Draw Downs. If any Holder effects, pursuant to a Shelf Registration, a public offering of all or a part of its Registrable Securities a shelf "draw-down") and wishes the Company to perform, in connection with such shelf "draw-down," any procedures specified in Section 6(a) hereof in addition to those the Company is otherwise obligated to perform with respect to such Shelf Registration pursuant to Sections 2(a) and 6(a) hereof, such Holder shall deliver to the Company, at least five Business Days before such "draw-down" is to be made, a written notice describing in reasonable detail its proposed offering and requesting the performance of such additional procedures pursuant to this Section 2(d) and such Section 6(a). The Company shall be required to perform such additional procedures in advance of a particular shelf "draw-down" only if such Holder shall have requested such performance as provided above. In addition, the Company shall be required to perform such additional procedures (other than those required under the securities laws) in connection with a particular shelf "draw-down" only if one or more Holders shall have notified the Company pursuant to this Section 2(d) of their intention to offer to the public Registrable Securities with an aggregate market value (on the date the written notice referred to above is delivered) of at least $2 million pursuant to such "draw-down." During the first three years of the Shelf Period a shelf "draw-down" that is an underwritten offering shall constitute a Demand Registration for purposes of the first sentence of Section 3(b).
Draw Downs. Upon the terms and subject to the conditions set forth herein, on any Trading Day during the Commitment Period on which the conditions set forth in Sections 6.2 and 6.3 hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice to IFG. The aggregate number of Draw Down Shares that IFG shall be obligated to purchase pursuant to such Draw Down shall be determined by dividing the relevant portions of the Investment Amount specified in the Draw Down Notice by the corresponding Purchase Prices for each Trading Day during the Draw Down Pricing Period as specified in Section 2.3(c).
Draw Downs. Upon the terms and subject to the conditions set forth herein, on any Trading Day as provided in Section 2.03(b) hereof during the Commitment Period on which the conditions set forth in Section 6.02 and 6.03 hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice, executed by the President, Chairman or Chief Financial Officer of the Company, to the Investor. The aggregate number of Draw Down Shares that the Investor shall be obligated to purchase pursuant to such Draw Down shall be the sum of the Draw Down Shares issuable in respect of each day during the Valuation Period, determined on a daily basis during the applicable Valuation Period in accordance with Section 2.03(c) below (unless Common Shares may not be sold in respect of any Trading Day during the Valuation Period as provided by this Agreement). Each Draw Down will be settled on the applicable Settlement Date following the Draw Down Date.
Draw Downs. As set forth on the Ledger, as of the Original Issue Date, Holder has loaned to the Company an aggregate principal amount of $494,000 (the “Initial Advance”). The Holder agrees to immediately lend such additional cash amounts to the Company as the Company may request from time to time (each a “Draw Down”), up to an aggregate principal amount of $3,000,000 (including the Initial Advance, except for advances in the aggregate principal amount of $317,662.19 which have been converted by the Holder to common stock of the Company) (the “Full Commitment Amount”); provided however, that the Holder shall not be obligated to advance any Draw Down request for an amount less than $100,000, unless such amount represents the remainder of the Full Commitment Amount not yet advanced. All Draw Downs made on account of principal hereof shall be recorded on the Ledger and signed by Holder and the Company where indicated; provided however, that the failure of the Holder to sign the Ledger shall have no effect on the Holder’s obligation to advance any Draw Down. The applicable Repayment Date for each Draw Down shall be the one year anniversary of the date such funds are initially advanced to the Company as indicated on the Ledger; provided however that the Repayment Date for the Initial Advance and any Draw Downs that were made on or before September 30, 2010, shall be November 17, 2012. Simultaneously with the receipt of any Draw Down funds, the Company shall issue to the Holder a Warrant to purchase an amount of shares of Common Stock of the Company equal to the amount of such Draw Down divided by the then applicable Conversion Price (as defined below) and otherwise on the terms and conditions set forth in the Warrant.”
Draw Downs. Upon the terms and subject to the conditions set forth herein, on any Trading Day as provided in Section 2.03(b) hereof during the Commitment Period on which the conditions set forth in Section 6.02 and 6.03 hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice to the Investor. The aggregate number of Draw Down Shares that the Investor shall be obligated to purchase pursuant to such Draw Down shall be determined in accordance with Section 2.03(c). Each Draw Down will be settled on the applicable Settlement Date following the Draw Down Date.
Draw Downs. So long as the Borrower is in compliance with the terms of the Loan Documents, provides 15 days written notice of request for draw down to Lender at the address of Lender set forth above (or as later changed in writing by Lender), and provides Lender with such written notice, a No Adverse Change Certificate in such form and substance acceptable to Lender, Borrower may draw down on this Revolving Facility, sums in increments no smaller than $250,000.00 but in no event sums in excess of aggregate of $2,000,000.00 (when considering all drawn downs made hereunder).
Draw Downs. So long as the Borrower is in compliance with the terms of the Loan Documents, provides written notice of request for draw down to Lender at the address of Lender set forth above (or as later changed in writing by Lender), and provides Lender with such written notice, a No Adverse Change Certificate in such form and substance acceptable to Lender, Borrower may draw down on this Revolving Facility, in no event in excess of $8,250,000 (when considering all draw downs made hereunder).
5. All other terms of the Agreement as amended remain in full force and effect.
Draw Downs. The Note makes available to the Company up to two hundred and eight thousand dollars ($208,000) as a line of credit (“Line of Credit”), which will be drawn upon (“A-2 Draw Down”) by the Company at each date and in such amount (“A-2 Draw Down Amount”) as set forth in the Purchase Agreement, upon the provision of services by the Holder to the Company under and in accordance with the Statement of Work dated on or about the date hereof entered into between the Series A-2 Purchaser and the Company pursuant to that certain Professional Services Agreement dated as of December 19, 2007, as amended by the Amendment to Professional Services Agreement dated on or about the date hereof. At each Draw Down Date, the outstanding aggregate principal amount of the Series A-2 Note shall increase by the applicable Draw Down Amount and a notation shall be made on Schedule I hereto. Any Draw Down of the Line of Credit by the Company is not subject to being re-borrowed after repaid.
Draw Downs. The Borrower may draw down the Facility Amount by sending a communication to the Lender (to the attention of Mr Xxxxx Xxxxxxx Maxi, at the address set out below) signed by Xx Xxxxxx X. Kump and / or Xx Xxxxxx Xxxxxx, or their designees. Such communication must be sent three business days in advance of the day on which it is intended to draw down the funds. Such communication must specify the credit facility amount intended to be drawn down, the draw-down date, the interest period and the funding instructions.
Draw Downs. Upon the terms and subject to the conditions set forth herein, on any Trading Day during the Commitment Period on which the conditions set forth in Sections 6.2 and 6.3 hereof have been satisfied, the Company may exercise a Draw Down by the delivery of a Draw Down Notice to the Buyer. The aggregate number of Draw Down Shares that the Buyer shall be obligated to purchase pursuant to such Draw Down shall be determined by dividing the relevant portions of the Investment Amount specified in the Draw Down Notice by the corresponding Purchase Prices for each Trading Day during the Valuation Period as specified in Section 2.3(c). Each Draw Down shall be divided into three tranches (each, a "Tranche"). The three Tranches within a Draw Down will be settled on the applicable Settlement Dates following the Draw Down Date.
