The First Tranche definition

The First Tranche. (the "Initial Tranche") will be payable to the Company or its Creditors on an as needed basis in conjunction with a budget agreed by BiIOACCELERATE INC and will be provided and funded to the Company upon receipt of the following documents from the Company: (i) a grid promissory note (the "Note"), executed by an authorized officer of the Company evidencing the principal amount of funds available under the Credit Facility and the draw down of the Initial Tranche (in the form attached hereto as Exhibit A), (ii) a security agreement (the "Security Agreement") and other collateral documents pursuant to which certain assets and subsequently acquired assets of the Company shall be pledged to secure the repayment of the indebtedness evidenced by the Note (the "Security Documents"), executed by an authorized officer of the Company (in the form attached hereto as Exhibit B), (iii) the warrant (as defined herein), executed by an authorized officer of the Company, (iv) such other documents, each in form and substance satisfactory to BIOACCELERATE INC, as BIOACCELERATE INC shall reasonably request. Subject to the conditions specified herein, additional Tranches shall be made available on as needed basis (each a "Funding Date"). Each Additional Tranche will be funded within two (2) business days following receipt by BIOACCELERATE INC on a Funding Date of a request for the funding of an Additional Tranche (each, a "Request") from the Company. The Company covenants to use the proceeds of each Tranche solely for the purposes as agreed with BIOACCELERATE INC. In connection with the foregoing covenant, BIOACCELERATE INC shall have the right (the "Audit and Demand Right"), subject to customary confidentiality provisions, at any time during the term of the Note and for such extended period of time as indebtedness remains outstanding under any Note to (a) audit and inspect the books and records of the Company for the purpose of determining the use of proceeds from any Tranche at reasonable times and with reasonable prior notice in accordance with the terms and conditions of the Note or (b) demand reasonable evidence from the Company that the Company is in compliance with the foregoing covenant, which evidence the Company shall provide to BIOACCELERATE INC promptly upon written request. Notwithstanding anything to the contrary provided herein or elsewhere, BIOACCELERATE INC shall have no obligation to fund a Tranche if at the time a Request is received by BIOACCELERATE INC and p...
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The First Tranche means the goods required to be delivered under clause 12(1);
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Examples of The First Tranche in a sentence

  • The First Tranche is not intended to qualify as an Incentive Stock Option under U.S. tax laws or as an "approved option" under UK tax laws.

  • The First Tranche Note Purchase Commitments will be automatically and permanently reduced to zero upon the First Tranche Notes Issuance pursuant to Section 2.01(a).

  • The First Tranche Notes Issuance shall consist of First Tranche Notes simultaneously issued by the Issuer to each of the First Tranche Purchasers in accordance with their respective First Tranche Note Purchase Commitments.

  • The First Tranche Options shall not become exercisable if the First Tranche Share Price Component is not satisfied on or before the fifth anniversary of the Date of Grant.

  • The First Tranche Loan was obtained by the Borrower to fulfill the payment of the Final Dividend.

  • The First Tranche Loan was divided into three parts: (a) RMB22,000,000 that would be due on 18 February 2020; (b) RMB34,000,000 that would be due on 2 August 2020; and (c) the remaining RMB174,000,000 that would be due on 3 February 2021 pursuant to the Loan Agreement, all of which were subsequently extended to 31 March 2021 pursuant to the First Extension Agreement and/or the Second Extension Agreement (where applicable).

  • The First Tranche is due within 30 days after the Effective Date; the Second Tranche is due within 30 days after the first anniversary of the Effective Date; and the Third Tranche is due within 30 days after the second anniversary of the Effective Date.

  • The First Tranche Purchase Price shall be paid on or before the First Tranche Closing Date in cash by wire transfer of immediately available funds to an account designated by the Company prior to the First Tranche Closing Date.

  • Such meetings may be in-person, via videoconference or via teleconference.

  • The First Tranche Release Price and Second Tranche Release Price shall be equitably adjusted for any recapitalization, reclassification, consolidation, subdivision, combination, amalgamation, arrangement, exchange of shares or other similar event with respect to the Company Common Shares after the date of this Sponsor Agreement (including, for the avoidance of doubt, the actual Reverse Stock Split).