Term B Draw Period definition

Term B Draw Period is the period commencing on the date of the occurrence of the Term B Milestone and ending on the earlier of (i) the date which is thirty (30) days after the date the Term B Milestone is achieved, (ii) March 31, 2021 and (iii) the occurrence of an Event of Default; provided, however, that the Term B Draw Period shall not commence if on the date of the occurrence of the Term B Milestone an Event of Default has occurred and is continuing.

Term B Draw Period means the period of time commencing upon the occurrence of the First Milestone Event and continuing through the earlier to occur of (a) June 30, 2018 or (b) an Event of Default that has not been cured or waived.

Term B Draw Period is the period of time commencing on the later of (a) the date Borrower achieves the Term B Draw Period Milestone and (b) July 1, 2018, and ending on December 31, 2018.

Examples of Term B Draw Period in a sentence

• Subject to the terms and conditions of this Agreement, during the Term B Draw Period, upon Borrower’s written request in accordance with this Agreement, Lender will severally (and not jointly) make in an amount not to exceed its respective Term Commitment, one (1) advance in a principal amount of Five Million Dollars ($5,000,000.00) (the “Term B Loan Advance”).

• Subject to the terms and conditions of this Agreement, during the Term B Draw Period, upon Borrower’s written request in accordance with this Agreement, Lender will severally (and not jointly) make in an amount not to exceed its respective Term Commitment, one (1) advance in a principal amount of Two Million Five Hundred Thousand Dollars ($2,500,000) (the “Term B Loan Advance”).

• Subject to the terms and conditions of this Agreement, during the Term B Draw Period, Bank shall make one (1) advance (the “Term B Loan Advance”) available to Borrower in an amount of up to Two Million Dollars ($2,000,000.00).

• During the Term B Draw Period, subject to the terms and conditions of this Agreement, Borrower may request and Bank shall make one (1) term loan available to Borrower in the amount of Five Million Dollars ($5,000,000.00) (the “Term B Loan”).

• During the Term B Draw Period, subject to the terms and conditions of this Agreement, Borrower may request and Bank shall make one (1) term loan to Borrower in the amount of Fifteen Million Dollars ($15,000,000.00) (the “Term B Loan”).

More Definitions of Term B Draw Period

Term B Draw Period means the period of time commencing upon the occurrence of the Term B Milestone Event and continuing through the earlier to occur of (a) September 30, 2018 and (b) an Event of Default. “Term B Loan Advance” and “Term B Loan Advances” shall each have the meaning assigned to such terms in Section 2.1(a).

Term B Draw Period is the period of time commencing on the Effective Date and ending on the earlier of (i) December 31, 2018 or (ii) the occurrence of an Event of Default that continues.

Term B Draw Period is the period commencing on the later of June 30, 2021 and the first date on which Borrower achieves the Term B Milestone and ending on the earlier of (i) March 31, 2022 or (ii) the occurrence of an Event of Default (unless such Event of Default is waived by Collateral Agent and Lenders for the purposes of the continuation of the Term B Draw Period); provided, however, that the Term B Draw Period shall not commence if when Borrower achieves the Term B Milestone, an Event of Default has occurred and is continuing.

Term B Draw Period is the period commencing on the date of the occurrence of the Term B Milestone, provided that if the Term B Milestone is achieved prior to October 1, 2022, then the Term B Draw Period shall commence on October 1, 2022, and ending on the earliest of (i) December 30, 2022 and (ii) the occurrence of an Event of Default (which has not been waived by Collateral Agent and the Required Lenders in writing in their sole discretion); provided, however, that the Term B Draw Period shall not commence if on the date of the occurrence of the Term B Milestone an Event of Default has occurred. (unless and until such Event of Default has been waived by Collateral Agent and the Required Lenders in writing in their sole discretion explicitly for the purposes of the commencement and/or reinstatement of the Term B Draw Period); provided further that, for the avoidance of doubt, such Term B Draw Period shall automatically be reinstated with the same force and effect upon the waiver by the Collateral Agent and Required Lenders in writing in their sole discretion of such Event of Default explicitly for the purposes of the commencement and/or reinstatement of the Term B Draw Period.

Term B Draw Period is the period of time commencing on the date Borrower achieves the Equity Milestone and ending on June 30, 2021.

Term B Draw Period means the period of time commencing upon the Closing Date,

Term B Draw Period is [insert date of Amendment No. 1] through December 31, 2011.”