Partial Redemption Payment definition
Partial Redemption Payment means, for any date that is a Partial Redemption Date, an amount equal to one hundred twenty percent (120%) of [ ]2, as determined by Holder in its sole discretion; provided, however, that the Company shall not be required to partially redeem more than such amount in aggregate in respect of this Note on any Partial Redemption Date; provided, further, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent and notice to the Trustee.
Partial Redemption Payment means, for any date that is a Partial Redemption Date, an amount equal to one hundred fifteen percent (115%) of twelve and a half percent (12.5%) of the Principal Amount as of the Issue Date of this Note and all other Notes issued on the Issue Date, as determined by Holder in its sole discretion; provided, however, that the Company shall not be required to partially redeem more than such amount in aggregate in respect of this Note and all Other Notes issued on the same Issue Date that have been elected to be partially redeemed by the Holder and the Other Holders on any Partial Redemption Date; provided, further, that the Holder, all of the Other Holders and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent and notice to the Trustee.
Partial Redemption Payment means, for any date that is a Partial Redemption Date, an amount up to twelve and a half percent (12.5%) of the initial Principal Amount of this Note as of the Initial Closing Date (as defined in the Securities Purchase Agreement) (as proportionally adjusted for any partial sale or transfer of this Note after its date of issuance), as determined by Holder in its sole discretion; provided, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent and notice to the Trustee.
Examples of Partial Redemption Payment in a sentence
If this Note (or any portion of this Note) is to be redeemed pursuant to this Section 4(A), then, from and after the date the related Partial Redemption Payment is paid in full, this Note (or such portion) will cease to be outstanding.
The Company shall partially redeem this Note in an amount equal to the applicable Partial Redemption Payment (or portion thereof, if applicable) on each Partial Redemption Date.
Notwithstanding anything to the contrary in this Note, until the Requisite Stockholder Approval is obtained, in no event will the number of shares of Common Stock issuable upon conversion or otherwise pursuant to this Note and any Other Notes, including (for the avoidance of doubt) any portion constituting a payment of a Partial Redemption Payment exceed 14,740,234 shares in the aggregate.
Each such Partial Redemption Payment shall be paid to Holder in cash on each Partial Redemption Date in accordance with Section 5(A) or in shares of Common Stock on each Conversion Settlement Date in accordance with Section 7(C).
Subject to the provisions of this Section 7, each time, if any, that the Holder receives a Partial Redemption Stock Payment Notice, the Holder may convert the applicable portion of the Partial Redemption Payment for which the Partial Redemption Stock Payment Notice was given into Conversion Consideration.
More Definitions of Partial Redemption Payment
Partial Redemption Payment means, (A) for any date that is a Partial Redemption Date prior to April 1, 2025, an amount up to one million nine hundred twenty five thousand dollars ($1,925,000) and (B) for any date that is a Partial Redemption Date on or after April 1, 2025, an amount up to three million eight hundred fifty thousand dollars ($3,850,000), in each case as determined by Holder in its sole discretion; provided, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent.]7
Partial Redemption Payment means, for any date that is a Partial Redemption Date, an amount not to exceed in the aggregate, with respect to all of the Initial Purchased Notes (as defined in the Securities Purchase Agreement), $5,175,000 as determined by Holder in its sole discretion; provided, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment.
Partial Redemption Payment means, for any date that is a Partial Redemption Date, an amount equal to up to [ ● ] dollars ($[ ● ])2, as determined by Holder in its sole discretion; provided, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent.
Partial Redemption Payment means, for each Partial Redemption Date specified below, an amount equal to one hundred twenty percent (120%) of the applicable amount specified below, as determined by Holder in its sole discretion; provided, however, that the Company shall not be required to partially redeem more than such amount in aggregate in respect of this Note on any Partial Redemption Date; provided, further, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent and notice to the Trustee: Partial Redemption Date Amount1 August 1, 2024 $[•] September 1, 2024 $[•] October 1, 2024 $[•] November 1, 2024 $[•] December 1, 2024 $[•] January 1, 2025 $[•] February 1, 2025 $[•] March 1, 2025 $[•] April 1, 2025 $[•] May 1, 2025 $[•] July 1, 2025 $[•] October 1, 2025 $[•] January 1, 2026 $[•] 1 NTD: Partial Redemption Payment amounts for each Holder will be as follows: Partial Redemption Date Amount for High Trail Investments ON LLC Amount for HB SPV I Master Sub LLC August 1, 2024 $350,000 $525,000 September 1, 2024 $350,000 $525,000 October 1, 2024 $3,850,000 $5,775,000 November 1, 2024 $350,000 $525,000 December 1, 2024 $350,000 $525,000 January 1, 2025 $3,850,000 $5,775,000 February 1, 2025 $350,000 $525,000 March 1, 2025 $350,000 $525,000 April 1, 2025 Remaining Principal Amount outstanding Remaining Principal Amount outstanding May 1, 2025 $0 $0 July 1, 2025 $0 $0 October 1, 2025 $0 $0 January 1, 2026 $0 $0 April 1, 2026 $0 $0 July 1, 2026 $0 $0 August 1, 2026 $0 $0 April 1, 2026 $[•] July 1, 2026 $[•] August 1, 2026 $[•]
Partial Redemption Payment means [Insert an amount (rounded to the nearest second decimal place) equal to one twelfth (1/12th) of the initial Principal Amount of the Note]; provided, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent.8]
Partial Redemption Payment. , in relation to a security, means a payment that has the effect of partially redeeming the security;
Partial Redemption Payment means, for any date that is a Partial Redemption Date, an amount, as determined by the Holder in its sole discretion, equal to up to the greater of (a) five percent (5.0%) of the aggregate Daily Volume of the Common Stock for all VWAP Trading Days during the applicable Volume Redemption Period (the “Volume Redemption Amount”), (b) an amount equal to (i) $2,000,000, minus (ii) the Banked Amount applied by the Company, if any, and (c) $750,000; provided, that the Holder and the Company may agree to increase the size of any Partial Redemption Payment by mutual written consent.