Initial Preferred Shares definition

Initial Preferred Shares shall have the meaning attributable to it in Section 1.01 of this Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Initial Preferred Shares means 13,000 shares of the Series B Preferred Stock.

Initial Preferred Shares has the meaning assigned to that term in Section 2.1(a).

Examples of Initial Preferred Shares in a sentence

On the Initial Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, up to an aggregate of approximately $16 million Initial Preferred Shares with an aggregate Stated Value for each Purchaser equal to such Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser, and Initial Warrants as determined pursuant to Section 2.3(a).
The Company covenants that, if the Purchaser delivers a Notice of Conversion (as defined in the Certificate of Designations) to convert any Initial Preferred Shares between the date hereof and the Initial Closing Date, the Company shall deliver Conversion Shares to the Purchaser on the Initial Closing Date in connection with such Notice of Conversion.
Each Purchaser shall deliver to the Company, via wire transfer or a certified check, immediately available funds equal to such Purchaser’s Subscription Amount as set forth on the signature page hereto executed by such Purchaser and the Company shall deliver to each Purchaser its respective Initial Preferred Shares and an Initial Warrant as determined pursuant to Section2.3(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.3 deliverable at the Initial Closing.

More Definitions of Initial Preferred Shares

Initial Preferred Shares means the shares of Preferred Stock issued by the Company to the Purchasers hereunder on the Initial Closing Date.

Initial Preferred Shares means, collectively, the Preferred Shares to be issued in connection with the First Closing, the Second Closing, the Third Closing and the Closing (as defined in the FLYTE Purchase Agreement)

Initial Preferred Shares has the meaning ascribed thereto in Section 3.1(5);

Initial Preferred Shares means the Initial Preferred Shares as defined in the recitals hereof.

Initial Preferred Shares means the Initial Series B Preferred Share or the Initial Series C Preferred Shares, or any of them.

Initial Preferred Shares shall be the shares of Series A Preferred Stock to be issued and sold at the Closing, the number of which shall be as agreed between the Company and the Investor, provided that such number shall not be less than the Specified Investor Amount.

Initial Preferred Shares means, with respect to the Initial Equity Contribution, the closest whole number of duly authorized, validly issued, fully paid and non-assessable shares of Preferred Stock calculated by dividing the amount of the Initial Equity Contribution by the Preferred Stock Price on the Effective Date.