Tranche C Commitment. Each Revolving Credit Borrowing under the Tranche C Facility shall be in an amount not less than the Revolving Credit Borrowing Minimum or the Revolving Credit Borrowing Multiple in excess thereof and shall consist of Eurocurrency Rate Advances in the same currency made on the same day by the Lenders ratably according to their respective Tranche C Revolving Credit Commitments. Within the limits of each Lender’s Tranche C Revolving Credit Commitment, any Borrower may borrow under this Section 2.01(a)(iii), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a)(iii).

Tranche C. After giving effect to the transactions contemplated hereby, Tranche C shall remain inactive and Section 6.3(c) of the Credit Agreement is hereby amended by striking the figure "$5,000,000" wherever such figure appears therein and substituting the figure "$3,375,0001, therefor.

Tranche C. During the Term, the Holder may purchase [_______] shares of Warrant Stock (the " Tranche C Warrant Stock" ) at an exercise price per share of Warrant Stock equal to $1,250.00.

Tranche C. (i) Subject to the terms and conditions and relying upon the representations and warranties herein set forth, each Lender severally agrees to make Tranche C Loans to the Borrowers in an aggregate principal amount not to exceed the lesser of (i) such Lender's Tranche C Loan Commitment (or, if less, such Lender's Pro Rata Share of the Total Tranche C Loan Commitment) and (ii) such Lender's Pro Rata Share of the Tranche C

Tranche C. The Borrower may prepay Tranche C subject to the provisions of Article 17 and Section 14.4. The terms and conditions of Article 17 provide, among other terms and conditions, that the Borrower shall not have the right to make any payments to the Tranche C Lenders other than as authorized herein prior to the payment in full of all Lender Obligations owed to the A/B Lenders. Subject to the foregoing, on or before the third anniversary of the Closing Date, the Borrower may prepay all or any portion of Tranche C provided that the Borrower pays to the Tranche C Lenders one percent (1%) of the amount prepaid as a prepayment penalty. Thereafter, no prepayment penalty shall be applicable." When permitted under each of (i) the Senior Facility and (ii) the Indenture governing the obligations guaranteed by the Senior Note Guaranty, the Tranche C debt shall be convertible into unsecured debt of American Ski pursuant to the terms of that certain Securities Purchase Agreement dated July 15, 2001 among American Ski, Oak Hill Capital Partners, L.P., and the other entities party thereto, provided further that under no circumstances shall such conversion be effected or permitted prior to the Payment Date without the prior unanimous written approval of the Tranche A and Tranche B Lenders.

Tranche C. (a) Subject to the terms of this Agreement, the Lenders make available Tranche C of the Facility to Borrower C in respect of Vessel C in an amount not exceeding the aggregate of the Commitments applicable to Tranche C. (b) Two (2) Loans only may be requested under Tranche C of the Facility in respect of Vessel C: (i) the first such Loan shall be in an amount which is the lower of US$67,800,000 and such part (if any) of the Final Instalment of the Contract Price due by Borrower C to the Seller under Shipbuilding Contract for Vessel C and shall be used in or towards payment of such part (if any) of the Final Instalment on the Delivery Instalment Fund Transfer Date; and (ii) the second such Loan shall be in an amount equal to the Available Commitment in respect of Tranche C which remains after deducting the amount in paragraph (i) above and shall, on the Delivery Date for Vessel C, be used for the purposes set out in Clause 3.1 (Purpose).

Tranche C. The Borrower may prepay Tranche C subject to the provisions of Article 17 and Section 14.4. The terms and conditions of Article 17 provide, among other terms and conditions, that the Borrower shall not have the right to make any payments to the Tranche C Lenders other than as authorized herein prior to the payment in full of all Lender Obligations owed to the A/B Lenders. Subject to the foregoing, on or before the first anniversary of the Closing Date, the Borrower may prepay all or any portion of Tranche C provided that the Borrower pays to the Tranche C Lenders two percent (2%) of the amount prepaid as a prepayment penalty. The prepayment penalty for the next two (2) loan years shall decrease one percent (1%) per year on the anniversary date of the Closing Date so that prepayments in the second (2nd) loan year shall have a prepayment penalty of one percent (1%) per annum, and thereafter, no prepayment penalty shall be applicable. Subject to the procedures for application of principal payments set forth in Section 2.2(a) and the provisions of Section 4.4D, Borrower may prepay the outstanding principal balance of Tranche A without prepayment penalty from Net Collateral Proceeds, Net Inventory Proceeds and Land Notes.

Tranche C. The Tranche C Borrower may not deliver a Utilisation Request unless the Facility Agent has notified the Tranche C Borrower that the Facility Agent has received all of the documents and evidence listed in Part I C of Schedule 2 (Conditions precedent), (save for such documents and evidence that is only required in relation to Tranche A) in form and substance satisfactory to the Facility Agent acting on the instructions of the Majority Tranche C Lenders (each acting reasonably). The Facility Agent shall give this notice promptly upon being so satisfied.