Tranche 3 Draw Period definition

Tranche 3 Draw Period means the period beginning on achievement of Performance Milestone II and continuing through the earlier of (a) March 15, 2024 and (b) the occurrence of an Event of Default that continues.

Tranche 3 Draw Period means the period beginning on achievement of Performance Milestone II and continuing through the earlier of

Tranche 3 Draw Period is the period of time commencing on the First Amendment Effective Date and continuing through September 30, 2019.”

Examples of Tranche 3 Draw Period in a sentence

• During the Tranche 3 Draw Period, Bank shall make an additional term loan advance available to Borrower of Three Million Dollars ($3,000,000) (the “Tranche 3 Advance”), but only after the occurrence of the Tranche 3 Event.

• Subject to the terms and conditions of this Agreement, Borrower may request, and the Lenders shall severally (and not jointly) make, during the Tranche 3 Draw Period, an additional Term Loan Advance in an aggregate principal amount equal to Five Million Dollars ($5,000,000)) (such Term Loan Advance, the “Tranche 3 Advance”).

• Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Tranche 3 Draw Period, Bank shall make term loan advances (each, a “Tranche 3 Advance” and collectively, the “Tranche 3 Advances”) available to Borrower in an aggregate original principal amount not to exceed Three Million Dollars ($3,000,000.00).

More Definitions of Tranche 3 Draw Period

Tranche 3 Draw Period is the period of time commencing on the date of a Tranche 2 Event and continuing through September 30, 2019.

Tranche 3 Draw Period means the period beginning on the Third Amendment Closing Date and ending on December 31, 2025, and subject to approval by the Lenders’ investment committee in its sole and unfettered discretion.

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).