Qualified Financing Transaction definition

Qualified Financing Transaction means one or more or a series of financing transactions in which the Company raises gross proceeds not less than $6,000,000 (Six Million Dollars) pursuant to the issuance of equity securities provided that such securities are junior in all rights to this Note.

Qualified Financing Transaction means (x) the entry by the Company or any of its Subsidiaries into an agreement for the incurrence of indebtedness by the Company or any of its Subsidiaries, (y) the sale of debt or equity securities, or securities convertible into or exercisable or exchangeable therefor, of the Company or any of its Subsidiaries or (z) the sale or licensing outside the ordinary course of business of assets of the Company or any of its Subsidiaries, in each of case (x), (y) or (z), in an amount equal to or greater than $3,000,000.

Qualified Financing Transaction has the meaning given to it in Section 6.7 of this Agreement.

Examples of Qualified Financing Transaction in a sentence

• Unless sooner paid in accordance with the terms hereof, the entire unpaid principal amount and all unpaid accrued interest shall become fully due and payable on the earlier of (i) June 27, 2009, (ii) the closing of a Qualified Asset Monetization, Qualified Financing Transaction or Qualified Stock Sale or (iii) the acceleration of the maturity of this Note by the Holder upon the occurrence of an Event of Default (such earlier date, the “Maturity Date”).

• In addition to the rights set forth in Section 4.1, the Company shall first offer the Investors the right to invest in the Company’s next Qualified Financing Transaction such that, upon the closing of such financing, the Investors could maintain the same percentage in ownership on a fully diluted basis as immediately before such financing.

• Upon the consummation of a Qualified Financing Transaction, the Issuer agrees to pay fifty percent (50%) of all sums received in excess of $15,000,000 in the Qualified Financing Transaction toward payment of principal and interest due and payable, if any, under the terms of the Notes.

• For purposes of this Note, the term "Qualified Financing Transaction" shall mean one or more or a series of financing transactions in which the Company raises gross proceeds not less than $6,000,000 (Six Million Dollars) pursuant to the issuance of equity securities provided that such securities are junior in all rights to this Note.

• In the event the Company issues Common Stock before December 3, 2010, but has not raised sufficient funds to qualify as a Qualified Financing Transaction, the Conversion Price shall be determined in accordance with Paragraph 7(a) for the sale of such shares of Common Stock.

More Definitions of Qualified Financing Transaction

Qualified Financing Transaction means the first issuance of New Securities after the Closing primarily for equity financing purposes in any transaction or series of related transactions that results in aggregate gross proceeds to the Company of not less than US$1,000,000.

Qualified Financing Transaction means the consummation of a financing transaction or series of transactions whereby the Issuer raises at least $15,000,000, but shall not include any financing transaction entered into in connection with the APM or described in the Cardiac Science merger proxy relating thereto.

Qualified Financing Transaction has the meaning set forth in Section 3(f)(i).

Qualified Financing Transaction means the issuance by the Company to one or more third parties in a single transaction of restricted equity securities in a private placement from and after the Merger Closing and prior to the sixtieth (60th) day after the Merger Closing, which results in net cash proceeds to the Company of at least $5 million. The failure of the New Registration Statement to be declared effective by the Required Effectiveness Date is herein referred to as an “Effective Date Default.”

Qualified Financing Transaction which means a transaction in which the Company closes a new debt or equity financing prior to the maturity date that results in net proceeds to the Company of at least four million dollars ($4,000,000). Through September 30, 2003, Debtor issued $1,858,200 in principal amount of Bridge II convertible promissory notes in exchange for cash. Between October 1, 2003 and November 10, 2003, MDI issued an additional $122,000 in principal amount of Bridge II convertible promissory notes in exchange for cash. In September 2003 an amendment to the Bridge II Convertible Promissory Notes was sent to holders requesting an extension of the notes to July 31, 2004. As additional consideration for the extension, holders were offered an increase in the interest rate from 12% to 15%. In addition, an amendment to the indenture offered an increase in the warrant coverage ratio from 25% to 33%. o Beginning in February 2004, Debtor began an issue of up to $4,000,000 in Convertible Promissory Notes to accredited investors. The notes bear interest at 10 % per annum payable at maturity date in kind in the form of shares of common stock and are due December 31, 2008. The notes are convertible at any time into the common stock of Debtor. Debtor granted a junior security position in all of the Debtor's assets to the holders of the convertible promissory notes.

Qualified Financing Transaction shall have the meaning provided in Section7.1.

Qualified Financing Transaction which means a transaction in which the Company closes a new debt or equity financing prior to the maturity date that results in net proceeds to the Company of at least four million dollars ($4,000,000). Through September 30, 2003, Debtor issued $1,858,200 in principal amount of Bridge II convertible promissory notes in exchange for cash. Between October 1, 2003 and November 10, 2003, MDI issued an additional $122,000 in principal amount of Bridge II convertible promissory notes in exchange for cash. In September 2003 an amendment to the Bridge II Convertible Promissory Notes was sent to holders requesting an extension of the notes to July 31, 2004. As additional consideration for the extension, holders were offered an increase in the interest rate from 12% to 15%. In addition, an amendment to the indenture offered an increase in the warrant coverage ratio from 25% to 33%.