Tranche 4 Advance definition

Tranche 4 Advance means the $12,500,000 funded by certain Purchasers to the Borrowers on the Tranche 4 Funding Date.

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Tranche 4 Advance shall have the meaning assigned to such term in Section 2.2(a).

Tranche 4 Advance has the meaning assigned to such term in Section 2.2(a)(vii).

Examples of Tranche 4 Advance in a sentence

• On the Tranche 4 Funding Date, subject to the terms and conditions herein, (A) the Borrowers and the Company will deliver the Amended and Restated Notes, Tranche 4 Warrants and Tranche 4 Replacement Warrants, respectively, and (B) the Purchasers who participate in the Tranche 4 Advance will pay the Tranche 4 Advance to the Borrowers and the Company by wire transfer to accounts designated by the Borrowers and the Company prior to the Tranche 4 Funding Date.

• If the aggregate Committed Amount (inclusive of the Tranche 4 Advance) exceeds $125,000,000 during the Commitment Period, the Borrowers may reject any portion of the Committed Amount which is in excess of $125,000,000 by notifying the Gotham Purchasers in writing no later than five (5) days after delivery of the Gotham Purchasers’ notice to the Borrowers reflecting a Committed Amount (inclusive of the Tranche 4 Advance) in excess of $125,000,000.

• Prior to the funding of any Tranche 4 Advance, Borrower shall deliver to Agent a calculation detailing the Net Product Revenue Ratio and demonstrating compliance with the Tranche 4 Draw Conditions in form and substance reasonably acceptable to Agent.

• 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.

• With respect to any Tranche 4 Advance, the Borrower shall have paid the Tranche 4 Facility Charge with respect to each such Tranche 4 Advance.

• Each Tranche 1 Advance, Tranche 2 Advance, Tranche 3 Advance and Tranche 4 Advance is referred to herein as a “Term Loan Advance” and collectively, the “Term Loan Advances”.

• If the Tranche 4 Draw Condition occurs, Borrower shall be required to request a Tranche 4 Advance of at least $50,000,000 during the Tranche 4 Draw Period; provided, however, that if the Tranche 5 Draw Condition occurs prior to the end of the Tranche 4 Draw Period, Borrower may request a Tranche 5 Advance of at least $50,000,000 during the Tranche 5 Draw Period in lieu of the Tranche 4 Advance required under this Section 2.2(b).

• When the aggregate amount of the Tranche 4 Advance and Incremental Advances equals or exceeds $100,000,000, the remainder of the Fully Accreted Existing Notes Principal (that is, with respect to the remainder of the Fully Accreted Existing Notes Principal which has not yet been amended under this Section 2.2(f)(iv)(B)), would be amended as set forth in this Section 2.2(f)(iv)(B).

• On each of the dates of the Tranche 1 Advance, the Tranche 2 Advance, the Tranche 3 Advance, and any Tranche 4 Advance, Parent shall deliver, in form and substance reasonably acceptable to Agent, an executed original Warrant for such Advance, and all other documents and instruments reasonably required by Agent to effectuate the transactions contemplated by such Warrant.

More Definitions of Tranche 4 Advance

Tranche 4 Advance means an advance by a Lender pursuant to its Tranche 4 Commitment to the Borrower as part of a Borrowing.

Tranche 4 Advance means the $12,500,000 funded by certain Purchasers to the Borrowers on the Tranche 4 Funding Date. “Tranche 4 Funding Date” means March 27, 2020.

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).