Termination of Certain Covenants. The covenants set forth in this Section 2 shall terminate and be of no further force or effect upon the earlier of: (i) the consummation of the sale of securities pursuant to a Qualifying IPO; or (ii) the first date upon which none of the Registrable Securities are outstanding.
Termination of Certain Covenants. The covenants set forth in Sections 2.5, 2.6, 2.7, 2.8, 2.9 and 2.10 shall terminate and be of no further force or effect upon the consummation of (i) a Qualified Public Offering or (ii) a Liquidation Event.
Termination of Certain Covenants. The covenants set forth in Section 8 shall terminate and be of no further force and effect upon the date on which the Company’s obligations under the Registration Rights Agreement to register and maintain the effectiveness of any registration covering the Registrable Securities (as such term is defined in the Registration Rights Agreement) shall terminate, unless such covenant is required to satisfied at such earlier date.
Termination of Certain Covenants. The covenants set forth in Sections 2.4 and 2.5 shall terminate and be of no further force or effect upon the consummation of the sale of securities pursuant to a bona fide, firmly underwritten public offering of shares of common stock, registered under the Act, at an offering price of at least $4.00 per share (appropriately adjusted for any stock split, dividend, combination or other recapitalization) and resulting in proceeds to the Company of at least $4,000,000.
Termination of Certain Covenants. The provisions set forth in Section 3.6 shall terminate and be of no further force or effect upon the consummation of the sale of securities pursuant to a registration statement filed by Acusphere under the Act in connection with the firm commitment underwritten offering of its securities to the general public.
Termination of Certain Covenants. (a) If, on any date following the Issue Date, the Notes have achieved Investment Grade Status; and (ii) no Default or Event of Default has occurred and is continuing under this Indenture, then, beginning on that day, the Company and its Restricted Subsidiaries will permanently no longer be subject to Sections 3.3, 3.5 and clause (3) of Section 4.1(a) (collectively, the “Terminated Covenants”). Following the achievement of Investment Grade Status, notwithstanding that the Notes may cease to have such Investment Grade Status or a Default or Event of Default may occur, the Terminated Covenants will be inapplicable to the parties to this Indenture and have no further force and effect.
Termination of Certain Covenants. The covenants set forth in Sections 2.5, 2.6, 2.7, 2.8, 2.9 and 2.10 shall terminate and be of no further force or effect upon the consummation of (i) a bona fide initial public offering in connection with which all of the Company’s outstanding shares of Preferred Stock are converted to shares of Common Stock or (ii) of the dissolution of the Company following a Liquidation Event, as that term is defined in the Company’s Restated Certificate of Incorporation (as amended from time to time).
Termination of Certain Covenants. The covenants set forth in Section 2.4 shall terminate and be of no further force or effect upon the consummation of a Qualified Public Offering.
Termination of Certain Covenants. The covenants set forth in Sections 3.5, 3.6 and 3.7 shall terminate and be of no further force or effect upon the consummation of (a) the IPO or (b) a Liquidation Event.
Termination of Certain Covenants. In the event that the ratings assigned to any Outstanding series of the Securities by Standard & Poor’s Ratings Services, a division of the XxXxxx-Xxxx Companies, Inc. (or successor thereto) and Xxxxx’x Investors Service, Inc. (or successor thereto) are equal to or higher than BBB– and Baa3, or the equivalents thereof, respectively (the “Investment Grade Ratings”), and notwithstanding that such may later cease to have an Investment Grade Rating, the Company and its Subsidiaries will not be subject to its obligations under Sections 10.08, 10.09, 10.12, 10.13, 10.14, 10.17, 10.19 and clauses 3 and 4 of Section 8.01, provided that no Default or Event of Default has occurred and is continuing. ARTICLE ELEVEN
