Draw Condition definition

Draw Condition has the meaning specified in Section 14.2(a).
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Draw Condition means Borrower has provided the Lenders with evidence, satisfactory to the Lenders in their sole discretion, confirming that Borrower has at least three (3) distinct and active Clinical Stage Programs.
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Examples of Draw Condition in a sentence

  • At best, then, Draw Condition 3(A) implies a certification from sources named or sources not named (possibly including the Beneficiary), but not simply from the Beneficiary alone.

  • See, e.g., Draw Condition 2(A) (requiring a certification from the Beneficiary); Draw Condition 3(B) (“A DATED CERTIFICATION SIGNED BY THE BENEFICIARY ….”).

  • Pursuant thereto, and on the terms and conditions hereinafter set forth, each Initial Lender agrees to fund Draws to the Borrower from time to time during the Initial Draw-Down Period in an aggregate amount not to exceed such Initial Lender’s Commitment, provided, however, that under no circumstances shall any Initial Lender be required to fund any Draw unless, both prior to and after giving effect to such Draw, each Draw Condition Precedent shall be satisfied.

  • The crux of Spiegel’s argument is that Wintrust was required to strictly comply with the Letter of Credit, and that Draw Condition 3(A) could only be satisfied by presenting a copy of an order/opinion certified by the Illinois Appellate Court.

  • Upon the occurrence of a Draw Condition, Citadel shall execute the joint certificate referenced in Section 2.3.

  • Thus, Wintrust argues, Spiegel’s reading of Draw Condition 3(A) creates a condition where performance is impossible.

  • We represent and warrant that in such cases, such entities shall not have any priority in a trade execution over any other eToro X user.

  • In the event of termination of this Agreement pursuant to any other provision of Section 15.1 not constituting a Draw Condition, Sellers shall return the original Letter of Credit and, if applicable, the Additional Letter of Credit to Citadel, and Citadel shall be entitled to receive the Escrow Amount (if applicable).

  • It requires “A CERTIFIED COPY OFAN ORDER/OPINION FROM THE APPELLATE COURT OF ILLINOIS FOR THE FIRSTDISTRICT.” Spiegel argues that Draw Condition 3(A) means a copy of the Appellate Court Order certified by the Illinois Appellate Court itself.

  • When pressed on this issue, counsel to Spiegel articulated that the Objection is not based on that vacatur, but rather solely on the strict compliance with Draw Condition 3(A).

Related to Draw Condition

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Extension Conditions Defined in Section 3.06(a).

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • Minimum Condition has the meaning set forth in Annex I.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below) and, (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage”: shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%.; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • Delivery Condition has the meaning set forth in Section 2.1.

  • LC Conditions has the meaning given to such term in Section 2.9.

  • Release Condition means the following:

  • Acceptance Condition means, with respect to an Offer, the condition set forth in the Offer Documents with respect to the number of acceptances to an Offer which must be secured to declare such Offer unconditional as to acceptances which shall be more than 50% of the Target shares carrying voting rights.

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Distribution Conditions means, with respect to any Restricted Payment or Restricted Junior Debt Prepayment, the following:

  • Condition Satisfaction Date shall have the meaning set forth in Section 7.2.

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Acute condition means a disease, illness or injury that is likely to respond quickly to treatment which aims to return the person to his or her state of health immediately before suffering the disease/ illness/ injury which leads to full recovery.

  • Maximum Tender Condition has the meaning specified in Section 2.17(b).

  • Eligibility Conditions means the eligibility conditions specified in the Act and the Rules including all the eligibility conditions listed in Clause [5] of the Tender Document.

  • Payment Conditions means, at the time of determination with respect to a proposed payment to fund a Specified Transaction, that:

  • Equity Conditions Failure means that on any applicable date the Equity Conditions have not been satisfied (or waived in writing by the Holder).

  • Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).

  • Rating Condition has the meaning specified in Section 2.06(c)(ii).