Bridge Financings Clause Samples

A Bridge Financings clause outlines the terms under which interim, short-term funding is provided to a company, typically to cover expenses or maintain operations until a larger, more permanent financing round can be completed. This clause specifies the conditions, interest rates, conversion rights, and repayment terms associated with the bridge loan, and may address how the bridge financing interacts with future equity investments. Its core practical function is to ensure the company has access to necessary capital during transitional periods, thereby preventing cash flow interruptions and enabling continued business operations while longer-term funding is secured.
Bridge Financings. 16 4.9 Change in Authorized Number of Board of Directors.................... 16 4.10
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Bridge Financings. The Parties hereby agree and acknowledge that Placement Agent served as placement agent in connection with the Bridge Financings, and that such Bridge Financings are subject to the terms and conditions of the Agreement. Placement Agent and the Company acknowledge that Placement Agent has received all fees and expenses required to be paid under Section 3(a) and (b) of the Original Agreement in connection with the First Bridge and that all fees and expenses required to be paid under Section 3(a) and (b) relating to the Second Bridge shall be paid at the closing of the Private Placement. In addition, the Placement Agent Warrants required to be issued pursuant to Section 4 of the Original Agreement in connection with the Bridge Financings shall be issued on the date that the Placement Agent Warrants required to be issued in connection with the closing of the Private Placement are issued.
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Bridge Financings. (a) As soon as possible between the date hereof and prior to ninety (90) days after the execution of this Agreement, Egenix and/or Pathogenics shall use commercially reasonable efforts to obtain financings in the form of sales of equity securities or debt instruments for an aggregate of $5,000,000 ("Bridge Financing"). Any debt instruments will, subject to market conditions, require interest thereon payable in kind in the form of the Surviving Corporation's common stock. In addition to financing the parties' continuing activities prior to the Closing and as otherwise described in Section 5.7 hereof, up to $600,000 of proceeds of such Bridge Financing may be used immediately to repay and retire certain of Egenix' then outstanding current liabilities, and up to $150,000 of proceeds of such Bridge Financing may used immediately to repay and retire certain of Pathogenics then outstanding current liabilities. (b) Prior to or contemporaneously with the effectiveness of the Merger, the Surviving Corporation will privately offer and sell up to $10,000,000 - $15,000,000 of its capital stock (the "PIPE").
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Bridge Financings. (a) As soon as possible after the date hereof and prior to December 31, 2006, Egenix and/or Pathogenics shall use commercially reasonable efforts to obtain financings in the form of sales of equity securities or debt instruments for an aggregate of $3,400,000 (“Bridge Financing”). Any debt instruments may, subject to market conditions, require interest thereon payable in kind in the form of the Surviving Corporation’s common stock. (b) Prior to or contemporaneously with the effectiveness of the Merger, the Surviving Corporation will privately offer and sell up to $18,000,000 of its capital stock (the “PIPE”). (c) Contemporaneously with the execution of this Agreement, Egenix shall issue to Pathogenics a promissory note in form and substance satisfactory to Pathogenics in the original principal amount of $140,705, bearing interest at the rate of ten percent (10%) per annum. If this Agreement is terminated prior to the Effective Time, such note shall be due and payable on July 31, 2007. If the Merger is consummated, such note shall be automatically extended until December 31, 2007.
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Bridge Financings. Subject to the Company’s achievement of the milestones listed on Schedule IX.1(g), the Company has received or arranged to receive the net proceeds from the Bridge Financings.
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Bridge Financings. The Company agrees that in the event it (a) issues debt convertible into or exchangeable for any class of equity securities or (b) issues debt with associated warrants or other rights exercisable for any class of equity securities, the Company shall first obtain the approval of a majority of the directors then in office (including one representative designated by either the Series A Stock or series B Stock).
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Related to Bridge Financings

  • Bridge Financing The Company shall use its reasonable best efforts to take, or cause to be taken, all actions and do or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or advisable to obtain no later than October 30, 2004 a commitment letter (the “Bridge Financing Commitment Letter”) expiring no earlier than January 30, 2005, from a reputable financial institution in substantially the same form and substance as Exhibit F attached hereto, to provide financing on terms and conditions no less favorable than those described on Exhibit F attached hereto.

  • Financings There are no other financings currently pending or contemplated by the Company.

  • Pre-financing Pre-financing is intended to provide the beneficiary with a float. Where required by the provisions of Article I.4 on pre-financing, the beneficiary shall furnish a financial guarantee from a bank or an approved financial institution established in one of the Member States of the European Union. The guarantor shall stand as first call guarantor and shall not require the Commission to have recourse against the principal debtor (the beneficiary). The financial guarantee shall remain in force until final payments by the Commission match the proportion of the total grant accounted for by pre-financing. The Commission undertakes to release the guarantee within 30 days following that date.

