Common use of Future Financings Clause in Contracts

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 11 contracts

Samples: Securities Purchase Agreement (Grom Social Enterprises, Inc.), Securities Purchase Agreement (New Momentum Corp.), Securities Purchase Agreement (Cyber Apps World)

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Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and if the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreementthe Transaction Documents, Note or any document provided by the Purchaser upon notice to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”)by such Purchaser, then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser Purchasers the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (( the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the NoteAcknowledgement.

Appears in 11 contracts

Samples: Securities Purchase Agreement (Vet Online Supply Inc), Securities Purchase Agreement (Carolco Pictures, Inc.), Securities Purchase Agreement (Pura Naturals, Inc.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 9 contracts

Samples: Securities Purchase Agreement (Lingerie Fighting Championships, Inc.), Purchase Agreement (XSport Global, Inc.), Securities Purchase Agreement (XSport Global, Inc.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 5 contracts

Samples: Securities Purchase Agreement (RespireRx Pharmaceuticals Inc.), Securities Purchase Agreement (Kiwa Bio-Tech Products Group Corp), Securities Purchase Agreement (uBid Holdings, Inc./New)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such Such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 4 contracts

Samples: Securities Purchase Agreement (HealthLynked Corp), Securities Purchase Agreement (HealthLynked Corp), Securities Purchase Agreement (Cerebain Biotech Corp.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (( the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such Such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note...

Appears in 4 contracts

Samples: Securities Purchase Agreement (Sincerity Applied Materials Holdings Corp.), Securities Purchase Agreement (Realbiz Media Group, Inc), Securities Purchase Agreement (All for One Media Corp.)

Future Financings. From Except for sales or issuances to Company employees, and members of the Company’s board of directors, from the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Parallax Health Sciences, Inc.), Securities Purchase Agreement (Parallax Health Sciences, Inc.), Securities Purchase Agreement (Parallax Health Sciences, Inc.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock ("Common Stock Equivalents") or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and if the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreementthe Transaction Documents, Note or any document provided by the Purchaser upon notice to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”)by such Purchaser, then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser Purchasers the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (( the "Acknowledgment") within three (3) business days of Company’s 's receipt of request from Purchaser (the "Deadline"), provided that Company’s 's failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the NoteAcknowledgement.

Appears in 3 contracts

Samples: Securities Purchase Agreement (Vet Online Supply Inc), Securities Purchase Agreement (Pura Naturals, Inc.), Securities Purchase Agreement (Cannasys Inc)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three seven (37) business days of Company’s receipt of request from Purchaser if such event occurs during the first one hundred and eighty (180) days from Issue Date, provided however, such Acknowledgement must be delivered within three (3) business days if such event occurs on or at any time after the one hundred and eightieth (180th) day from Issue Date (the “Acknowledgment Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Arista Financial Corp.), Securities Purchase Agreement (Arista Financial Corp.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.. Exhibit 3.13

Appears in 2 contracts

Samples: Securities Purchase Agreement (RDE, Inc.), Securities Purchase Agreement (RDE, Inc.)

Future Financings. From the date hereof until such time as the Purchaser Note is no longer holds any of the Securitiesoutstanding, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 2 contracts

Samples: Securities Purchase Agreement (LGBTQ Loyalty Holdings, Inc.), Securities Purchase Agreement (LGBTQ Loyalty Holdings, Inc.)

Future Financings. From the date hereof until such If Seller, at any time so long as the Purchaser no longer holds any of the SecuritiesNote is outstanding, in the event the Company issues intends to issue or sells sell any shares of Common Stock capital stock, debt securities or securities directly or indirectly convertible into into, exchangeable for or exercisable for Common Stock shares of capital stock or debt securities (“Common Stock Equivalents”a "Financing"), Seller shall give Purchaser written notice (the "Offer") or amends of its intent to engage in a Financing, specifying its basic terms and conditions. If Purchaser gives notice to Seller, specifying Purchaser's basic terms and conditions, of its intent to provide Financing on a basis materially similar to the transaction documents relating proposal set forth in the Offer within five (5) business days after receipt of the Offer (a "Financing Notice"), then Seller shall be obligated to any sale or issuance consummate the Financing only with Purchaser and Purchaser shall be obligated to provide the financing at the time committed by the third party whose commitment gave rise to the Offer. If Purchaser does not within five (5) business days after receipt of Common Stock or Common Stock Equivalentsthe Offer give to Seller a Financing Notice, Purchaser shall be deemed to have waived its rights to provide the Financing under this Section, and Seller may thereafter obtain such Financing from a third party or parties if such third party Financing is on the Purchaser reasonably believes that the same basic terms and conditions thereunder are more favorable to such investors as those set forth in the Offer. Any proposed Financing on terms materially different from those basic terms and conditions granted under in the Offer deemed waived by Purchaser shall require a new Offer and compliance by Seller with the provisions of this AgreementSection. Notwithstanding the foregoing, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser Seller shall not be required to provide any notice to comply with this Section in connection with: (i) the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such issuance and sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment convertible securities in connection with any employee stock option plan, arrangement or agreement now or hereafter in effect; (ii) the issuance of such automatic amendment to capital stock of Seller upon exercise of the Transaction Documents Warrants or otherwise issued to Purchaser or its assigns; (iii) the issuance of capital stock upon exercise of any stock purchase warrant or option (other than the options referred to in form and substance reasonably satisfactory to clause (i) above) or other convertible security outstanding on the Purchaser date hereof or hereafter issued; (iv) a public offering of securities; (v) any loan from a regular commercial lending source; or (vi) any securities issued with the “Acknowledgment”) within three (3) business days favorable vote of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day Purchaser's designee as a director of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the NoteSeller.

