Examples of Tranche Two Loans in a sentence
The Credit Agreement provided the Company with $10 million of term loans (the “Tranche One Loans”) and $25 million of revolving term loans (the Tranche Two Loans together with the Tranche One Loans, the “Loans”).
The proceeds of the Tranche Two Loans shall be used to (i) repurchase, redeem, acquire or otherwise retire all amounts outstanding on the Funding Date for the Tranche Two Loans under the Convertible Notes and the Convertible Notes Indenture (including all out-of-pocket fees, costs and expenses relating thereto), and (ii) for general corporate purposes in compliance with the Loan Documents and Applicable Law.
Each prepayment of the outstanding Tranche One Loans and/or the Tranche Two Loans as determined by the Borrower pursuant to Section 2.4.3 shall be applied to the installments of principal on such Loan in the inverse order of maturity.
The Borrower shall have delivered the Notes in respect of the Tranche One Loans, the Tranche Two Loans, the Tranche Three Loans or the Tranche Four Loans, as applicable, in form and substance reasonably satisfactory to the Lenders and the Agents (as to their rights, duties and obligations), duly executed by the Borrower, and dated as of the applicable Funding Date.
With respect to the Tranche Two Loans, (i) the Tranche One Loans shall have been funded, and (ii) receipt by Agents and the Lenders of evidence reasonably satisfactory in all respects to the Lenders of (x) the Borrower’s generation in the most recent twelve calendar month period ending at least 30 days prior to the Funding Date of the Tranche Two Loans of at least $75,000,000 of Net Revenues, (y) the submission of the Egrifta Human Factors Study to the FDA on or before June 30, 2023.
With respect to the Tranche Three Loans, (i) the Tranche One Loans and Tranche Two Loans shall have been funded, and (ii) receipt by Agents and the Lenders of evidence reasonably satisfactory in all respects to the Lenders of (1) the Borrower’s generation in the most recent twelve calendar month period ending at least 30 days prior to the Funding Date of the Tranche Three Loans of at least $90,000,000 of Net Revenues and (2) the Borrower’s receipt of the Tesamorelin Approval.
Subject to the terms and conditions set forth herein, each Tranche Two Lender agrees to make Tranche Two Loans denominated in US Dollars, Sterling, Euro or Canadian Dollars to the Borrowers from time to time during the Availability Period in an aggregate principal amount at any time outstanding that will not result in (A) the aggregate Tranche Two Credit Exposures exceeding the aggregate Tranche Two Commitments or (B) the Tranche Two Credit Exposure of any Lender exceeding its Tranche Two Commitment.
Each prepayment of the outstanding Loans pursuant to Section 2.4.2 shall be applied first to the installments of principal on the Tranche One Loans in the inverse order of maturity and then to the installments of principal on the Tranche Two Loans in the inverse order of maturity; provided that prepayments pursuant to Section 2.4.2(c) shall be applied only to the installments of principal on the Tranche One Loans in the inverse order of maturity.
The Tranche Two Loans are available for one or more fundings during the Availability Period.
Each prepayment of the outstanding Loans pursuant to Section 2.4.2 shall be applied first to the installments of principal on the Tranche One Loans in the inverse order of maturity and then to the installments of principal on the Tranche Two Loans in the inverse order of maturity.