Common use of Liquidity Event Clause in Contracts

Liquidity Event. (i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financing, the Investor will, at its option, either (1) receive a cash payment equal to the Purchase Amount or (2) automatically receive from the Company a number of shares of Common Stock equal to the Purchase Amount divided by the Liquidity Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of other Crowd Safes (collectively, the “Cash-Out Investors”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts.

Appears in 5 contracts

Samples: uploads.republic.com, uploads.republic.co, uploads.republic.co

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Liquidity Event. (i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financing, the Investor will, at its option, either (1i) receive a cash payment equal to the Purchase Amount or (2ii) automatically receive from the Company a number of shares of Common Stock equal to the Purchase Amount divided by the Liquidity Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of other Crowd Safes (collectively, the “Cash-Out Investors”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts.

Appears in 4 contracts

Samples: uploads.republic.co, uploads.republic.co, uploads.republic.co

Liquidity Event. (i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financing, the Investor will, at its option, either (1i) receive a cash payment equal to the Purchase Amount or (2ii) automatically receive from the Company a number of shares of Common Stock Securities equal to the Purchase Amount divided by the Liquidity Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of other Crowd Safes (collectively, the “Cash-Out Investors”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts.

Appears in 3 contracts

Samples: uploads.republic.co, uploads.republic.co, uploads.republic.com

Liquidity Event. (i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financing, the Investor will, at its option, either (1i) receive a cash payment equal to the Purchase Amount or (2ii) automatically receive from the Company a number of shares of its Class A Common Stock equal to the Purchase Amount divided by the Liquidity Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of other Crowd Safes (collectively, the “Cash-Out Investors”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts.

Appears in 2 contracts

Samples: uploads.republic.co, uploads.republic.co

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Liquidity Event. (i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financinginstrument, the Investor will, at its option, either (1i) receive a cash payment equal to the Purchase Amount or (2ii) automatically receive from the Company a number of shares of Common Series CF Preferred Stock equal to the Purchase Amount divided by the Liquidity Conversion Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i1(b), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of all other Crowd Safes (collectively, the “Cash-Out Investors”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts.

Appears in 1 contract

Samples: uploads.republic.co

Liquidity Event. (i) If there is a Liquidity Event before the termination of this instrument and before any Equity Financinginstrument, the Investor will, at its option, either (1i) receive a cash payment equal to the Purchase Amount or (2ii) automatically receive from the Company a number of shares of Common Series CF Preferred Stock equal to the Purchase Amount divided by the Liquidity Conversion Price, if the Investor fails to select the cash option. In connection with this Section 1(b)(i1(b), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay the Investor and holders of all other Crowd Safes (collectively, the “Cash-Out Investors”) in full, then all of the Company’s available funds will be distributed with equal priority and pro rata among the Cash-Cash- Out Investors in proportion to their Purchase Amounts.

Appears in 1 contract

Samples: uploads.republic.co

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