Common use of Tranche 3 Clause in Contracts

Tranche 3. Subject to the terms and conditions of this Agreement, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case, following the satisfaction of the Tranche 3 Milestone and on or prior to June 15, 2025, additional Term Loan Advances in an aggregate principal amount of up to Fifteen Million Dollars ($15,000,000) plus, solely if the Tranche 2 Milestone was not achieved on or prior to June 15, 2024 and therefore no Tranche 2 Advance has been made, additional Term Loan Advances in an aggregate principal amount up to Ten Million Dollars ($10,000,000) in minimum increments of Five Million Dollars ($5,000,000) (or if less, the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(a)(iii)) (each, a “Tranche 3 Advance”).

Tranche 3. Subject to the terms and conditions of this Agreement, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case, following the satisfaction of during the Tranche 3 Milestone and on Availability Period, one or prior to June 15, 2025, more additional Term Loan Advances in an aggregate principal amount minimum increments of up to Fifteen Twenty-Two Million Five Hundred Thousand Dollars ($15,000,000) plus, solely if the Tranche 2 Milestone was not achieved on or prior to June 15, 2024 and therefore no Tranche 2 Advance has been made, additional Term Loan Advances in an aggregate principal amount up to Ten Million Dollars ($10,000,000) in minimum increments of Five Million Dollars ($5,000,00022,500,000) (or if less, the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(a)(iii)) in an aggregate principal amount up to (eachx) Forty-Five Million Dollars ($45,000,000) plus (y) the undrawn Tranche 2 Commitment, if any, following the expiration of the Tranche 2 Availability Period (such Term Loan Advance, a “Tranche 3 Advance”, and, collectively, the “Tranche 3 Advances”).

Tranche 3. Subject to the terms and conditions of this Agreement, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case, following the satisfaction of the 2025 Tranche 3 Milestone and on or prior to June 15, 20252027, additional 2025 Term Loan Advances in an aggregate principal amount of up to Fifteen Twenty Million Dollars ($15,000,00020,000,000) plus, solely if the 2025 Tranche 2 Milestone was not achieved on or prior to June 15, 2024 2026 and therefore no 2025 Tranche 2 Advance has been made, additional 2025 Term Loan Advances in an aggregate principal amount up to Ten Million Dollars ($10,000,000) ), in minimum increments of Five Million Dollars ($5,000,000) (or if less, the remaining amount of 2025 Term Loan Advances available to be drawn pursuant to this Section 2.2(a)(iii2.2.1(a)(iii)) (each, a “2025 Tranche 3 Advance”).