Common use of Tranche II Term Loan Clause in Contracts

Tranche II Term Loan. Subject to the terms and conditions of this Agreement and conditioned on Borrower’s achievement of the Milestones in accordance with the definition thereof, during the Tranche II Term Loan Advance Period, at Borrower’s request, Lender will severally (and not jointly), subject to all of the conditions required hereunder, make in an amount not to exceed its respective Term Loan Commitment, Tranche II Term Loans in a principal amount up to Ten Million Dollars ($10,000,000) (the “Tranche II Term Loan Advance”). The aggregate outstanding Tranche II Term Loan Advance shall not exceed the Maximum Tranche II Term Loan Amount.

Tranche II Term Loan. Subject to the terms and conditions of this Agreement and conditioned on Borrower’s achievement of each element of the Milestones Milestone in accordance with the definition thereof, during the Tranche II Term Loan Advance Period, at Borrower’s request, Lender will severally (and not jointly), subject to all of the conditions required hereunder, ) make in an amount not to exceed its respective Tranche II Contingent Term Loan Commitment, the Tranche II Term Loans Loan in a principal an amount up equal to Ten Million Dollars ($10,000,000) 10,000,000 (the “Tranche II Term Loan Advance”). The aggregate outstanding Tranche II Term Loan Advance shall not exceed the Maximum Tranche II Term Loan Amount.