Third Draw Condition definition

Third Draw Condition means, at any time after the Term B Loans have funded, the date on which Borrower provides evidence, in form and content acceptable to Collateral Agent and Lenders, that Borrower has achieved consolidated revenue of commercial product sales and royalties from commercial product sales (excluding, however, any upfront or milestone payments from licensing agreements), measured in accordance with GAAP on a trailing six month basis as of the last day of any fiscal month, of not less than Forty-Five Million Dollars ($45,000,000.00).
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Third Draw Condition is the NDA approval of G-Pen.
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Third Draw Condition means Borrower has received, on a cumulative basis, at least any of (a) forty-seven (47) System Orders during the period from January 1, 2020 to September 30, 2021, (b) fifty-one (51) System Orders during the period from October 1, 2021 to December 31, 2021, or (c) fifty-four (54) System Orders during the period from January 1, 2022 to May 14, 2022, in each case, measured on a trailing 18-month basis beginning no earlier than January 1, 2020.
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Related to Third Draw Condition

  • Extension Conditions Defined in Section 3.06(a).

  • Second Draw Period is the period commencing on December 1, 2015 and ending on the earlier of (i) January 31, 2016 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on December 1, 2015, an Event of Default has occurred and is continuing.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that, such Loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Conditional Incremental Auction means an Incremental Auction conducted for a Delivery Year if and when necessary to secure commitments of additional capacity to address reliability criteria violations arising from the delay in a Backbone Transmission upgrade that was modeled in the Base Residual Auction for such Delivery Year.

  • Draw Date means, with respect to any Insured Distribution Date, the third Business Day immediately preceding such Insured Distribution Date.

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Draw Period is the period of time from the Effective Date through the earlier to occur of (a) June 30, 2012, or (b) an Event of Default.

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • LC Conditions has the meaning given to such term in Section 2.9.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Second Tranche means the amount of the Financing allocated to the category entitled “Second Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Second Incremental Auction means an Incremental Auction conducted ten months before the Delivery Year to which it relates.

  • Initial Advance means the first Advance made pursuant to Article II.

  • Facility Increase has the meaning provided in Section 2.15(a).

  • Delayed Draw Term Loan Commitment means the commitment of a Lender to make or otherwise fund a Delayed Draw Term Loan and “Delayed Draw Term Loan Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s Delayed Draw Term Loan Commitment, if any, is set forth on Schedule 2.01 or in the applicable Assignment and Assumption, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Delayed Draw Term Loan Commitments as of the Closing Date is $165,000,000.

  • Second Extended Maturity Date has the meaning set forth in Section 2.10.

  • Poor foundation conditions means those areas where features exist which indicate that a natural or man-induced event may result in inadequate foundation support for the structural components of an SWLF unit.

  • Acceptance Condition means the acceptance condition to any Offer;

  • Outside Completion Date shall have the meaning assigned to such term in Section 6.3(d).

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.

  • First draw sample means a one−liter sample of tap water that has been standing in plumbing pipes at least 6 hours and is collected without flushing the tap.

  • Minimum Condition has the meaning set forth in Annex I.