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Common use of End of Term Charge Clause in Contracts

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.55% of such Term Loan Advances being repaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay the Lenders a charge of (x) 6.55% of the aggregate amount of all Term Loan Advances funded minus (y) the aggregate amount of payments made pursuant to Section 2.5 (collectively with any charge made pursuant to Section 2.5, the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 3 contracts

Samples: Loan and Security Agreement (Geron Corp), Loan and Security Agreement (Geron Corp), Loan and Security Agreement (Geron Corp)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.52.5(a), Borrower shall pay to the Lenders a charge of 6.556.75% of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) June 1, 2025, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full pursuant to Section 2.5(a), or (iii) the date that the Secured Obligations become due and payable in full, Borrower shall pay the Agent, on behalf of the Lenders, a charge of Two Million Eighty-Five Thousand Dollars ($2,085,000). (c) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in fullfull pursuant to Section 2.5(a), or (iii) the date that the Secured Obligations become due and payablepayable in full, Borrower shall pay the Lenders a charge of (x) 6.556.75% of the aggregate amount of all Term Loan Advances funded minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.6(a) (collectively with any charge charges made pursuant to Section 2.52.6(a) and (b), the “End of Term Charge”). (cd) Notwithstanding the required payment date of any such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 3 contracts

Samples: Loan and Security Agreement (G1 Therapeutics, Inc.), Loan and Security Agreement (G1 Therapeutics, Inc.), Loan and Security Agreement (G1 Therapeutics, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.52.4, Borrower shall pay to the Lenders a charge of 6.555.75% of the aggregate original principal amount of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations, any obligations under Bank Services Agreements that are cash collateralized in accordance with Section 3.3 of this Agreement and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay the Lenders a charge of (x) 6.55of 5.75% of the aggregate original principal amount of all the Term Loan Advances funded made hereunder, minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.5(a) (collectively with any charge made pursuant to Section 2.5, the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge calculated pursuant to Section 2.5 shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 2 contracts

Samples: Loan and Security Agreement (Gritstone Bio, Inc.), Loan and Security Agreement (Gritstone Bio, Inc.)

End of Term Charge. On the earliest to occur of (ai) On any October 1, 2026, (ii) the date that Borrower partially prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payable in full pursuant to Section 2.5the terms of this Agreement, Borrower shall pay to the Lenders a charge of 6.55% Seven Million Five Hundred Thousand Dollars ($7,500,000) (the “Initial End of such Term Loan Advances being repaid. (b) Charge”). On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payablepayable in full pursuant to the terms of this Agreement, Borrower shall pay the Lenders a charge of the sum of (xA) 6.55One Million Dollars ($1,000,000), plus (B) 3.00% of the aggregate original principal amount of all the Term Loan Advances funded minus made hereunder (y) but excluding the aggregate original principal amount of payments the Term Loan Advances made pursuant to Section 2.5 under Tranche I) (collectively the “Subsequent End of Term Charge”; together with any charge made pursuant to Section 2.5the Initial End of Term Charge, collectively, the “End of Term Charge”). (c) . Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by Lenders on the Lenders as of each date a the applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 2 contracts

Samples: Loan and Security Agreement (Phathom Pharmaceuticals, Inc.), Loan and Security Agreement (Phathom Pharmaceuticals, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge equal to 6.95% of 6.55% the original principal amount of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payablepayable (including by acceleration of the Secured Obligations during an Event of Default pursuant to Section 10), Borrower shall pay the Lenders a charge of (x) 6.55equal to 6.95% of the aggregate original principal amount of all Term Loan Advances funded made hereunder minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.6(a) (collectively with any charge made pursuant to Section 2.52.6(a), the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each such date a an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 2 contracts

Samples: Loan and Security Agreement (ATAI Life Sciences N.V.), Loan and Security Agreement (ATAI Life Sciences N.V.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.55% of such Term Loan Advances being repaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations, any obligations under Bank Services Agreements constituting Secured Obligations that are cash collateralized in accordance with Section 3.4 of this Agreement or for which other satisfactory arrangements with the provider of such Bank Services have been made and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payablepayable or (iv) as required pursuant to Section 2.4, solely with respect to the aggregate principal amount of the Advances being prepaid, Borrower shall pay the Lenders a charge of (x) 6.55% of equal to the aggregate amount of all Term Loan Advances funded minus (y) the aggregate amount of payments made pursuant to Section 2.5 (collectively with any charge made pursuant to Section 2.5, the “End of Term Charge”). (c) . Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge calculated pursuant to Section 2.5 shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, other than as described in the definition of “Term Loan Maturity Date”, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding succeeding Business Day.

