Common use of Tranche Clause in Contracts

Tranche. 4 Advance. Subject to the terms and conditions of this Agreement and the achievement of the Approval Milestone, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case on or prior to the earlier of (i) March 31, 2026 or (ii) sixty (60) days following the achievement of the Approval Milestone, additional Term Loan Advances in an aggregate principal amount up to Fifty Million Dollars ($50,000,000), in minimum draws of at least Ten Million Dollars ny-2659060 ($10,000,000) (or if less than Ten Million Dollars ($10,000,000), the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(d)) (each, a “Tranche 4 Advance”); provided that Borrower shall not be permitted to request more than two (2) Tranche 4 Advances in total.

Tranche. 4 3 Advance. Subject to the terms and conditions of this Agreement and the achievement of the Approval Milestone, on or prior to the earlier of June 30, 2024 or ninety (90) days following the achievement of the Approval Milestone, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case on or prior to the earlier of (i) March 31, 2026 or (ii) sixty (60) days following the achievement of the Approval Milestone, additional Term Loan Advances in an aggregate principal amount up to Fifty Seventy-Five Million Dollars ($50,000,00075,000,000), in minimum draws of at least Ten Million Dollars ny-2659060 ($10,000,000) (or if less than Ten Million Dollars ($10,000,000), the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(d2.2(cd)) (each, a “Tranche 4 3 Advance”); provided that Borrower shall not be permitted to request more than two (2) Tranche 4 3 Advances in total.

Tranche. 4 Advance. Subject to the terms and conditions of this Agreement and the achievement of the Approval Milestone, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case on or prior to the earlier of (i) March 31, 2026 2025 or (ii) sixty (60) days following the achievement of the Approval Milestone, additional Term Loan Advances in an aggregate principal amount up to Fifty Thirty-Five Million Dollars ($50,000,00035,000,000), in minimum draws of at least Ten Million Dollars ny-2659060 ($10,000,000) (or if less than Ten Million Dollars ($10,000,000), the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(d)) (each, a “Tranche 4 Advance”); provided that Borrower shall not be permitted to request more than two (2) Tranche 4 Advances in total.