Initial Closing definition

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

Initial Closing has the meaning set forth in Section 2.1.

Initial Closing means the closing of the purchase and sale of the Common Stock pursuant to Section 2.1.

Examples of Initial Closing in a sentence

• The Company shall, within ninety (90) days following the Initial Closing (as defined in the Purchase Agreement), adopt and thereafter maintain in effect (i) a Code of Conduct governing appropriate workplace behavior and (ii) an Anti-Harassment and Discrimination Policy prohibiting discrimination and harassment at the Company.

• Prior to the Commencement of Operations (as defined in the Registration Statement) of the Company, the Adviser and its affiliates shall advance all organizational and offering expenses in connection with the formation of the Company and the Initial Closing of the Private Offering (as defined in the Registration Statement) (the “Organizational and Offering Expenses”).

• The Management Fee for the Company’s first quarter of operations (i.e., the period beginning on the date of the Initial Closing (as defined in the Registration Statement) and ending on the last day of the quarter in which the Initial Closing occurred) will be equal to an annual rate of 1.25% (i.e., 0.3125% quarterly) of the Company’s net assets measured as of the date of the Initial Closing.

• The Purchaser shall deliver cash in the amount of $10,000,000 on the Initial Closing Date; cash in the amount of $5,000,000 on the First Additional Delivery Date; and cash in the amount of $15,000,000 on the Final Additional Delivery Date.

• If a Buyer has not elected to effect an Additional Closing with respect to all of the Additional Optional Notes Amount of such Buyer on or prior to the eighteen-month anniversary of the Initial Closing Date (the “Additional Optional Closing Expiration Date”), such Buyer shall have no further right to effect an Additional Closing hereunder.

More Definitions of Initial Closing

Initial Closing shall have the meaning set forth in Section 3.1.

Initial Closing shall have the meaning specified in Section 7.2(a) hereof.

Initial Closing means the date of the initial sale of shares of the Company’s Series C Preferred Stock pursuant to the Purchase Agreement.

Initial Closing means the first closing of the Offering that will occur after the Minimum Offering is achieved.

Initial Closing has the meaning set forth in Section 3.1 of this Agreement.

Initial Closing has the meaning set forth in the Purchase Agreement.

Initial Closing shall have the meaning assigned thereto in the Master PSA.