Appears in 2 contracts

Samples: Loan and Security Agreement (Oak Street Health, Inc.), Loan and Security Agreement (Oak Street Health, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.52.4, Borrower shall pay to the Lenders a charge of 6.55% five and seventeen-twentieths of one percent (5.85%) multiplied by the principal amount of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity or reimbursement obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the outstanding Secured Obligations become due and payable, Borrower shall pay the Lenders a charge of equal to (x) 6.55% the greater of (I) One Million One Hundred Seventy Thousand Dollars ($1,170,000) and (II) five and seventeen-twentieths of one percent (5.85%) multiplied by the aggregate original principal amount of the aggregate amount of all Term Loan Advances funded made hereunder, whichever is higher, minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.5(a) (collectively with any charge made pursuant to Section 2.5, the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge calculated pursuant to the preceding sentence shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (Akero Therapeutics, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.52.4 (and without duplication), Borrower shall pay to the Lenders a charge of 6.55% four and ninety-five hundredths percent (4.95%) multiplied by the principal amount of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the entire outstanding Secured Obligations become due and payable, Borrower shall pay the Lenders a charge of equal to (x) 6.55% of four and ninety-five hundredths percent (4.95%) multiplied by the aggregate original principal amount of all such Term Loan Advances funded made hereunder minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.5(a) (collectively with any charge made pursuant to Section 2.5, the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding subsequent Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (Bluebird Bio, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.55% of such Term Loan Advances being repaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays in full the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full), or (iii) the date that the Secured Obligations become due and payablepayable (including by acceleration of the Secured Obligations during an Event of Default) pursuant to the terms of this Agreement, Borrower shall pay the Lenders a charge of five point three five percent (x5.35%) 6.55% of the aggregate original principal amount of all the Term Loan Advances funded minus made hereunder (y) including, for the aggregate avoidance of doubt, the principal amount of payments made pursuant to Section 2.5 (collectively with any charge partial prepayments of Term Loan Advances made pursuant to Section 2.5, ) (the “End of Term Charge”). (cb) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (Madrigal Pharmaceuticals, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.55% equal to four and three quarters percent (4.75%) multiplied by the aggregate principal amount of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity or reimbursement obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the outstanding Secured Obligations become due and payable, or (iv) as required pursuant to Section 2.5, Borrower shall pay the Lenders a charge of equal to (x) 6.55% of four and three quarters percent (4.75%) multiplied by the aggregate original principal amount of all such Term Loan Advances funded made hereunder minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.6(a) (collectively collectively, with any charge made required to be paid pursuant to Section 2.52.6(a), the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding next Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (COMPASS Pathways PLC)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.554.85% of the principal amount of such Term Loan Advances being repaidprepaid (without giving effect to any capitalization of paid-in-kind interest for purposes of this calculation). (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payablepayable in full (other than regularly scheduled interest and amortization payments), Borrower shall pay the Lenders a charge of equal to (x) 6.55the greater of (A) Two Million Nine Hundred and Ten Thousand Dollars ($2,910,000) and (B) 4.85% of the aggregate amount of all Term Loan Advances funded minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.6(a) (collectively with any charge made pursuant to Section 2.52.6(a), the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (Axsome Therapeutics, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations Term Loan Advances pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.55% equal to two and one-half of one percent (2.50%) multiplied by the principal amount of such Term Loan Advances being repaidprepaid. (ba) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the entirety of the outstanding Secured Obligations (other than any inchoate indemnity obligations Surviving Obligations), and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the outstanding Secured Obligations become due and payable, Borrower shall pay the Lenders a charge of equal to (x) 6.55% two and one-half of one percent (2.50%) multiplied by the aggregate original principal amount of all such Term Loan Advances funded made hereunder minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.6(a) (collectively with any charge made pursuant to each payment under Section 2.52.6(a) and Section 2.6(b), individually and collectively, the “End of Term Charge”). (cb) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding succeeding Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (NeueHealth, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.52.4 (and without duplication), Borrower shall pay to the Lenders a charge of 6.55% six and forty-five hundredths percent (6.45%) multiplied by the principal amount of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full, or (iii) the date that the entire outstanding Secured Obligations become due and payable, Borrower shall pay the Lenders a charge of equal to (x) 6.55% of four and six and forty-five hundredths percent (6.45%) multiplied by the aggregate original principal amount of all such Term Loan Advances funded made hereunder minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.5(a) (collectively with any charge made pursuant to Section 2.5, the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding subsequent Business Day.” (iii) Section 7.21 of the Existing Loan Agreement is hereby amended and restated to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Bluebird Bio, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.55% of such Term Loan Advances being repaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity indemnification or reimbursement obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in fullfull (or in part, as provided in this Agreement), or (iii) the date that the Secured Obligations otherwise become due and payablepayable pursuant to the terms of this Agreement, Borrower shall pay the Lenders a charge of Agent (x) 6.55% on behalf of the aggregate amount Lenders) the pro rata portion of all the End of Term Charge with respect to the Term Loan Advances funded being prepaid at such time minus (y) any portion of the aggregate amount End of payments made Term Charge that has already been paid by Borrower pursuant to Section 2.5 (collectively with 2.3(c)(ii)(C). Notwithstanding anything to the contrary in this Agreement or any charge made pursuant to Section 2.5other Loan Document and for the avoidance of doubt, only the pro rata portion of the End of Term Charge”). (c) Charge with respect to the Term Loan Advances being prepaid at any time shall be due or payable. Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge it shall be deemed earned by the Lenders as of each date a Term Loan Advance is madethe Effective Date. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (Rocket Lab USA, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.5, Borrower shall pay to the Lenders a charge of 6.55% of such Term Loan Advances being repaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays in full the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full), or (iii) the date that the Secured Obligations become due and payablepayable (including by acceleration of the Secured Obligations during an Event of Default) pursuant to the terms of this Agreement, Borrower shall pay the Lenders a charge of five point three five percent (x5.35%) 6.55% of the aggregate original principal amount of all the Term Loan Advances funded minus made hereunder (y) including, for the aggregate avoidance of doubt, the principal amount of payments made pursuant to Section 2.5 (collectively with any charge partial prepayments of Term Loan Advances made pursuant to Section 2.5, ) (the “End of Term Charge”). (cb) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.. 24 sf-5987948

