Examples of Tranche Two Term Loan Advance in a sentence
Thus, the clay fraction of a saprolite or a soil is a mixture of multiple clay minerals, among which kaolinite and montmorillonite are the dominant species with specific sorptive capacities (Wilson 1999, 2004).
For the avoidance of doubt, if neither the Tranche Two Term Loan Advance nor the Tranche Three Term Loan Advance are funded, then Borrower is not required to comply with the financial covenant set forth in this Section 6.7(a).
In the event that Borrower fails to comply with the Milestone and Partnership Covenant, Bank shall apply the funds in the Pledged Account to the outstanding principal balance of the Tranche Two Term Loan Advance plus all accrued and unpaid interest thereon and the Term Loan Final Payment (the “Mandatory Tranche Two Prepayment”).
Another important tool is the simple messenger services used among the participants.
Notwithstanding Section 2.1.2 of the Loan Agreement to the contrary, the Tranche Two Term Loan Advance in the aggregate principal amount of up to Two Million Dollars ($2,000,000) is available to Borrower from the date hereof upon Bank’s receipt of evidence satisfactory to Bank in its sole and absolute discretion that Borrower has received aggregate Gross Proceeds of at least Three Million Dollars ($3,000,000).
After repayment, no Tranche Two Term Loan Advance may be re-borrowed.
Each Tranche Two Term Loan Advance must be in an amount equal to at least Five Hundred Thousand Dollars ($500,000).
Upon the making (if any) of the Tranche Two Term Loan Advance and the Tranche Three Term Loan Advance to the Company, this Warrant automatically shall become exercisable for such number of additional shares of Common Stock as shall equal (i) (A) 0.0150, multiplied by (B) the amount of such Tranche Two Term Loan Advance or Tranche Three Term Loan Advance, as applicable, divided by (ii) the Warrant Price and rounded down to the nearest whole share.
Borrower acknowledges and agrees that Bank is under no obligation to make the Tranche Two Term Loan Advance available to Borrower and such Tranche Two will be subject to separate Bank credit approval to be determined by Bank (after the Effective Date) in its sole discretion.