No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s employees are carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity;
Appears in 60 contracts
Samples: Loan and Security Agreement (Disc Medicine, Inc.), Loan and Security Agreement (Sight Sciences, Inc.), Loan and Security Agreement (Gritstone Bio, Inc.)
No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s employees are carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity;.
Appears in 3 contracts
Samples: Loan and Security Agreement (Viewray Inc), Loan and Security Agreement (Viewray Inc), Loan and Security Agreement (Viewray Inc)
No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s employees are carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity;; 4.
Appears in 2 contracts
Samples: Loan and Security Agreement (Tricida, Inc.), Loan and Security Agreement (Concert Pharmaceuticals, Inc.)
No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s employees are carrying on the majority of day to day-to-day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity;
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Bellicum Pharmaceuticals, Inc)
No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s employees are carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan Revolving Loans to another entity;
Appears in 1 contract
Samples: Loan and Security Agreement (BrightSource Energy Inc)
No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s employees are carrying on managing the majority of day to day operations, and Borrower is not an “investment company” under the Investment Company Act of 1940. Borrower will not pass through substantially all of the proceeds of the Loan to another entity;
Appears in 1 contract
Samples: Loan and Security Agreement (Panacos Pharmaceuticals, Inc.)
No Passive Business. Borrower is Borrowers are engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s Borrowers’ employees are carrying on the majority of day to day operations. Borrower Borrowers will not pass through substantially all of the proceeds of the Loan to another entity;
Appears in 1 contract
Samples: Loan and Security Agreement (Proteostasis Therapeutics, Inc.)
No Passive Business. Each Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Each Borrower’s employees are carrying on the majority of day to day operations. No Borrower will not pass through substantially all of the proceeds of the Loan to another entity;
Appears in 1 contract
Samples: Loan and Security Agreement (Anthera Pharmaceuticals Inc)
No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease payments, or royalties). Borrower’s 's employees are carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity;
Appears in 1 contract
