Availability. Bank shall make a growth capital term loan available to Borrower in two (2) tranches (Tranche A and Tranche B; each advance under Tranche A and Tranche B hereinafter referred to individually as a Growth Capital Term Loan Advance and collectively as Growth Capital Term Loan Advances) not exceeding the Growth Capital Term Loan Amount. Subject to the satisfaction of the terms and conditions of this Agreement, # Tranche A will be available during the Tranche A Draw Period in multiple advances in the aggregate original principal amount not to exceed Seven Million Dollars ($7,000,000) (each advance under Tranche A hereinafter referred to individually as a Tranche A Advance and collectively as the Tranche A Advances), and # provided that Borrower has achieved the Tranche B Advance Milestone, Tranche B will be available during the Tranche B Draw Period in multiple advances in the aggregate original principal amount not to exceed Three Million Dollars ($3,000,000) (each advance under Tranche B hereinafter referred to individually as a Tranche B Advance and collectively as the Tranche B Advances). Each Growth Capital Term Loan Advance must be in an amount at least equal to the lesser of One Million Five Hundred Thousand Dollars ($1,500,000) or the amount that has not yet been drawn under Tranche A or Tranche B, as applicable. After repayment, no Growth Capital Term Loan Advance may be re-borrowed.
Availability. Bank shall make a growth capital term loan available to Borrower in two (2) tranches (Tranche A and Tranche B; each advance under Tranche A and Tranche B hereinafter referred to individually as a Growth Capital Term Loan Advance and collectively as Growth Capital Term Loan Advances) not exceeding the Growth Capital Term Loan Amount. Subject to the satisfaction of the terms and conditions of this Agreement, # Tranche A will be available duringBank agrees to make Growth Capital Advances to Co-Borrowers in three (3) tranches: Tranche A, Tranche B and Tranche C. On the Tranche A Draw Period in multiple advances inEffective Date, or as soon thereafter as all conditions precedent to the aggregate original principal amount not to exceed Seven Million Dollars ($7,000,000) (each advanceinitial Credit Extension have been satisfied, Bank shall make a Growth Capital Advance under Tranche A hereinafter referred to individually asCo-Borrowers in a principal amount equal to Ten Million Dollars ($10,000,000) (the Tranche A Growth Capital Advance), which shall be used to refinance all Obligations owing from Co-Borrowers to Bank pursuant to the Original Agreement and collectively as the Tranche A Advances), and # provided that Borrower has achieved the Tranche B Advance Milestone, Tranche B will be availablefor working capital. Thereafter, during the Tranche B Draw PeriodPeriod, Co-Borrower may request one (1) Growth Capital Advance under Tranche B, in multiple advances in the aggregate originala principal amount notequal to exceed ThreeFive Million Dollars ($3,5,000,000) (each advance(the Tranche B Growth Capital Advance). During the Tranche C Draw Period, Co-Borrowers may request one (1) Growth Capital Advances under Tranche B hereinafter referredC, in a principal amount equal to individually as aFive Million Dollars ($5,000,000) (the Tranche BC Growth Capital Advance and collectively astogether with the TrancheTranche A Growth Capital Advance and the Tranche B Growth Capital Advance, each a Growth Capital Advance and collectively, the Growth Capital Advances). EachThe aggregate outstanding amount of the Growth Capital Term Loan Advance must be in an amount at least equal toAdvances shall not exceed the lesser of One Million Five Hundred Thousand Dollars ($1,500,000) or the amount that has not yet been drawn under Tranche A or Tranche B, as applicable. After repayment, no Growth Capital Term Loan Advance may be re-borrowed.Line.
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