Effective Time definition
Examples of Effective Time in a sentence
The Company shall file a Current Report on Form 8-K within four (4) business days following the Effective Time disclosing the material terms of this Agreement and filing a copy of this Agreement as an exhibit thereto.
Section 2.A. of the Convertible Note is hereby amended to replace “twelve (12%) percent” with “eight (8%) percent.” For the avoidance of doubt, all interest accrued under the Convertible Note through the Effective Time shall be calculated at the rate of twelve percent (12%) per annum.
From and after the Effective Time, interest shall accrue at the rate of eight percent (8%) per annum.
Until the Effective Time, the amendments set forth in Section 2 and the prepayment restrictions set forth in Section 4 shall have no force or effect.
The Company shall use commercially reasonable efforts to cause the New Registration Statement to be declared effective by the SEC as promptly as practicable following filing, and in any event within ninety (90) calendar days following the Effective Time (or within one hundred twenty (120) calendar days if the SEC reviews and provides comments on the New Registration Statement).