Draw Period B definition

Draw Period B is the period of time from January 1, 2010 through the earlier to occur of (a) August 31, 2010 or (b) an Event of Default, which shall only be an available draw period upon Borrower’s satisfaction of the Equipment Advance B Conditions.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Draw Period B is the period of time from the occurrence of the Equity Event through the earlier to occur of (a) December 31, 2013 or (b) an Event of Default.

Draw Period B is set forth on Schedule I hereto.

Examples of Draw Period B in a sentence

Subject to the terms and conditions of this Agreement, during Draw Period B, Bank shall make advances (each, a “Term B Loan Advance” and collectively, the “Term B Loan Advances”) available to Borrower in an aggregate principal amount not to exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00).
Subject to the terms and conditions of this Agreement, during Draw Period B, upon Borrower’s request, Bank shall make advances (each a “Term B Loan Advance” and collectively, the “Term B Loan Advances”) to Borrower in the aggregate original principal amount not to exceed Ten Million Dollars ($10,000,000.00).
Subject to the terms and conditions of this Agreement, during Draw Period B, Bank shall make one (1) advance (the “Term B Loan Advance”) available to Borrower in an original principal amount not to exceed Five Million Dollars ($5,000,000.00).
Equipment Advances B outstanding on the last day of the Draw Period B are payable in (i) thirty-six (36) consecutive equal monthly installments of principal plus (ii) monthly payments of accrued interest, beginning on September 1, 2010 and ending on August 1, 2013, on which all remaining Equipment Advances B shall be repaid in full together with all unpaid and accrued interest and all other Obligations relating thereto.
Subject to the terms and conditions of this Agreement, upon ▇▇▇▇▇▇▇▇’s request, during Draw Period B, Bank shall make term loan advances in an amount not exceeding the Term B Loan Availability Amount (each such advance is referred to herein as a “Term B Loan Advance” and, collectively, as the “Term B Loan Advances”).

More Definitions of Draw Period B

Draw Period B. “Draw Period B” is the period commencing upon the occurrence of the Term B Milestone Event and ending on March 31, 2025.

Draw Period B is the period of time commencing upon the occurrence of the Term B Event and continuing through November 9, 2017.

Draw Period B is the period of time commencing upon the Effective Date and continuing through the earlier to occur of June 30, 2020.

Draw Period B is the period of time commencing upon the occurrence of the IP Release Event and continuing through May 17, 2017.

Draw Period B means the period of time commencing upon the occurrence of the Funding Condition and continuing through the earliest to occur of (a) June 30, 2020, or (b) an Event of Default.

Draw Period B is defined in the definition of Non-Formula Revolving Line Draw Period. “Effective Date” is defined in the preamble hereof. “Eligible Accounts” means Accounts which arise in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.

Draw Period B. “Draw Period B” is the period commencing as of the Effective Date and ending on January 31, 2027, which shall be extended to July 31, 2027 upon the occurrence of the Interest-Only Extension Event.