Examples of Extension Milestone in a sentence
We may approve, in Our sole discretion, the Initial Extension in the absence of Your completion of the Availability Period Extension Milestone.
The Loan Agreement provides for interest-only payments for each advance for the first 18 months, however the interest-only period was extended to 24 months as a result of the Company satisfying the Interest Only Extension Milestone (as defined in the Loan Agreement) in the third quarter of 2021.
We may approve, in Our sole discretion, the Second Extension in the absence of Your completion of the Availability Period Extension Milestone.
Lenders acknowledge and agree that, as of the date of this Amendment, Borrower has satisfied the Interest-Only Extension Milestone, as amended by this Amendment.
As of the last day of each month, a Liquidity Ratio of not less than (i) 1.25:1.00 for each month prior to Borrower achieving the Extension Milestone, and (ii) 1.50:1.00 for each month after Borrower achieves the Extension Milestone.