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. Subject to the terms and conditions of this Agreement, Bank agrees to make Growth Capital Advances to Co-Borrowers in three (3) tranches: Tranche A, Tranche B and Tranche C. On the Effective Date, or as soon thereafter as all conditions precedent to the initial Credit Extension have been satisfied, Bank shall make a Growth Capital Advance under Tranche A to Co-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 for working capital. 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 C Draw Period, Co-Borrowers may request one (1) Growth Capital Advances under Tranche C, in a principal amount equal to Five Million Dollars ($5,000,000) (the Tranche C Growth Capital Advance and together with the Tranche A Growth Capital Advance and the Tranche B Growth Capital Advance, each a Growth Capital Advance and collectively, the Growth Capital Advances). The aggregate outstanding amount of the Growth Capital Advances shall not exceed the Growth Capital Line.
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