Remaining Months Cash. Beginning on the date on which Borrower achieves Equity Milestone I and continuing at all times thereafter. Borrower shall maintain Remaining Months Cash of at least 3.0. For the avoidance of doubt, Remaining Months Cash shall be tested on a daily basis, using the Cash Burn level for the most recent trailing- three-month period for which reporting is available.
Appears in 2 contracts
Samples: Loan and Security Agreement (Enumeral Biomedical Holdings, Inc.), Loan and Security Agreement (Enumeral Biomedical Holdings, Inc.)
Remaining Months Cash. Beginning on the date on which Borrower achieves Equity Milestone I August 1, 2014 and continuing at all times thereafter. , Borrower shall maintain Remaining Months Cash of at least 3.0. For the avoidance of doubt, Remaining Months Cash shall be tested on a daily basis, using the Cash Burn level for the most recent trailing- trailing-three-month period for which reporting is available.
Appears in 2 contracts
Samples: Loan and Security Agreement (Enumeral Biomedical Holdings, Inc.), Loan and Security Agreement (Enumeral Biomedical Holdings, Inc.)
