Example ContractsClausesavailabilityVariants
Availability
Availability contract clause examples

Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, Lenders agree to make term loan advances available to Borrower from time to time in three (3) tranches: “Tranche A”, “Tranche B”, and “Tranche C”. Subject to the terms and conditions of this Agreement, on or about [[SVB:Organization]], the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower in an original principal amount equal to Fifteen Million Dollars ($15,000,000) according to each Lender’s Initial Tranche A Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Initial Tranche A Term Loan Advance”). Thereafter, subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Tranche A Draw Period, the Lenders, severally and not jointly, shall make one (1) additional term loan advance to Borrower in an original principal amount of Fifteen Million Dollars ($15,000,000) according to each Lender’s Subsequent Tranche A Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Subsequent Tranche A Term Loan Advance” and together with the Initial Tranche A Term Loan Advance, the “Tranche A Term Loan Advances”). Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Tranche B Draw Period, if Borrower can satisfy the Tranche B Draw Condition on the date of its request for a term loan advance (and the applicable Funding Date), the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower in an original principal amount of Ten Million Dollars ($10,000,000) according to each Lender’s Tranche B Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Tranche B Term Loan Advance”). Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Tranche C Draw Period, if Borrower can satisfy the Tranche C Draw Conditions on the date of its request for a term loan advance (and the applicable Funding Date), the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower in an original principal amount of Ten Million Dollars ($10,000,000) according to each Lender’s Tranche C Term Loan Advance Commitment as set forth on [Schedule II] hereto (the “Tranche C Term Loan Advance”). The Tranche A Term Loan Advances, Tranche B Term Loan Advance, and Tranche C Term Loan Advance are hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”. Borrower may request Term Loan Advances as set forth on [Schedule I] hereto. The aggregate principal amount of the Term Loan Advances made by the Lenders to Borrower shall not, at any time, exceed the Term Loan Availability Amount. After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed.

Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, Lenders agree to make term loan advances available to Borrower from time to time in three (3) tranches: “Tranche A”, “Tranche B”, and “Tranche C”. On or about the Effective Date, the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower under Tranche A in an original principal amount equal to Thirty Million Dollars ($30,000,000) according to each Lender’s Initial Tranche A Term Loan Advance Commitment as set forth on [Schedule 1.1] hereto (the “Initial Tranche A Term Loan Advance”). Thereafter, from the Effective Date through December 31, 2021, Borrower may request and the Lenders, severally and not jointly, shall make one (1) additional term loan advance available to Borrower under Tranche A in an original principal amount equal to Ten Million Dollars ($10,000,000) according to each Lender’s Subsequent Tranche A Term Loan Advance Commitment as set forth on [Schedule 1.1] hereto (the “Subsequent Tranche A Term Loan Advance” and together with the Initial Tranche A Term Loan Advance, the “Tranche A Term Loan Advances”). Thereafter, during the Tranche B Draw Period, if Borrower can satisfy the Draw Condition on the date of its request for a term loan advance (and the applicable Funding Date), Borrower may request, and the Lenders, severally and not jointly, shall make one (1) term loan advance available to Borrower under Tranche B in an original principal amount equal to Twenty Million Dollars ($20,000,000) according to each Lender’s Tranche B Term Loan Advance Commitment as set forth on [Schedule 1.1] hereto (the “Tranche B Term Loan Advance”). Thereafter, during the Tranche C Draw Period, if Borrower can satisfy the Draw Condition on the date of its request for a term loan advance (and the applicable Funding Date), Borrower may request, and the Lenders, severally and not jointly, shall make one (1) term loan advance available to Borrower under Tranche C in an original principal amount equal to Twenty Million Dollars ($20,000,000) according to each Lender’s Tranche C Term Loan Advance Commitment as set forth on [Schedule 1.1] hereto (the “Tranche C Term Loan Advance” and together with the Tranche A Term Loan Advances and the Tranche B Term Loan Advance, each a “Term Loan Advance” and collectively, the “Term Loan Advances”). After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed.

