Investor Abandonment. Any Lender determines in its good faith judgment, that (i) Borrower will not be able to satisfy the Obligations as they become due and payable, and (ii) none of Borrower’s principal investors (defined as each investor that has designated a member of Borrower’s Board of Directors) intends to fund such amounts as may be necessary to enable Borrower to satisfy the Obligations as they become due and payable;
Appears in 2 contracts
Samples: Loan and Security Agreement (Achaogen Inc), Loan and Security Agreement (Baxano Surgical, Inc.)
Investor Abandonment. Any Lender determines in its good faith judgment, that (i) Borrower will not be able to satisfy the Obligations as they become due and payable, and (ii) none it is the clear intention of Borrower’s principal investors (defined as each investor that has designated a member of Borrower’s Board of Directors) intends to not continue to fund such Borrower in the amounts as may be and timeframe to the extent necessary to enable Borrower to satisfy the Obligations as they become due and payable, or (iii) there is a material impairment in the perfection or priority of the Collateral Agent’s security interest in, or the value of, the Collateral;
Appears in 1 contract
Samples: Loan and Security Agreement (Conatus Pharmaceuticals Inc)
Investor Abandonment. Any Lender determines in its good faith judgment, that (i) Borrower will not be able to satisfy the Obligations as they become due and payable, and (ii) none of Borrower’s principal investors (defined as each investor that has designated a member of Borrower’s Board of Directors) intends to fund such amounts as may be necessary to enable Borrower to satisfy the Obligations as they become due and payable;.
Appears in 1 contract
Samples: Loan and Security Agreement (MAP Pharmaceuticals, Inc.)