Common use of Financing Event Clause in Contracts

Financing Event. Either (a) the receipt of equity funding of at least Seven Million Dollars (US $7,000,000) by MP from a private investor or group of investors or (b) the receipt of equity funding by MP as a result of the initial public offering of securities of MP pursuant to an effective registration statement under the Securities Act of 1933, as amended. GROSS MARGINS. The sum total of Gross Transaction Margins and Advertising Revenues derived pursuant to this Agreement. GROSS TRANSACTION MARGINS. Aggregate amounts paid by AOL Purchasers in connection with the sale, licensing, distribution or provision of any MP Products, but excluding, in each case, the price paid to suppliers for the products and/or services sold, credit card charges, credits and chargebacks for returned or canceled goods or services, refunds, handling and shipping charges (to the extent such charges are competitive) and amounts collected for sales or use taxes or duties.