Tranche I Sample Clauses

The 'Tranche I' clause defines the first portion or installment of a larger financial commitment, investment, or loan that is to be disbursed or made available under an agreement. Typically, this clause outlines the specific amount, timing, and conditions under which the initial tranche will be provided, such as meeting certain milestones or documentation requirements. By clearly delineating the terms for the first disbursement, the clause ensures both parties understand when and how funds will be released, thereby reducing uncertainty and facilitating orderly execution of the agreement.
Tranche I. Subject to the terms and conditions of this Agreement, (A) on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance of $15,000,000 and (B) on or prior to March 15, 2023, Borrower may request, and the Lenders shall severally (and not jointly) make, one or more additional Term Loan Advances in minimum increments of $5,000,000 (or if less than $5,000,000 the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.1(a)(i)) in an aggregate principal amount of up to $15,000,000.
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Tranche I. With respect to [__] of the Warrant Shares issuable hereunder, the initial Exercise Price is $10.00 per share (the “Tranche I Warrant Shares”).
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Tranche I. (A) Prior to the First Amendment Effective Date, Lenders severally (and not jointly) made, and ▇▇▇▇▇▇▇▇ drew, Term Loan Advances in an aggregate principal amount of $15,000,000 (the “Tranche I-A Advances”). (B) Subject to the terms and conditions of this Agreement, on the First Amendment Effective Date, Lenders shall severally (and not jointly) make, and ▇▇▇▇▇▇▇▇ agrees to draw, a Term Loan Advance of $10,000,000 (the “Tranche I-B Advance”). (C) Subject to the terms and conditions of this Agreement, beginning on December 1, 2023 until May 31, 2024 (or such earlier date if Lenders elect in their sole discretion), Borrower may request, and Lenders shall severally (and not jointly) make, one Term Loan Advance of Five Million Dollars ($5,000,000) (the “Tranche I-C Advance”, and together with the Tranche I-A Advances and the Tranche I-B Advance, collectively, the “Tranche I Advances” and each, a “Tranche I Advance”).
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Tranche I. Subject to the terms and conditions of this Agreement, on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance of $25,000,000 (“Tranche I”);
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Tranche I. On the earliest practicable date following the One-Year Anniversary (as defined in the Credit Agreement) (the "Tranche I Closing"), the Corporation shall issue to the Investors then a party to this Agreement Warrants exercisable for a number of Warrant Shares equal to (i) a fraction, the numerator of which shall be be the aggregate outstanding principal balance of the Term Loans as of the One-Year Anniversary and the denominator of which shall be the aggregate outstanding principal balance of the Term Loans as of the date hereof, multiplied by (ii) the product of 0.5% times the number of outstanding shares of Common Stock of the Corporation as of the One-Year Anniversary (the "Tranche I Shares"). Each Investor a party to this Agreement on the One-Year Anniversary shall receive that number of the Tranche I Shares that is equal to such Investor’s Applicable Commitment Percentage multiplied by the aggregate number of Tranche I Shares issuable by the Corporation pursuant to this clause (a).
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Tranche I. Subject to the terms and conditions of this Agreement, (A) on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance in an amount equal to Ten Million Dollars ($10,000,000) in accordance with their respective Tranche I Commitments, and (B) at any time from the Closing Date until June 15, 2023, Borrower may request and Lenders shall severally (and not jointly) make one or more additional Term Loan Advances in minimum increments of Five Million Dollars ($5,000,000) (or if less, the remaining amount of Term Loan Advances available to be drawn ACTIVE/129357222 pursuant to this Section 2.1(a)(i)(B)) in an aggregate principal amount up to Ten Million Dollars ($10,000,000) in accordance with their respective Tranche I Commitments (such Term Loan Advances, the “Tranche I Advances”). After repayment, no Tranche I Advance (or any portion thereof) may be reborrowed.
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Tranche I. For and in consideration of the sale, assignment, transfer and conveyance of the Membership Interests by Sellers, on the sixtieth (60th) day after Closing, Buyer shall reimburse ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ for all documented direct operating costs of the Company as well as all costs incurred by the Company in obtaining any Permit to allow the Company to operate a medical waste disposal facility on the Real Property (as hereinafter defined) described in the Real Estate Purchase Contract (as hereinafter defined), such reimbursement not exceed the sum of Seventy Five Thousand and no/100ths Dollars ($75,000.00);
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Tranche I. Subject to the terms and conditions of this Agreement, (A) on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance of $5,000,000, (B) at any time from the Closing Date until December 15, 2022, Borrower may request and Lenders shall severally (and not jointly) make one or more additional Term Loan Advances in minimum increments of $5,000,000 (or if less than $5,000,000 the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.1(a)(i)(B)) in an aggregate principal amount up to $10,000,000, and (C) at any time from the Closing Date until June 30, 2023, Borrower may request and Lenders shall severally (and not jointly) make one or more additional Term Loan Advances in minimum increments of $5,000,000 (or if less than $5,000,000 the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.1(a)(i)(C)) in an aggregate principal amount up to $15,000,000 (such Term Loan Advances, the “Tranche I Advances”).
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Tranche I. For and in consideration of the sale, assignment, transfer and conveyance of the Membership Interests by Sellers, (i) at the election of the Sellers, in their sole discretion, (a) Parent will at Closing issue to the Sellers One Million (1,000,000) shares of Parent’s restricted common stock, par value $0.025 per share (the “Purchase Price Shares”) or (b) Buyer will pay to the Sellers in cash One Million Three Hundred Twenty Thousand and no/100ths Dollars ($1,320,000.00) (the “Deemed Aggregate Value”), such election by the Sellers will be delivered to the Buyer in writing at the Closing; and, (ii) at Closing, Parent will issue to Sellers a warrant (the “Warrant”) for the purchase of 1,000,000 shares of Parent’s restricted common stock in the form of Schedule 2.2. If issued, the Purchase Price Shares will have a deemed value of $1.32 per share (the “Deemed Value Per Share”), and the Purchase Price Shares shall be allocated and issued as follows: Two Hundred Fifty Thousand (250,000) to ▇▇▇▇▇▇▇▇; Two Hundred Fifty Thousand (250,000) to Guest; Two Hundred Fifty Thousand (250,000) to ▇▇▇▇▇▇▇; and Two Hundred Fifty Thousand (250,000) to ▇▇▇▇▇▇▇▇▇▇. If the Sellers elect for that portion of the Purchase Price set forth in subsection (i) above to be paid in the form of cash, such payment will be delivered not later than one hundred eighty (180) days after the Closing Date, and Three Hundred Thirty Thousand Dollars ($330,000.00) will be paid to ▇▇▇▇▇▇▇▇; Three Hundred Thirty Thousand Dollars ($330,000.00) will be paid to Guest Three Hundred Thirty Thousand Dollars ($330,000.00)will be paid to ▇▇▇▇▇▇▇; and Three Hundred Thirty Thousand Dollars ($330,000.00) will be paid to ▇▇▇▇▇▇▇▇▇▇.
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Related to Tranche I

