Bridge Financing Notes definition
Examples of Bridge Financing Notes in a sentence
This Bridge Note is one of a series of Series 1 Bridge Financing Notes that have been authorized by the Company (the "Series 1 Bridge Notes") and are alike except for principal amount and issue date, and are in registered form.
The Company has previously authorized the issuance, sale, and delivery of up to $1,500,000 in original principal amount of the Company's Series 1 Secured Convertible Bridge Financing Notes (the "Bridge Notes") in the Series 1 Bridge Note Purchase And Security Agreement (the "Purchase Agreement") dated March 16, 1999, by and among the Company and the Purchasers.
Effective immediately, the entire unpaid principal and accrued interest outstanding under the Bridge Financing Notes held by the Marital Trust (the “Marital Trust Bridge Outstanding Balance”) shall be automatically converted into an aggregate of 6,553,222 shares of Series A Preferred (the “Marital Trust Bridge Conversion Shares”).
Other than the Survivor’s Trust’s right to receive the Survivor’s Trust Bridge Conversion Shares, the Survivor’s Trust hereby waives any and all demands, claims, suits, actions, causes of action, proceedings, assessments and rights in respect of the Bridge Financing Notes held by the Survivor’s Trust, including, without limitation, any rights arising from any default or event of default under the Bridge Financing Notes held by the Survivor’s Trust.
The parties hereto agree that upon such conversion of the Marital Trust Bridge Outstanding Balance, all amounts owed under the Bridge Financing Notes held by the Marital Trust shall be deemed paid in full, the Bridge Financing Notes held by the Marital Trust shall be terminated and cancelled in full, and no party shall have any further obligations or commitments with respect thereto except as expressly provided for under this Agreement.
Promptly following the date hereof (i) the Marital Trust agrees to return to the Company for cancellation the original Bridge Financing Notes held by the Marital Trust and (ii) the Company shall issue to the Marital Trust the Marital Trust Bridge Conversion Shares.
The parties hereto agree that upon such conversion of the Survivor’s Trust Bridge Outstanding Balance, all amounts owed under the Bridge Financing Notes held by the Survivor’s Trust shall be deemed paid in full, the Bridge Financing Notes held by the Survivor’s Trust shall be terminated and cancelled in full, and no party shall have any further obligations or commitments with respect thereto except as expressly provided for under this Agreement.
Other than the Marital Trust’s right to receive the Marital Trust Bridge Conversion Shares, the Marital Trust hereby waives any and all demands, claims, suits, actions, causes of action, proceedings, assessments and rights in respect of the Bridge Financing Notes held by the Marital Trust, including, without limitation, any rights arising from any default or event of default under the Bridge Financing Notes held by the Marital Trust.
Effective immediately, the entire unpaid principal and accrued interest outstanding under the Bridge Financing Notes held by the Survivor’s Trust (the “Survivor’s Trust Bridge Outstanding Balance”) shall be automatically converted into an aggregate of 17.449,467 shares of Series A Preferred (the “Survivor’s Trust Bridge Conversion Shares”).
The Company has authorized the issuance, sale, and delivery of up to $1,500,000 in original principal amount of the Company's Series 1 Secured Convertible Bridge Financing Notes, in substantially the form attached hereto as Exhibit A (the "Bridge Notes").