Draw Period B definition

Draw Period B is the period of time from January 1, 2010 through the earlier to occur of (a) August 31, 2010 or (b) an Event of Default, which shall only be an available draw period upon Borrower’s satisfaction of the Equipment Advance B Conditions.

Draw Period B is the period of time from the occurrence of the Equity Event through the earlier to occur of (a) June 30, 2014 or (b) an Event of Default.”

Draw Period B means the period of time commencing upon the occurrence of the Funding Conditions and continuing through the earliest to occur of (a) June 30, 2020, or (b) an Event of Default that is continuing.

Examples of Draw Period B in a sentence

• Subject to the terms and conditions of this Agreement, during Draw Period B, upon Borrower’s request, Bank shall make advances (each a “Term B Loan Advance” and collectively, the “Term B Loan Advances”) to Borrower in the aggregate original principal amount not to exceed Ten Million Dollars ($10,000,000.00).

• Subject to the terms and conditions of this Agreement, during Draw Period B, Bank shall make advances (each, a “Term B Loan Advance” and collectively, the “Term B Loan Advances”) available to Borrower in an aggregate principal amount not to exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00).

• Subject to the terms and conditions of this Agreement, upon Borrower’s request, during Draw Period B, Bank shall make one (1) term loan advance (the “Term B Loan Advance”) available to Borrower in an original principal amount of Four Million Dollars ($4,000,000.00).

• Subject to the terms and conditions of this Agreement, during Draw Period B, Bank shall make one (1) advance (the “Term B Loan Advance”) available to Borrower in an original principal amount not to exceed Five Million Dollars ($5,000,000.00).

• Equipment Advances B outstanding on the last day of the Draw Period B are payable in (i) thirty-four (34) consecutive equal monthly installments of principal plus (ii) monthly payments of accrued interest, beginning on first day of each month following the last day of the Draw Period B and ending on June 1, 2013, on which all remaining Equipment Advances B shall be repaid in full together with all unpaid and accrued interest and all other Obligations relating thereto.

More Definitions of Draw Period B

Draw Period B is the period of time commencing upon the Effective Date and continuing through the earlier to occur of June 30, 2020.

Draw Period B means the period of time commencing upon the occurrence of the Funding Condition and continuing through the earliest to occur of (a) June 30, 2020, or (b) an Event of Default.

Draw Period B is set forth on Schedule I hereto.

Draw Period B is the period of time commencing upon the occurrence of the IP Release Event and continuing through May 17, 2017.

Draw Period B is the period of time commencing upon the occurrence of the Term B Event and continuing through November 9, 2017.

Draw Period B. “Draw Period B” is the period commencing upon the occurrence of the Term B Milestone Event and ending on July 31, 2026.

Draw Period B is the period of time from the Second Amendment Effective Date through the earlier to occur of (a) March 31, 2011, or an Event of Default.”