Common use of Tranche 2 Clause in Contracts

Tranche 2. On or before the Advance Date for Tranche 2, the Obligors shall have delivered to the Lender the following, each in form and substance acceptable to the Lender: (i) evidence that Tranche 1 has been borrowed in full for the purposes permitted by this Agreement; (ii) delivery or issuance of the R&D Credit in accordance with the terms of the Letter Agreement; (iii) a Solvency Certificate; (iv) an opinion of ▇▇▇▇▇▇▇ & West LLP; (v) payment of ▇▇▇▇▇▇’s costs and expenses, including counsel fees; (vi) all amounts available under the 2019 Foris Loan Agreement and the 2022 Foris Loan Agreement shall have been fully drawn by the Borrower; (vii) confirmation with respect to the Permitted Disposition in accordance with the terms of the Letter Agreement; and (viii) such other customary closing deliverables as the Lender may reasonably require and as is substantially consistent with the closing deliverables set forth in Section 4.1(a).

Tranche 2. On or before the Advance Date for Tranche 2, the Obligors shall have delivered to the Lender the following, each in form and substance acceptable to the Lender: (i) evidence that Tranche 1 has been borrowed in full for the purposes permitted by this Agreement;; 25 (ii) delivery or issuance of the R&D Credit in accordance with the terms of the Letter Agreement; Agreement (Closing Date); (iii) a Solvency Certificate; ; (iv) an opinion of ▇▇▇▇▇▇▇ Fenwick & West LLP; ; (v) payment of ▇▇▇▇▇▇Lender’s costs and expenses, including counsel fees; ; (vi) all amounts available under the 2019 Foris Loan Agreement and the 2022 Foris Loan Agreement shall have been fully drawn by the Borrower; ; (vii) confirmation with respect to the Permitted Disposition in accordance with the terms of the Letter AgreementAgreement (Closing Date); and and (viii) such other customary closing deliverables as the Lender may reasonably require and as is substantially consistent with the closing deliverables set forth in Section 4.1(a).