Common use of Tranche 2 Clause in Contracts

Tranche 2. Subject to the terms and conditions of this Agreement, including, without limitation, those in Section 2.1(b), beginning on the date that the Tranche 1 Advances have been made in full, or, after December 31, 2026, Borrower may request and Lenders shall severally (and not jointly) make, on or prior to December 31, 2027 but only following and conditioned on the approval by the Lenders’ investment committee in its sole and unfettered discretion, in each case, one or more additional Term Loan Advances in minimum draws of Two Million Five Hundred Thousand Dollars ($2,500,000) in an aggregate principal amount up to Twenty Million Dollars ($20,000,000) (such Term Loan Advances, the “Tranche 2 Advances”).

Tranche 2. Subject to the terms and conditions of this Agreement, including, without limitation, those in Section 2.1(b), beginning on the date that the Tranche 1 Advances have been made in full, or, after December 31, 2026, Borrower may request request, and the Lenders shall severally (and not jointly) make, in each case, beginning on or the Closing Date and continuing through the day prior to December 31the Amortization Date, 2027 but only following and conditioned on the approval by the Lenders’ investment committee in its is sole and unfettered discretion, in each case, one or more additional Term Loan Advances in minimum draws increments of Two Three Million Five Hundred Thousand Dollars ($2,500,0003,000,0000) (or if less, the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(a)(ii)) in an aggregate principal amount up to Twenty Twenty-Five Million Dollars ($20,000,00025,000,000) (such Term Loan Advances, the “Tranche 2 Advances”).