Co-Funding Amount definition

Co-Funding Amount shall have the meaning assigned in Section 6.1.

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Co-Funding Amount means, with respect to any Advance made on or after the date hereof in connection with a particular Eligible Loan, an amount equal to the difference of the Total Fundings associated with such Eligible Loan minus the amount of such Advance, which Co-Funding Amount shall be provided in accordance with the terms of Section 7.28. Collateral is defined in Section 3.1.

Co-Funding Amount means the amount set out in item 2 in Schedule 1.

Examples of Co-Funding Amount in a sentence

Ardelyx shall pay the Co-Funding Amount ratably without interest over the anticipated period of the Phase 3 Clinical Trial Development, on a quarterly basis within forty-five (45) days after the commencement of each Calendar Quarter during such period, and Ardelyx shall have the right to pay all or a portion of any quarterly payment in advance of the date it would otherwise be due.
If Ardelyx fails to pay any portion of the Co-Funding Amount on the relevant due date set forth in the Payment Schedule and does not rectify such breach by paying the amount due within forty-five (45) days after AstraZeneca’s written notice of such breach to Ardelyx, then Ardelyx shall not be entitled to any increase in royalty rates pursuant to Section 9.5(d) and any previous payments under the Payment Schedule will be non-refundable and non-creditable.
In the event that the Phase 3 Clinical Trial Development extends beyond the expected time as set forth in the Development Plan, Ardelyx shall have no further obligations to make payments after it has fully paid the Co-Funding Amount.
As soon as reasonably practicable following AstraZeneca’s receipt of the Co-Funding Exercise Notice, the Parties shall, by reference to the Development Plan approved by the DCC, determine the length of time during which the Phase 3 Clinical Trial Development is anticipated to be conducted and execute a written payment schedule for Ardelyx’s payment of the Co-Funding Amount to AstraZeneca (the “Payment Schedule”), which Payment Schedule shall reflect the following.
If the Phase 3 Clinical Trial Development is Completed prior to Ardelyx’s payment of the Co-Funding Amount in its entirety, Ardelyx’s payment due in the first Calendar Quarter after such Completion shall cover all of the Co-Funding Amount not yet paid (i.e. be equal to the then unpaid portion of the Co-Funding Amount).
The increase shall be determined based upon the Co-Funding Amount committed and paid by Ardelyx for the relevant Licensed Product, as set forth below: Co-Funding Amount Percentage Point Increase in Royalty Rate U.S. $20,000,000 1% U.S. $30,000,000 2% U.S. $40,000,000 3% [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Following Ardelyx’s exercise of the Co-Funding Option, Ardelyx shall be irrevocably committed to fund the amount of the Phase 3 Clinical Trial Development set forth in the Co-Funding Exercise Notice delivered to AstraZeneca and shall, subject to Section 6.2, after having provided the Co-Funding Amount be entitled to an increase of royalty rates pursuant to Section 9.5(d) for sales of the relevant Licensed Product for all indications.
Notwithstanding the limitations set forth above in this Section 7.28, provided no Default or Event of Default exists, the Borrowers may accept payment of the applicable Co-Funding Amount delivered in connection with a particular Pledged Asset upon the Agent’s receipt in full in cash of the Release Amount applicable to such Pledged Asset.
The applicable Co-Funding Amount shall have been deposited by the Borrowers into the Funding Account.
The applicable Co-Funding Amount, if any, shall have been deposited by the Borrower into the Funding Account.

More Definitions of Co-Funding Amount

Co-Funding Amount means the portion of each Direct Convertible Loan or Direct Investment that was or shall be provided by the Borrower to a Property Partnership or the portion of each Capital Contribution that was or shall be provided by the Borrower to a MTE, rather than by a Loan. The Co-Funding Amount associated with any Loan made or issued in order to permit the Borrower to make a Capital Contribution, Direct Investment or Direct Convertible Loan shall equal ten percent (10%) of the total principal amount of such Capital Contribution, Direct Investment or Direct Convertible Loan. The Borrower and the Guarantors hereby covenant and agree that all Co-Funding Amounts shall be made available to the Borrower solely by one or more of the Guarantors and that such Guarantor or Guarantors shall provide such Co-Funding Amounts solely by either making a capital contribution to the Borrower or by lending such Co-Funding Amount to the Borrower. In the event that a Guarantor lends Co-Funding Amounts to the Borrower, such loans shall be unsecured and shall be entered on the books of such Guarantor or Guarantors and the Borrower, but shall otherwise not be evidenced by any promissory note or other instrument, agreement or writing of any kind (in order to assure that any such loan will not become collateral for any third party creditor of such Guarantor or Guarantors). The Borrower and Guarantors each agree that all Co-Funding Amounts provided to the Borrower, and any obligation of the Borrower to any Guarantor (or to any other entity in the event the Borrower violates its covenant to obtain Co-Funding Amounts solely from any one or more of the Guarantors) regarding any Co-Funding Amounts, shall be and hereby is fully subordinated to any Loans made or issued with respect to the Property Partnership with respect to which such Co-Funding Amount is provided, such that no Co-Funding Amount shall be repaid to the Borrower or any Guarantor (or any such other entity) until such time as the Release Conditions with respect to such Property Partnership have been satisfied and provided that no Event of Default beyond any applicable notice and cure period has occurred and is continuing.

Co-Funding Amount means the dollar amount of the Co-funding to be provided by Spongebob, as specified in the relevant Project Statement of Work.