Common use of Additional Issuance Date Clause in Contracts

Additional Issuance Date. The term “Additional Issuance Date” shall mean the earlier of (i) the date upon which Licensee has Raised, on a cumulative basis, $10 million through one or more Equity Financings and/or Corporate Transactions, and (ii) the day immediately preceding the consummation of a Liquidation Event; provided, however that if Licensee has Raised an amount equal to or in excess of $10 million on the Initial Issuance Date, as contemplated by Section 3.1.1(b) above, then there shall be no Additional Issuance Date.

Additional Issuance Date. The term “Additional Issuance Date” shall mean the earlier of (i) the date upon which Licensee Company has Raised, on a cumulative basisbasis since April 21, 2009, $10 million through one or more Equity Financings and/or Corporate Transactions, and (ii) the day immediately preceding the consummation of a Liquidation Event; provided, however that if Licensee Company has Raised an amount equal to or in excess of $10 million on the Initial Issuance Effective Date, as contemplated by referenced in Section 3.1.1(b) 3.1.1 above, then there shall be no Additional Issuance Date.