Term Loan Advance definition
Examples of Term Loan Advance in a sentence
The Lenders shall fund the Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Term Loan Advance is satisfied as of the requested Advance Date.
After prepayment, no Term Loan Advance (or any portion thereof) may be reborrowed).
Subject to the terms and conditions of this Agreement and the achievement of the Revenue Milestone, Borrower may request, and the Lenders shall severally (and not jointly) make, in each case on or prior to the earlier of (i) December 31, 2027 or (ii) sixty (60) days following the achievement of the Revenue Milestone, one additional Term Loan Advance in an aggregate principal amount up to Fifty Million Dollars ($50,000,000) (the “Tranche 5 Advance”).
To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least five (5) Business Days before the Advance Date other than the Closing Date and the Third Amendment Closing Date, which shall be at least one (1) Business Day) to Agent.
Subject to the terms and conditions of this Agreement, on the Second Amendment Closing Date, the Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance in an aggregate principal amount not less than Fifteen Million Dollars ($15,000,000); provided, that the aggregate amount of Term Loan Advances made under this Section 2.2(b) shall not exceed $15,000,000 (such Term Loan Advance, the “Tranche 2 Advance”).