Performance Covenant. Section 7.20(b) of the Loan Agreement is hereby amended in its entirety and replaced with the following: “(b) Performance Covenant. Beginning on such date for which financial statements have been (or are required to be delivered) under Section 7.1(a) for the month ending September 30, 2024 and at all times thereafter, Borrower shall satisfy either of (i) Performance Covenant A or Performance Covenant B, tested at all times, or (ii) Performance Covenant C, tested monthly.”
Appears in 2 contracts
Sources: Loan and Security Agreement (Phathom Pharmaceuticals, Inc.), Loan and Security Agreement (Phathom Pharmaceuticals, Inc.)
Performance Covenant. Section 7.20(b7.20(b)(i) of the Loan Agreement is hereby amended in its entirety and replaced with the following: “:
(bi) Performance Covenant. Beginning on such date for which financial statements have been (or are required to be delivered) under Section 7.1(a) for the month ending September 30, 2024 and at During all times thereaftera Performance Test Period is in effect, Borrower shall satisfy either of (i) Performance Covenant A or Performance Covenant B, tested at all times, or (ii) Performance Covenant C, tested monthly.”
Appears in 1 contract
Sources: Loan and Security Agreement (Phathom Pharmaceuticals, Inc.)