Preferred Round definition

Preferred Round means a bona fide round of equity financing in which You issue and sell shares of your preferred stock for aggregate gross cash proceeds of at least $1,000,000 (excluding any amounts received upon conversion or cancellation of indebtedness).
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Examples of Preferred Round in a sentence

  • The 16,125,960 shares of Common Stock reserved for issuance upon conversion of the Series A Preferred Stock and Series B Preferred Stock may increase according to anti-dilution provisions to approximately 38,000,000 common shares on an "as converted" basis should a Series C and D Preferred Round of approximately $4 million close with a conversion ratio equaling $0.04 per common share.

  • For the 2018 calendar year, such metrics shall include the successful closing of a Preferred Round on or prior to April 30, 2019.

  • Accordingly, if a Preferred Round is closed (or if any staged closings occur) after December 31, 2018, but prior April 30, 2019, your bonus for the 2018 calendar year will be increased correspondingly and such increased portion paid promptly following such closing(s).

  • If the Preferred Round closes in multiple tranches (including tranches closed in the future, if initial closings of at least $3,000,000 occur by December, 2019), you will receive an additional award upon the closing of each tranche, in accordance with the foregoing.

  • Prior to the closing of a Preferred Round, you will be entitled to two weeks’ paid vacation each calendar year.

  • Following the closing of a Preferred Round, your vacation allowance will increase to four weeks’ of paid vacation per each calendar year.

  • The 16,125,960 shares of Common Stock reserved for issuance upon conversion of the Series A Preferred Stock and Series B Preferred Stock may increase according to anti-dilution provisions to approximately 24,000,000 common shares on an "as converted" basis should a Series C Preferred Round of $5 million close with a conversion ratio equaling $0.10 per common share.

  • The Company shall pay all of [_________]’s transaction-related expenses, up to $[50,000], including, but not limited to, legal and accounting fees [whether or not the proposed Preferred Round shall be issued or the Closing occurs].

  • Following the closing of a Preferred Round, your vacation allowance will increase to four weeks' of paid vacation per each calendar year.

  • The Company will be capitalized immediately after the consummation of the Preferred Round, on a fully-diluted basis, in the manner set forth in the pro forma capitalization table attached hereto as Annex A.

Related to Preferred Round

  • Preferred ’ means any of the above securities that are publicly traded on a recognized securities exchange and the securities have a rating of ‘‘A’’ or above. If the securities are not ‘‘Preferred,’’ they are listed as ‘‘Other.’’

  • Series C or "Series C Equipment Notes" means Equipment Notes issued and designated as "Series C" hereunder, in the Principal Amount and maturities and bearing interest as specified in Section 2.02 and Schedule I hereto under the heading "Series C."

  • Preference Stock means any and all series of preference stock, having no par value, of the Corporation.

  • Series C Preferred means the Company’s Series C Preferred Stock, par value $0.001 per share.

  • Series A or “Series A Equipment Notes” means Equipment Notes issued and designated as “Series A Equipment Notes” under the Indenture, in the original principal amount and maturities as specified in Schedule I to the Indenture under the heading “Series A Equipment Notes” and bearing interest at the Debt Rate for Series A Equipment Notes specified in Schedule I to the Indenture.