Examples of Platinum Loan Agreement in a sentence
The events of default under the CRG Loan Agreement also include a failure of Platinum to perform its funding obligations under the Platinum Loan Agreement at any time as to which the Company had negative EBITDA for the most recent fiscal quarter, as a result either of Platinum’s repudiation of its obligations under the Platinum Loan Agreement, or the occurrence of an insolvency event with respect to Platinum.
Each of Platinum-Montaur Life Sciences LLC and R-NAV, LLC shall have executed and delivered to the Lenders a subordination agreement, and Platinum-Montaur Life Sciences LLC and Borrower shall have executed and delivered an amendment to the Platinum Loan Agreement, in each case in form and substance satisfactory to Lenders.
It also does not include any common stock to be issued upon exercise of the conversion rights related to the transfer to Dr. Goldberg of a 15% interest in the Platinum Loan Agreement pursuant to a Separation Agreement dated March 28, 2014, and amended effective June 11, 2015, between Dr. Goldberg and Platinum.
We are currently in compliance with all covenants under the Platinum Loan Agreement.
The breach of any of these covenants would result ina default under the Platinum Loan Agreement, permitting Platinum to terminate our ability to obtain additional draws under the Platinum Loan Agreement and accelerate the maturity of the debt, subject to the limitations of the Subordination Agreement with CRG.
In connection with the closing of the Asset Sale to Cardinal Health 414, the Company repaid to Platinum Partners Capital Opportunity Fund L.P. (“PPCO”) an aggregate of approximately $7.7 million in partial satisfaction of the Company’s liabilities, obligations and indebtedness under the Platinum Loan Agreement between the Company and Platinum-Montaur, which were transferred by Platinum- Montaur to PPCO.
Yichang Meiyan may make early repayment of loan before maturityPurpose of the loan:Yichang Meiyan’s general working capital purposes The principal terms of the Yichang Platinum Loan Agreement are as follows: Date:18 January 2023Parties:(i) The lender: Yichang Biaodian (ii) The borrower: Yichang PlatinumPrincipal amount:RMB10,000,000.00Interest rate:5% per annumTerm:6 months commencing from 18 January 2023 to 17 July 2023Repayment:Interest shall be accrued on a monthly basis.
As an example, we note you have not disclosed Jed Latkin’s role as a Portfolio Manager for Platinum Partners Value Arbitrage Fund L.P. Please further revise your proxy statement to disclose the affiliation of any officer or director with Platinum-Montaur Life Sciences LLC or any of its affiliates, including any of the Platinum entities that are party to the Platinum Loan Agreement.
In addition to payment of the Deposit Amount to CRG described above, the Company repaid to PPCO an aggregate of approximately $7.7 million in partial satisfaction of the Company’s liabilities, obligations and indebtedness under the Platinum Loan Agreement by and between the Company and Platinum-Montaur, which, to the extent of such payment, were transferred by Platinum-Montaur to PPCO.
In addition, the Company believes that the Separation Agreement provides for the transfer to Dr. Goldberg of a 15% interest in the Platinum Loan Agreement, including any common stock issued upon exercise of the conversion rights therein.