Subsequent Tranches. CEPI will pay the initial 6-month tranche of funding after receipt of a payment request by Awardee following signature of this Agreement. All subsequent 6-month tranches will be paid by CEPI within [***] after receipt of all of the following: (i) a payment request by Awardee; and (ii) the required IPDP Report (Annex D) and Financial Reports (Annex F), adjusted appropriately for any underspend from any previous payments. [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, IS OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) CUSTOMARILY AND ACTUALLY TREATED BY THE REGISTRANT AS PRIVATE OR CONFIDENTIAL. ANNEX A: TERMS AND CONDITIONS – SCHEDULE A
Subsequent Tranches. Subject to the terms and conditions set forth herein, the Closing of any subsequent Tranche (each, a “Subsequent Tranche”) shall occur on the earlier of (i) such date as the Company and Lead Investor may agree and (ii) the date that is sixty (60) Trading Days following the disbursement of the preceding Tranche; provided, that:
Subsequent Tranches. For all major and medium irrigation schemes and representatives of MLI schemes to be proposed for inclusion in the subsequent tranches, each subproject will be processed in accordance with the following procedures:
Subsequent Tranches. Subject of the satisfaction or waiver (as applicable) of the relevant Milestone, on the relevant Subsequent Completion Date:
Subsequent Tranches each subsequent tranche may be drawn down upon the achievement of the Milestones applicable to that tranche, provided that the Lenders' obligation to make such subsequent tranches available for drawing down:
Subsequent Tranches. 4. For the subsequent Tranches, the selection and approval processes would largely follow the same procedures as the Tranche 1 and 2 projects. The States needs for new IVCs under the Program cover a wide range of possible interventions and investments. Due to the big number of potential IVCs, a three-phase selection process will be followed.
Subsequent Tranches. All funding tranches following the First Tranche ("Subsequent Tranches" and together with First Tranche, the "Tranches") shall be in the amount of $150,000, shall be due and funded by Lender within seven business days after Borrower delivers to Lender a notice (the "Notice Date") that from the date of preceding tranche, Borrower has acquired, installed or placed for commercial use at least 20 micro-markets and that as of the Notice Date those micro-markets were being operated by or on behalf of the Borrower (Borrower may continue to provide such notices to the Lender following the placement of each of the Subsequent Tranches until the aggregate principal amount of Notes purchased by Lender from Borrower pursuant to this Agreement equals the Full Financing Amount).
Subsequent Tranches. On each Subsequent Closing Date (as defined below), the Company shall issue and sell to Purchaser, and Purchaser agrees to purchase from the Company, Notes in the aggregate original principal amount as may be required by the Company in a Funding Notice (in substantially the form attached hereto as Exhibit B hereto) but not less than $100,000, delivered to the Purchaser by the Company no less than 14 days prior to such Subsequent Closing Date (each such subsequent issuance and sale being hereinafter referred to as a “Subsequent Tranche”); provided, however, that in no event shall the Purchaser be obligated to Purchase Notes in an aggregate original principal amount in excess of $250,000 in any 30-day period.
Subsequent Tranches. If the Company has a Registration Statement declared effective within seventy-five (75) days of the Initial Closing, the Buyer shall purchase additional tranches of the Note up to the lesser of (i) $272,500.00 of principal; or (ii) the amount that the Buyer can purchase and include in the Registration Statement. Under no circumstances shall the principal amount purchased under all tranches (including the initial tranche) exceed $545,000.00. However, if the Registration Statement prohibits, or otherwise limits, the ability of the Buyer to sell any of the Securities thereunder, at the prevailing market price (each or any, a “Price Restriction”), the obligation of the Buyer to purchase a subsequent tranche or tranches shall not be triggered. Further, the registration obligations of the Company under this Agreement, the Note, the Warrants, the Registration Rights Agreement, or any other document connected herewith and therewith, obligating the Company to register any of the Securities shall not be satisfied if any Price Restriction in the Registration Statement exists.
Subsequent Tranches. Subject to the terms and conditions set forth herein, the Closing of any subsequent Tranche (each, a “Subsequent Tranche”) shall occur on such date as the Lead Buyer shall determine, if at all; provided, however, that the Closing of the Subsequent Tranches shall only occur after the date of the final consummation of the Business Combination.
