Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension (a “Non-Funding Lender”), Agent shall be entitled to set-off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.
Appears in 15 contracts
Samples: Credit and Security Agreement (Ocular Therapeutix, Inc), Credit and Security Agreement (STRATA Skin Sciences, Inc.), Credit and Security Agreement (Ocular Therapeutix, Inc)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension such payments and Term Loans (a “Non-Funding Lender”), Agent shall be entitled to set-set off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.
Appears in 10 contracts
Samples: Loan and Security Agreement (Syndax Pharmaceuticals Inc), Loan and Security Agreement (Syndax Pharmaceuticals Inc), Loan and Security Agreement (BG Medicine, Inc.)
Advances; Payments. If Agent receives any payment for the account of the Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of the Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension (a “Non-Funding Lender”), Agent shall be entitled to set-off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.
Appears in 9 contracts
Samples: Credit and Security Agreement (Rigel Pharmaceuticals Inc), Credit and Security Agreement (Mannkind Corp), Credit and Security Agreement (Recursion Pharmaceuticals, Inc.)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension such payments and Term Loan (a “Non-Funding Lender”), Agent shall be entitled to set-set off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.
Appears in 3 contracts
Samples: Loan and Security Agreement (Infraredx Inc), Loan and Security Agreement (Synta Pharmaceuticals Corp), Loan and Security Agreement (Cytori Therapeutics, Inc.)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension such payments and Term Loans (a “Non-Funding Lender”” ), Agent shall be entitled to set-set off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Peplin Inc)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. 2:00 p.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. 2:00 p.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension such payments and Term Loans (a “Non-Funding Lender”), Agent shall be entitled to set-set off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from BorrowerBorrowers.
Appears in 2 contracts
Samples: Loan and Security Agreement (MDRNA, Inc.), License Agreement (MDRNA, Inc.)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. 1:00 p.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. 1:00 p.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension such payments and Term Loans (a “Non-Funding Lender”), Agent shall be entitled to set-set off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.
Appears in 2 contracts
Samples: Loan Agreement (XOMA Corp), Loan and Security Agreement (Oncothyreon Inc.)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s 's Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s 's Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension (a “"Non-Funding Lender”"), Agent shall be entitled to set-off the funding short-fall against that Non-Funding Lender’s 's Pro Rata Share of all payments received from Borrower.
Appears in 1 contract
Samples: Credit and Security Agreement (STRATA Skin Sciences, Inc.)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that Midcap / Quotient / Amended and Restated Credit Agreement 34 any Lender has failed to fund any Credit Extension (a “Non-Funding Lender”), Agent shall be entitled to set-off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.
Appears in 1 contract
Samples: Credit, Security and Guaranty Agreement (Quotient LTD)
Advances; Payments. If Agent receives any payment for the account of Lenders on or prior to 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on such Business Day. If Agent receives any payment for the account of Lenders after 11:00 a.m. (New York time) on any Business Day, Agent shall pay to each applicable Lender such Lender’s Pro Rata Share of such payment on the next Business Day. To the extent that any Lender has failed to fund any Credit Extension (a “Non-Funding Lender”), Agent shall be entitled to set-off the funding short-fall against that Non-Funding Lender’s Pro Rata Share of all payments received from Borrower.. MidCap / Ocular / 4th A&R Credit Agreement
Appears in 1 contract
Samples: Credit and Security Agreement (Ocular Therapeutix, Inc)
