Common use of Repayment Clause in Contracts

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 5 contracts

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

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Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six five months (3635) months, if the Term B Loans are not made hereunder and Amortization Date is May 1, 2019, or twenty-three (ii23) thirty (30) months, months if the Term B Loans are made hereunderAmortization Date is May 1, 2020. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 3 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of equal amounts of principal, together with and the applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, months if the Term B Loans are Equity Event does not made hereunder and occur, or (ii) thirty (30) months, months if the Term B Loans are made hereunderEquity Event does occur. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 3 contracts

Samples: Loan and Security Agreement (Adynxx, Inc.), Loan and Security Agreement (Adynxx, Inc.), Loan and Security Agreement (Alliqua BioMedical, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower Xxxxxxxx agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall (i) make monthly payments of interest, to each Lender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon the effective rate of interest applicable to the Term Loan, as determined in Section 2.3(a) plus (ii) make consecutive equal monthly payments of principal, together with applicable interest, in arrears, principal to each LenderLender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1A) the amount respective principal amounts of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a)Loans outstanding, and (3B) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if number of months remaining from the Term B Loans are made hereunderAmortization Date until the Maturity Date. All unpaid principal and accrued and unpaid interest with respect to each such Term Loan is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 3 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (iX) thirty-if the Amortization Date is February 1, 2016, thirty six (36) months, (Y) if the Term B Loans are not made hereunder and (ii) Amortization Date is August 1, 2016, thirty (30) months, and (Z) if the Term B Loans are made hereunderAmortization Date is February 1, 2017, twenty four (24) months. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 3 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-six three (3633) months, if the Term B Loans are not made hereunder and Amortization Date is January 1, 2017; or (iiy) thirty twenty-seven (3027) months, if the Term B Loans are made hereunderAmortization Date is July 1, 2017. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement (Miramar Labs, Inc.), Loan and Security Agreement (Miramar Labs, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirtyforty-six eight (3648) months, if the Term B Loans are not made hereunder Amortization Date is January 1, 2026 and (iiy) thirty sixty (3060) months, if the Term B Loans are made hereunderAmortization Date is January 1, 2027. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

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

Repayment. Borrower shall make monthly payments of interest only only, in arrears, commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each LenderBank, as calculated by Collateral Agent Bank (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s the Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to (i) if the Amortization Date is April 8, 2017, thirty-six (36) months, if the Term B Loans are not made hereunder months and (ii) if the Amortization Date is October 8, 2017, thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Term Loan Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (BioNano Genomics, Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and Amortization Date is February 1, 2015 (ii) or, thirty (30) months, if the Term B Loans are made hereunderAmortization Date is August 1, 2015). All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each the Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (iix) thirty (30) months, if the Term B Loans are made hereunderAmortization Date is May 1, 2015; and (y) twenty-four (24) months, if the Amortization Date is November 1, 2015. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-if the Amortization Date is March 1, 2017, forty two (42) months, (ii) if the Amortization Date is September 1, 2017, thirty six (36) months, (iii) if the Term B Loans are not made hereunder and (ii) Amortization Date is March 1, 2018, thirty (30) months, and (iv) if the Term B Loans are made hereunderAmortization Date is September 1, 2018, twenty four (24) months. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement (Inspire Medical Systems, Inc.), Loan and Security Agreement (Inspire Medical Systems, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to (ix) thirty-six three (3633) months, if the Term B Loans are not made hereunder and Amortization Date is April 1, 2017, or (iiy) thirty twenty-seven (3027) months, months if the Term B Loans are made hereunderAmortization Date is October 1, 2017. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement (SI-BONE, Inc.), Loan and Security Agreement (SI-BONE, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-if the Amortization Date is March 1, 2019, thirty six (36) months, if the Term B Loans are not made hereunder and (ii) thirty if the Amortization Date is March 1, 2020, twenty four (3024) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d). The Funding Date of each Term A Loan shall be the First Amendment Effective Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Inspire Medical Systems, Inc.), Loan and Security Agreement (Inspire Medical Systems, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six thirty (3630) months, months if the Term B Loans are not made hereunder Amortization Date is August 1, 2021 and (ii) thirty twenty-four (3024) months, months if the Term B Loans are made hereunderAmortization Date is February 1, 2022. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement (Centrexion Therapeutics Corp), Loan and Security Agreement (Centrexion Therapeutics Corp)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. On each of December 1, 2016 and January 1, 2017, in addition to making the aforementioned interest payments, Borrower shall also make (i) a payment of $83,333.33 with respect to the Term A Loan, which shall be deemed to be a partial payment of the principal amount of the Term A Loan, and (ii) a payment of $55,555.56 with respect to the Term B Loan, which shall be deemed to be a partial payment of the principal amount of the Term B Loan. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of equal amounts of principal, together with and the applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to twenty-three (i) thirty-six (3623) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoans, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule (i) with respect to the Term A Loans, equal to (iA) thirtythirty (30) months if the Term B Loans are not funded prior to the end of the Second Draw Period, or (B) twenty-six four (3624) months, if the Term B Loans are not made hereunder funded prior to the end of the Second Draw Period, and (ii) thirty (30) months, if with respect to the Term B Loans are made hereunderLoans, equal to twenty-four (24) months. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall (i) make monthly payments of interest, directly to each Lender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon the effective rate of interest applicable to the Term Loan, as determined in Section 2.3(a) plus (ii) make consecutive equal monthly payments of principal, together with applicable interest, in arrears, principal directly to each LenderLender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1A) the amount respective principal amounts of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a)Loans outstanding, and (3B) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each such Term Loan is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term LoanLoans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term LoanLoans, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan Loans and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (iix) thirty (30) months, if the Term B Loans are made hereunderAmortization Date is January 1, 2017, or (y) twenty-four (24) months, if the Amortization Date is July 1, 2017. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is Loans are due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Restoration Robotics Inc)

