Favorable Term definition

Favorable Term shall have the meaning set forth in Section 2.5.
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Favorable Term means a term that is more favorable to the purchaser of a Specified Security than the equivalent term in the Note or provides a new more favorable term to the purchaser of a Specified Security that is not included in the Note after giving effect to the obligations of such purchaser of a Specified Security with respect to such term. A term shall be a Favorable Term if the internal rate of return of the Specified Security is greater than the internal rate of return of the Note. If a term does not have a cash value or effect the computation of internal rate of return, then such term will be a Favorable Term by the reasonable determination of the holder of the Note. Notwithstanding the foregoing, a Favorable Term regarding the Conversion Price (as defined by the Note) or any right of the holder of the Note to be issued equity upon conversion of obligations under the Note shall be effective upon an Event of Default by the Company under the Note and a Favorable Term shall not apply to any of the following (1) the initial payment grace period under the Note or (2) the amortization schedule of the Note or (3) any security interest that is granted to the purchaser of a Specified Security.
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Favorable Term. Piggyback Registration", "Prospectus", "Registration Demand", "Registration Procedures", "Registration Rights", "Registration Statement", "Representative", "Saracen Members", "Saracen Registration Rights Agreement", "selling holder", "Shelf Registration", "Shelf Registration Statement", "Subsequent Warrant Holder", "Takedown", "underwriter" and "underwriting or agency agreement".
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Examples of Favorable Term in a sentence

  • The Purchaser shall notify the Company in writing, within ten (10) days after the date it has been offered the opportunity to receive the benefit of the More Favorable Terms, of its election to receive any More Favorable Term so offered.

  • If Replay has entered into or enters into any agreement with any third party media company, studio, network or content provider with respect to any of the matters addressed in this Agreement or any other current or future RNS offerings or services, which third party agreement provides any more favorable terms (each, a "More Favorable Term") than the comparable terms in this Agreement, then and in that event, Replay shall promptly notify ▇▇▇▇▇▇ of each such More Favorable Term.

  • Additionally, if Company fails to notify Investor of any such More Favorable Term, but Investor becomes aware that Company has granted such a term to any third party, Investor may notify Company and such More Favorable Term will become a part of the Transaction Documents retroactive to the date on which such More Favorable Term was granted to the applicable third party.

  • Notwithstanding the foregoing, no term or provision of the Senior Secured Notes and the Senior Secured Note Agreement shall constitute a More Favorable Term during any period when the outstanding aggregate principal amount of the Senior Secured Notes is less than or equal to U.S. $75,000,000.

  • Notwithstanding the foregoing, no term or provision of the Senior Secured Notes and the Senior Secured Note Agreement shall constitute a More Favorable Term) during any period when the outstanding aggregate principal amount of the Senior Secured Notes is less than or equal to U.S. $75,000,000.

  • So long as the Note is outstanding, upon any issuance by Company of any security with a More Favorable Term (as defined below), or amendment, waiver or adjustment to any existing security that results in the granting of a More Favorable Term, then Company shall notify Investor and such More Favorable Term, at Investor’s option, will become a part of the Transaction Documents for the benefit of Investor.


More Definitions of Favorable Term

Favorable Term shall have the meaning set forth in Section 7.5."
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