Examples of Advance Notice in a sentence
For the purposes hereof, the Applicable Redemption Percentage shall mean the greater of (a) 50% or (b) the quotient obtained by dividing (y) the total outstanding balance owed to the Holder by the Company, by (z) the total market value (based on the closing price immediately prior to the delivery of the particular Advance Notice) of the number of authorized shares of the Company remaining available and reserved for issuance to the Holder.
Upon the closing of such Advance Notice in accordance with Section 2.02 of the SEPA, the Holder shall offset the amount due to be paid by the Holder to the Company under the SEPA against the portion of the Installment Amount to be paid by the Advance Repayment.
The Company shall, at its own option, either (i) repay in cash each Installment Amount set forth on the Repayment Schedule on or before each applicable Repayment Date, (ii) repay each Installment Amount by submitting an Advance Notice or a series of Advance Notices (an “Advance Repayment”) each with an Advance Date on or before each applicable Repayment Date, or (iii) repay in a combination of a cash repayment or an Advance Repayment.