Subsequent Closing Criteria definition

Subsequent Closing Criteria means the fulfillment and maintenance of all of the following conditions as of the date hereof until the date of the applicable Closing: (i) the closing price of the Company’s common stock shall not be less than $0.10 per share for any three (3) consecutive Trading Days (as defined in the Debentures); (ii) the market capitalization of the Company shall not be less than Eight Million Dollars ($8,000,000) for any three (3) consecutive Trading Days; (iii) the Company shall not have engaged in any debt financing in an amount greater than One Hundred Fifty Thousand Dollars ($150,000), excluding any debt owed by the Company from time to time pursuant to a Senior Convertible Note (the “Senior VDF Note”) issued to VDF FutureCeuticals, Inc. (“VDF”) on January 28, 2014 in a principal amount equal, at any time, to the sum of any payments due by the Company to VDF FutureCeuticals, Inc. pursuant to a certain license agreement entered into with VDF and any accrued and unpaid interest thereon; and (iv) solely with respect to the third Closing, the Company’s net sales for the six (6) months ending June 30, 2015 shall not be less than the Company’s net sales for the six (6) months ending June 30, 2014 as reported in the Company’s Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission (the “SEC”) for the period ending June 30, 2015.
Sample 1

Related to Subsequent Closing Criteria

  • Subsequent Closing Date means, with respect to each Subsequent Closing, the date on which such Subsequent Closing is deemed to have occurred.

  • Subsequent Closing has the meaning set forth in Section 3.2.

  • Target Closing Date means three (3) Business Days following receipt of the Approval and Vesting Order, or such other date as the Parties may agree.

  • Second Closing Date has the meaning set forth in Section 1.3.

  • Third Closing Date has the meaning set forth in Section 2.2(c).

  • Initial Closing Date shall have the meaning assigned to such term in Section 1.2 hereof.

  • Additional Closing Date shall have the meaning set forth in Section 2.3.2.

  • Second Closing has the meaning set forth in Section 2.2.

  • Put Closing Date shall have the meaning set forth in Section 2.3.8.

  • Closing Conditions shall include, but are not limited to, SI Securities determining in its sole discretion that at the time of a closing, the Minimum Offering has been met, the investment remains suitable for investors, investors have successfully passed ID, KYC, AML, OFAC, and suitability screening, and that Issuer has completed all actions required by it as communicated by SI Securities at the time of a closing.

  • Additional Closing has the meaning set forth in Section 2.3.

  • First Closing Date shall refer to the time and date of delivery of certificates for the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representatives and shall not be earlier than three or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

  • Applicable Servicing Criteria With respect to the Servicer, the Special Servicer or any Servicing Function Participant, the Servicing Criteria applicable to it, as set forth on Exhibit L attached hereto. For clarification purposes, multiple parties can have responsibility for the same Applicable Servicing Criteria and with respect to a Servicing Function Participant engaged by the Servicer or the Special Servicer, the term “Applicable Servicing Criteria” may refer to a portion of the Applicable Servicing Criteria applicable to the Servicer or the Special Servicer, as the case may be.

  • Third Closing shall have the meaning ascribed to such term in Section 2.1(c).

  • Amendment Closing Date means the first date that all the conditions precedent set forth in this Amendment are satisfied or waived in accordance herewith.

  • Initial Closing shall have the meaning ascribed to such term in Section 2.1.

  • Closing Dates means the Initial Closing Date and each Subsequent Closing Date.

  • Scheduled Closing Date Has the meaning specified in the NPA.

  • Applicable Closing Date Has the meaning specified in Section 5.01(b) of this Trust Supplement.

  • IPO Closing Date means the closing date of the IPO.

  • Qualifying Criteria means the criteria outlined in Section 3 and which is used to determine whether an individual is eligible to receive criminal Legal Aid;

  • Initial Closing Price means the RI Closing Value of a Reference Item on the Strike Date

  • Closing Notice Has the meaning specified in the NPA. Company: Has the meaning specified in the first paragraph of this Trust Supplement.

  • Series Closing Date means the date designated as such in the Series Term Sheet.

  • Final Closing Date shall have the meaning specified in Section 7.2(a) hereof.

  • Closing Checklist means the schedule, including all appendices, exhibits or schedules thereto, listing certain documents and information to be delivered in connection with the Agreement, the other Loan Documents and the transactions contemplated thereunder, substantially in the form attached hereto as Annex D.