Bridge Loan Transaction Sample Clauses

Bridge Loan Transaction. The Company represents and warrants to the Purchaser as follows: 2.1.1 The Company is entering into this Agreement to provide bridge financing for the Company through December 31, 2012 while it seeks to secure a greater amount and more permanent funds through one or more additional financing transactions; 2.1.2 The Note may be repaid prior to its maturity using the proceeds of such additional financing transactions or may be converted into equity of the Company as per the terms of the Note; 2.1.3 If the Purchaser is a party to any such additional financing transaction, the Company and the Purchaser may mutually agree to restructure the Note as part of such additional financing transaction. 2.1.4 Until such time as the Note is repaid in full in accordance with its terms, the Company will concurrently with the closing of any additional financing transaction that raises $3,000,000 or more for the Company immediately use the proceeds from such additional financing transaction to pay the Purchaser any remaining balance on the Note regardless of the Maturity Date of the Note.

Bridge Loan Transaction. The parties contemplate that prior to the Effective Time, Isolagen shall have consummated and received the proceeds from a bridge loan transaction with certain accredited investors in the principal amount of up to Three Hundred Thousand and No/100 Dollars ($300,000) (the "BRIDGE LOAN TRANSACTION").