Draw Period B definition

Draw Period B is set forth on Schedule I hereto.

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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 is the period of time commencing upon the occurrence of the Draw Period B Event and ending on the earlier to occur of (i) March 31, 2019 and (ii) the date of the occurrence of an Event of Default.

Examples of Draw Period B in a sentence

• 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, 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 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-six (36) consecutive equal monthly installments of principal plus (ii) monthly payments of accrued interest, beginning on September 1, 2010 and ending on August 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.

• Subject to the terms and conditions of this Agreement, upon ▇▇▇▇▇▇▇▇’s request, during Draw Period B, Bank shall make term loan advances in an amount not exceeding the Term B Loan Availability Amount (each such advance is referred to herein as a “Term B Loan Advance” and, collectively, as the “Term B Loan Advances”).

More Definitions of Draw Period B

Draw Period B means the period commencing upon the occurrence of both the Second Revenue Event and the Equity Event and ending on the earlier to occur of (i) June 15, 2014, and (ii) an Event of Default that has occurred and is continuing.

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 commencing upon the occurrence of the IP Release Event and continuing through May 17, 2017.

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

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 means the period commencing upon the occurrence of the Draw Period B Milestone Event and ending on the earlier to occur of (i) December 15, 2015, and (ii) an Event of Default.