Tranche 2 Advance definition

Tranche 2 Advance means an advance by a Lender pursuant to its Tranche 2 Commitment to the Borrower as part of a Borrowing.
Tranche 2 Advance has the meaning ascribed to such term in Section 2.2(ii);
Tranche 2 Advance means the aggregate amount funded by the Purchasers to the Borrowers on the Tranche 2 Funding Date, which shall equal $25,000,000.

Examples of Tranche 2 Advance in a sentence

  • Each representation and warranty will be deemed to repeat on the date of the Tranche 2 Advance (if made), with reference to the facts and circumstances then subsisting, as if made at such time (including with respect to any Subsidiary of the Company formed after the Effective Date).

  • On the Tranche 2 Funding Date, subject to the terms and conditions herein, (x) the Borrowers and the Company delivered the Tranche 2 Notes with an aggregate principal amount equal to the Tranche 2 Advance, and Tranche 2 Warrants with respect to the Tranche 2 Advance, respectively, and (y) the Purchasers paid the Tranche 2 Advance to the Borrowers and the Company by wire transfer to accounts designated by the Borrowers and Company prior to the Tranche 2 Funding Date.

  • Subject to Section 2.2(b), the principal amount outstanding under the Growth Capital Advances shall accrue interest, which interest shall be payable monthly, in arrears, in accordance with Section 2.2(e) below, at a fixed per annum rate equal to (i) with respect to the Closing Date Advance, 8.55%, and (ii) with respect to the Tranche 2 Advance, the LIBOR Rate, as of the Funding Date of the Tranche 2 Advance, plus the LIBOR Margin.

  • The minimum amount of each Subsequent Tranche 1 Advance and each Tranche 2 Advance shall be Two Million Five Hundred Thousand Dollars ($2,500,000).

  • Interest shall accrue from the date of each Term Loan Tranche 2 Advance at the rate specified in Section 2.3, and shall be payable monthly on the 11th day of each month so long as any Term Loan Tranche 2 Advances are outstanding.


More Definitions of Tranche 2 Advance

Tranche 2 Advance has the meaning given to it in Section 2.3(a)(ii).
Tranche 2 Advance means the $25,000,000 funded by certain Purchasers to the Borrowers on the Tranche 2 Funding Date. “Tranche 2 Funding Date” means July 12, 2019.
Tranche 2 Advance is defined in Section 2.1.1(a)(ii).
Tranche 2 Advance means any Acquisition Facility Advance made based upon a Borrowing Base comprised of 65.01% to 70.00% of Eligible Inventory and 85% of Eligible Receivables and as provided herein.
Tranche 2 Advance an advance made available to a Borrower by a Bank under the Tranche 2 Facility.
Tranche 2 Advance means a Tranche 2A Advance and/or a Tranche 2B Advance made or to be made by the Banks under Tranche 2.
Tranche 2 Advance has the meaning set forth in Section 2.2(a)(ii). “Tranche 2 Draw Period” means the period beginning on the date of Xxxxxxxx’s achievement of the NDA Milestone and continuing through the earlier of (a) ten (10) Business Days following Borrower’s achievement of the NDA Milestone and (b) September 15, 2023. “Tranche 2 Facility Charge” means $62,500 which is payable to Lender in accordance with Section 4.2(g), subject to funding of the Tranche 2 Advance. “Tranche 3 Advance” has the meaning set forth in Section 2.2(a)(iii). “Tranche 3 Draw Period” means the period beginning on the date of Xxxxxxxx’s achievement of the Approval Milestone and continuing through the earlier of (a) ten (10) Business Days following Xxxxxxxx’s achievement of the Approval Milestone and (b) February 15, 2024. “Tranche 3 Facility Charge” means $250,000 which is payable to Lender in accordance with Section 4.2(h), subject to funding of the Tranche 3 Advance. “Tranche 4 Advance” has the meaning set forth in Section 2.2(a)(iv). “Tranche 4 Facility Charge” means $125,000 which is payable to Lender in accordance with Section 4.2(i), subject to funding of the Tranche 4 Advance. “UCC” means the Uniform Commercial Code as the same is, from time to time, in effect in the State of California; provided, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Agent’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time to time, in effect in a jurisdiction other than the State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to time, in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. “Unrestricted Cash” means Cash held by Borrower subject to an Account Control Agreement. “VALOR-CKD Milestone” means Borrower’s VALOR-CKD trial, xxxxxxxxxxxxxx.xxx identifier #NCT03710291, has demonstrated Positive Data where such Positive Data would be expected to support Borrower’s resubmission and subsequent FDA filing of the NDA for TRC101 (a/k/a veverimer) as the next immediate step in clinical development, subject to verification by Agent (including supporting documentation requested by Agent, to the extent such documentation is available to Borrower).