Additional Capital Raise Sample Clauses
The 'Additional Capital Raise' clause defines the terms and conditions under which a company may seek to raise further funds beyond the initial investment round. Typically, this clause outlines the process for notifying existing investors, their rights to participate in the new funding round (such as pre-emptive rights), and any limitations or requirements for the new capital raise, such as pricing or investor qualifications. Its core practical function is to provide a clear framework for future fundraising, ensuring transparency and protecting the interests of current investors by giving them an opportunity to maintain their ownership percentage or influence in the company.
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Additional Capital Raise. The Sponsor or one or more other parent companies of Borrower shall, on or prior to July 30, 2021, (i) complete a financing transaction in an aggregate amount equal to at least $35,000,000 (excluding both the “Lender Amendment & Consent Premium” and the “COMA Reimbursement,” as those terms are defined in that certain Amendment No. 3 to Credit Agreement, dated March 26, 2021) (the “Additional Capital Raise”), and (ii) cause $35,000,000 of the Additional Capital Raise to be deposited into the Cash Reserve Account. In connection with the Additional Capital Raise, the Sponsor or one or more parent companies of the Borrower on or before April 30, 2021 shall (i) have engaged a placement agent and/or underwriter reasonably acceptable to the Administrative Agent, and (ii) have presented to the Administrative Agent evidence of a financing plan reasonably acceptable to the Administrative Agent (including the filing of a Form S-1 Registration Statement with the United States Securities and Exchange Commission or the execution of an agreement for an alternate non-public sale of securities). Failure to comply strictly with the deadlines in this Section shall be an Event of Default by Borrower under this Agreement.
Additional Capital Raise. The Sponsor or one or more other parent companies of Borrower shall, on or prior to July 30, 2021, (i) complete a financing transaction in an aggregate amount equal to at least $35,000,000 (excluding both the “Lender Amendment & Consent Premium” and the “COMA Reimbursement,” as those terms are defined in that certain Consent No. 2 and Amendment No. 2 to Credit Agreement, dated March 26, 2021) (the “Additional Capital Raise”), and (ii) cause $35,000,000 of the Additional Capital Raise to be contributed to the OpCo Borrower to be deposited into the Cash Reserve Account (as defined in the OpCo Senior Credit Agreement). In connection with the Additional Capital Raise, the Sponsor or one or more parent companies of the Borrower on or before April 30, 2021 shall (i) have engaged a placement agent and/or underwriter reasonably acceptable to the Administrative Agent, and (ii) have presented to the Administrative Agent evidence of a financing plan reasonably acceptable to the Administrative Agent (including the filing of a Form S-1 Registration Statement with the United States Securities and Exchange Commission or the execution of an agreement for an alternate non-public sale of securities). Failure to comply strictly with the deadlines in this Section shall be an Event of Default by Borrower under this Agreement.
Additional Capital Raise. The Loan Parties shall (i) as promptly as reasonably practicable, but in any event on or prior to December 31, 2022, complete an Additional Capital Raise in an aggregate amount equal to at least $10,000,000 (such additional capital raise, the “Required 1st Additional Capital Raise”), (ii) as promptly as reasonably practicable, but in any event on or prior to March 31, 2023, complete an Additional Capital Raise in an aggregate amount equal to at least $20,000,000 (taking into account the amount of the Additional Capital Raise referenced in subclause (i) above) (such additional capital raise, the “Required 2nd Additional Capital Raise”), and (iii) cause any Required 1st Additional Capital Raise and Required 2nd Additional Capital Raise (up to a cap of $20,000,000 in the aggregate) to be deposited into the Construction Account.
Additional Capital Raise. By CCBI under the circumstances specified in Section 4.02 in connection with a determination by the Calnet Board to raise additional capital prior to the Closing pursuant to the Formal Agreement.
Additional Capital Raise. The Chief Financial Officer of the Company shall provide a certification to the effect that, after the date hereof and prior to June 30, 2022, the Company has raised at least $15,000,000 in gross offering proceeds from the sale of capital stock (excluding the proceeds from the Initial Closing) (the “Funding Threshold”). To the extent that issuances of Preferred Stock are included in achieving the Funding Threshold, such securities shall be junior or pari passu to the Series X Convertible Preferred Stock.