Appears in 2 contracts

Samples: Agreement for Purchase and Sale (Black Warrior Wireline Corp), Agreement for Purchase and Sale (Black Warrior Wireline Corp)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder Purchaser by the first day of the month following the month in which it has accrued or, at the option of the HolderPurchaser, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (Lingerie Fighting Championships, Inc.)

Future Financings. From Subject to the date hereof until terms hereinafter provided, the Corporation hereby grants a right to the Agent to participate with a significant title in the Corporation’s future equity financings on such time terms as the Purchaser no longer holds any Corporation and the Agent may mutually agree upon, in each of the Securitiesofferings. For the purposes of this agreement, in the event the Company issues or sells any shares “equity financings” shall include all offerings of Common Stock Shares or securities directly or indirectly convertible into or exercisable exchangeable for Common Stock Shares. The Corporation covenants and agrees that it will give not less than five (“Common Stock Equivalents”5 ) Business Days notice in writing to the Agent of any decision made by the Corporation to effect, complete, or amends the transaction documents relating enter into any agreement to any sale effect or issuance of Common Stock or Common Stock Equivalentscomplete an equity financing, and to provide the Purchaser reasonably believes Agent the right, during the five (5) Business Days, to agree with the Corporation on the terms of the Agent’s engagement to participate in such equity financing. If the Agent does not exercise its rights hereunder, or if the Corporation and the Agent are unable to agree upon the terms of the proposed equity financing within such five (5) Business Days, then the Corporation may, for a period of 60 days, proceed with the equity financing through any other agent or underwriter, as the case may be, without the Agent’s participation, provided that the terms and conditions thereunder of such equity financing are not more favorable favourable to any such investors agent or underwriter and/or more favourable to any investor or subscriber of the securities to be offered pursuant to the proposed equity financing, as the case may be, than the terms and conditions granted under this Agreement, Note or any document provided proposed in writing by the Purchaser Corporation to the Company relating Agent or offered by the agent to any sale the Corporation. The right of participation granted by the Corporation to the Agent in this Section 20 shall terminate on the earliest of: (i) November 15, 2006; (ii) the date that the Corporation completes a Going Public Transaction (as defined in the Agent’s Warrant certificate); (iii) in the event that the Agent fails to exercise its right of participation hereunder or issuance if the Corporation and the Agent are unable to agree upon the terms and conditions of Common Stock (the “Transaction Documents”)proposed equity financing and, then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubtin either case, the Purchaser shall not Corporation completes such proposed equity financing with another agent or underwriter, as applicable; and (iv) the date on which Xxxx X. Xxxxx ceases to be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance employed with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the NoteAgent.

Appears in 1 contract

Samples: Agency Agreement (Surge Global Energy, Inc.)

Future Financings. From Notwithstanding the terms of Section 4(o) contained herein, from the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and if the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreementthe Transaction Documents, Note or any document provided by the Purchaser upon notice to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”)by such Purchaser, then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser Purchasers the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (( the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the NoteAcknowledgement.

