Payment of Funded Indebtedness. The Company shall have delivered to Parent documentation reasonably satisfactory to Parent evidencing the Company’s compliance in full with Section 6.19.

Funded Indebtedness to EBITDA Ratio. The Borrower will not permit its Funded Indebtedness to EBITDA Ratio, on the last day of any fiscal quarter, to exceed 3.5 to 1.0. The Funded Indebtedness to EBITDA Ratio shall be calculated on a trailing twelve (12) month basis and tested on the last day of each fiscal quarter commencing with the calendar quarter ending December 31, 2020.

The New Subsidiary and the Administrative Agent, for the benefit of the Secured Parties, hereby agree as follows:

Consolidated EBITDA for four consecutive fiscal quarters ending on above date (“Subject Period”) (from [Schedule 2]):$

In accordance with Section 6.2.1 of the Agreement [[Merus:Organization]] hereby agrees to make available to Ono an additional ​ FTE over the following ​ months (​ – ​) at the rate of €​ per FTE per year. This will allow [[Merus:Organization]] to support Ono with productions, a swift technology transfer and cover the project management costs. [[Merus:Organization]] aims to transfer the Research Program by the end of ​.

Funded Debt. Create, incur, assume or permit any Funded Debt to remain outstanding, other than Permitted Funded Debt, without Lender’s prior written consent.

Indebtedness. Upon the incurrence or issuance by the Borrower or any of its Subsidiaries (other than a Financing Subsidiary) of any Indebtedness, the Borrower shall prepay an aggregate principal amount of Loans equal to 100% of all Net Cash Proceeds received therefrom no later than the fifth Business Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in [Section 2.09(b)]).

Indebtedness. Create, incur, assume or be or remain liable with respect to any Indebtedness other than Permitted Indebtedness.

Indebtedness. Create, incur, assume or suffer to exist any Indebtedness in excess of the Threshold Amount, in the aggregate, except:

Indebtedness. Borrower shall not create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness, or prepay any Indebtedness or take any actions which impose on Borrower an obligation to prepay any Indebtedness, except for # the conversion of Indebtedness into equity securities and the payment of cash in lieu of fractional shares in connection with such conversion, # purchase money Indebtedness pursuant to its then applicable payment schedule, # prepayment by any Subsidiary of inter-company Indebtedness, # any refinancing of Indebtedness with Permitted Indebtedness or # as otherwise permitted hereunder or approved in writing by Agent.