Initial Closing definition

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

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Initial Closing has the meaning set forth in Section 2.1.

Initial Closing means the closing of the purchase and sale of the Common Stock pursuant to Section 2.1.

Examples of Initial Closing in a sentence

• The Depositor shall within two (2) Business Days after the [Initial] Closing Date[and each Subsequent Closing Date], transfer all Collections received by it on or after the [applicable] Cutoff Date with respect to any Receivable or related Second Step Transferred Property to, or at the direction of, the Issuing Entity [(or the Grantor Trust)].

• As of the [Initial] Closing Date [and each Subsequent Closing Date], each Receivable and the related Financed Vehicle is free and clear of any Lien of any Person (other than L▇▇▇▇ created hereunder and Permitted Liens or those Liens that will be released simultaneously with the conveyance hereunder) and is in compliance with all Applicable Laws.

• No effective financing statement or other instrument similar in effect covering any portion of the Second Step Transferred Property shall, on or after the [Initial] Closing Date [and each Subsequent Closing Date], be on file in any recording office except such as may be filed in favor of (1) the Issuing Entity in accordance with this Agreement, [(2) the Grantor Trust in connection with the Receivables Contribution Agreement] or (3) the Indenture Trustee in connection with the Indenture.

• On the Initial Closing Date, upon the payment by the Purchaser of the Purchase Price by wire transfer of immediately available funds to the Company, the Company, at its option, shall deliver a certificate to the Purchaser evidencing the Private Placement Warrants purchased by the Purchaser on such date duly registered in the Purchaser’s name to the Purchaser, or effect such delivery in book-entry form.

• The price per Pre-Funded Warrant to be sold at the Initial Closing is equal to the Pre-Funded Warrant Price.

More Definitions of Initial Closing

Initial Closing shall have the meaning set forth in Section 3.1.

Initial Closing shall have the meaning specified in Section 7.2(a) hereof.

Initial Closing means the date of the initial sale of shares of the Company’s Series C Preferred Stock pursuant to the Purchase Agreement.

Initial Closing means the first closing of the Offering that will occur after the Minimum Offering is achieved.

Initial Closing has the meaning set forth in Section 4.01.

Initial Closing has the meaning assigned that term in the Purchase Agreement.

Initial Closing shall have the meaning assigned thereto in the Master PSA.