Tranche 3 Advance definition

Tranche 3 Advance means the aggregate amount funded by the Purchasers to the Borrowers on the Tranche 3 Funding Date, which shall equal $10,000,000.
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Tranche 3 Advance shall have the meaning assigned to such term in Section 2.2(a).
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Tranche 3 Advance means an advance by a Lender pursuant to its Tranche 3 Commitment to the Borrower as part of a Borrowing.
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Examples of Tranche 3 Advance in a sentence

  • On the Tranche 3 Funding Date, subject to the terms and conditions herein, (I) the Borrowers and the Company delivered the Tranche 3 Notes with an aggregate principal amount equal to the Tranche 3 Advance, and Tranche 3 Warrants with respect to the Tranche 3 Advance, respectively, and (II) the Purchasers paid the Tranche 3 Advance to the Borrowers and the Company by wire transfer to accounts designated by the Borrowers and Company prior to the Tranche 3 Funding Date.

  • On the Tranche 3 Funding Date, subject to the terms and conditions herein, (A) the Borrowers and the Company will deliver the Tranche 3 Notes and Tranche 3 Warrants, respectively, and (B) the Purchasers will pay the Tranche 3 Advance to the Borrowers and the Company by wire transfer to accounts designated by the Borrowers and the Company prior to the Tranche 3 Funding Date.

  • If Bank advances the Tranche 3 Advance, the Tranche 3 Advance shall be “interest only” until September 30, 2019 (the “Tranche 3 Amortization Date”).

  • For the avoidance of doubt, each Advance will be available on the terms stated herein, without regard to the drawdown of any of the Tranche 2 Advance, Tranche 3 Advance, Tranche 4 Advance, Tranche 5 Advance and Tranche 6 Advance.

  • It corresponds with minimizing operational cost, and involves a trade-off of functional requirements, time-to-market and development cost.

  • As at December 31, 2010, the amounts of the facilities utilized were $323,411 for Tranche 1 Advance (2009 -$64,682), $715,776 (2009 - $423,951) for Tranche 2 Advance and $291.336 (2009 - 170,848) for Tranche 3 Advance; of this $393,744 (2009 - $282,775) is payable within 12 months.

  • The available credit facility for Tranche 1 Advance is $nil (2009 - $nil), Tranche 2 Advance is $nil (2009 - $627,048) and Tranche 3 Advance is $nil (2009 - $129,152).

  • For each fiscal quarter beginning after the date that is six (6) months after the first date on which any Tranche 3 Advance is made, Borrower shall achieve trailing six-month revenue (determined in accordance with GAAP) in an amount equal to or greater than 60% of trailing-six-month revenue (determined in accordance with GAAP) for such period forecasted in Borrower’s board approved annual operating plan that is deemed reasonably acceptable to the Agent.

  • Beginning on the earliest of (i) the initial Tranche 2 Advance, (ii) the initial Tranche 3 Advance, and (iii) January 1, 2023, maintain Net Product Revenue, measured on a trailing three (3) month basis as of the date of the most recently delivered monthly financial statement in accordance with Section 7.1(a), in an amount not less than seventy percent (70%) of the projected Net Product Revenue for such three (3) month period, as set forth in Schedule 7.20(a).

  • The Tranche 1 Advance, Tranche 2 Advance, and Tranche 3 Advance are each hereinafter referred to singly as a “ Term Loan Advance ” and collectively as the “Term Loan Advances ”.


More Definitions of Tranche 3 Advance

Tranche 3 Advance means the $10,000,000 funded by the Purchasers to the Borrowers on the Tranche 3 Funding Date. “Tranche 3 Funding Date” means November 27, 2019.
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Tranche 3 Advance has the meaning given to it in Section 2.2(a)(iii).
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Tranche 3 Advance is defined in Section 2.1.1(a)(ii).
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Tranche 3 Advance has the meaning set forth in Section 2.2(a)(iii). “Tranche 3 Draw Period” means the period beginning on the date of Xxxxxxxx’s achievement of the Approval Milestone and continuing through the earlier of (a) ten (10) Business Days following Xxxxxxxx’s achievement of the Approval Milestone and (b) February 15, 2024. “Tranche 3 Facility Charge” means $250,000 which is payable to Lender in accordance with Section 4.2(h), subject to funding of the Tranche 3 Advance. “Tranche 4 Advance” has the meaning set forth in Section 2.2(a)(iv). “Tranche 4 Facility Charge” means $125,000 which is payable to Lender in accordance with Section 4.2(i), subject to funding of the Tranche 4 Advance. “UCC” means the Uniform Commercial Code as the same is, from time to time, in effect in the State of California; provided, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Agent’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time to time, in effect in a jurisdiction other than the State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to time, in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. “Unrestricted Cash” means Cash held by Borrower subject to an Account Control Agreement. “VALOR-CKD Milestone” means Borrower’s VALOR-CKD trial, xxxxxxxxxxxxxx.xxx identifier #NCT03710291, has demonstrated Positive Data where such Positive Data would be expected to support Borrower’s resubmission and subsequent FDA filing of the NDA for TRC101 (a/k/a veverimer) as the next immediate step in clinical development, subject to verification by Agent (including supporting documentation requested by Agent, to the extent such documentation is available to Borrower). 1.2 Unless otherwise specified, all references in this Agreement or any Annex or Schedule hereto to a “Section,” “subsection,” “Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in or to this Agreement. Unless otherwise specifically provided herein, any accounting term used in this Agreement or the other Loan Documents shall have the meaning customarily given
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Related to Tranche 3 Advance

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Tranche C Loan has the meaning specified in Section 2.01(c).

  • Term Advance has the meaning specified in Section 2.01(a).

  • Tranche A Loan shall have the meaning set forth in Section 2.01(a).

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Tranche B Loans means loans made pursuant to Section 2.1(a)(ii).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Tranche C Term Loan as defined in Section 2.1.

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Equipment Advance is defined in Section 2.1.1.

  • Tranche A Term Loan as defined in Section 2.1.

  • Term A-2 Loan means an advance made by any Term A-2 Lender under the Term A-2 Facility.

  • Tranche B Term Loan as defined in Section 2.1.

  • Tranche A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).

  • Class B-2 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Prepayment Percentage for such Distribution Date will be zero.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Tranche A Term Loan Maturity Date means October 20, 2015.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Tranche B has the meaning assigned in Section 2.1(c)(i).

  • Term Loan as defined in Section 2.1.

  • Class B-5 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-5 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-5 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-5 Prepayment Percentage for such Distribution Date will be zero.