Success Fee. Upon a Success Fee Event, Borrower shall pay to Bank a one-time fee of $500,000 (the “Success Fee”). This Section 2.5(b) shall survive any termination of this Agreement. If this Agreement is terminated prior to payment of the Success Fee, Borrower shall give Bank written notice of the first Success Fee Event to occur thereafter and pay the Success Fee upon the consummation of such Success Fee Event.
Appears in 3 contracts
Sources: Loan and Security Agreement (Xilio Therapeutics, Inc.), Loan and Security Agreement (Xilio Therapeutics, Inc.), Loan and Security Agreement (Xilio Therapeutics, Inc.)
Success Fee. Upon a Success Fee Event, Borrower shall pay to Bank a one-time fee equal to the greater of $500,000 (i) four percent (4.0%) of the “Success Fee”)aggregate Advances and (ii) one percent (1.0%) of the Revolving Line as of the Effective Date. This Section 2.5(b2.5(c) shall survive any termination of this Agreement. If this Agreement is terminated prior to payment of the Success Fee, Borrower shall give Bank written notice of the first Success Fee Event to occur thereafter and pay the Success Fee upon the consummation closing of such Success Fee Event.
Appears in 2 contracts
Sources: Loan and Security Agreement (Maze Therapeutics, Inc.), Loan and Security Agreement (Maze Therapeutics, Inc.)
Success Fee. Upon a Success Fee Event, Borrower shall pay to Bank a one-time fee of $500,000 450,000.00 (the “Success Fee”). This Section 2.5(b2.4(c) shall survive any termination of this AgreementAgreement until the tenth (10th) anniversary of the Closing Date. If this Agreement is terminated prior to payment of the Success Fee, Borrower shall shall, give Bank written notice of the first Success Fee Event to occur thereafter thereafter, and pay the Success Fee upon the consummation closing of such Success Fee Event.
Appears in 1 contract