Third Borrowing Milestone definition

Third Borrowing Milestone has the meaning set forth in Section 6.03(c).
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Third Borrowing Milestone means the Obligors shall have achieved Revenue of at least $25,000,000 during any consecutive three-month period ending on or prior to March 31, 2020.
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Examples of Third Borrowing Milestone in a sentence

  • Borrower shall have delivered to Administrative Agent a notice certifying satisfaction of the Third Borrowing Milestone no later than thirty (30) days thereafter.

  • Confirmation that the Borrower’s Revenue from the sale of the Products has exceeded [redacted in accordance with Section 12.2(3) of National Instrument 51-102] during any consecutive twelve (12) month period (the “Third Borrowing Milestone”), provided that the Third Borrowing Milestone shall be achieved no later than June 30, 2017.

  • A Notice of Borrowing shall have been received no later than sixty (60) calendar days after achievement by Borrower of the Third Borrowing Milestone.

  • Confirmation that [redacted] (collectively, the “Third Borrowing Milestone”), provided that the Third Borrowing Milestone shall be achieved in time to provide the Administrative Agent with a Notice of Borrowing in compliance with Section 2.02 and Section 6.03(a).

Related to Third Borrowing Milestone

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Borrowing Minimum means (a) in the case of Eurocurrency Loans, $1,000,000, (b) in the case of ABR Loans, $1,000,000 and (c) in the case of Swingline Loans, $500,000.

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • Incremental Amount has the meaning specified in Section 2.14(a).

  • Borrowing Multiple means (a) in the case of a Borrowing denominated in US Dollars, US$1,000,000 and (b) in the case of a Borrowing denominated in any Alternative Currency, 1,000,000 units of such currency.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • Incremental Term Borrowing means a Borrowing comprised of Incremental Term Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Notice of Committed Borrowing has the meaning set forth in Section 2.02.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.14(f)(ii).

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • Committed Borrowing means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Fixed Incremental Amount has the meaning specified in the definition of “Permitted Incremental Amount.”

  • Available Incremental Amount has the meaning set forth in Section 2.14(d)(v).

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.