Term Loan B Availability Start Date definition

Term Loan B Availability Start Date means the achievement by Borrower of positive top-line results from at least one Phase 2 program which shall be satisfactory to Borrower’s board of directors in their sole discretion, and verified by Bank through a written document signed by the Borrower’s board of directors.
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Term Loan B Availability Start Date means the receipt by Agent and the Required Lenders of evidence reasonably acceptable to Agent and the Required Lenders that Borrower has received positive results from its second Phase III clinical trial for Borrower’s KPI-121 product candidate for the treatment of inflammation and pain following cataract surgery. For purposes of clarity, ‘positive’ results shall mean (i) achievement of the primary endpoint of proportion of study eyes with complete resolution of anterior chamber cells at day 8 (maintained through day 15) sufficient to support NDA submission and (ii) no significant treatment-related safety findings observed during the course of the trial that would prevent submission of the NDA. An investor who has appointed a member to Borrower’s Board of Directors, chosen by Agent and the Required Lenders, must confirm to Agent and the Required Lenders that the aforementioned ‘positive’ results are sufficient to support an NDA submission.
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Term Loan B Availability Start Date means the date of receipt by Agent and the Required Lenders of evidence reasonably acceptable to Agent and the Required Lenders that Borrower has achieved the Term Loan B Milestone, provided that receipt by Agent and the Required Lenders of such evidence must occur no later than the date that is twelve (12) months after the Third Amendment Date.
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Examples of Term Loan B Availability Start Date in a sentence

  • Borrower may request Term Loans B at any time from the Term Loan B Availability Start Date through the Term Loan B Availability End Date.

  • Borrower may request the Term Loan B at any time from the Term Loan B Availability Start Date through the Term Loan B Availability End Date.