Availability. Subject to the terms and conditions of this Agreement, the Lenders, severally and not jointly, agree to make growth capital advances to Borrower from time to time 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 making thereof have been met, the Lenders shall make one (1) growth capital advance under Tranche A to Borrower, in an amount equal to Seven Million Five Hundred Thousand Dollars ($7,500,000) (the “Tranche A Growth Capital Advance”) according to each Lender’s Tranche A Loan Advance Commitment as set forth on [Schedule 1.1] attached hereto, which shall be used to refinance all obligations owing from Borrower to Bank under the SVB Loan Agreement, and for working capital purposes. During the Tranche B Draw Period, Borrower may request and the Lenders shall make one (1) growth capital advance under Tranche B to Borrower, in an amount equal to Two Million Five Hundred Thousand Dollars ($2,500,000) (the “Tranche B Growth Capital Advance”) according to each Lender’s Tranche B Loan Advance Commitment as set forth on [Schedule 1.1] attached hereto. If Borrower achieves the Tranche C Milestone on or prior to December 31, 2019, Borrower shall, on or prior to the date that is ten (10) days after Borrower achieves the Tranche C Milestone, request and, provided no Event of Default has occurred and is continuing hereunder, the Lenders shall make one (1) growth capital advance under Tranche C to Borrower, in an 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”) according to each Lender’s Tranche C Loan Advance Commitment as set forth on [Schedule 1.1] attached hereto. The aggregate outstanding amount of the Growth Capital Advances shall not, at any time, exceed the Growth Capital Line. After repayment, no Growth Capital Advance (or any portion thereof) may be reborrowed.

Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, the Lenders, severally and not jointly, shall make one (1) term loan advance to Borrower on or about the Effective Date in an original principal amount of Fifteen Million Dollars ($15,000,000.00) according to each Lender’s Term A Loan Advance Commitment as set forth on [Schedule 1.1] hereto (the “Term A Loan Advance”). Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Draw Period, the Lenders, severally and not jointly, shall make one (1) term loan advance available to Borrower in an original principal amount of Ten Million Dollars ($10,000,000.00) according to each Lender’s Term A Loan Advance Commitment as set forth on [Schedule 1.1] hereto (the “Term B Loan Advance”). The Term A Loan Advance and the Term B Loan Advance are hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”. After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed.

“ # Subject to the terms and conditions of this Agreement, Bank agrees to make term loans to the Borrower in three tranches. During the Tranche 1 Draw Period, Borrower may request term loan advances up to an aggregate of Seven Million Dollars ($7,000,000) in minimum increments of One Million Dollars ($1,000,000) (all such advances shall be referred to in the aggregate herein as the “Tranche 1 Advance”). On or about the First Amendment Effective Date, Bank shall make an additional term loan advance available to Borrower of Five Million Dollars ($5,000,000) (the “Tranche 2 Advance”). During the Tranche 3 Draw Period, Bank shall make an additional term loan advance available to Borrower of Three Million Dollars ($3,000,000) (the “Tranche 3 Advance”), but only after the occurrence of the Tranche 3 Event. The Tranche 1 Advance, Tranche 2 Advance, and Tranche 3 Advance are each hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”. The aggregate amount of Term Loan Advances available hereunder is Fifteen Million Dollars ($15,000,000). After repayment, no Term Loan Advance (or any portion thereof) may be reborrowed.”

