Draw Credit Maximum Amount definition

Draw Credit Maximum Amount means $25,000,000.
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Draw Credit Maximum Amount means, initially, $15,000,000, increasing to $35,000,000 automatically and without further action or approval by Lender upon occurrence of the FDA Approval Condition, and subject to further increase thereafter as set forth in Section 2.6 below.
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Draw Credit Maximum Amount means, initially, $5,000,000, subject to further increase thereafter to an amount not to exceed $20,000,000 as set forth in Section 2.5 below.
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Examples of Draw Credit Maximum Amount in a sentence

  • After giving effect to all Indebtedness of the Borrower and each Guarantor on the Closing Date (including without limitation the Draw Credit Maximum Amount and all Contingent Obligations) and such other dates as Draws are requested hereunder, the Borrower and each Guarantor is Solvent.

  • If at any time the aggregate principal amount of all Draws exceeds the Draw Credit Maximum Amount then in effect, then Borrower shall immediately pay to Lender such difference, which shall be applied to the Draws, in inverse order of maturity.

  • As of the Closing Date, (i) an aggregate principal amount of $4,781,333.00 of Draws (as defined in the Platinum-Montaur Loan Agreement) outstanding immediately prior to the Closing Date have been indefeasibly prepaid by the Borrower; and (ii) the Draw Credit Maximum Amount (as defined in the Platinum-Montaur Loan Agreement) is no less than $30,000,000.

  • The Term Loan Facility is non-revolving, and Draws repaid may not be re-borrowed; provided, that, the principal amount of the Draws converted pursuant to the Warrant Exercise Agreement, dated as of June 25, 2013, between the Borrower and the Lender $4,781,333.00 shall be available for advances and shall not be deemed to reduce the Draw Credit Maximum Amount.

  • As of the Effective Date, the Draw Credit Maximum Amount (as defined in the Platinum-Montaur Loan Agreement) is no less than Thirty Five Million Dollars ($35,000,000.00), and has not been permanently or temporarily reduced, of which Three Million Two Hundred Eighteen Thousand Six Hundred Sixty Six and 82/100 Dollars ($3,218,666.82) has been advanced.