Term Loan B Availability Start Date definition

Term Loan B Availability Start Date means the achievement by Borrower of positive top-line results from at least one Phase 2 program which shall be satisfactory to Borrower’s board of directors in their sole discretion, and verified by Bank through a written document signed by the Borrower’s board of directors.
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Term Loan B Availability Start Date means the receipt by Agent and the Required Lenders of evidence reasonably acceptable to Agent and the Required Lenders that Borrower has received positive results from its second Phase III clinical trial for Borrower’s KPI-121 product candidate for the treatment of inflammation and pain following cataract surgery. For purposes of clarity, ‘positive’ results shall mean (i) achievement of the primary endpoint of proportion of study eyes with complete resolution of anterior chamber cells at day 8 (maintained through day 15) sufficient to support NDA submission and (ii) no significant treatment-related safety findings observed during the course of the trial that would prevent submission of the NDA. An investor who has appointed a member to Borrower’s Board of Directors, chosen by Agent and the Required Lenders, must confirm to Agent and the Required Lenders that the aforementioned ‘positive’ results are sufficient to support an NDA submission.
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Term Loan B Availability Start Date means the date of receipt by Agent and the Required Lenders of evidence reasonably acceptable to Agent and the Required Lenders that Borrower has achieved the Term Loan B Milestone, provided that receipt by Agent and the Required Lenders of such evidence must occur no later than the date that is twelve (12) months after the Third Amendment Date.
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Examples of Term Loan B Availability Start Date in a sentence

  • Borrower may request Term Loans B at any time from the Term Loan B Availability Start Date through the Term Loan B Availability End Date.

  • Borrower may request the Term Loan B at any time from the Term Loan B Availability Start Date through the Term Loan B Availability End Date.

Related to Term Loan B Availability Start Date

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • Availability Block means $15,000,000.

  • Maximum Availability has the meaning set forth in Section 2.1.1.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Average Availability means, at any Adjustment Date, the average daily Availability for the fiscal quarter immediately preceding such Adjustment Date.

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Availability Date means the day after the end of the fourth fiscal quarter following the fiscal quarter that includes such Effective Time on which the Company is required to file its Form 10-Q for such fiscal quarter except that, if such fourth fiscal quarter is the last quarter of the Company’s fiscal year, “Availability Date” means the day after the end of such fourth fiscal quarter on which the Company is required to file its Form 10-K.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.