Tranche B Draw Period definition

Tranche B Draw Period means the period commencing on the date on which Borrower achieves the Performance Milestone and ending on the earlier to occur of (i) December 31, 2023 or (ii) at the option of Bank, the date on which an Event of Default occurs hereunder.

Tranche B Draw Period is the period of time from the Effective Date through the earlier to occur of (a) May 31, 2016 or (b) the occurrence and continuance of an Event of Default.

Tranche B Draw Period is the period of time commencing on October 1, 2018 and continuing through the earlier to occur of (a) December 31, 2019 and (b) the occurrence and continuance of an Event of Default.

Examples of Tranche B Draw Period in a sentence

• Thereafter, during the Tranche B Draw Period, Co-Borrower may request one (1) Growth Capital Advance under Tranche B, in a principal amount equal to Five Million Dollars ($5,000,000) (the “Tranche B Growth Capital Advance”).

• During the Tranche B Draw Period, Borrower may request a Growth Capital Advance under Tranche B, in an amount not to exceed Two Million Dollars ($2,000,000) (the “Tranche B Growth Capital Advance”, and together with the Tranche A Growth Capital Advance, each a “Growth Capital Advance” and collectively, the “Growth Capital Advances”).

• During the Tranche B Draw Period, Borrower may request and Bank shall make one (1) Growth Capital Advance under Tranche B, in an amount equal to Two Million Dollars ($2,000,000) (the “Tranche B Growth Capital Advance”).

• Bank shall make one (1) or more term loans available to Borrowers in an amount not to exceed the Tranche B Term Loan Amount (each a “Tranche B Term Loan”, and together with the Tranche A Term Loan, each a “Term Loan” and collectively, the “Term Loans”) during the Tranche B Draw Period and subject to the satisfaction of the terms and conditions of this Agreement.

• During the Tranche B Draw Period, Borrower may request and Bank shall make growth capital advances to Borrower under Tranche B, in an aggregate original principal amount not to exceed Five Million Dollars ($5,000,000) (the “Growth Capital Line B Tranche B Advances”).

More Definitions of Tranche B Draw Period

Tranche B Draw Period means the period from the date on which the Initial APOD Xxxxx each become Producing APOD Xxxxx to the date that is eighteen (18) months after the Closing Date.

Tranche B Draw Period is, for the Tranche B Advances, the period of time from the first (1st) Business Day after Borrower achieves the Tranche B Advance Milestone through the earlier to occur of (a) September 30, 2014 or (b) an Event of Default. Notwithstanding the foregoing, provided that Bank has received evidence satisfactory to Bank in its sole discretion that a Qualifying Equity Round has closed prior to September 30, 2014, then the Tranche B Draw Period shall be automatically extended through the earlier to occur of (x) January 31, 2015 or (y) an Event of Default.

Tranche B Draw Period is set forth on Schedule I hereto.

Tranche B Draw Period is the period of time from the date Co-Borrowers achieve the Revenue Milestone through January 31, 2018; provided that the Tranche B Draw Period shall only begin so long as no Event of Default has occurred and is continuing hereunder.

Tranche B Draw Period means the period of time commencing upon the Closing Date and continuing through December 15, 2023.

Tranche B Draw Period is the period of time from the date that Borrower receives Positive Data Results through the earlier to occur of (a) December 31, 2014 or (b) the occurrence and continuance of an Event of Default.

Tranche B Draw Period is the period commencing on the Positive FDA Review Date and ending on the earlier of (i) June 30, 2015 and (ii) the occurrence of an Event of Default; provided, however, that the Tranche B Draw Period shall not commence if on the date of the occurrence of the Positive FDA Review Date an Event of Default has occurred and is continuing.