Qualified Debt Financing definition

Qualified Debt Financing means non-convertible debt (or similar instruments) resulting in net proceeds to the Company of no less than forty million dollars ($40,000,000) with (A) annual interest of no greater than LIBOR plus 8.00%, (B) no redemption provisions prior to the Maturity Date, (C) no original issue discount, (D) no make-whole interest or payments and (E) the purpose of which is to fund working capital for truck production.

Qualified Debt Financing means any debt financing in which the net proceeds to the Company, after repayment of the Horizon Debt, exceeds $10,000,000 and which is approved by the Majority Noteholders and the board of directors of the Company.

Qualified Debt Financing is defined in Section 5.14(d).

Examples of Qualified Debt Financing in a sentence

• The Subscriber agreed that, upon the Company’s written request, the Subscriber shall take such necessary action to share the Transaction Security pari passu with the financiers of any Next Qualified Debt Financing on terms and conditions reasonably satisfactory to the Subscriber and such financiers to effectuate the consummation of such Next Qualified Debt Financing.

• Unless earlier converted pursuant to Sections 2.2 (a), (b), or (d), if a Qualified Debt Financing occurs before March 31, 2007, then the outstanding principal amount of all Notes plus accrued interest would automatically convert into Conversion Shares.

• In the event of a debt Qualified Financing (“Qualified Debt Financing”), the Holder may at its option exchange in whole or in part this Note for a promissory note (or other evidence of indebtedness) in the same form and with the same terms and conditions as those issued in such Qualified Debt Financing and in a principal amount equal to the then outstanding Debt.

More Definitions of Qualified Debt Financing

Qualified Debt Financing means any debt financing which is subordinated to the Credit Agreement. This Section 9.19 shall expire once the ROFR Borrowers have made Offers to the Purchaser in respect of $20 million principal amount of Qualified Debt Financing.

Qualified Debt Financing is a transaction or series of transactions pursuant to which the Company issues and sells debt securities for aggregate gross proceeds of at least $5,000,000 (excluding all proceeds from the incurrence of prior indebtedness that is converted into, or otherwise cancelled in consideration for the issuance of such debt securities) with the principal purpose of raising capital.

Qualified Debt Financing means debt financing provided on commercially reasonable terms for similarly situated debtors and having a maturity of no less than 60 months, excluding the renewal or refinancing of existing debt provided by DVI and its affiliates.

Qualified Debt Financing means a (a) borrowing pursuant to (i) a loan agreement, credit facility or other financing arrangement with a bank or other financial institution resulting in the incurrence of debt for borrowed money or a receivables factoring arrangement or similar facility or arrangement or (ii) the public offering or private placement of debt securities, or (b) a “hire purchase facility” or similar facility or arrangement, in each case which results in proceeds to Borrower or any Subsidiary of at least $100,000 (net of all reasonable and customary payments, fees, commissions and expenses (including the reasonable fees and expenses of legal counsel and investment banking fees and expenses, sales commissions and relocation fees and expenses).

Qualified Debt Financing means any issuance by Borrower of Exchange Notes that raises aggregate proceeds of at least $5,000,000, but shall not include the conversion of the Secured Promissory Notes issued hereunder.

Qualified Debt Financing means a Private Financing where LICENSEE sells debt securities convertible into LICENSEE’s preferred stock or common stock at a fixed price determinable on the date of issuance. For the avoidance of doubt, the issuance of any debt security containing a valuation cap or other similar discount mechanism that is only applicable to a future valuation or price per share after the issuance date of such debt security shall not be considered a Qualified Debt Financing.

Qualified Debt Financing means any non-convertible debt (or similar instruments) resulting in net proceeds to us of no less than