Financing Transaction. Subject to Section 5(b) of the Note, if, at any time during which the Loan remains outstanding pursuant to the terms of this Agreement the Company consummates a transaction which entails a private or public financing generating gross proceeds of not less than $25.0 million, the then outstanding principal balance and accrued but unpaid interest under the Loan shall be automatically converted into Shares at the Conversion Price up to the Conversion Limitation (if applicable), and the remaining outstanding principal balance and accrued but unpaid interest under the Note, if any, shall be settled in cash pursuant to Section 4(b) of the Note.
Appears in 4 contracts
Samples: Convertible Loan Agreement (Celsius Holdings, Inc.), Convertible Loan Agreement, Convertible Loan Agreement (Celsius Holdings, Inc.)