Repayment. Borrower shall make monthly payments of interest only in arrears commencing on the first second (1st2nd) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principalprincipal of each Term Loan, together with applicable accrued interest, in arrears, to each applicable Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.2(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, months if the Term B Loans are not made hereunder and Amortization Date is February 1, 2019, or (ii) thirty twenty-four (3024) months, months if the Term B Loans are made hereunderAmortization Date is February 1, 2020. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Term Loan Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c2.1.2(c) and 2.2(d2.1.2(d).

Appears in 2 contracts

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall (i) make monthly payments of interest, to each Lender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon the effective rate of interest applicable to the Term Loan, as determined in Section 2.3(a) plus (ii) make consecutive equal monthly payments of principal, together with applicable interest, in arrears, principal to each LenderLender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1A) the amount respective principal amounts of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a)Loans outstanding, and (3B) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if number of months remaining from the Term B Loans are made hereunderAmortization Date until the Maturity Date. All unpaid principal and accrued and unpaid interest with respect to each such Term Loan is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement (SI-BONE, Inc.), Loan and Security Agreement (Neuronetics, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six five (3635) months; provided, that if the Borrower draws a Term B Loans are not made hereunder and C Loan, then the foregoing clause (ii3) thirty shall be based upon a repayment schedule equal to twenty-three (3023) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement (Xeris Pharmaceuticals Inc), Loan and Security Agreement (Xeris Pharmaceuticals Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each LenderCollateral Agent (for the benefit of the Lenders), as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months; provided, however, if the Term B Loans are made hereunderAmortization Date is extended upon completion of the Additional Capital Event, then such thirty (30) month period shall be reduced to twenty-four (24) months. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 2 contracts

Samples: Loan and Security Agreement (Sutro Biopharma Inc), Loan and Security Agreement (Sutro Biopharma Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirtytwenty-six three (3623) months, if the Term B Loans are not made hereunder and Amortization Date is May 1, 2022, or (iiy) thirty eleven (3011) months, if the Term B Loans are made hereunderAmortization Date is May 1, 2023. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term LoanLoans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term LoanLoans, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan Loans and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.2 Section 2.5 (Fees). New Section 2.5(f) is hereby added to the Loan Agreement to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Durect Corp)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoan then outstanding, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) Amortization Date is August 1, 2018, or thirty (30) months, months if the Term B Loans are made hereunderAmortization Date is February 1, 2019. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).. WEST\274507290.5 368986-000135 1

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six eighteen (3618) months, if the Term B Loans are I/O Extension Event does not made hereunder occur and (ii) thirty five (305) months, if the Term B Loans are made hereunderI/O Extension Event occurs. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).. ​

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule with respect to the Term Loans equal to (i) thirty (30) months, if the BLA Approval Event occurs and (ii) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunderotherwise. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Adma Biologics, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term LoanLoans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term LoanLoans, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan Loans and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to twenty-eight (i) thirty-six (3628) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.2 Section 2.5 (Fees). New Section 2.5(h) is hereby added to the Loan Agreement to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Durect Corp)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (iA) if Borrower does not draw any Term B Loan, thirty-six (36) months, or (B) if the Borrower draws any Term B Loans are not made hereunder and (ii) Loan, thirty (30) months, if the Term B Loans are made hereunder. All The Final Payment and all unpaid principal and accrued and unpaid interest with respect to each Term Loan is are due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if months with respect to the Term A Loans and the Term B Loans are made hereunderLoans. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Celsion CORP)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (iA) thirty-six (36) months, if the Term B Loans are Revenue Event does not made hereunder occur, and (iiB) thirty twenty-four (3024) months, if the Term B Loans are made hereunderRevenue Event does occur. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-six five (3635) months, if the Term B Loans are not made hereunder Amortization Date is February 1, 2021 and (iiy) thirty twenty-three (3023) months, if the Term B Loans are made hereunderAmortization Date is February 1, 2022. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall (i) make monthly payments of interest, directly to each Lender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon the effective rate of interest applicable to the Term Loan, as determined in Section 2.3(a) plus (ii) make consecutive equal monthly payments of principal, together with applicable interest, in arrears, principal directly to each LenderLender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1A) the amount respective principal amounts of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a)Loans outstanding, and (3B) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if number of months from the Term B Loans are made hereunderAmortization Date through the Maturity Date. All unpaid principal and accrued and unpaid interest with respect to each such Term Loan is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirtytwenty-six three (3623) months, months if the Term B Loans are not made hereunder Amortization Date is January 1, 2025 and (ii) thirty eleven (3011) months, months if the Term B Loans are made hereunderAmortization Date is January 1, 2026. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Kezar Life Sciences, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower Xxxxxxxx agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (iA) thirtytwenty-six eight (3628) months, months if the Term B Loans are not made hereunder Amortization Date is November 1, 2025, (B) twenty-two (22) months if the Amortization Date is May 1, 2026, and (iiC) thirty sixteen (3016) months, months if the Term B Loans are made hereunderAmortization Date is November 1, 2026. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest interest, in arrears, only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization DateDate of each Term Loan. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization DateDate for each Term Loan, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent Bank (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s each Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Tranche 1 Maturity DateDate with respect to the Tranche 1 Term Loan and on the Tranche 2 Maturity Date with respect to the Tranche 2 Term Loan. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan Agreement (Viveve Medical, Inc.)

Repayment. Borrower shall make monthly payments of interest only only, in arrears, commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, or if either the Term B Loans are not made hereunder and (ii) US-ACT-OA Event or the Qualified Transaction Event occurs, then the repayment schedule shall equal thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six if the Amortization Date is April 1, 2021, twenty (3620) months, if the Term B Loans are not made hereunder and (ii) thirty if the Amortization Date is October 1, 2021, twenty-four (3024) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (89bio, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) Amortization Date is January 1, 2016, or thirty (30) months, if the Term B Loans are made hereunderAmortization Date is July 1, 2016. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-thirty (30) months if Term B Loans are disbursed pursuant to the terms hereof, and (ii) thirty- six (36) months, months if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunderdisbursed. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only only, in arrears, commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization DateAugust 1, 2018, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each LenderBank, as calculated by Collateral Agent Bank (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s the Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to twenty-one (i) thirty-six (3621) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Term Loan Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 3.4 New Subsection (f) of Section 2.6 of the Loan Agreement hereby is added to the end of Section 2.6 of the Loan Agreement to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (BioNano Genomics, Inc)

Repayment. Borrower shall make monthly payments in arrears of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower Xxxxxxxx agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-six (36) months, months if the Term B Loans are not made hereunder Amortization Date is December 1, 2024 and (iiy) thirty twenty- four (3024) months, months if the Term B Loans are made hereunderAmortization Date is December 1, 2025. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” ​

Appears in 1 contract

Samples: Loan and Security Agreement (Scholar Rock Holding Corp)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable plus interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (iix) thirty (30) months, if the Term B Loans are made hereunderAmortization Date is May 1, 2017, or (y) eighteen months, if the Amortization Date is May 1, 2018. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Term Loan Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoan then outstanding, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if months with respect to the Term A Loans (which shall be reduced to twenty-four (24) months upon the Funding Date of the Term B Loans are not made hereunder Loan) and twenty-four (ii24) thirty (30) months, if months with respect to the Term B Loans are made hereunderLoans. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) the thirty-six five (3635) monthsconsecutive months with respect to each Term Loan; provided, if however, that following Borrower’s achievement of the Term B Loans are not made hereunder C Milestone Event by no later than December 31, 2022, subject to the terms and conditions herein, such number of months shall be automatically reduced to twenty-three (ii23) thirty (30) months, if the consecutive months with respect to each Term B Loans are made hereunderLoan. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Impel Neuropharma Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower Xxxxxxxx agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (iy) thirtytwenty-six four (3624) months, months if the Term B Loans are not made hereunder Amortization Date is November 1, 2024 and (iiz) thirty twelve (3012) months, months if the Term B Loans are made hereunderAmortization Date is November 1, 2025. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months; provided, if however, that the Term B Loans are not made hereunder payment of principal that otherwise would have been due on the Amortization Date will be due and (ii) thirty (30) monthspayable on May 1, if the Term B Loans are made hereunder2017 along with any other payment of principal due on May 1, 2017. All The Final Payment and all unpaid principal and accrued and unpaid interest with respect to each Term Loan is are due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and Amortization Date is April 1, 2019 or (ii) thirty twenty-four (3024) months, if the Term B Loans are made hereunderAmortization Date is April 1, 2020. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule with respect to the Term Loans equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B C Loans are made hereunderhereunder occurs and (ii) thirty-six (36) months, otherwise. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Adma Biologics, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six if the Amortization Date is May 1, 2021, nineteen (3619) months, if the Term B Loans are not made hereunder and (ii) thirty if the Amortization Date is October 1, 2021, twenty-four (3024) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.2 Section 13.1 (Definitions). The following terms and their respective definitions hereby are amended and restated, in Section 13.1 of the Loan Agreement as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (89bio, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six eighteen (3618) months, if neither the Term B Loans nor the Term C Loans are not made hereunder and (ii) thirty twelve (3012) months, if either the Term B Loans or the Term C Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six five (3635) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.3 Section 2.4 (Secured Promissory Notes). Section 2.5 of the Loan Agreement hereby is amended and restated in its entirety to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Puma Biotechnology, Inc.)

Repayment. Borrower shall make monthly payments payments, in arrears, of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if months with respect to the Term A Loans and the Term B Loans are made hereunderLoans. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Galena Biopharma, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoan then outstanding, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) if the Amortization Date is April 1, 2021, thirty-six (36) months, if the Term B Loans are not made hereunder months and (ii) thirty if the Amortization Date is April 1, 2022, twenty-four (3024) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.3 Section 2.5 (Fees). Section 2.5(b) of the Loan Agreement hereby is amended and restated in its entirety to read as follows:

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term LoanLoans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term LoanLoans, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan Loans and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-if the Amortization Date is August 1, 2015, then thirty six (36) months, ; and (y) if the Term B Loans are not made hereunder and (ii) Amortization Date is February 1, 2016, then thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoan then outstanding, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule with respect to the Term Loans equal to (iA) thirty-six (36) months, months if the Term B Loans are not made hereunder CE Xxxx Approval Event occurs, and (iiB) thirty (30) months, forty months if the Term B Loans are made hereunderCE Xxxx Approval Event does not occur. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d). 3. Section 13.1 of the Loan Agreement is hereby amended by amending and restating the following definitions therein as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Senseonics Holdings, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such each Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-six (36) months, if the Term B Loans are not made hereunder and Amortization Date is October 1, 2015, or (iiy) thirty (30) months, if the Term B Loans are made hereunderAmortization Date is April 1, 2016. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first second (1st2nd) Payment Date following the Funding Date of each any Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each any Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if in the case of Borrower achieving all of the Term B Loans are not made hereunder and C Milestones, twenty-four (24) months or (ii) thirty (30) months, if the Term B Loans are made hereunderotherwise. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Rockwell Medical, Inc.)

