Tranche 4 Advance. The Purchasers shall make the Tranche 4 Advance subject to the fulfillment of each of the following conditions on or prior to the Tranche 4 Funding Date in a manner, form and substance reasonably satisfactory to the Gotham Purchasers:
Tranche 4 Advance. Subject to the terms and conditions of this Agreement, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case on and conditioned on approval by Lenders’ investment committee in its sole and unfettered discretion, additional Term Loan Advances in an aggregate principal amount up to Twenty-Five Million Dollars ($25,000,000) in minimum draws of at least Ten Million Dollars ($10,000,000) (or if less than Ten Million Dollars ($10,000,000), the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(f)) (each, a “Tranche 4 Advance”); The aggregate outstanding Term Loan Advances shall not exceed the Maximum Term Loan Amount plus, for the avoidance of doubt, any amount equal to the Term Loan PIK Interest added to principal pursuant to Section 2.2(h)(ii). Each Term Loan Advance of each Lender shall not exceed its respective Term Commitment plus, for the avoidance of doubt, any amount equal to the Term Loan PIK Interest added to principal pursuant to Section 2.2(h)(ii). After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed.
Tranche 4 Advance. Subject to the terms and conditions of this Agreement (including, for the avoidance of doubt, the Loan Parties’ satisfaction of the applicable conditions set forth in Sections 2.2(a), 4.2 and 4.3 hereof) and the achievement of the Performance Milestone, on or prior to the earlier of December 15, 2024 or ninety (90) days following the achievement of the Performance Milestone, Borrower may request, and the Lenders shall severally (and not jointly) make, additional Term Loan Advances in an aggregate principal amount up to Thirty-Five Million Dollars ($35,000,000) less the aggregate principal amount of the funded Tranche 3 Advance, in minimum draws of at least Ten Million Dollars ($10,000,000) (or if less than Ten Million Dollars ($10,000,000), the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.2(d)) (each, a “Tranche 4 Advance”); provided that Borrower shall not be permitted to request more than two (2) Tranche 4 Advances in total.