  • Tranche B Term Loans Subject to and upon the terms and conditions set forth herein, each Lender with a Tranche B Term Loan Commitment severally agrees to make a term loan (each, a “Tranche B Term Loan” and, collectively, the “Tranche B Term Loans”) to the U.S. Borrower, which Tranche B Term Loans: (i) shall be incurred by the U.S. Borrower pursuant to a single drawing on the Restatement Effective Date for the purposes described in Section 7.05(a); (ii) shall be denominated in Dollars; (iii) except as hereafter provided, shall, at the option of the U.S. Borrower, be incurred and maintained as one or more Borrowings of Base Rate Loans or Eurodollar Loans; provided (A) except as otherwise specifically provided in Section 1.10(b), all Tranche B Term Loans made as part of the same Borrowing shall at all times consist of Tranche B Term Loans of the same Type and (B) unless the Administrative Agent has determined that the Syndication Date has occurred (at which time this clause (B) shall no longer be applicable), no more than four Borrowings of Tranche B Term Loans to be maintained as Eurodollar Loans may be incurred prior to the 30th day after the Restatement Effective Date (or, if later, the last day of the Interest Period applicable to the fourth Borrowing of Eurodollar Loans referred to below), each of which Borrowings of Eurodollar Loans may only have an Interest Period of one week, and the first of which Borrowings may be made no earlier than the third Business Day, and no later than the fifth Business Day, after the Restatement Effective Date, the second of which Borrowings may only be made on the last day of the Interest Period of the first such Borrowing, the third of which Borrowings may only be made on the last day of the Interest Period of the second such Borrowing and the fourth of which Borrowings may only be made on the last day of the Interest Period of the third such Borrowing; and (iv) shall be made by each Lender in that initial aggregate principal amount as is equal to the Tranche B Term Loan Commitment of such Lender on the Restatement Effective Date (before giving effect to the termination thereof on such date pursuant to Section 3.03(b)). Once repaid, Tranche B Term Loans incurred hereunder may not be reborrowed.

