Second Draw Amount Clause Samples

Second Draw Amount. (A) Borrowers may, on or after February 1, 2015 but no later than April 1, 2015 (the "Second Funding Date" and together with the Initial Funding Date, each a "Funding Date"), provide written notice to Lender of Borrowers’ request for the Second Draw Amount together with an executed Second Milestone Certificate, and upon Lender’s receipt of both of the foregoing, and subject to the condition precedents set forth in Section 2.2(b)B(i)-(vi) below being satisfied in full, Lender shall disburse the Second Draw Amount less the Second Interest Amount (which net amount will be equal to the Second Loan) to Borrowers on the third (3rd) Business Day following Borrowers’ request and delivery of the Second Milestone Certificate. (B) Lender shall not be obligated to make the Second Draw Amount unless Borrowers shall have fulfilled the following conditions: