Qualifying Financing means any incurrence of indebtedness in an original principal amount equal to or in excess of $75,000,000 incurred by Parent, the Company or any Subsidiary thereof that does not contain provisions restricting the ability of the Company to make dividends or distributions that are not, taken as a whole, more restrictive than the most restrictive of such provisions contained in a Specified Contract as of the date of this Agreement.
Qualifying Financing means the Issuer raising, following the Amendment Effective Date, gross proceeds in an aggregate amount equal to or greater than $100,000,000 (or its equivalent in another currency or currencies) through the issue of Qualifying Equity Interests.
Qualifying Financing has that meaning set forth in the Certificate of Incorporation of the Company, as in effect immediately prior to the date of any such financing.
Examples of Qualifying Financing in a sentence
Upon closing of a Qualifying Financing, the Special Warrants automatically convert into Special Warrant Shares.
The Special Warrants are otherwise not convertible, and in the event the Lender does not participate in a Qualifying Financing on or prior to the maturity date, the Special Warrants will expire.
Conversion of the Special Warrants is subject to the Lender participating in a Qualifying Financing, as described above, for an aggregate subscription price of no less than the principal amount of their respective loan.
The Special Warrants are otherwise not convertible, and in the event the Lender does not participate in a Qualifying Financing on or prior to the maturity date, the Special Warrants will expire.On July 22, 2020, the Company completed a private placement of 5,180,000 units at a price of $0.20 per unit for total gross proceeds of $1,036,000.
This loan bears interest of 12% per annum and matures on the earlier of June 20, 2021 and the closing of a Qualifying Financing.
More Definitions of Qualifying Financing
Qualifying Financing has the meaning given to such term in Clause 13.11 (US Insolvency Proceedings: rights as to Transaction Security and proceeds).
Qualifying Financing means a financing on commercially reasonable terms (including with respect to the aggregate amount of fees and costs of such financing and any breakage costs or termination fees); provided that it is agreed that, with respect to Investor or its Affiliates, any such financing shall be deemed to be on commercially reasonable terms if (i) the interest rate for such financing does not exceed LIBOR plus three percent (3%), (ii) such financing has a loan-to-value ratio of at least forty percent (40%) (based on the value of the NEP Common Units to be delivered to Investor or its Affiliates in connection with the exercise of any such Call Option, NEP Change of Control Option or Class B COC Option); (iii) the terms of such financing are otherwise substantially similar in all material respects to similar financing arrangements entered into by third-party investors during the eighteen (18)-month period immediately prior to the Effective Date in connection with the purchase by NEP (in exchange for equity securities in NEP) of such third party investor’s membership interest in a joint venture between NEP or its affiliates, on the one hand, and such third-party investor, on the other hand, that is similar in nature to the transactions contemplated by this Agreement with respect to the Call Option, NEP Change of Control Option and Class B COC Option executed that are similar to the transaction contemplated by this Agreement and (iv) the sources of such financing are nationally reputable financial institutions in the business of providing financing of the nature described in the foregoing clause (iii); provided, further, that in no event shall such Qualifying Financing be secured by Encumbrances on any Class B Units. Quarter means, unless the context requires otherwise, a fiscal quarter of the Company.
Qualifying Financing means one or more Financings within the 12 months before or following the Effective Date resulting in gross proceeds of not less than $15,000,000.
Qualifying Financing has the meaning set forth in the A&R LLC Agreement.
Qualifying Financing means the first issuance or issuances of common shares or other securities in Africo or CopperCo after the date of issuance of the promissory notes under the Bridge Loan, on a single day or multiple days in any 90 day period, resulting in gross proceeds of not less than $10,000,000;
Qualifying Financing means (a) the issuance by Borrower of its common equity interests in an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) that results in such common equity interests being publicly traded on any United States national securities exchange or over the counter market resulting in cash gross proceeds to Borrower of at least $10,000,000; or (b) the closing of any bona-fide equity financing with third party investors resulting in cash gross proceeds to Borrower of at least $10,000,000.
Qualifying Financing means a financing transaction, or series of financing transactions with third parties other than the Holder, pursuant to which the Company has received gross proceeds of $50 million or more.