Tranche 2 Draw Conditions definition

Tranche 2 Draw Conditions means (i) Borrower’s achievement of T6M Net Product Revenue of at least $50,000,000 on or prior to June 30, 2023 and (ii) both before and after giving effect to any such Tranche 2 Advance no Default or Event of Default shall have occurred and be continuing.
Sample 1Sample 2Sample 3
Tranche 2 Draw Conditions means (i) Borrower’s achievement of the Performance Milestone and (ii) both before and after giving effect to any such Tranche 2 Advance no Default or Event of Default shall have occurred and be continuing.
Sample 1
Tranche 2 Draw Conditions means (i) Borrower’s achievement of T3M Net Product Revenue of at least $60,000,000 as of the most recent reporting period and (ii) no Default or Event of Default shall have occurred and be continuing.
Sample 1

Examples of Tranche 2 Draw Conditions in a sentence

  • Subject to the terms and conditions of this Agreement and satisfaction of the Tranche 2 Draw Conditions, beginning on the Second Amendment Effective Date and continuing through December 15, 2023, Borrower may request and the Lenders shall severally (and not jointly) make one Term Loan Advance in an aggregate principal amount of Twenty Million Dollars ($20,000,000) (the “Tranche 2 Advance”).

Related to Tranche 2 Draw Conditions

  • 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.