Example ContractsClausesAdvance Payment
Advance Payment
Advance Payment contract clause examples

Advance Payment. Within [ * ] days of the Effective Date, Astellas shall pay to [[Cytokinetics:Organization]] an amount equal to [[Cytokinetics:Organization]]’ estimated Research Plan Costs (as set forth in the initial Research Budget) for the then-current calendar quarter. Thereafter, during the Research Term, [[Cytokinetics:Organization]] shall submit to Astellas an invoice setting forth [[Cytokinetics:Organization]]’ estimated Research Plan Costs based on the then-current Research Budget for the current calendar quarter, no later than [ * ] Business Days following the first day of such calendar quarter (the “Research Advance Invoice”).

Advance Payment. For each calendar quarter in which [[Cytokinetics:Organization]] is anticipated to conduct Development activities under the Development Plan (other than [ * ] Development), [[Cytokinetics:Organization]] shall submit to Astellas an invoice setting forth [[Cytokinetics:Organization]]’ estimated Development Costs based on the then-current [[Cytokinetics:Organization]] Development Budget for the current calendar quarter, no later than [ * ] Business Days following the first day of such calendar quarter (the “Development Advance Invoice”).

Advance Payment. For each calendar quarter in which [ * ] Development Work for such [ * ] Activator in such Indication under the Development Plan, [ * ] shall submit to [ * ] an invoice setting forth [ * ] Costs for such [ * ] Activator in such Indication based on the then-current [ * ] Budget for the current calendar quarter, no later than [ * ] Business Days following the first day of such calendar quarter (the “[ * ] Advance Invoice”).

Advance Payment. Notwithstanding any other provision of this Agreement, if at any time Catalent determines that Client’s credit is impaired, Catalent may require payment in advance before performing any further services or making any further shipment of Product. If Client shall fail, within a reasonable time, to make such payment in advance, or if Client shall fail to make any payment when due, Catalent shall have the right, at its option, to suspend any further performance hereunder until such default is corrected, without thereby releasing Client from its obligations under this Agreement.

Advance Payment. Landlord may, at Landlord’s option, estimate the current Real Property Taxes, and require that Tenant’s Pro Rata Share of the Real Property Taxes be paid in advance to Landlord by Tenant, either: # in a lump sum amount equal to Pro Rata Share of the installment due, at least twenty (20) days prior to the applicable delinquency date, or # monthly in advance with the payment of the Base Rent. If Landlord elects to require payment monthly in advance, the monthly payment shall be an amount equal to the amount of the estimated amount of taxes divided by the number of months remaining before the month in which said installment becomes delinquent. When the actual amount of the applicable tax bill is known, the amount of such equal monthly advance payments shall be adjusted as required to provide the funds needed to pay the applicable taxes. If the amount collected by Landlord is insufficient to pay Tenant’s Pro Rata Share of such Real Property Taxes when due, Tenant shall pay Landlord, upon demand, such additional sums as are necessary to pay such obligations. All moneys paid to Landlord under this Section may be intermingled with other moneys of Landlord and shall not bear interest. In the event of a Breach by Tenant in the performance of its obligations under this Lease, then any balance of funds paid to Landlord under the provisions of this Section may at the option of Landlord, be treated as an additional Security Deposit.

Advance. Pursuant(i)Prior to the Original Loan and Security Agreement, the Lenders party thereto extended the “2014 Term Loan Advance” and the “2016 Term Loan Advances” (each under and as defined in the Original Loan and Security Agreement) (the “Original Term Loans”) to Borrower in the original aggregate principal amount of $20,000,000. Borrower acknowledges and agrees that, as of the Closing Date, $20,000,000 of the principal amount of the Original Term Loans remainseffectiveness of the First Amendment and the refinancing of the Existing Term Loan Advances as contemplated herein, Lender had extended certain term loans to Borrower, of which the Existing Term Loan Advances remained outstanding. Agent, Lender and Borrower hereby agree that, from and after the First Amendment Closing Date, such entire outstanding principal balance of the Existing Term Loan Advances shall for all purposes hereunder be deemed to constitute and be referred to, and hereby is converted into, the 2020 Term A Loan AdvanceAdvances hereunder, without constituting a novation. Such conversion of the OriginalExisting Term LoansLoan Advances into the 2020 Term A Loan AdvanceAdvances hereunder shall be deemed an Advance on the First Amendment Closing Date for purposes of this Agreement. The aggregate outstanding Advances shall not exceed the Maximum Term Loan Amount. Subject to the terms and conditions of this Agreement, and the First Amendment, in furtherance of the foregoing, Borrower shall submit a written request in accordance with this Agreement for, and each Lender will severally (and not jointly) make, a single Advance on the First Amendment Closing Date in an amount not to exceed its respective 2020 Term A Commitment, and Borrower agrees to draw, the Term Loan Advance on the Closing Date (each a “2020 Term A Loan Advance”, and collectively, the “2020 Term A Loan Advances”). For the avoidance of doubt, from and after the First Amendment Closing Date (and after

Advance Funding. Unless the Administrative Agent shall have been notified by any Lender prior to the applicable time in accordance with Section 2.06(a[[SunTrustTruist Bank:Organization]] on the date of Borrowing that such Lender does not intend to make available to the Administrative Agent its portion of the Borrowing or Borrowings to be made on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on such date of Borrowing, and the Administrative Agent, in reliance upon such assumption, may (in its sole discretion and without any obligation to do so[[SunTrustTruist Bank:Organization]] make available to the Borrowers a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender and the Administrative Agent has made the same available to the Borrowers, the Administrative Agent shall be entitled to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Parent Borrower, and the Borrowers shall promptly pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from such Lender or the Borrowers, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Administrative Agent to the Borrowers to the date such corresponding amount is recovered by the Administrative Agent at a rate per annum equal to # if paid by such Lender, the overnight Federal Funds Rate or # if paid by the Borrowers, the then applicable rate of interest, calculated in accordance with [Section 2.09], for the respective Loans (but without any requirement to pay any amounts in respect thereof pursuant to Section 3.04[[SunTrustTruist Bank:Organization]]. If the Borrowers and such Lender shall each pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrowers the amount of such interest paid by the Borrowers for such period. Any payment by the Borrowers shall be without prejudice to any claim the Borrowers may have against a Lender that shall have failed to make such payment to the Administrative Agent.

Advance Request. To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least three (3) Business Days before the Advance Date other than the Closing Date, which shall be at least one (1) Business Day) to Agent. The Lenders shall fund the Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent set forth in Section 4 and applicable to such Term Loan Advance is satisfied as of the requested Advance Date.

Initial Advance. On or prior to the Closing Date, Borrower shall have delivered to Agent the following:

Advance Procedures. A request for advance made by telephone must be promptly confirmed in writing by such method as the Bank may require. Each Borrower authorizes the Bank to accept telephonic requests for advances, and the Bank shall be entitled to rely upon the authority of the CFO, VP - Finance, Controller, General Counsel, or Treasury Manager providing such instructions. Each Borrower hereby indemnifies and holds the Bank harmless from and against any and all damages, losses, liabilities, costs and expenses (including reasonable attorneys' fees and expenses) which may arise or be created by the acceptance of such telephone requests or making such advances. The Bank will enter on its books and records, which entry when made will be presumed correct, the date and amount of each advance, the interest rate and interest period applicable thereto, as well as the date and amount of each payment; provided, however, that failure to make any such entry shall in no way detract from Borrowers' obligations under this Note.

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