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"offset": [4250, 4286]}, {"key": "in-the-event", "type": "clause", "offset": [4290, 4302]}, {"key": "equitable-adjustments", "type": "clause", "offset": [4354, 4375]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [4402, 4428]}, {"key": "with-respect-to", "type": "clause", "offset": [4469, 4484]}, {"key": "rights-and-interests", "type": "definition", "offset": [4489, 4509]}, {"key": "in-relation-to", "type": "clause", "offset": [4664, 4678]}], "size": 5, "snippet": "(i) If a Qualifying IPO occurs prior to the Maturity Date, then effective as of the closing date of such Qualifying IPO, the Series 2 Note Obligation Amount shall automatically convert in full into a number of Conversion Shares equal to: (x) the outstanding Series 2 Note Obligations Amount on such closing date, divided by (y) a price per share (the \u201cIPO Conversion Price\u201d) equal to (A) 90% of the gross price per share at which Common Stock is sold in the Qualifying IPO, if the Qualifying IPO occurs on or before September 30, 2022; (B) 85% of the gross price per share at which Common Stock is sold in the Qualifying IPO, if the Qualifying IPO occurs on or after October 1, 2022 but on or before December 31, 2022; or (C) 80% of the gross price per share at which Common Stock is sold in the Qualifying IPO, if the Qualifying IPO occurs on or after January 1, 2023. If, in the case of a Qualifying IPO described in clause (b) of the definition thereof, such gross price per share is not readily identifiable, then such gross price per share shall be deemed to equal the average of the last reported per share sale price of the successor entity\u2019s common stock on the public securities market on which it is primarily traded for the twenty (20) consecutive trading days immediately prior to the closing date of such Qualifying IPO; provided, however, that if no sales of such common stock occurred on any such trading day, the mean between the closing \u201cbid\u201d and \u201casked\u201d per share prices for such common stock on such trading day shall be used in lieu of the last reported per share sale price for such trading day.\n(ii) No later than five (5) business days following the closing date of a Qualifying IPO, the Company shall provide the Holder with written notice of the conversion of the Series 2 Note Obligation Amount into Conversion Shares in accordance with Section 3.1(a)(i), specifying the Series 2 Note Obligation Amount so converted, the IPO Conversion Price, the number of Conversion Shares into which such Series 2 Note Obligation Amount has been converted and the effective date of such conversion, and requesting the Holder to surrender this Series 2 Note to the Company in the manner and at the place designated in such notice. The Holder agrees to deliver the original of this Series 2 Note to the Company for cancellation not later than ten (10) days after its receipt of such notice; provided, however, that from and after the closing date of such Qualifying IPO, the Series 2 Note Obligation Amount shall be deemed to have been fully converted into Conversion Shares and this Series 2 Note shall be deemed to have been paid in full, whether or not it is delivered for cancellation as set forth in this sentence. From and after the closing date of such Qualifying IPO, the Holder shall be treated for all purposes as the record holder of the Conversion Shares into which the Series 2 Note Obligation Amount has been converted in accordance with this Section 3.1(a). The Holder shall be entered into the register of holders of Common Stock effective as of the closing date of the Qualifying IPO and the Company shall promptly provide (or cause to be provided) to the Holder evidence of same.