Outstanding Amounts Due definition

Outstanding Amounts Due means the total amount remaining due and owing under the terms of this Agreement and the Note as of the date in question, including without limitation outstanding principal, unpaid accrued interest, and, as applicable, any default interest or costs of collection (including without limitation attorneys’ fees and court costs) or other amounts contemplated in Section 6.2 of this Agreement or Section 8 of the Note.
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Examples of Outstanding Amounts Due in a sentence

  • If the Next Equity Financing or a Corporate Transaction has not occurred on or before the Maturity Date, the Outstanding Amounts Due may be converted, at the option of the Foundation, in whole or in part, into Conversion Shares, with the number of Conversion Shares to be issued upon such conversion equal to the quotient obtained by dividing the amount of the Outstanding Amounts Due elected to be converted by the Foundation on the date of conversion, by the Conversion Price.

  • The Outstanding Amounts Due will be automatically converted into Conversion Shares upon the closing of the Next Equity Financing.

  • The Company shall not be required to issue or deliver the Conversion Shares until the Foundation has surrendered the Note to the Company; provided, however, that in the event that the Note is being converted in part, then Foundation shall not be required to surrender the Note until the Company has paid to Foundation the entirety of the remaining Outstanding Amounts Due which are not being converted into Conversion Shares.

  • Before the Foundation shall be entitled to convert the Outstanding Amounts Due into Conversion Shares pursuant to Section 2.2(b) or Section 2.2(c), the Foundation shall give written notice to the Company of its election to so convert in accordance with the terms hereof.

  • In the interest of avoidance of doubt, if Foundation does not so elect to convert, or elects to only convert a portion of the Outstanding Amounts Due, then all or the remainder of the Outstanding Amounts Due, respectively, shall become immediately due and payable on the Maturity Date without any further action required on the part of any Party.

  • The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Outstanding Amounts Due by the Conversion Price.