Common use of Second Loan Clause in Contracts

Second Loan. (a) The aggregate principal balance, plus accrued but unpaid interest, on the Second Loan, shall be repaid by Medivation from proceeds of the Offering. (b) Upon closing of the Transaction, the Second Warrant shall become exerciseable, automatically and without further action on the part of either Dara or Medivation, to purchase shares of Orion Common Stock at the Offering Price per share. For purposes of the termination provisions of the Second Warrant, the Transaction will be deemed not to constitute a “Change of Control” of Medivation, with the consequence that the Second Warrant will remain exercisable following completion of the Transaction in accordance with its terms, except for the change in underlying security and purchase price specified in this Section 2(b).