Tranche 2 Advance definition

Tranche 2 Advance shall have the meaning assigned to such term in Section 2.2(a).

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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 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

• 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.

• For the avoidance of doubt, each Advance will be available on the terms stated herein, without regard to the drawdown of any of the Tranche 2 Advance, Tranche 3 Advance, Tranche 4 Advance, Tranche 5 Advance and Tranche 6 Advance.

• Thereafter, Borrower shall make twenty-seven (27) equal payments of principal and interest (payable in arrears) on each Payment Date until the Tranche 2 Advance is paid in full (the “Tranche 2 Amortization Period”).

• If the Performance Milestone is achieved, for the Tranche 1 Advance and Tranche 2 Advance, the Tranche 1 Additional Interest Only Period and the Tranche 2 Interest Only Period shall be extended to eighteen (18) monthly payments, and the Tranche 1 Amortization Period and the Tranche 2 Amortization Period shall be shortened to twenty-four (24) equal payments of principal and interest.

• If a Tranche 2 Advance or Documentary Credit is to be denominated or issued in an Optional Currency, the Facility Agent shall promptly notify the relevant Borrower and the Banks of the applicable Agent's Spot Rate of Exchange, the Optional Currency amount and the Sterling Equivalent of such Tranche 2 Advance as soon as practicable after they are ascertained.

More Definitions of Tranche 2 Advance

Tranche 2 Advance has the meaning set forth in Section 2.2(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 means a Tranche 2A Advance or a Tranche 2B Advance.

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 has the meaning set forth in Section 2.2(a)(ii). “Tranche 2 Draw Period” means the period beginning on the date of ▇▇▇▇▇▇▇▇’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 ▇▇▇▇▇▇▇▇’s achievement of the Approval Milestone and continuing through the earlier of (a) ten (10) Business Days following ▇▇▇▇▇▇▇▇’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, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ 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).

Tranche 2 Advance an advance made available to a Borrower by a Bank under the Tranche 2 Facility.