Designated SPAC Conversion Amount definition
Examples of Designated SPAC Conversion Amount in a sentence
Each Loan Party expressly waives (to the fullest extent it may lawfully do so) the provisions of any present or future statute or law that prohibits or may prohibit the collection of the foregoing Contractual Return, the Post-IPO Contractual Return, the Designated SPAC Contractual Return, Qualifying IPO Conversion Amount or the Designated SPAC Conversion Amount in connection with any such acceleration.
Each Lender may, at its option, elect to convert the Designated SPAC Conversion Amount into Conversion Securities by delivering to Borrower a Conversion Election Notice on the Funding Date.
The Contractual Return, the Post-IPO Contractual Return, the Designated SPAC Contractual Return, Qualifying IPO Conversion Amount and the Designated SPAC Conversion Amount shall also be payable in the event the Secured Obligations (and/or this Agreement) are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure, or by any other means.
If any Lender elects to effect such a conversion, then the Designated SPAC Conversion Amount shall be automatically converted in full at the Conversion Time, subject to Section 5 of this Addendum 3, into a number of shares of Common Stock, as applicable, equal to (i) the Designated SPAC Conversion Amount, divided by (2) the applicable Conversion Price.
SPAC Contractual Return, Qualifying IPO Conversion Amount, and Designated SPAC Conversion Amount.
Each Loan Party expressly acknowledges that their agreement to pay the Contractual Return, the Post-IPO Contractual Return, the Designated SPAC Contractual Return, Qualifying IPO Conversion Amount or the Designated SPAC Conversion Amount to the Lenders as herein described was on the Closing Date and continues to be a material inducement to the Lenders to provide the Term Loan Advance.