First Closing Note definition

First Closing Note means a promissory note in the aggregate principal amount of Fifty Million Dollars ($50,000,000) issued by Canadian OpCo to Company at the First Closing.
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First Closing Note has the meaning specified in Section 2.1(a).
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First Closing Note shall have the meaning ascribed to this term in Section 2.1.
Sample 1

Examples of First Closing Note in a sentence

  • The SPA also gave the Company the right, but not the obligation, to request one of the 2020 Convertible Noteholders to purchase an additional $5.0 million in principal amount of a note (the “Second Closing Note”, and, together with the First Closing Note, the “2020 Secured Notes”).

  • In May 2021, one of the 2020 Convertible Noteholders (the “Converting Noteholder”) converted the entire $7.5 million principal amount of such Converting Noteholder’s First Closing Note, and related accrued interest, amounting to approximately $0.04 million, into 1,256,143 shares of the Company’s common stock.

  • Prior to the conversion of the First Closing Note, the aggregate carrying amount was presented net of a discount, comprised of a commitment fee paid to the Converting Noteholder, amounting to $0.2 million.

  • The Company used the proceeds from the sale of (i) the First Closing Note to either (A) make a $1,300,000 contribution to SafeTek solely for the prompt purchase by SafeTek of Bitmain Equipment or (B) repay $1,300,000 aggregate principal indebtedness of the Company advanced by Jxxxxx Xxxxxxxxx on or about April 23, 2020 and used by the Company to acquire Bitmain Equipment and (ii) the Second Closing Note to repay $700,000 aggregate principal amount of outstanding indebtedness of the Company.

  • The Outstanding First Closing Note is secured by all the assets of the Company.

  • The holder of the Outstanding First Closing Note is a significant customer of the Company, whose chief executive officer is a member of the Company’s Board of Directors.

  • At the First Closing, Purchaser shall pay one-half of the Subscription Amount for the First Closing Note and the Warrants by wire transfer to the Company (less any amounts deductible under this Agreement), in accordance with the Company’s written wiring instructions, against delivery of a duly executed First Closing Note and certificates representing the Warrants (which shall have been delivered to Purchaser’s counsel in escrow prior to the date of the First Closing).

  • In 2020, pursuant to the terms of a Securities Purchase Agreement (the "SPA"), the Company issued secured convertible notes totwo investors which raised gross proceeds of$25 million, of which $15 million has been converted to common stock and $10 million remains outstanding (the "Outstanding First Closing Note").

  • In addition, the aggregate carrying amount of the First Closing Note in the accompanying December 31, 2020 condensed consolidated balance sheet is presented net of a discount, comprised of a commitment fee paid to the Converting Noteholder, amounting to $0.2 million.

  • Ownership Structure of Target Immediately Prior to the First Closing Note: The shareholding percentages in the above structure chart are with reference to issued share capital.


More Definitions of First Closing Note

First Closing Note shall have the meaning set forth in Section 2.1(a).
Sample 1

Related to First Closing Note

  • First Closing has the meaning set forth in Section 2.1(a).

  • Second Closing has the meaning set forth in Section 2.2.

  • First Closing Date shall refer to the time and date of delivery of certificates for the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representatives and shall not be earlier than three or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

  • Second Closing Date has the meaning set forth in Section 1.3.

  • Initial Closing shall have the meaning ascribed to such term in Section 2.1.

  • Closing Warrants shall have the meaning ascribed to such term in Section 2.1(a)(ii).

  • Subsequent Closing has the meaning set forth in Section 3.2.

  • Initial Closing Date shall have the meaning assigned to such term in Section 1.2 hereof.

  • Amendment Closing Date means the first date that all the conditions precedent set forth in this Amendment are satisfied or waived in accordance herewith.

  • Series Closing Date means the date designated as such in the Series Term Sheet.

  • Subsequent Closing Date means, with respect to each Subsequent Closing, the date on which such Subsequent Closing is deemed to have occurred.

  • Third Closing Date has the meaning set forth in Section 2.2(c).

  • First Amendment Closing Date has the meaning assigned to such term in the First Amendment.

  • Put Closing Date shall have the meaning set forth in Section 2.3.8.

  • Third Closing shall have the meaning ascribed to such term in Section 2.1(c).

  • Additional Closing has the meaning set forth in Section 2.3.

  • Original Closing Date means March 21, 2013.

  • Final Closing Date shall have the meaning specified in Section 7.2(a) hereof.

  • Additional Closing Date shall have the meaning set forth in Section 2.3.2.

  • Loan Closing Date means the date upon which the Loan is made to the Company.

  • Third Amendment Closing Date has the meaning assigned to such term in the Third Amendment.

  • Second Amendment Closing Date has the meaning assigned to such term in the Second Amendment.

  • Target Closing Date means three (3) Business Days following receipt of the Approval and Vesting Order, or such other date as the Parties may agree.

  • Series B Purchase Agreement means that certain Series B Preferred Stock Purchase Agreement, dated as of November 10, 2015, as amended and supplemented to date, by and among the Company and the investors signatory thereto.

  • Private Placement Warrants Purchase Agreement shall have the meaning given in the Recitals hereto.

  • Closing Date Purchase Price shall have the meaning set forth in Section 2.1 hereof.