Common use of Term Advances Clause in Contracts

Term Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Advances to Borrower. Borrower may request Term Advances at any time from the Closing Date through the Term Availability End Date. The aggregate outstanding amount of Term Advances shall not exceed the Term Line. (ii) Interest shall accrue from the date of each Term Advance at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Term Advances that are outstanding on the Term Availability End Date shall be payable in twenty seven (27) equal monthly installments of principal, plus all accrued interest, beginning on October 30, 2009 and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all amounts due in connection with Term Advances made under this Section 2.1(d) shall be immediately due and payable. Term Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Advances without penalty or premium. (iii) When Borrower desires to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p m. Pacific time three (3) Business Days before the day on which the Term Advance is to be made. Such notice shall be substantially in the form of Exhibit B. The notice shall be signed by a Responsible Officer or its designee.

Appears in 2 contracts

Sources: Loan and Security Agreement (Vocera Communications, Inc.), Loan and Security Agreement (Vocera Communications, Inc.)

Term Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Advances to Borrower. Borrower may request Term Advances at any time from the Closing Date through the Term Availability End Date. The aggregate outstanding amount of Term Advances shall not exceed the Term Line. (ii) Interest shall accrue from the date of each Term Advance at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c). Any Term Advances that are outstanding on the Term Availability End Date June 15, 2007 shall be payable in twenty seven (27) 30 equal monthly installments of principal, plus all accrued interest, beginning on October 30July 15, 2009 2007, and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all amounts due in connection with Term Advances made under this Section 2.1(d2.1(b) and any other amounts due under this Agreement shall be immediately due and payable. Term Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Advances Advances, at any time and from time to time, without penalty or premium. (iii) When Borrower desires to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p m. Pacific p.m. Eastern time three (3) one Business Days Day before the day on which the Term Advance is to be made. Such notice shall be substantially in the form of Exhibit B. C. The notice shall be signed by a Responsible Officer or its designee.

Appears in 1 contract

Sources: Loan and Security Agreement (Akesis Pharmaceuticals, Inc.)

Term Advances. (i) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Advances to Borrower. Borrower may request Term Advances at any time from the Closing Date through May 15, 2008, Bank agrees to make term advances to Borrower (each a “Term Advance” and collectively, the Term Availability End Date. The Advances”) in an aggregate outstanding amount of Term Advances shall not to exceed the Term Line. (ii) Interest shall accrue from the date of each Term Advance at the rate specified in Section 2.3(a), ) and shall be payable in accordance with Section 2.3(c). Any Term Advances that are outstanding on the Term Availability End Date November 15, 2007 shall be payable in twenty seven (27) 36 equal monthly installments of principal, plus all accrued interest, beginning on October 30December 1, 2009 2007, and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all amounts due owing in connection with the Term Advances made and any other amounts owing under this Section 2.1(d) Agreement shall be immediately due and payable. Any Term AdvancesAdvances that are outstanding on May 15, 2008 (which were not outstanding on November 15, 2007) shall be payable in 36 equal monthly installments of principal, plus all accrued interest, beginning on June 1, 2008, and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all amounts owing in connection with the Term Advances and any other amounts owing under this Agreement shall be immediately due and payable. The Term Advances or any portion thereof, once repaid, may not be reborrowed. Borrower may prepay any Term Advances without penalty or premium. (iii) When Borrower desires to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p m. p.m. Pacific time three (3) Business Days before the day on which the Term Advance is to be made. Such notice shall be substantially in the form of Exhibit B. C. The notice shall be signed by a Responsible Officer or its designee.