  • Incremental Loans Any Incremental Term Loans or Incremental Revolving Commitments effected through the establishment of one or more new term loans or new revolving credit commitments, as applicable, made on an Incremental Facility Closing Date (other than a Loan Increase) shall be designated a separate Class of Incremental Term Loans or Incremental Revolving Commitments, as applicable, for all purposes of this Agreement. On any Incremental Facility Closing Date on which any Incremental Term Commitments of any Class are effected (including through any Term Loan Increase), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental Term Lender of such Class shall make a Loan to the Borrower (an “Incremental Term Loan”) in an amount equal to its Incremental Term Commitment of such Class and (ii) each Incremental Term Lender of such Class shall become a Lender hereunder with respect to the Incremental Term Commitment of such Class and the Incremental Term Loans of such Class made pursuant thereto. On any Incremental Facility Closing Date on which any Incremental Revolving Commitments of any Class are effected through the establishment of one or more new revolving credit commitments (including through any Revolving Commitment Increase), subject to the satisfaction of the terms and conditions in this Section 2.14, (i) each Incremental Revolving Lender of such Class shall make its Commitment available to the Borrower (when borrowed, an “Incremental Revolving Loan” and collectively with any Incremental Term Loan, an “Incremental Loan”) in an amount equal to its Incremental Revolving Commitment of such Class and (ii) each Incremental Revolving Lender of such Class shall become a Lender hereunder with respect to the Incremental Revolving Commitment of such Class and the Incremental Revolving Loans of such Class made pursuant thereto.

  • Initial Loans This Agreement shall not become effective nor shall the Lenders be required to make the initial Loans unless (i) since December 31, 2009, no event, development or circumstance shall have occurred that has had, or could reasonably be expected to have, a material adverse effect on the business, assets, operations or financial condition of Harley and its subsidiaries taken as a whole and (ii) the Borrowers shall have (a) paid all fees required to be paid in connection with the execution of this Agreement, (b) furnished to the Global Administrative Agent, with sufficient copies (other than in the case of any Notes) for each of the Lenders, such documents as the Global Administrative Agent or any Lender or its counsel may have reasonably requested, including, without limitation, all of the documents reflected on the List of Closing Documents attached as Exhibit D to this Agreement, (c) obtained all governmental and third party approvals necessary in connection with the financing contemplated hereby and the continuing operations of Harley and its Subsidiaries (including the Borrowers) and such approvals remain in full force and effect, (d) delivered to the Lenders (1) audited consolidated financial statements of Harley (on a Consolidated basis), (2) unaudited Consolidated financial statements of Harley (excluding HDFS and its Subsidiaries), (3) audited Consolidated financial statements of HDFS and its Subsidiaries (on a Consolidated basis), in the case of each of the foregoing clauses (1), (2) and (3), for the two most recent fiscal years ended prior to the Closing Date as to which such financial statements are available and (4) financial statement projections of (A) Harley (on a Consolidated basis), (B) Harley (excluding HDFS and its Subsidiaries) and (C) HDFS and its Subsidiaries, in the case of each of the foregoing clauses (A), (B) and (C), for the 2010 fiscal year, together with key underlying assumptions in reasonable detail and (e) delivered evidence reasonably satisfactory to the Global Administrative Agent of the payment of all principal, interest, fees and premiums, if any, on all Indebtedness under the Existing Credit Agreement, and the termination of the applicable agreements relating thereto, all taking effect concurrently with the effectiveness of this Agreement; provided that any Lender hereunder which is also a “Lender” under the Existing Credit Agreement hereby waives any requirement of five (5) Business Days notice by the “Borrowers” under the Existing Credit Agreement prior to the reduction of the commitments thereunder and the termination thereof.

  • Tranches Notwithstanding anything to the contrary contained herein, no more than ten (10) LIBOR Rate Loans may be outstanding hereunder at any one time during the Availability Period.

  • Tranche A Term Loans Subject to the terms and conditions set forth herein, each Tranche A Term Loan Lender agrees to make a Tranche A Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche A Term Loan Commitment. Amounts repaid in respect of Tranche A Term Loans may not be reborrowed hereunder.