| We will negotiate as we go along in terms of drawing down tranches of the money. |
| Instead, as they were in the midst of an ad slump and eager to get their hands on big tranches of money, they leapt at the arrangement. |
| A number of directors have purchased tranches of the shares to maintain their proportionate interests in the enlarged share capital. |
| The plan envisaged that the number of shares they held would be increased in tranches over several years. |
| It will set aside equal shares for two tranches if the retail portion is more than 100 times oversubscribed. |
| After that, money is released in tranches, after various key stages are completed and valued for the purpose of releasing the advance. |