\n(iii) Notwithstanding anything in this Series 2 Note to the contrary, if there shall occur a Qualifying IPO described in clause (b) of the definition thereof in which the Common Stock is converted into or exchanged for securities, cash or other property then, upon conversion of the Series 2 Note Obligation Amount pursuant to Section 3.1(a)(i), the Holder shall be entitled to receive (in lieu of the Conversion Shares) the kind and amount of securities, cash or other property which the holder would have been entitled to receive if (a) such Series 2 Note Obligation Amount (or portion thereof) had been converted into the number of Conversion Shares that the Holder would otherwise have been entitled to receive pursuant to Section 3.1(a)(i) and (b) immediately after giving effect to such conversion, the number of Conversion Shares determined pursuant to clause (a) above had been sold, exchanged or otherwise disposed of by such Holder in accordance with the terms of such Qualifying IPO (such securities, cash and other property, the \u201cAlternative Conversion Consideration\u201d). In the event any such event occurs, the Company shall make such equitable adjustments in the application of the provisions of this Section 3.1(a) as it determines are appropriate with respect to the rights and interests thereafter of the Holder, to the end that the provisions set forth in this Section 3.1(a) shall thereafter be applicable, as nearly as reasonably may be, in relation to the Alternative Conversion Consideration deliverable upon conversion of the Series 2 Note Obligation Amount.", "hash": "a652a11699f7ce9f3aa9f6cb32aa75c5", "id": 1}, {"samples": [{"hash": "3agIfZwSM27", "uri": "/contracts/3agIfZwSM27#qualifying-ipo", "label": "Investors\u2019 Rights Agreement (Target Global Acquisition I Corp.)", "score": 36.3867214237, "published": true}], "snippet_links": [{"key": "in-the-event-of-a", "type": "clause", "offset": [0, 17]}, {"key": "the-investor", "type": "definition", "offset": [34, 46]}, {"key": "agrees-to", "type": "clause", "offset": [47, 56]}, {"key": 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"clause", "offset": [1178, 1181]}, {"key": "gsb-holdings", "type": "definition", "offset": [1208, 1220]}], "size": 3, "snippet": "Notwithstanding anything in this Agreement to the contrary, the execution, delivery and performance of customary documentation (and amendments to existing documentation) and transactions governing the relations between and among the equity owners of the Borrower, the Borrower and the IPO Co., including, without limitation, the execution, delivery and performance of an amended and restated limited liability company operating agreement of S\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Holdings and a tax receivable agreement by and among Parent, S\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Holdings and the Continuing Equity Owners (as defined below), in each case, on customary terms for similar \u201cUp-C\u201d transactions; and such other transactions incidental to the foregoing as the board of directors or similar governing body of Parent shall determine, in its good faith judgment, to be reasonably necessary in order to effect a Qualifying IPO shall be permitted hereunder, in each case, not inconsistent with the other terms and provisions of this Agreement. For purposes hereof, \u201cContinuing Equity Owners\u201d shall mean the owner of the limited liability company interests in S\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 Holdings, including The B\u2587\u2587\u2587\u2587\u2587\u2587\u2587 Family Trust II A U/A/D December 29, 2015 and GSB Holdings, LLC.", "hash": "f2d8763033f240009fc1adedddadffdb", "id": 4}, {"samples": [{"hash": "e9iuOGTIqwX", "uri": "/contracts/e9iuOGTIqwX#qualifying-ipo", "label": "Joint Venture Agreement", "score": 29.340862423, "published": true}, {"hash": "iT7euRVDQJg", "uri": "/contracts/iT7euRVDQJg#qualifying-ipo", "label": "Joint Venture Agreement (WuXi PharmaTech (Cayman) Inc.)", "score": 21.0, "published": true}], "snippet_links": [{"key": "the-founders", "type": "clause", "offset": [16, 28]}, {"key": "best-endeavours", "type": "definition", "offset": [68, 83]}, {"key": "december-2007", "type": "clause", "offset": [118, 131]}, {"key": "preference-shareholders", "type": "definition", "offset": [175, 198]}, {"key": "in-connection-with", "type": "clause", "offset": [211, 229]}, {"key": "the-foregoing", "type": "definition", "offset": [230, 243]}, {"key": "the-company-will", "type": "clause", "offset": [276, 292]}, {"key": "the-application", "type": "clause", "offset": [301, 316]}, {"key": "general-meeting", "type": "definition", "offset": [385, 400]}, {"key": "of-the-company", "type": "clause", "offset": [401, 415]}, {"key": "terms-of", "type": "definition", "offset": [445, 453]}, {"key": "appointment-of", "type": "clause", "offset": [481, 495]}, {"key": "financial-advisor", "type": "definition", "offset": [540, 