Common use of Non-Funding Lenders Clause in Contracts

Non-Funding Lenders. (i) Unless Collateral Agent shall have received notice from a Lender prior to the date of any Term Loan that such Lender will not make available to Collateral Agent such Lender’s Pro Rata Share of such Term Loan, Collateral Agent may assume that such Lender will make such amount available to it on the date of such Term Loan in accordance with Section 2(b) of this Exhibit B, and Collateral Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such amount available to Collateral Agent, such Lender and Borrower severally agree to repay to Collateral Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to Borrower until the day such amount is repaid to Collateral Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Agent made available such amount to Borrower had such Lender made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan for purposes of this Agreement.

Appears in 25 contracts

Samples: Loan and Security Agreement (Alimera Sciences Inc), Loan and Security Agreement (Alimera Sciences Inc), Loan and Security Agreement (Spectrum Pharmaceuticals Inc)

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Non-Funding Lenders. (i) Unless Collateral Agent shall have received notice from a Lender prior to the date of any Term Loan that such Lender will not make available to Collateral Agent such Lender’s Pro Rata Share of such Term Loan, Collateral Agent may assume that such Lender will make such amount available to it on the date of such Term Loan in accordance with Section 2(b) of this Exhibit BAnnex I, and Collateral Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such amount available to Collateral Agent, such Lender and Borrower severally agree to repay to Collateral Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to Borrower until the day such amount is repaid to Collateral Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Agent made available such amount to Borrower had such Lender made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan for purposes of this Agreement.

Appears in 8 contracts

Samples: Loan and Security Agreement (MDxHealth SA), Loan and Security Agreement (CVRx, Inc.), Loan and Security Agreement (Eiger BioPharmaceuticals, Inc.)

Non-Funding Lenders. (i) Unless Collateral Agent shall have received notice from a Lender prior to the date of any Term Loan that such Lender will not make available to Collateral Agent such Lender’s Pro Rata Share of such Term Loan, Collateral Agent may assume that such Lender will make such amount available to it on the date of such Term Loan in accordance with Section 2(b) of this Exhibit BLoan, and Collateral Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such amount available to Collateral Agent, such Lender and Borrower severally agree to repay to Collateral Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to Borrower until the day such amount is repaid to Collateral Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Agent made available such amount to Borrower had such Lender made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan for purposes of this Agreement.

Appears in 4 contracts

Samples: Loan and Security Agreement (Vapotherm Inc), Loan and Security Agreement (Vapotherm Inc), Loan and Security Agreement (Vapotherm Inc)

Non-Funding Lenders. (i) Unless Collateral Agent shall have received notice from a Lender prior to the date of any Term Loan that such Lender will not make available to Collateral Agent such Lender’s Pro Rata Share of such Term Loan, Collateral Agent may assume that such Lender will make such amount available to it on the date of such Term Loan in accordance with Section 2(b) of this Exhibit B2.2(b), and Collateral Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such amount available to Collateral Agent, such Lender and Borrower severally agree to repay to Collateral Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to Borrower until the day such amount is repaid to Collateral Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Agent made available such amount to Borrower had such Lender made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan for purposes of this Agreement.

Appears in 4 contracts

Samples: Loan and Security Agreement (GenMark Diagnostics, Inc.), Loan and Security Agreement (Cas Medical Systems Inc), Loan and Security Agreement (AMEDICA Corp)

Non-Funding Lenders. (i) Unless Collateral Agent shall have received notice from a Lender prior to the date of any Term Loan particular Credit Extension that such Lender will not make available to Collateral Agent such Lender’s Pro Rata Share of such Term LoanCredit Extension, Collateral Agent may assume that such Lender will make such amount available to it on the date of such Term Loan Credit Extension in accordance with Section 2(b) of this Exhibit B2.1(b)(i), and Collateral Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such amount available to Collateral Agent, such Lender and Borrower severally agree to repay to Collateral Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to Borrower until the day such amount is repaid to Collateral Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Agent made available such amount to Borrower had such Lender made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan the applicable Credit Extension for purposes of this Agreement.

Appears in 4 contracts

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

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Non-Funding Lenders. (ia) Unless Collateral the Administrative Agent shall have received receives notice from a Lender prior to the date of any Term Loan particular Advance that such Lender will not make available to Collateral the Administrative Agent such LenderXxxxxx’s Pro Rata Share pro rata share of such Term LoanAdvance, Collateral the Administrative Agent may assume that such Lender will make such amount available to it on the date of such Term Loan Advance in accordance with Section 2(b) of this Exhibit B2.1(d), and Collateral the Administrative Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of the Borrower on such date. If and to the extent that such Lender shall does not have made make such amount available to Collateral the Administrative Agent, such Lender and the Borrower severally agree to repay to Collateral the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to the Borrower until the day such amount is repaid to Collateral the Administrative Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral the Administrative Agent made available such amount to the Borrower had such Lender made a corresponding payment available. If such Lender shall repay repays such corresponding amount to Collateral the Administrative Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan the applicable Advance for purposes of this Agreement.

Appears in 2 contracts

Samples: Credit and Security Agreement (Saratoga Investment Corp.), Credit and Security Agreement (Saratoga Investment Corp.)

Non-Funding Lenders. (i) Unless Collateral Agent shall have received notice from a Lender prior to the date of any Term Loan that such Lender will not make available to Collateral Agent such Lender’s Pro Rata Share of such Term Loan, Collateral Agent may assume that such Lender will make such amount available to it on the date of such Term Loan in accordance with Section 2(b) of this Exhibit B, and Collateral Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such amount available to Collateral Agent, such Lender and Borrower each Loan Party severally agree to repay to Collateral Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to Borrower any Loan Party until the day such amount is repaid to Collateral Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Agent made available such amount to Borrower any Loan Party had such Lender made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan for purposes of this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Rapid Micro Biosystems, Inc.), Loan and Security Agreement (Rapid Micro Biosystems, Inc.)

Non-Funding Lenders. (i) Unless Collateral Administrative Agent shall have received notice from a Lender prior to the date of any Term Loan that such Lender will not make available to Collateral Administrative Agent such LenderLxxxxx’s Pro Rata Share of such Term Loan, Collateral Administrative Agent may assume that such Lender will make such amount available to it on the date of such Term Loan in accordance with Section 2(b) of this Exhibit B, and Collateral Administrative Agent may (but shall not be obligated to), in reliance upon such assumption, make available a corresponding amount for the account of Borrower on such date. If and to the extent that such Lender shall not have made such amount available to Collateral Administrative Agent, such Lender and Borrower severally agree to repay to Collateral Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the day such amount is made available to Borrower until the day such amount is repaid to Collateral Administrative Agent, at a rate per annum equal to the interest rate applicable to the Obligation that would have been created when Collateral Administrative Agent made available such amount to Borrower had such Lender made a corresponding payment available. If such Lender shall repay such corresponding amount to Collateral Administrative Agent, the amount so repaid shall constitute such Lender’s portion of such Term Loan for purposes of this Agreement.

Appears in 1 contract

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

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