Appears in 1 contract

Sources: Loan and Security Agreement (Zonare Medical Systems Inc)

Term Advances. (i) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through the first anniversary of the Closing Date (the “Availability End Date”), Bank agrees to make Term Advances to Borrower. Borrower may request Term Advances at any time from in an aggregate amount not to exceed the Closing Date through lesser of (i) the Term Availability End Date. The aggregate outstanding amount of Term Advances shall not exceed the Term Line. Line or (ii) the Borrowing Base. Interest shall accrue from the date of each Term Advance at the rate specified in Section 2.3(a)2.3, and shall be payable in accordance with Section 2.3(c)monthly on the first day of each month so long as any Term Advances are outstanding. Any Term Advances that are outstanding on the Term Availability End Date shall be payable in twenty seven thirty six (2736) equal monthly installments of principal, plus all accrued interest, beginning on October 30February 1, 2009 2008, and continuing on the same day of each month thereafter through the Term Maturity Date, at which time all amounts due in connection with Term Advances made owing under this Section 2.1(d2.1(b) and any other amounts owing under this Agreement shall be immediately due and payable. Term Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Advances without penalty or premium. (iii) . When Borrower desires to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p m. p.m. Pacific time three (3) Business Days before the day on which the Term Advance is to be made. Such notice shall be substantially in the form of Exhibit B. The notice shall be signed by a Responsible Officer or its designee.

Appears in 1 contract

Sources: Loan and Security Agreement (Kana Software Inc)

Term Advances. (ia) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Term Advances to Borrower. Borrower may request Term Advances at any time from the Closing Date date hereof through February 15, 1999, Bank agrees to make advances (each a "Term Advance" and, collectively, the "Term Availability End Date. The Advances") to Borrower in an aggregate outstanding amount not to exceed $500,000 on a non-formula basis for general corporate purposes including the refinancing of Term Advances shall not exceed the Term Lineseveral acquired companies. (iib) Interest shall accrue from the date of each Term Advance at the rate specified in Section 2.3(a2.3((a)), and shall be payable in accordance with Section 2.3(c)monthly on the fifteenth day of each month through February 15, 1999. Any Term Advances that are outstanding on the Term Availability End Date February 15, 1999 shall be payable in twenty seven twenty-nine (2729) equal monthly installments of principal, plus all accrued interest, beginning on October 30March 15, 2009 1999, and continuing on the same day of each month thereafter through the Term Maturity DateJuly 15, 2001, at which time all amounts due in connection with Term Advances made under this Section 2.1(d) 2.1.2 and any other amounts due under this Agreement shall be immediately due and payable. Term Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Advances without penalty or premium. (iiic) When Borrower desires to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p m. p.m. Pacific time three one (31) Business Days Day before the day on which the Term Advance is to be made. Such notice shall be substantially in the form of Exhibit B. The notice shall be signed by a Responsible Officer or its designee.

Appears in 1 contract

Sources: Loan and Security Agreement (Uol Publishing Inc)

Term Advances. (i) Subject to and upon the terms and conditions of this Agreement, at any time from the date hereof through April 1, 2006, Bank agrees to make Term Advances to Borrower. Borrower may request Term Advances at any time from in an aggregate amount not to exceed Four Million Dollars ($4,000,000), provided that the Closing Date through the Term Availability End Date. The aggregate outstanding amount of Term Advances Credit Extensions shall not at no time exceed the Term LineFive Million Dollars ($5,000,000). (ii) Interest shall accrue from the date of each Term Advance at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c)monthly on the first day of each month so long as any Term Advances are outstanding. Any Term Advances that are outstanding on the Term Availability End Date July 1, 2006 shall be payable in twenty seven forty-two (2742) equal monthly installments of principal, plus all accrued interest, beginning on October 30August 1, 2009 2006, and continuing on the same day of each month thereafter through the Term Maturity DateJanuary 1, 2010, at which time all amounts due in connection with Term Advances made owing under this Section 2.1(d2.1(b) shall be immediately due and payable. Term Advances, once repaid, may not be reborrowed. Borrower may prepay any Term Advances without penalty or premium., each prepayment to be applied first to interest, then to principal installments, as directed by the Borrower (iii) When Borrower desires to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:00 p m. Pacific p.m. Eastern time three (3) Business Days before the day on which the Term Advance is to be made. Such notice shall be substantially in the form of Exhibit B. The notice shall be signed by a Responsible Officer or its designee.B.

Appears in 1 contract

Sources: Loan and Security Agreement (Adnexus Therapeutics, Inc.)