Advances. Subject to the terms and conditions of this Agreement, the Lenders will severally (and not jointly) make in an amount not to exceed its respective Term Commitment, and Borrower agrees to draw, a Term Loan Advance of Twenty-Two Million Five Hundred Thousand Dollars ($22,500,000) on the Closing Date (the “Tranche 1 Advance”). Subject to the terms and conditions of this Agreement, and conditioned on approval by the Lenders’ investment committee in its sole and unfettered discretion, on or before December 15, 2021, Borrower may request an additional Term Loan Advance in a principal amount up to Twelve Million Five Hundred Thousand Dollars ($12,500,000) (the “Tranche 3 Advance”). The aggregate outstanding Term Loan Advances may be up to the Maximum Term Loan Amount. For clarity, no Tranche 2 Advances (as defined in the Agreement immediately prior to the Second Amendment Effective Date) have been made, and no Tranche 2 Advances shall be available on and after the Second Amendment Effective Date.

“(a) Advances. Subject to the terms and conditions of this Agreement, the Lenders will severally (and not jointly) make in an amount not to exceed its respective Term Commitment, and Borrower agrees to draw, a Term Loan Advance of Twenty-Two Million Five Hundred Thousand Dollars ($22,500,000) on the Closing Date (the “Tranche 1 Advance”). Subject to the terms and conditions of this Agreement, beginning on the Third Amendment Effective Date and continuing through June 1, 2021, Borrower may request, and the Lenders shall severally (and not jointly) make, an additional Term Loan Advance in a principal amount of Five Million Dollars ($5,000,000) (the “Tranche 2 Advance”). Subject to the terms and conditions of this Agreement, and conditioned on approval by the Lenders’ investment committee in its sole and unfettered discretion, on or before December 15, 2021, Borrower may request an additional Term Loan Advance in a principal amount up to Twelve Million Five Hundred Thousand Dollars ($12,500,000) (the “Tranche 3 Advance”). The aggregate outstanding Term Loan Advances may be up to the Maximum Term Loan Amount.

Subject to the terms and conditions of this Agreement, during the Tranche 2-B Draw Period, Borrower may request and the Lenders shall severally (and not jointly) make, in an amount not to exceed its respective Term Commitment, an additional Term Loan Advance in an aggregate principal amount of Fifteen Million Dollars ($15,000,000) (the “Tranche 2-B Advance” and together with the Tranche 2-A Advance, each a “Tranche 2 Advance”).

Availability. Subject to the terms and conditions of this Agreement, upon Borrower’s request, during the Draw Period, Bank shall make advances (each, a “Term B Loan Advance” and collectively, the “Term B Loan Advances”) available to Borrower in an aggregate original principal amount not to exceed the Term B Loan Commitment Amount. Each Term B Loan Advance must be in an amount equal to at least Three Million Dollars ($3,000,000.00), or if there is a lesser amount remaining available under the Term B Loan Commitment Amount, the entire amount remaining available under the Term B Loan Commitment Amount. After repayment, no Term B Loan Advance (or any portion thereof) may be reborrowed. The Term A Loan and Term B Loan Advances, shall hereinafter each be referred to singly as the “Term Loan” and collectively as the “Term Loans.”

Second Draw Period, the Lenders, severally and not jointly, shall make one (1[[SVB:Organization]] term loan advance available to Borrower in an original principal amount of Ten Million Dollars ($10,000,000.00[[SVB:Organization]] according to each Lender’s Term Loan Commitment as set forth on [Schedule 1] hereto (the “Term [[Unknown Identifier]] Loan Advance”, together with the Term [[Unknown Identifier]] Loan Advance, the “Term B Loan Advances”). The Term A Loan Advance and the Term B Loan Advances are hereinafter referred to singly as a “Term Loan Advance” and collectively as the “Term Loan Advances”. After repayment, no Term Loan Advance (or any portion thereof[[SVB:Organization]] may be reborrowed.”

Tranche III Term Loan Advance. Subject to the terms and conditions of this Agreement, Lender will severally (and not jointly) make a Term Loan Advance in a principal amount not to exceed its respective Tranche III Term Commitment, and Borrowers agree to draw, a Term Loan Advance of $20,000,000 on or about the Second Amendment Effective Date but no later than May 17, 2019 (the “Tranche III Advance”).

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.