Examples of Qualified Equity Financing in a sentence
The number of shares of Common Stock to be issued upon such a conversion (an “Optional Conversion”) shall be equal to the quotient obtained by dividing (i) the outstanding principal balance and unpaid accrued interest under this Note as of the date prior to the Closing of the Corporate Transaction or Qualified Equity Financing, as applicable, by (ii) the Conversion Price as in effect on such date.
In the event of a Corporate Transaction or Qualified Equity Financing, the Company shall have the right, but not the obligation, to prepay all, but not less than all, of the obligations arising under this Note following the consummation of such Corporate Transaction or Qualified Equity Financing, unless the Holder elects to convert this Note into shares of Common Stock pursuant to, and in accordance with, Section 3(c).
The closing of the Optional Conversion shall, contingent entirely upon the consummation of such Corporate Transaction or Qualified Equity Financing, as applicable, occur immediately prior to the consummation of the Corporate Transaction or Qualified Equity Financing, as applicable.
No sooner than fifteen (15) days nor later than ten (10) days prior to the consummation of a Corporate Transaction or Qualified Equity Financing, as applicable, the Company shall deliver written notice thereof to the Holder (a “Transaction Notice”), which such Transaction Notice shall state whether or not the Company will elect to prepay all of the obligations arising under this Note.
Xxxxxx agrees to execute all of the Financing Agreements in connection with a Qualified Equity Financing.