Term Loan Cash Interest Rate means, for any day a per annum rate of interest equal to the greater of (i) the “prime rate” as reported in The Wall Street Journal plus 2.55%, and (ii) 8.55%; provided that the Term Loan Cash Interest Rate may be reduced from time to time in accordance with Section 2.2(c)(iii).
Term Loan Cash Interest Rate means, for any day a per annum rate of interest equal to the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 4.75%, and (ii) 10.25%; provided that the Term Loan Cash Interest Rate may be reduced from time to time in accordance with Section 2.2(c)(iii).
Examples of Term Loan Cash Interest Rate in a sentence
The Term Loan Cash Interest Rate will float and change on the day the prime rate changes from time to time.
The Term Loan Cash Interest Rate will float and change on the day the “prime rate” as reported in the Wall Street Journal changes from time to time.
The Term Loan Cash Interest Rate will float and change on the day the Prime Rate changes from time to time.
In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.1(c)(ii)) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.
The Term Loan Cash Interest Rate will float and be determined as of each day in accordance with the definition thereof.
More Definitions of Term Loan Cash Interest Rate
Term Loan Cash Interest Rate means, for any day a per annum rate of interest equal to (a), in case of the Tranche I Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 4.35%, and (ii) 9.35%, (b) in case of the Tranche II Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 3.35%, and (ii) 9.10%, and (c) in case of the Tranche III Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 3.10%, and (ii) 9.10%, provided that if Parent consummates a Qualified IPO, the Term Loan Cash Interest Rate applicable to the Tranche I Advance and Tranche II Advance shall be reduced to a per annum rate of interest equal to (a) in case of the Tranche I Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 3.85%, and (ii) 8.85%, (b) in case of the Tranche II Advance, the greater of either (i) the “prime rate” as reported in The Wall Street Journal plus 2.85%, and (ii) 8.60%, provided further that the interest rate applicable to the Discretionary Advance will be determined prior to the Advance Date thereof. If Parent consummates a Qualified IPO, Parent may elect, by prior written notice to Agent at least five (5) Business Days prior to the first Business Day of a month, to reduce the then effective per annum rates of interest applicable to the Tranche I Advance, Tranche II Advance, and Tranche III Advance, respectively, by up to 1.50% (the amount of such reduction, the “Cash Interest Reduction Amount”) for a period specified in such notice, provided that such period shall begin on the first Business Day of the next month and shall end on the last day of the third month or any subsequent month thereafter (the “PIK Deferral Period”), provided that after the expiration of the PIK Deferral Period, the reduction to the rates of interest applicable to the Tranche I Advance Tranche II Advance and Tranche III Advance shall cease to apply. If during a PIK Deferral Period, Parent desires to terminate the PIK Deferral Period prior to the previously requested end date of the PIK Deferral Period, Parent may by written notice to Agent at least five Business Days prior to the previously scheduled end date of the PIK Deferral Period, elect an earlier end date (which must be the last day of a month that is no earlier than the last day of the third month after the commencement of the PIK Deferral Period). If during a PIK Deferral Period, Parent desires to ...
Term Loan Cash Interest Rate means for any day a per annum rate of interest equal to the greater of (i) 8.25% plus the prime rate as reported in The Wall Street Journal minus 3.25%, and (ii) 8.25%.
Term Loan Cash Interest Rate shall have the meaning given to such term in this Agreement as in effect on such day prior to giving effect to the Third Amendment.
Term Loan Cash Interest Rate means, for any day, a per annum rate of interest equal to (a) prior to the Fourth Amendment Effective Date, the greater of (i) (x) the prime rate as reported in The Wall Street Journal plus (y) 2.25%, and (ii) 5.50%, and (b) on and from the Fourth Amendment Effective Date, (i) prior to the Tranche VI Milestone Date, the Base Rate, and (ii) on and from the Tranche VI Milestone Date, the Modified Rate.
Term Loan Cash Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) the lesser of (x) 8.75% plus the prime rate as reported in The Wall Street Journal minus 6.25% and (y) 10.25%, and (ii) 8.75%. “Term Loan Maturity Date” means November 1, 2025; provided that if Borrower achieves the Approval Milestone on or before November 1, 2025, the “Term Loan Maturity Date” shall mean November 1, 2027; provided further that, if by May 15, 2026, (a) the 2020 Convertible Notes have not converted or (b) the maturity date of the 2020 Convertible is not amended to a date that is at least 180 days after the then-effective Term Loan Maturity Date, then the Term Loan Maturity Date shall automatically become November 15, 2026. “Term Note” means a Promissory Note in substantially the form of Exhibit B. “Trademark License” means any written agreement granting any right to use any Trademark or Trademark registration, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. “Trademarks” means all trademarks (registered, common law or otherwise) and any applications in connection therewith, including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States of America, any State thereof or any other country or any political subdivision thereof. “Tranches” means, collectively, the Tranche 1 Advance, the Tranche 2 Advance, the Tranche 3 Advance and the Tranche 4 Advance. “Tranche 1 Advance” has the meaning set forth in Section 2.2(a)(i). “Tranche 1 Draw Period” means the period beginning on the date of Xxxxxxxx’s achievement of the VALOR-CKD Milestone and continuing through December 31, 2022. “Tranche 1 Facility Charge” means $62,500 which is payable to Lender in accordance with Section 4.2(f), subject to funding of the Tranche 1 Advance.
Term Loan Cash Interest Rate means for any day, the per annum interest rate equal to the greater of (i) ten and one-half percent (10.50%) and (ii) the LIBOR Rate, plus eight and one-half percent (8.50%); provided that if Borrower’s Consolidated Total Leverage Ratio is less than 2.50:1.00 for three consecutive months, Term Loan Cash Interest Rate means for any day, the per annum interest rate equal to the greater of (i) ten and one-quarter percent (10.25%) and (ii) the LIBOR Rate, plus eight and one-quarter percent (8.25%).”