Examples of 2011 Purchase Agreement in a sentence
In the event of a conflict between the terms of this Agreement, on the one hand, and the terms of the Existing Notes, the October 2010 Purchase Agreement, the January 2011 Purchase Agreement, the November 2011 Purchase Agreement and/or any other agreement referenced in the Recitals hereto, on the other hand, the terms of this Agreement shall prevail and control.
Capitalized terms not defined herein shall have the meaning given to them in the 2011 Purchase Agreement.
All notices, requests, demands and other communications hereunder shall be subject to the notice provision of the September 2011 Purchase Agreement.
The Company shall provide the Investors with copies of each of the fully executed Amended and Restated 2011 Purchase Agreement and the fully executed Amended and Restated 2013 Purchase Agreement in substantially the forms attached hereto as Exhibits G and H.
Borrowings under the March 2011 Purchase Agreement bore interest at a rate of 0.54% per annum, compounded annually.All three of the above mentioned notes were similarly structured in that the principal amount of the notes and any accrued and unpaid interest will automatically convert into Series A convertible redeemable preferred stock at the close of the Next Equity Financing, which is defined as the first sale of equity with gross proceeds not less than $4,000,000.
For the avoidance of doubt, in the event of any conflict between the terms of this Section 4 and the January 2011 Purchase Agreement, the terms of this Section 4 shall govern.
Each investor to the 2011 Purchase Agreement and investors to the 2013 Purchase Agreement that did not meet the 2013 Threshold Amount were given the right to participate in the next Subsequent Financing following their investment pursuant to the 2011 Purchase Agreement and the 2013 Purchase Agreement, as the case may be, so long as such investor agreed to participate in such Subsequent Financing for such investor’s full pro rata amount.
Capitalized terms used by not defined herein shall have the meanings set forth in the 2011 Purchase Agreement or the February 2013 Purchase Agreement, as applicable.
The total amount of notes and accrued interest converted was $2,558,332, of which $78,332 was accrued interest.In connection with the 2010 Purchase Agreement and the February 2011 Purchase Agreement, the Company issued warrants to purchase shares as part of the Company’s Next Equity Financing.
Each of the Amended and Restated Prior Agreements shall provide that (i) the investors of the relevant Prior Securities Purchase Agreement have similar limitations on their respective put rights as set forth for the Investors in Section 1.2(b) and (ii) with respect to the 2011 Purchase Agreement only, the anti-dilution protections provided therein are terminated.