Tranche 1. Borrower shall request a Term Loan under Tranche 1 in the principal amount of Two Million Five Hundred Thousand Dollars ($2,500,000) as of the Closing Date. The Tranche 1 Advance shall be used to repay Borrower’s indebtedness to Oxford Finance LLC. Bank will credit any proceeds remaining after that payment to Borrower’s account with Bank.
Appears in 2 contracts
Sources: Loan and Security Agreement (Viveve Medical, Inc.), Loan and Security Agreement (Viveve Medical, Inc.)