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Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-if the Amortization Date is November 1, 2015, thirty six (36) months, months and (y) if the Term B Loans are not made hereunder and (ii) Amortization Date is May 1, 2016, thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Apricus Biosciences, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall (i) make monthly payments of interest, to each Lender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon the effective rate of interest applicable to the Term Loan, as determined in Section 2.3(a) plus (ii) make consecutive equal monthly payments of principal, together with applicable interest, in arrears, principal to each LenderLender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1A) the amount respective principal amounts of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a)Loans outstanding, and (3B) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if months remaining from the Term B Loans are made hereunderAmortization Date through the Maturity Date. All unpaid principal and accrued and unpaid interest with respect to each such Term Loan is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Apollo Endosurgery, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirtyif the Amortization Date is October 1, 2022, twenty-six four (3624) months, if the Term B Loans are not made hereunder and (ii) thirty if the Amortization Date is April 1, 2023, eighteen (3018) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.3 Section 3.1 (

Appears in 1 contract

Samples: Loan and Security Agreement (89bio, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirtytwenty-six three (3623) months, months if the Term B Loans are not made hereunder Amortization Date is December 1, 2023, and (iiy) thirty eleven (3011) months, months if the Term B Loans are made hereunderAmortization Date is December 1, 2024. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term LoanLoans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term LoanLoans, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan Loans and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-thirty six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Arqule Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six if the Amortization Date is June 1, 2021, eighteen (3618) months, if the Term B Loans are not made hereunder and (ii) thirty if the Amortization Date is October 1, 2021, twenty-four (3024) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.2 Section 13.1 (Definitions). The following terms and their respective definitions hereby are amended and restated, in Section 13.1 of the Loan Agreement as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (89bio, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six thirty (3630) months, months if the Term B C Loans are not made hereunder and (ii) thirty twenty-four (3024) months, months if the Term B C Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Strongbridge Biopharma PLC)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall (i) make monthly payments of interest, to each Lender in accordance with its Pro Rata Share, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon the effective rate of interest applicable to the Term Loan, as determined in Section 2.3(a) plus (ii) make consecutive equal monthly payments of principal, together with applicable interest, in arrears, principal to each LenderLender in accordance with its Pro Rata Share in accordance with their respective Pro Rata Shares, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1A) the amount respective principal amounts of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a)Loans outstanding, and (3B) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each such Term Loan is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereofafter such Funding Date. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall (i) make monthly payments of interest to each Lender in accordance with its Pro Rata Share calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon the effective rate of interest applicable to the Term Loan, as determined in Section 2.3(a) plus (ii) make consecutive equal monthly payments of principal, together with applicable interest, in arrears, principal to each Lender, Lender in accordance with its Pro Rata Share as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1A) the amount respective principal amounts of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a)Loans outstanding, and (3B) a repayment schedule equal to (i) straight-line amortization of thirty-six (36) months, if the Term B Loans are not made hereunder and months or twenty-four (ii) thirty (3024) months, if depending on the Term B Loans are made hereunderapplicable Amortization Date. All unpaid principal and accrued and unpaid interest with respect to each such Term Loan is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoan then outstanding, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule with respect to the Term Loans equal to (iA) thirty-six (36) months, months if the Term B Loans are not made hereunder CE Xxxx Approval Event occurs, and (iiB) thirty (30) months, forty-two months if the Term B Loans are made hereunderCE Xxxx Approval Event does not occur. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Senseonics Holdings, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization DateDate of such Term Loan. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization DateDate for the Term Loans, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent Bank (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s the Term LoanLoans outstanding, (2) the effective rate of interest, as determined in under Section 2.3(a2.4(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (iiA) thirty (30) months, if the Term B Loans are made hereunderLicensing Event does not occur, or (B) twenty-four (24) months, if the Licensing Event occurs. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity DateDate with respect to the Term Loans. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Codexis Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) Amortization Date is May 1, 2014, or thirty (30) months, if the Term B Loans are made hereunderAmortization Date is November 1, 2014. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-thirty six (36) months, if which such estimated monthly payments are set forth in the Term B Loans are not made hereunder and (ii) thirty (30) months, if amortization table attached to the Term B Loans are made hereunderDisbursement Letter applicable to such term loan. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Nanosphere Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six five (3635) months, if the Term B Loans are I/O Extension Event does not made hereunder occur and (ii) thirty twenty-three (3023) months, if the Term B Loans are made hereunderI/O Extension Event occurs. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (4D Pharma PLC)

