Term Loan Tranche 1 definition

Term Loan Tranche 1 has the meaning set forth in Section 2.1(a)(i)(A).

Term Loan Tranche 1 means a credit extension of up to Fifteen Million Dollars ($15,000,000).

Term Loan Tranche 1 means the term loans made hereunder in respect of the Lenders’ Term Loan Tranche 1 Commitments.

Examples of Term Loan Tranche 1 in a sentence

• Each such Lender’s obligation to fund the Term Loan Tranche 1 shall be limited to such Lender’s Term Loan Tranche 1 Commitment Percentage, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded.

• The Prepayment Fee in respect of each of Term Loan Tranche 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) three percent (3.0%) for the first year following the Closing Date, (y) two percent (2.0%) for the second year following the Closing Date and (z) one percent (1.0%) thereafter.

• On the terms and subject to the conditions set forth herein and in the other Financing Documents, each Lender with a Term Loan Tranche 1 Commitment Amount severally hereby agrees to make to Borrowers a Term Loan on the Closing Date in an original aggregate principal amount equal to the Term Loan Tranche 1 Commitments (the “Term Loan Tranche 1”).

• Agveement fovmatson Table 2 shows that apart from two cases in BC-5 all other pairs of subjects reached an agreement.

• Borrowers shall use the proceeds of the Term Loan Tranche 1 borrowing solely for (a) payment of transaction fees incurred in connection with the Financing Documents and (b) the payment in full on the Closing Date of certain existing Debt.

• Each such Lender’s obligation to fund the Term Loan Tranche 1 shall be limited to such Lender’s Term Loan Tranche 1 Commitment Amount, and no Lender shall have any obligation to fund any portion of any Term Loan required to be funded by any other Lender, but not so funded.

• For the avoidance of doubt, all Loans, including the Term Loan Tranche 1 and Term Loan Tranche 2, shall bear interest at the sum of the SOFR Interest Rate plus the Applicable Margin starting on and at all times after the Closing Date.

• The Term Loan Tranche 1 Advance, once repaid, may not be reborrowed.

• The Prepayment Fee in respect of each of Term Loan Tranche 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (w) three percent (3.0%) for the first year following the Closing Date, (x) two percent (2.0%) for the second year following the Closing Date, (y) one percent (1.0%) for the third year following the Closing Date and (z) zero percent (0.0%) thereafter.

• The Prepayment Fee in respect of the Term Loan Tranche 1 shall be equal to an amount determined by multiplying the amount being prepaid (or required to be prepaid, if such amount is greater) by the following applicable percentage amount: (x) three percent (3.0%) for the first year following the Closing Date, (y) two percent (2.0%) for the second year following the Closing Date and (z) one percent (1.0%) thereafter.

More Definitions of Term Loan Tranche 1

Term Loan Tranche 1 has the meaning set forth in Section 2.1(a)(i)(A). MidCap / Aptevo Therapeutics / Term Credit and Security Agreement \DC - 036639/000031 - 8550121 v15

Term Loan Tranche 1 means the initial Term Loan in the amount of $5,000,000 to be funded on the Closing Date pursuant to and in accordance with the terms and conditions set forth in Section 2.1(a) and elsewhere in this Agreement.