Common use of Tranche 5 Clause in Contracts

Tranche 5. Subject to the terms and conditions of this Agreement, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case, at any time during the Tranche 5 Commitment Period, and conditioned on approval by Lenders’ investment committee in its sole and unfettered discretion, one or more additional Term Loan Advances in minimum increments of the Minimum Advance Amount (or if less, the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(a)(v)) in an aggregate principal amount up to the Tranche 5 Commitment (such Term Loan Advances, the “Tranche 5 Advances”).

Appears in 2 contracts

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

Tranche 5. Subject to the terms and conditions of this Agreement, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case, at any time during beginning on Closing Date and continuing through the Tranche 5 Commitment Periodlast Business Day prior to the Term Loan Maturity Date, and conditioned on approval by Lenders’ investment committee in its is sole and unfettered discretion, one or more additional Term Loan Advances in minimum increments of the Tranche 5 Minimum Advance Amount (or if less, the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(a)(v)) in an aggregate principal amount up to the Tranche 5 Commitment (such Term Loan Advances, the “Tranche 5 Advances”).

Appears in 1 contract

Sources: Loan and Security Agreement (MoonLake Immunotherapeutics)