Advance Settlement Date definition
Examples of Advance Settlement Date in a sentence
On each Advance Settlement Date, the Company shall pay to the Investor the Advance Fee with respect to each Advance made hereunder, which Advance Fee shall be deducted by Investor out of the gross proceeds of each Advance.
Each Closing shall take place on the Advance Settlement Date in accordance with the procedures set forth below.
In the event the Shares cannot be delivered through the Deposit Withdrawal Agent Commission System, then the Company shall cause its transfer agent, on each Advance Settlement Date, to issue and surrender to a common carrier for overnight delivery to the Investor, certificates, registered in the name of the Investor or its designees, representing the Shares applicable to such Advance.
After the first Advance Settlement Date under this Agreement and thereafter during the Commitment Period, the Company may at any time and from time to time request the Investor to purchase promissory notes (each, a “Note”) issued by the Company with a principal amount of up to $10,000,000.
During the Commitment Period the Company will not deliver an Advance Notice relating to a Big Advance unless the Company reasonably believes that the Big Advance Share Reserve will be sufficient to satisfy that Daily Share Allocations for each Big Advance Settlement Date relating to such Big Advance.
Among other things, the Advance Notice with respect to a Big Advance must indicate whether the Company desires to receive the Net Advance Amount on the fourth Trading Day after the Advance Pricing Date (the “Up Front Big Advance Funding Date”) or the last Big Advance Settlement Date with respect to such Big Advance (the “Delayed Big Advance Funding Date”).
Each Lender shall before 2:00 p.m. (Atlanta, Georgia time) on such Business Day (the "Agent Advance Settlement Date") make available to the Administrative Agent, in immediately available funds, the amount of its pro rata share of such principal amount of Agent Advances outstanding.
In addition, on the first Advance Settlement Date, the Company shall pay a fee of $100,000 to the Company Financial Advisor.