Examples of SVB Agreement in a sentence
SVB shall use commercially reasonable efforts to give ORIX (i) a copy of any written notice of the occurrence or existence of an event of default under any of the SVB Documents sent to the Company, simultaneously with the sending of such notice to the Company, and (ii) written notice of any termination of the SVB Agreement.
Following the completion of this offering and the additional funds to be raised pursuant hereto, the Company expects that it will continue to remain in compliance with all covenants under the SVB Agreement eliminating any material risk of default.
Borrower shall cause the SVB Agreement to remain in effect for so long as Borrower owes any amounts under this Agreement, in the form presented to Lenders on the date hereof.
Prior to the Closing, NetScout agrees to either (a) obtain any waivers, consents or amendments from Silicon Valley Bank (“SVB”) that would be required under the Amended and Restated Loan and Security Agreement, dated as March 12, 1998 and as amended through the date hereof (the “SVB Agreement”), between NetScout and SVB in order to consummate the transactions contemplated by this Agreement or (b) terminate the SVB Agreement prior to the Closing.
The Company shall cause the Obligations (as defined in the SVB Agreement) under the SVB Agreement to be paid in full and all Liens on Collateral (as defined in the SVB Agreement) to be extinguished and released, in each case as of the Closing.
Under the SVB Agreement, the Company has term loan advances and a revolving line of credit (“LOC”), which are secured by the assets of the Company.
In conjunction with the execution of the SVB Agreement, the Company issued SVB a warrant to purchase 162,000 shares of common stock at an exercise price of $0.58 per share.
Grantor shall at all times when the SVB Lien is in existence comply with Sections 6.8 and 7.6 of the SVB Agreement.
Under the original terms of the SVB Agreement, the Company had the ability to borrow up to $15.0 million at any time prior to December 31, 2021.
Insurance policies shall be in a form, with companies, and in amounts that (i) if the SVB Agreement remains effective, are standard for companies in Borrower’s industry and location, and (ii) if the SVB Agreement is no longer in effect, are satisfactory to Initial Lender.