Future Financing. If, at any time any of the Debentures are outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures (the "Lump Sum Payment"). Upon the Purchaser's receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and Purchaser in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 4 contracts
Samples: Convertible Debenture Purchase Agreement (Scores Holding Co Inc), Convertible Debenture Purchase Agreement (Reality Wireless Networks Inc), Convertible Debenture Purchase Agreement (Pacific Fuel Cell Corp)
Future Financing. If, at any time any of the Debentures are outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Twenty Five Percent (150125%) of the then outstanding Debentures (the "Lump Sum Payment"). Upon the Purchaser's receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and the Purchaser in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Donobi Inc)
Future Financing. If, at any time any of the Debentures are outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures (the "Lump Sum Payment"). Upon the Purchaser's receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and the Purchaser in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Bib Holdings LTD)
Future Financing. If, at any time any of the Debentures are Debenture is outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-Successors- in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures Debenture (the "Lump Sum Payment"). Upon the Purchaser's receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and Purchaser in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Columbia Bakeries Inc)
Future Financing. If, at any time any of the Debentures are Debenture A is outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "“Successors-in-Interest"”), is funded an amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures Debenture A (the "“Lump Sum Payment"”). Upon the Purchaser's ’s receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and the Purchaser in connection with this Agreement and the Debentures Debenture A shall be deem satisfied, and the Agreement and the Debentures Debenture A shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Global It Holdings Inc)
Future Financing. If, at any time any of the Debentures are this Debenture is outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures Debenture (the "Lump Sum Payment"). Upon the Purchaser's receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and Purchaser in connection with this the Purchase Agreement and the Debentures this Debenture shall be deem satisfied, and the Purchase Agreement and the Debentures this Debenture shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Reality Wireless Networks Inc)
Future Financing. If, at any time any of the Debentures are Debenture is outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures Debenture (the "Lump Sum Payment"). Upon the Purchaser's receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and Purchaser in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Hy Tech Technology Group Ing)
Future Financing. If, at any time any of the Debentures are outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures (the "Lump Sum Payment"). Upon the Purchaser's receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and Purchaser in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.. 4.31
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Advanced Id Corp)
Future Financing. If, at any time any of the Debentures are outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser Purchasers an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures (the "Lump Sum Payment"). Upon the Purchaser's Purchasers' receipt of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and Purchaser the Purchasers in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Blue Moon Group Inc)
Future Financing. If, at any time any of the Debentures are ----------------- outstanding, the Company, or its successors in interest due to mergers, consolidations and/or acquisitions (the "Successors-in-Interest"), is funded an ---------------------- amount equal to or exceeding Five Million United States Dollars ($5,000,000), the Company or the Successors-in-Interest, as the case may be, agrees to pay the Purchaser an amount equal to One Hundred Fifty Percent (150%) of the then outstanding Debentures (the "Lump Sum Payment"). Upon the Purchaser's receipt ---------------- of the Lump Sum Payment, any and all remaining obligations then outstanding between the Company or the Successors-in-Interest, as the case may be, and Purchaser in connection with this Agreement and the Debentures shall be deem satisfied, and the Agreement and the Debentures shall be terminated. This provision shall survive both Closing and Post-Closing.
Appears in 1 contract
Samples: Convertible Debenture Purchase Agreement (Heritage Worldwide Inc)