Common use of Principal and Interest Payments Clause in Contracts

Principal and Interest Payments. For each Growth Capital Advance outstanding as of the last day of the Growth Capital Interest-Only Period, Borrower shall make twenty-four (24) consecutive equal monthly payments of principal and accrued but unpaid interest commencing on the first (1st) Business Day of the first (1st) month after the Growth Capital Interest-Only Period (the “Growth Capital Conversion Date”), in amounts that would fully amortize the applicable Growth Capital Advance, as of the Growth Capital Conversion Date, over the Growth Capital Repayment Period. The Growth Capital Final Payment and all unpaid principal and accrued and unpaid interest on each Growth Capital Advance are due and payable in full on the Growth Capital Maturity Date.

Appears in 2 contracts

Sources: Loan and Security Agreement (Tracon Pharmaceuticals, Inc.), Loan and Security Agreement (Tracon Pharmaceuticals Inc)

Principal and Interest Payments. For each Growth Capital Advance outstanding as of the last day of the Growth Capital Interest-Only Period, Borrower shall make twenty-four thirty (2430) consecutive equal monthly payments of principal and plus accrued but unpaid interest commencing on the first (1st) Business Day of the first (1st) month after the Growth Capital Interest-Only Period (the “Growth Capital Conversion Date”), in amounts that would fully amortize the applicable Growth Capital Advance, as of the Growth Capital Conversion Date, over the Growth Capital Repayment Period. The Growth Capital Final Payment and all unpaid principal and accrued and unpaid interest on each Growth Capital Advance are due and payable in full on the Growth Capital Maturity Date.

Appears in 1 contract

Sources: Loan and Security Agreement (Tracon Pharmaceuticals, Inc.)

Principal and Interest Payments. For each Growth Capital Advance outstanding as of the last day of the Growth Capital Interest-Only Period, Borrower shall make twenty-four (24A) thirty (30) consecutive equal monthly payments of principal and accrued but unpaid interest commencing on the first (1st) Business Day of the first (1st) month after the Growth Capital Interest-Only Period (the “Growth Capital Conversion Date”), in amounts that would fully amortize the applicable Growth Capital Advance, as of the Growth Capital Conversion Date, over the Growth Capital Repayment PeriodPeriod plus (B) monthly payments of accrued and unpaid interest. The Growth Capital Final Payment and all unpaid principal and accrued and unpaid interest on each Growth Capital Advance are due and payable in full on the Growth Capital Maturity Date.

Appears in 1 contract

Sources: Loan and Security Agreement (OncoCyte Corp)

Principal and Interest Payments. For each Growth Capital Advance outstanding as of the last day of the Growth Capital Interest-Only Period, Borrower shall make twentythirty-four six (2436) consecutive equal monthly payments of principal and plus all accrued but unpaid interest commencing on the first (1st) Business Day of the first (1st) month after the Growth Capital Interest-Only Period (the ​ ​ ​ Growth Capital Conversion Date”), in amounts that would fully amortize the applicable Growth Capital Advance, as of the Growth Capital Conversion Date, over the Growth Capital Repayment Period. The Growth Capital Final Payment and all ​ ​ ​ ​ unpaid principal and accrued and unpaid interest on each Growth Capital Advance are due and payable in full on the Growth Capital Maturity Date.

Appears in 1 contract

Sources: Loan and Security Agreement (Molekule Group, Inc.)

Principal and Interest Payments. For each Growth Capital Advance outstanding as of the last day of the Growth Capital applicable Interest-Only Period, Borrower shall make twenty-four thirty (2430) consecutive equal monthly payments of principal and principal, plus all accrued but unpaid interest interest, commencing on the first (1st) Business Day of the first (1st) month after the Growth Capital Interest-Only Period for such Growth Capital Advance (in each case, the “Growth Capital Conversion Date”), in principal amounts that would fully amortize the applicable Growth Capital Advance, as of the Growth Capital its Conversion Date, over the Growth Capital applicable Repayment Period. The Growth Capital Final Payment and all unpaid principal and accrued and unpaid interest on each Growth Capital Advance are is due and payable in full on the Growth Capital Maturity Date.

Appears in 1 contract

Sources: Loan and Security Agreement (Xactly Corp)

Principal and Interest Payments. For each Growth Capital Advance outstanding as of the last day of the Growth Capital Interest-Only Period, Borrower shall make (i) twenty-four (24) consecutive equal monthly payments of principal and accrued but unpaid interest commencing on the first (1st) Business Day of the first (1st) month after the Growth Capital Interest-Only Period (the “Growth Capital Conversion Date”), in amounts that would fully amortize the applicable Growth Capital Advance, as of the Growth Capital Conversion Date, over the Growth Capital Repayment PeriodPeriod plus (ii) monthly payments of accrued and unpaid interest. The Growth Capital Final Payment and all unpaid principal and accrued and unpaid interest on each Growth Capital Advance are is due and payable in full on the Growth Capital Maturity Date.

Appears in 1 contract

Sources: Loan and Security Agreement (Singular Genomics Systems, Inc.)