Term Loan Tranche 2 Activation Date definition

Term Loan Tranche 2 Activation Date means March 31, 2021 unless the Term Loan Tranche 2 Commitment Termination Date occurs prior thereto.

Term Loan Tranche 2 Activation Date means the date, if any, on which the Agent receives a Compliance Certificate delivered in accordance with Section 4.1, and such other documentation and information as Agent may reasonably request, evidencing to Agent’s reasonable satisfaction that Borrower’s Net Product Revenue for the twelve (12) month period immediately preceding such date is greater than or equal to $120,000,000.

Term Loan Tranche 2 Activation Date means the date, if any, on which Agent and Lenders consent to a written request from Borrower to activate the Term Loan Tranche2 Commitment in accordance with the terms of this Agreement; provided, however, Agent and Lenders shall have no obligation whatsoever to consent to any requested activation of the Term Loan Tranche 2 Commitment and the written consent of Agent and all Lenders shall be required in order to activate the Term Loan Tranche 2 Commitment.

Examples of Term Loan Tranche 2 Activation Date in a sentence

• Contemporaneous with the Term Loan Tranche 2 Activation Date, Borrowers shall pay Agent, for its own account and not for the benefit of any other Lenders, a fee in an amount equal to the aggregate amount of the Term Loan Tranche 2 Commitments multiplied by one half of one percent (0.5%).

• On the Closing Date and on each annual anniversary of the Closing Date (it being understood, for the avoidance of doubt, that, unless the Maturity Date is extended, the Agency Fee shall be payable no more than five (5) times during the life of the loan), Borrowers shall pay Agent, for its own account and not for the benefit of any other Lenders, an administrative fee of $75,000; provided that, upon the occurrence of the Term Loan Tranche 2 Activation Date, such administrative fee shall be $100,000.

• On the terms and subject to the conditions set forth herein and in the other Financing Documents, each Lender with a Term Loan Tranche 2 Commitment severally hereby agrees to make to Borrowers a term loan on a Business Day occurring on or after the Term Loan Tranche 2 Activation Date and on or prior to the Term Loan Tranche 2 Commitment Termination Date in an original aggregate principal amount equal to the Term Loan Tranche 2 Commitment (the “ Term Loan Tranche 2 ”).

• On the terms and subject to the conditions set forth herein and in the other Financing Documents, each Lender with a Term Loan Tranche 2 Commitment severally hereby agrees to make to Borrowers a term loan on a Business Day occurring on or after the Term Loan Tranche 2 Activation Date in an original aggregate principal amount equal to the Term Loan Tranche 2 Commitment (the “Term Loan Tranche 2 ”).

More Definitions of Term Loan Tranche 2 Activation Date

Term Loan Tranche 2 Activation Date means the date, if any, prior to Term Loan Tranche 2 Commitment Termination Date, on which the Agent receives a Compliance Certificate delivered in accordance with Section 4.1, and such other documentation and information relating to the following condition as Agent may reasonably request, evidencing to Agent’s reasonable satisfaction that Borrower’s Net Revenue for the twelve (12) month period immediately preceding such date is greater than or equal to $60,000,000.

Term Loan Tranche 2 Activation Date means the date, if any, occurring prior to the Term Loan Tranche 2 Commitment Termination Date on which Agent and each Lender with a Term Loan Tranche 2 Commitment consents in their sole discretion to a written request from Borrowers to activate the Term Loan Tranche 2 Commitment in accordance with the terms of this Agreement; provided, however, Agent and Lenders shall have no obligation whatsoever to consent to any requested activation of the Term Loan Tranche 2 Commitment and the written consent of Agent and all Lenders with a Term Loan Tranche 2 Commitment shall be required in order to activate the Term Loan Tranche 2 Commitment.

Term Loan Tranche 2 Activation Date means the date, if any, prior to Term Loan Tranche 2 Commitment Termination Date, on which the Agent receives (a) such documentation and information evidencing, to Agent’s reasonable satisfaction, the first commercial sale of an FDA approved a PDP Assay (as defined in the Qiagen Master Agreement, as in effect on the Closing Date) by Borrower in accordance with all Regulatory Required Permits and applicable Laws and (b) the Borrower is full compliance with the provisions of Section 7.4.

Term Loan Tranche 2 Activation Date means the date, if any, after the Term Loan Tranche 1 Funding Date and prior to the Term Loan Tranche 2 Commitment Termination Date, on which the Agent receives documentation and information evidencing, to Agent’s reasonable satisfaction, both that (a) the FDA has approved Borrowers’ Drug Application for the testing, manufacturing, marketing and commercial sale in the United States of TX-001HR for the treatment of moderate to severe vasomotor symptoms associated with menopause in women with a uterus, and (b) Borrower has, in the ordinary course of business, consummated its first commercial sale in the United States of TX-001HR for the treatment of moderate to severe vasomotor symptoms associated with menopause in women with a uterus (the “TX-001HR First Commercial Sale”).

Term Loan Tranche 2 Activation Date means June 25, 2020.

Term Loan Tranche 2 Activation Date means the later of (a) the date on which Viewray files its Form 10-K for the fiscal year ending December 31, 2023 with the SEC and (b) February 29, 2024.

Term Loan Tranche 2 Activation Date means the First Amendment Effective Date.