Definition of Term C Draw Period


Term C Draw Period means the period of time commencing upon the occurrence of each of (a) the Milestone Event and (b) Lender making both the Term A Loan Advance and the Term B Loan Advance, and continuing through the earliest to occur of (a) December 20, 2017, (b) the date that is ninety (90) days after the occurrence of the Milestone Event, or (c) an Event of Default.

Examples of Term C Draw Period in a sentence

Term C Draw Period means the period from the Fourth Amendment Effective Date through the earlier of an Event of Default and April 30, 2012.
Subject to the terms and conditions of this Agreement, Lenders agree, severally and not jointly, to (if and when so requested by Borrowers during the Term C Draw Period) make another term loan to Borrowers, during the Term C Draw Period, in an aggregate amount up to Two Million Five Hundred Thousand Dollars ($2,500,000) (the Term C Loan and, collectively with the Term A Loan and the Term B Loan, the Term Loan) according to each Lenders Term Loan Commitment as set forth on Schedule 1.1 hereto.
Subject to the terms and conditions of this Agreement, during the Term C Draw Period, Bank shall make one (1) advance (the Term C Loan Advance) available to Borrower in an amount of up to Two Million Dollars ($2,000,000.00).