Maturity Date. Often 36 months after the closing date. The loan will be fully repaid by this date.
Standard venture debt deals repay over 36 months. With an amortizing loan the final principal and interest payment will be made on this date. With a bullet structure the principal will be due and payable on this date.
If the borrower is sold, the Maturity Date will be brought forward to the day immediately prior to the change of control.
Company tip: Be sure to follow up as the Maturity Date approaches to ensure that the lender promptly releases any registered security once the loan has been fully repaid.