Tranche 2 Advances definition
Examples of Tranche 2 Advances in a sentence
Notwithstanding anything in this Agreement to the contrary, the Borrower shall not optionally prepay any Tranche 1 Advances or Tranche 2 Advances while any Tranche 3 Advances are outstanding.
On the earlier of the Term Loan Maturity Date, the prepayment of all Credit Extensions, or the date the Obligations become due and payable, a Final Payment Fee equal to (i) One Hundred Fifty Thousand Dollars ($150,000) plus (ii) an additional amount equal to 1.00% of the aggregate amount of Term Loan Tranche 2 Advances made during the term of this Agreement.
Any Growth Capital Tranche 2 Advances that are outstanding on the Growth Capital Tranche 2 End Date shall be payable in thirty (30) equal monthly installments of principal, plus all accrued interest, beginning on May 10, 2011 and continuing on the same day of each month thereafter through the Growth Capital Tranche 2 Maturity Date, at which time all amounts owing under this Section 2.3 shall be immediately due and payable.
Term Loan Tranche 2 Advances, once repaid, may not be reborrowed.
Notwithstanding anything in this Agreement to the contrary, the Borrower shall not optionally prepay any Tranche 1 Advances, Tranche 2 Advances or Tranche 3 Advances while any Tranche 4 Advances are outstanding.
Growth Capital Tranche 2 Advances, once repaid, may not be reborrowed.
Subject to and upon the terms and conditions of this Agreement, at any time from the date on which Borrower achieves the Term Loan Tranche 2 Milestone through the Term Loan ▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ Date, Bank agrees to make one (1) or more Term Loan Tranche 2 Advances to Borrower in an aggregate amount not to exceed the Term Loan Tranche 2.
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.
The obligations of the Facility Agent and each Bank in respect of each Tranche 2 Utilisation are subject to the Facility Agent being satisfied that at the relevant date of the Tranche 2 Utilisation Notice the amount of the Equity Contribution is at least 50% of the aggregate of the amount of Tranche 2 Advances outstanding and the amount requested in the Tranche 2 Utilisation Notice.
Borrower may prepay any Term Loan Tranche 2 Advances without penalty or premium.