557]}, {"key": "subject-to-the", "type": "definition", "offset": [593, 607]}, {"key": "consent-of-the", "type": "clause", "offset": [622, 636]}, {"key": "consent-not-to-be-unreasonably-withheld", "type": "clause", "offset": [684, 723]}, {"key": "provided-that", "type": "clause", "offset": [726, 739]}, {"key": "within-thirty", "type": "clause", "offset": [837, 850]}, {"key": "days-after", "type": "definition", "offset": [856, 866]}, {"key": "terms-and", "type": "clause", "offset": [890, 899]}, {"key": "by-the-board", "type": "clause", "offset": [948, 960]}], "size": 2, "snippet": "The Company and the Founders agree that each of them will use their best endeavours to procure a Qualifying IPO by 31 December 2007 (or such other date as the Company and the Preference Shareholders may agree). In connection with the foregoing, the Founders will procure that the Company will support the application for such a Qualifying IPO and they will exercise their votes at any general meeting of the Company called for such purpose. The terms of such a Qualifying IPO, the appointment of any manager, arranger, underwriter or other financial advisor for such a Qualifying IPO shall be subject to the prior written consent of the Preference Shareholders and the Founders (such consent not to be unreasonably withheld), provided that if the Preference Shareholders and/or the Founders shall fail to respond or to unanimously agree within thirty (30) days after being notified of such terms and appointment, such matters shall then be decided by the Board.", "hash": "9b61722087fe450b5f1d7b1d20ff8a26", "id": 6}, {"samples": [{"hash": "i7ekSc3OOik", "uri": "/contracts/i7ekSc3OOik#qualifying-ipo", "label": "Agreement and Plan of Reorganization (Intracel Corp)", "score": 18.0, "published": true}], "snippet_links": [{"key": "the-term", "type": "clause", "offset": [0, 8]}, {"key": "first-registered", "type": "definition", "offset": [36, 52]}, {"key": "shares-of-common-stock", "type": "clause", "offset": [86, 108]}], "size": 2, "snippet": "The term \"Qualifying IPO\" means the first registered, underwritten public offering of shares of Common Stock by this corporation.", "hash": "5ef1c1fc0412378b0548e4b2f5e2ad1a", "id": 7}, {"samples": [{"hash": "akCVm98Sgcz", "uri": "/contracts/akCVm98Sgcz#qualifying-ipo", "label": "Credit Agreement (Montrose Environmental Group, Inc.)", "score": 31.4941820671, "published": true}], "snippet_links": [{"key": "business-days-of", "type": "clause", "offset": [12, 28]}, {"key": "consummation-of", "type": "clause", "offset": [33, 48]}, {"key": "prior-to", "type": "definition", "offset": [71, 79]}, {"key": "permitted-redemption", "type": "clause", "offset": [112, 132]}, {"key": "series-a-1-preferred-equity", "type": "definition", "offset": [140, 167]}, {"key": "in-connection", "type": "definition", "offset": [168, 181]}, {"key": "the-borrowers", "type": "definition", "offset": [194, 207]}, {"key": "the-loans", "type": "clause", "offset": [221, 230]}, {"key": "cash-collateralize", "type": "clause", "offset": [238, 256]}, {"key": "amount-required", "type": "clause", "offset": [294, 309]}, {"key": "consolidated-total-leverage-ratio", "type": "definition", "offset": [323, 356]}, {"key": "equal-to", "type": "definition", "offset": [363, 371]}, {"key": "after-giving", "type": "clause", "offset": [384, 396]}, {"key": "pro-forma-basis", "type": "clause", "offset": [428, 443]}, {"key": "prepayment-of-revolving-loans", "type": "clause", "offset": [474, 503]}, {"key": "reduction-in", "type": "definition", "offset": [585, 597]}, {"key": "the-revolving-commitments", "type": "clause", "offset": [598, 623]}, {"key": "pursuant-to", "type": "definition", "offset": [641, 652]}], "size": 1, "snippet": "Within five Business Days of the consummation of a Qualifying IPO (but prior to (or contemporaneously with) any permitted redemption of the Series A-1 Preferred Equity in connection therewith), the Borrowers shall prepay the Loans and/or Cash Collateralize the L/C Obligations in the aggregate amount required to cause the Consolidated Total Leverage Ratio to be equal to 3.00 to 1.0 after giving effect to such prepayment on a Pro Forma Basis (without giving effect to any prepayment of Revolving Loans with the proceeds of such Qualifying IPO unless accompanied with a corresponding reduction in the Revolving Commitments). 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