  • Future Financings The Company agrees that neither it, nor any successor or subsidiary of the Company, will consummate any public or private equity or debt financing prior to the consummation of a Business Combination, unless all investors in such financing expressly waive, in writing, any rights in or claims against the Trust Account.

  • Subsequent Financings (a) So long as the Notes remain outstanding, during the period commencing on the Final Closing Date and ending on the date that is twenty-four (24) months following the Final Closing Date, the Company covenants and agrees to promptly notify (in no event later than five (5) days after making or receiving an applicable offer) in writing (a "Rights Notice") each Purchaser of the terms and conditions of any proposed any proposed offer or sale to, or exchange with (or other type of distribution to) any third party (a "Subsequent Financing"), of Common Stock or any securities convertible, exercisable or exchangeable into Common Stock, including convertible debt securities (collectively, the "Financing Securities"). The Rights Notice shall describe, in reasonable detail, the proposed Subsequent Financing, the names and investment amounts of all investors participating in the Subsequent Financing, the proposed closing date of the Subsequent Financing, which shall be within thirty (30) calendar days from the date of the Rights Notice, and all of the terms and conditions thereof and proposed definitive documentation to be entered into in connection therewith. The Rights Notice shall provide each Purchaser an option (the "Rights Option") during the fifteen (15) Trading Days following delivery of the Rights Notice (the "Option Period") to inform the Company whether such Purchaser will purchase up to its pro rata portion of the amount of the securities being offered in such Subsequent Financing on the same, absolute terms and conditions as contemplated by such Subsequent Financing. Each Purchaser shall have an additional five (5) Trading Days to fund the purchase of the securities being offered in such Subsequent Financing. If any Purchaser elects not to participate in such Subsequent Financing, the other Purchasers may participate on a pro-rata basis so long as such participation in the aggregate does not exceed the total amount of the Subsequent Financing. For purposes of this Section, all references to "pro rata" means, for any Purchaser electing to participate in such Subsequent Financing, the percentage obtained by dividing (x) the principal amount of the Notes purchased by such Purchaser at each Closing by (y) the total principal amount of all of the Notes purchased by all of the participating Purchasers at each Closing. Delivery of any Rights Notice constitutes a representation and warranty by the Company that there are no other material terms and conditions, arrangements, agreements or otherwise except for those disclosed in the Rights Notice, to provide additional compensation to any party participating in any proposed Subsequent Financing, including, but not limited to, additional compensation based on changes in the Purchase Price or any type of reset or adjustment of a purchase or conversion price or to issue additional securities at any time after the closing date of a Subsequent Financing. If the Company does not receive notice of exercise of the Rights Option from the Purchasers within the Option Period, the Company shall have the right to close the Subsequent Financing on the scheduled closing date with a third party; provided that all of the material terms and conditions of the closing are the same as those provided to the Purchasers in the Rights Notice. If the closing of the proposed Subsequent Financing does not occur on that date, any closing of the contemplated Subsequent Financing or any other Subsequent Financing shall be subject to all of the provisions of this Section 3.19(a), including, without limitation, the delivery of a new Rights Notice. The provisions of this Section 3.19(a) shall not apply to issuances of securities in a Permitted Financing (as defined below). (b) For purposes of this Agreement, a Permitted Financing (as defined hereinafter) shall not be considered a Subsequent Financing. A "Permitted Financing" shall mean (i) securities issued (other than for cash) in connection with a merger, acquisition, or consolidation, (ii) securities issued pursuant to a bona fide firm underwritten public offering of the Company's securities, (iii) securities issued pursuant to the conversion or exercise of convertible or exercisable securities issued or outstanding on or prior to the date hereof or issued pursuant to this Agreement and the Notes, (iv) the Warrant Shares, (v) securities issued in connection with bona fide strategic license agreements, partnering arrangements or other consulting services so long as such issuances are not for the purpose of raising capital, (vi) Common Stock issued or the issuance or grants of options or warrants to purchase Common Stock to any employer, officer, director or advisor of the Company for a period of two (2) years following the date of this Agreement so long as the exercise price of such options or warrants is greater than $0.75, (vii) any warrants issued to the placement agent and its designees for the transactions contemplated by this Agreement, (viii) the payment of any accrued interest in shares of Common Stock pursuant to the Notes; and (ix) securities issued to CNET Networks, Inc.