Repayment. Borrower shall make monthly payments of interest only commencing on the first second (1st2nd) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the New Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-six five (3635) months, if the Term B Loans are not made hereunder and Amortization Date is June 1, 2023 or (iiy) thirty twenty-three (3023) months, if the Term B Loans are made hereunderAmortization Date is June 1, 2024. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 3. New Section 2.5(f) hereby is added to the Agreement to read as follows:

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to thirty (i30) months with respect to the Term Loans if Term B Loans are made in accordance with the terms hereof and thirty-six (36) months, months with respect to the Term A Loans if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereundermade. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Organovo Holdings, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, months if the Term B Loans are not made hereunder Amortization Date is July 1, 2021 and (ii) thirty (30) months, months if the Term B Loans are made hereunderAmortization Date is January 1, 2022. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) consecutive months, if with respect to each of the Term A Loans and Term B Loans are made hereunderLoans. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Agile Therapeutics Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) if the Amortization Date is January 1, 2021, thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) if the Amortization Date is July 1, 2021, thirty (30) months, months and (iii) if the Term B Loans are made hereunderAmortization Date is January 1, 2022, twenty-four (24) months. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Cytokinetics Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, months if the Term B Loans are not made hereunder Amortization Date is July 1, 2020 and twenty-four (ii24) thirty (30) months, months if the Term B Loans are made hereunderAmortization Date is July 1, 2021. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Acelrx Pharmaceuticals Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization DateDate for such Term Loan, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) (i) a repayment schedule equal to thirty (i30) thirty-six (36) months, months if the Term B Loans are I/O Extension Event does not made hereunder occur, and (ii) thirty a repayment schedule equal to twenty-four (3024) months, months if the Term B Loans are made hereunderI/O Extension Event occurs. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity DateDate of such Term Loan. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoan then outstanding, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule with respect to the Term Loans equal to (iA) thirty-six (36) months, months if the Term B C Loans are have not made hereunder been made, and (iiB) thirty (30) months, months if the Term B C Loans are have been made hereunderin accordance with the terms hereof. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Senseonics Holdings, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term LoanLoans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term LoanLoans, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan Loans and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Durect Corp)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to (iA) thirty-thirty six (36) months, months if the Term B Loans are I/O Extension Event does not made hereunder occur, and (iiB) thirty twenty-four (3024) months, months if the Term B Loans are made hereunderI/O Extension Event occurs. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Entellus Medical Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirtytwenty-six three (3623) months, if the Term B C Loans are not made hereunder and or (ii) thirty eleven (3011) months, if the Term B C Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d). 4. Section 2.5 of the Loan Agreement is hereby amended by deleting the word “and” at the end of Section 2.5(d), replacing “.” at the end of Section 2.5(e) with “; and” and adding the following Section 2.5(f) thereto:

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only only, in arrears, commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each LenderBank, as calculated by Collateral Agent Bank (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a2.4(a), and (3) a repayment schedule equal to (i) if the Amortization Date is February 1, 2018, thirty-six (36) months, if the Term B Loans are not made hereunder months and (ii) if the Amortization Date is August 1, 2018, thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Term Loan Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Ekso Bionics Holdings, Inc.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to twenty-nine (i29) thirty-six (36) months, if months commencing on the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunderAmortization Date. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.2 Section 2.5(f) (Fees). Section 2.5 of the Loan Agreement is hereby amended by inserting the following new Section 2.5(f):

