Debenture A definition
Examples of Debenture A in a sentence
Each Purchaser shall deliver to the Company, via wire transfer or a certified check, immediately available funds equal to such Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser, and the Company shall deliver to each Purchaser its respective Debenture, A Warrant and B Warrant, as determined pursuant to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing.
For the purposes of determining whether there is an equivalent offsetting long position in the Common Stock held by the Purchaser, shares of Common Stock issuable upon conversion of the Debenture A or exercise of the Warrant shall be deemed to be held long by the Purchaser with respect to the Underlying Shares and/or Warrant Shares for which a Notice of Conversion or Notice of Exercise, as appropriate, is delivered within two (2) Trading Days following the Trading Day that such Short Sale is entered into.
It is the intention of the Borrower and Lender that while this Debenture and Debenture A replace and supersede the Existing Note, in its entirety, it is not in payment or satisfaction of the Existing Note, but rather is the substitute of one evidence of debt for another without any intent to extinguish the old.
If not otherwise publicly available, upon the written request of Purchaser, the Company shall promptly furnish to the Purchaser a copy of all financial statements for any period subsequent to the period covered by the financial statements included in the Disclosure Documents until the full conversion of the Debenture A and exercise of the Warrant.
Assignor is the present legal and equitable owner and holder of that certain Fifth Replacement Debenture A dated and effective as of August 15, 2016, executed by Growlife, Inc.
Debenture A shall bear interest from November 17, 1995 and Debenture B from December 21, 1995.
This _______ Replacement Debenture B (“Debenture”), along with the Sixth Replacement Debenture A being executed by Borrower simultaneously herewith (“Debenture A”), evidence the Debentures and other Obligations incurred by the Borrower under and pursuant to the Purchase Agreement, to which reference is hereby made for a statement of the terms and conditions under which any payment hereon may be accelerated.
This provision shall survive both Closing and Post-Closing; provided, however, if the Note has not been paid in full by the Purchaser to the Company (whether or not it is otherwise then due or payable by its terms), (i) any payments from the Company to the Purchaser pursuant to this Section 4.31 will be offset by the principal amount of the Note and (ii) "Debentures" shall specifically refer to First Debenture A, First Debenture B and the Second Debenture.
If, at any time the Debenture A is outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the “Successors-in-Interest”), is funded an amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debenture A (the “Lump Sum Payment”).
The Company has and at all times while the Debenture A and the Warrant are outstanding will continue to maintain an adequate reserve of shares of Common Stock to enable it to perform its obligations under this Agreement, the Warrant and the Debenture A except as otherwise permitted in this Agreement, the Warrant or the Debenture A.