Appears in 1 contract

Samples: Loan and Security Agreement (Madrigal Pharmaceuticals, Inc.)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.52.5 (other than, for the avoidance of doubt, any partial prepayment that would result in all remaining outstanding Secured Obligations being prepaid in full), Borrower shall pay to the Lenders a charge of 6.55% equal to (***) multiplied by the aggregate principal amount of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays in full the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in full), or (iii) the date that the outstanding Secured Obligations become due and payablepayable in full, Borrower shall pay the Lenders (i) a charge of equal to (x***) 6.55% of multiplied by the aggregate original principal amount of all such Term Loan Advances funded funded, minus (yii) the aggregate amount of payments made pursuant to Section 2.5 2.6(a) (collectively with any charge made pursuant to Section 2.5together, the “End of Term Charge”). (c) Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a that an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (Adaptimmune Therapeutics PLC)

End of Term Charge. (a) On any date that Borrower partially prepays the outstanding Secured Obligations pursuant to Section 2.52.5(a), Borrower shall pay to the Lenders a charge of 6.556.75% of such Term Loan Advances being repaidprepaid. (b) On the earliest to occur of (i) June 1, 2025, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other (c) On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) in fullfull pursuant to Section 2.5(a), or (iii) the date that the Secured Obligations become due and payablepayable in full, Borrower shall pay the Lenders a charge of (x) 6.556.75% of the aggregate amount of all Term Loan Advances funded minus (y) the aggregate amount of payments made pursuant to Section 2.5 2.6(a) (collectively with any charge charges made pursuant to Section 2.52.6(a) and (b), the “End of Term Charge”). (cd) Notwithstanding the required payment date of any such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall be deemed earned by the Lenders as of each date a Term Loan Advance is made. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business Day.

Appears in 1 contract

Samples: Loan and Security Agreement (G1 Therapeutics, Inc.)