Appears in 1 contract

Samples: Loan and Security Agreement (Selecta Biosciences Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) forty-one (41) months if the Amortization Date is April 1, 2022, or (y) thirty-six five (3635) months, months if the Term B Loans are not made hereunder and (ii) thirty (30) monthsAmortization Date is October 1, if the Term B Loans are made hereunder2022. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Selecta Biosciences Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term LoanLoans, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term LoanLoans, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan Loans and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-if the Amortization Date is March 1, 2017, thirty six (36) months, ; and (y) if the Term B Loans are not made hereunder and (ii) Amortization Date is September 1, 2017, thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan Loans is due and payable in full on the Maturity Date. Each The Term Loan Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirtyforty-six two (3642) months, if the Term B Loans are not made hereunder and (ii) thirty thirty-six months (30) months36), if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Cerus Corp)

Repayment. Borrower shall make monthly payments in arrears of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower Xxxxxxxx agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (iix) thirty (30) months, months if the Term B Loans are made hereunderAmortization Date is June 1, 2025 and (y) twenty-four (24) months if the Amortization Date is December 1, 2025. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” ​

Appears in 1 contract

Samples: Loan and Security Agreement (Scholar Rock Holding Corp)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-six (36) months, months if the Term B Loans are not made hereunder and Amortization Date is May 1, 2023 or (iiy) thirty twenty-four (3024) months, if the Term B Loans are made hereunderAmortization Date is May 1, 2024. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Locust Walk Acquisition Corp.)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term LoanLoan then outstanding, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (ii) thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.3 Section 2.5 (Fees). Section 2.2(b) of the Loan Agreement hereby is amended and restated in its entirety to read as follows:

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirty-six (36) months, if the Term B Loans are not made hereunder Amortization Date is January 1, 2016, then forty two (42) months and (iiy) if the Amortization Date is January 1, 2017, then thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Cerus Corp)

Repayment. Borrower shall make monthly payments of interest only only, in arrears, commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, or if the Term B Loans are not made hereunder Revenue Event occurs (and (ii) evidence of its occurrence reasonably satisfactory to the Collateral Agent is provided to the Collateral Agent no later than July 25, 2014), then the repayment schedule shall equal thirty (30) months, if the Term B Loans are made hereunder. All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each the Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each the Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such the Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to twenty-four (i) thirty-six (3624) months, if the Term B Loans are not made hereunder and Amortization Date is February 1, 2016 (ii) thirty or, eighteen (3018) months, if the Term B Loans are made hereunderAmortization Date is August 1, 2016). All unpaid principal and accrued and unpaid interest with respect to each the Term Loan is due and payable in full on the Maturity Date. Each The Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 2.2 Section 2.2(c)

Appears in 1 contract

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

Repayment. Borrower shall make monthly payments of interest only only, in arrears, commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal to (ix) thirtyforty-six one (3641) months, if the Term B Loans are not made hereunder and Amortization Date is June 1, 2019; or (iiy) thirty thirty-five (3035) months, if the Term B Loans are made hereunderAmortization Date is December 1, 2019. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date. Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Cytokinetics Inc)

Repayment. Borrower shall make monthly payments of interest only commencing on the first (1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately preceding the Amortization DateDate of such Term Loan. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof. Commencing on the Amortization DateDate for the Term Loans, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal, together with applicable interest, in arrears, to each Lender, as calculated by Collateral Agent Bank (which calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s the Term LoanLoans, (2) the effective rate of interestEffective Interest Rate, as determined in Section 2.3(a), and (3) a repayment schedule equal to (i) thirty-six (36) months, if the Term B Loans are not made hereunder and (iiA) thirty (30) months, if the Term B Loans are made hereundernot drawn, and (B) twenty-four (24) months, if the Term B Loans are drawn. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity DateDate with respect to the Term Loans. Each For the avoidance of doubt, if Borrower pays the Term Loan in full on the Maturity Date in accordance with this Agreement, no prepayment fee will apply. The Term Loans may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).

Appears in 1 contract

Samples: Loan and Security Agreement (Cytosorbents Corp)

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