Common use of Commitment Commencement Date Clause in Contracts

Commitment Commencement Date. The satisfaction of the Applicable Funding Conditions for this Credit Facility. Commitment Termination Date: the earliest to occur of (a) June 30, 2019, and (b) an Event of Default. Minimum Credit Extension Amount: $2,500,000 Commencing on the first day of January 1, 2020 (the “Initial Amortization Start Date”), and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by forty-two (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition (as defined below) has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by thirty six (36). Commencing on the first day the Initial Amortization Start Date, and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by forty-six (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by thirty six (36). Commencing on the first day the Initial Amortization Start Date, and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #3 divided by forty-two (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #3 divided by thirty six (36).

Commitment Commencement Date. The satisfaction of the Applicable Funding Conditions for this Credit Facility. Commitment Termination Date: the earliest to occur of (a) June 30March 31, 20192022, and (b) the delivery of a written notice by Agent to Borrower terminating the Applicable Commitments following an Event of DefaultDefault that has not been waived or cured at the time such notice is delivered. Minimum Credit Extension Amount: $2,500,000 20,000,000.00 Commencing on the first day of January October 1, 2020 2021 (the “Initial Amortization Start Date”), ) and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by fortythirty-two six (4236); provided if Borrower provides evidence satisfactory to Agent that the applicable IO Extension Condition Conditions (as defined below) has have been satisfied at least ten (10) days Business Days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 the applicable Extended Amortization Start Date and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by thirty six the number of full calendar months remaining (36)including the month in which the first amortization payment is made) before the occurrence of the Maturity Date. Credit Facility #2: Commencing on the first day the Initial Amortization Start Date, Date and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by fortythirty-six (4236); provided if Borrower provides evidence satisfactory to Agent that the applicable IO Extension Condition has Conditions (as defined below) have been satisfied at least ten (10) days Business Days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the applicable Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 the Extended Amortization Start Date and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by thirty six the number of full calendar months remaining (36)including the month in which the first amortization payment is made) before the occurrence of the Maturity Date. Credit Facility #3: Commencing on the first day the Initial Amortization Start Date, Date and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #3 divided by fortythirty-two six (4236); provided if Borrower provides evidence satisfactory to Agent that the applicable IO Extension Condition has Conditions (as defined below) have been satisfied at least ten (10) days Business Days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the applicable Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 the Extended Amortization Start Date and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #3 divided by thirty six the number of full calendar months remaining (36including the month in which the first amortization payment is made) before the occurrence of the Maturity Date. Credit Facility #4: Commencing on the latest to occur of (a) the Initial Amortization Start Date, (b) the first day of the first full calendar month immediately following such Credit Extension, and (c) the applicable Extended Amortization Start Date (if any)., and, in each case, continuing on the first day of each calendar month thereafter, an amount equal the outstanding Credit Extension in respect of Credit Facility #4 divided by the number of full calendar months remaining (including such first full calendar month) before the occurrence of the Maturity Date. Notwithstanding anything to the contrary contained in the foregoing, the entire remaining outstanding principal balance under all Credit Extensions shall mature and be due and payable upon the Maturity Date. For purposes hereof of this Amortization Schedule, the following terms shall have the following meanings:

Commitment Commencement Date. The satisfaction of the Applicable Funding Conditions for this Credit Facility. Commitment Termination Date: the earliest to occur of (a) June 30, 20192021, and (b) the delivery of a written notice by Agent to Borrower terminating the Applicable Commitments following an Event of DefaultDefault that has not been waived or cured at the time such notice is delivered. Minimum Credit Extension Amount: $2,500,000 25,000,000.00 Midcap / MannKind / Credit and Security Agreement Commencing on the first day of January September 1, 2020 2021 (the “Initial Amortization Start Date”), ) and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by fortythirty-two (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition (as defined below) has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by thirty six (36). Credit Facility #2: Commencing on the first day of the Initial Amortization Start Date, Date and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by fortythirty-six (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by thirty six (36). Credit Facility #3: Commencing on the later of (a) the Amortization Start Date and (b) the first day of the Initial Amortization Start Datefirst full calendar month immediately following such Credit Extension and, and in each case, continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under outstanding Credit Extension in respect of Credit Facility #3 divided by forty-two the number of full calendar months remaining (42); provided if Borrower provides evidence satisfactory to Agent that including such first full calendar month) before the IO Extension Condition has been satisfied at least ten (10) days prior occurrence of the Maturity Date. Notwithstanding anything to the Initial Amortization Start Date contrary contained in the foregoing, the entire remaining outstanding principal balance under all Credit Extensions shall mature and no Default be due and payable upon the Maturity Date. Midcap / MannKind / Credit and Security Agreement Borrower shall satisfy and complete each of the following obligations, or Event provide Agent with each of Default has occurred and is continuing the items listed below, as applicable, on or before the date which such notice is delivered or on the Initial Amortization Start Dateindicated below, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal all to the aggregate principal amount advanced under Credit Facility #3 divided by thirty six (36).satisfaction of Agent in its sole and absolute discretion:

Commitment Commencement Date. The satisfaction of the Applicable Funding Conditions for this Credit Facility. Commitment Termination Date: the earliest to occur of (a) June 30March 31, 20192023, and (b) the delivery of a written notice by Agent to Borrower terminating the Applicable Commitments following an Event of DefaultDefault that has not been waived or cured at the time such notice is delivered. Minimum Credit Extension Amount: $2,500,000 20,000,000.00 Commencing on the first day of January October 1, 2020 2021 (the “Initial Amortization Start Date”), ) and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by fortythirty-two six (4236); provided if Borrower provides evidence satisfactory to Agent that the applicable IO Extension Condition Conditions (as defined below) has have been satisfied at least ten (10) days Business Days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 the applicable Extended Amortization Start Date and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by thirty six the number of full calendar months remaining (36)including the month in which the first amortization payment is made) before the occurrence of the Maturity Date. Credit Facility #2: Commencing on the first day the Initial Amortization Start Date, Date and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by fortythirty-six (4236); provided if Borrower provides evidence satisfactory to Agent that the applicable IO Extension Condition has Conditions (as defined below) have been satisfied at least ten (10) days Business Days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the applicable Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 the Extended Amortization Start Date and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by thirty six the number of full calendar months remaining (36)including the month in which the first amortization payment is made) before the occurrence of the Maturity Date. Credit Facility #3: Commencing on the latest to occur of (a) the first day of the Initial first full calendar month immediately following such Credit Extension, and (b) the applicable Extended Amortization Start DateDate (if any), and and, in each case, continuing on the first day of each calendar month thereafter, Borrowers shall make principal payments in an amount equal to the aggregate principal amount advanced under outstanding Credit Extension in respect of Credit Facility #3 divided by forty-two the number of full calendar months remaining (42); provided if Borrower provides evidence satisfactory to Agent that including such first full calendar month) before the IO Extension Condition has been satisfied at least ten (10) days prior to occurrence of the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Maturity Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #3 divided by thirty six (36).. ​

Commitment Commencement Date. The satisfaction of the Applicable Funding Conditions for this Credit Facility. Commitment Termination Date: the earliest to occur of (a) June 30March 31, 20192022, (b) the date on which any Credit Extensions are made by the Lenders in respect of Credit Facility #4, and (bc) the delivery of a written notice by Agent to Borrower terminating the Applicable Commitments following an Event of DefaultDefault that has not been waived or cured at the time such notice is delivered. Minimum Credit Extension Amount: $2,500,000 20,000,000.00 ​ Commencing on the first day of January October 1, 2020 2021 (the “Initial Amortization Start Date”), ) and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by fortythirty-two six (4236); provided if Borrower provides evidence satisfactory to Agent that the applicable IO Extension Condition Conditions (as defined below) has have been satisfied at least ten (10) days Business Days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 the applicable Extended Amortization Start Date and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by thirty six the number of full calendar months remaining (36)including the month in which the first amortization payment is made) before the occurrence of the Maturity Date. Credit Facility #2: Commencing on the first day the Initial Amortization Start Date, Date and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by fortythirty-six (4236); provided if Borrower provides evidence satisfactory to Agent that the applicable IO Extension Condition has Conditions (as defined below) have been satisfied at least ten (10) days Business Days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the applicable Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 the Extended Amortization Start Date and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by thirty six the number of full calendar months remaining (36)including the month in which the first amortization payment is made) before the occurrence of the Maturity Date. Credit Facility #3: Commencing on the first day latest to occur of (a) the Initial Amortization Start Date, (b) the first day of the first full calendar month immediately following such Credit Extension, and (c) the applicable Extended Amortization Start Date (if any), and, in each case, continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under outstanding Credit Extension in respect of Credit Facility #3 divided by forty-two the number of full calendar months remaining (42); provided if Borrower provides evidence satisfactory to Agent that including such first full calendar month) before the IO Extension Condition has been satisfied at least ten (10) days prior to occurrence of the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Maturity Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #3 divided by thirty six (36).. ​