Appears in 1 contract

Samples: Securities Purchase Agreement (Petrone Worldwide, Inc.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms terns of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (NanoFlex Power Corp)

Future Financings. From Except for (i) those transactions contemplated by the date hereof until such time Company and Rose Xxxx Xxxital Management, L.P. and certain other investors pursuant to which the Company intends to complete a private placement of Common Stock (as the Purchaser no longer holds any described in Schedule 2.1(c) hereto); (ii) issuance of the Securities, in the event the Company issues or sells any Underlying Shares; (iii) shares of Common Stock deemed to have been issued by the Company in connection with any contract, plan or agreement which has been approved by the Board of Directors of the Company, pursuant to which the Company's securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating may be issued to any sale employee, officer, director or issuance consultant of the Company; (iv) shares of Common Stock issuable upon the exercise of any options or Common Stock Equivalents, warrants outstanding on the date hereof and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance listed in Schedule 2.1(c) hereto; (v) shares of Common Stock issued or deemed to have been issued in a Strategic Venture (as defined below); or (vi) shares of Common Stock issued or deemed to have been issued as consideration for an acquisition by the “Transaction Documents”)Company of a division, then at assets or business (or stock constituting any portion thereof) from another person, if the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as Company agrees to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice issue Securities prior to the Company with respect to such more favorable terms or conditions). Promptly following a request first anniversary of the Tranche A Closing Date at an effective price per share of less than an amount equal to the CompanyConversion Price (as defined in the Debentures) of the Debentures as of the date hereof and Debentures are still then outstanding (a "Future Financing"), the Company shall provide by 5:00 p.m. (New York time) on the third (3rd) Trading Day after the decision to issue the Securities has been made, written notice of the Future Financing containing in reasonable detail (i) the proposed terms of the Future Financing, (ii) the amount of the proceeds that will be raised and (iii) the Person with whom such Future Financing shall be effected, and attached to which shall be a term sheet or similar document relating thereto (the "Future Financing Notice"). Upon receiving the Future Financing Notice, each Purchaser with all executed transaction documents relating shall have the pro rata right to purchase, on the same terms as the Future Financing, an amount of Securities not to exceed the sum of (i) the number of Securities which may be purchased by the amount of the then outstanding principal amount of and any interest owing on such sale or issue Purchaser's Debenture and (ii) the number of Securities which is the product of the Exercise Price (as defined in the Warrants) multiplied by that number of shares of Common Stock underlying the Warrant. In the event a Purchaser desires to exercise the right granted under this Section 3.9, such Purchaser must notify the Company on or Common Stock Equivalentsprior to the fifth (5th) Trading Day after the Purchaser has received the Future Financing Notice. In the event one or more Purchasers elects not to exercise its rights granted hereby, the Company shall deliver acknowledgment permit those Purchasers electing to exercise the right granted under this Section 3.9 to purchase, on a basis equal to its percentage ownership of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to then aggregate outstanding principal of the Purchaser (Debentures, the “Acknowledgment”) within three (3) business days sum of Company’s receipt the number of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline Securities that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.other Purchaser(s) were eligible to

Appears in 1 contract

Samples: Securities Purchase Agreement (Geron Corporation)

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Future Financings. From a. Except for issuance of (i) the Underlying Shares, (ii) shares of Common Stock deemed to have been issued by the Company in connection with any plan which has been approved by the Board of Directors of the Company, pursuant to which the Company's securities may be issued to any employee, officer, director or consultant of the Company, (iii) shares of Common Stock issuable upon the exercise of any options or warrants outstanding on the date hereof until such time and listed in SCHEDULE 2.1(c) hereto, (iv) shares of Common Stock issued or deemed to have been issued as consideration for an acquisition by the Purchaser no longer holds Company of a division, assets or business (or stock constituting any portion thereof) from another Person, (v) shares of Common Stock issuable pursuant to any event for which an adjustment to the Conversion Price is required pursuant to Section 4.5 of the SecuritiesDebenture, in the event (vi) any other shares of Common Stock issued for which the Company issues receives no consideration, or sells any (vii) shares of Common Stock or other securities directly or indirectly convertible into or exchangeable or exercisable for Common Stock issued in an offering registered under the Securities Act, if the Company agrees to issue shares of Common Stock or other securities convertible into or exchangeable or exercisable for Common Stock (“Common Stock Equivalents”the "NEW SECURITY") or amends the transaction documents relating to while any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder Debentures are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock outstanding (the “Transaction Documents”a "FUTURE FINANCING"), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents Purchasers written notice of the Future Financing containing in reasonable detail (i) the proposed terms of the Future Financing, (ii) the amount of the proceeds that will be raised and (iii) the Person with whom such Future Financing shall be effected, and attached to Purchaser in form and substance reasonably satisfactory to the Purchaser which shall be a term sheet or similar document relating thereto (the “Acknowledgment”) within three "FUTURE FINANCING NOTICE"). Upon receiving the Future Financing Notice, each Purchaser shall have the pro rata right (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to based on the principal amount of the NoteDebentures held by such Purchaser relative to the aggregate principal amount of Debentures outstanding) to purchase, on the same terms as the Future Financing, that percentage of the New Securities equal to (i) the sum of (x) the number of shares of Common Stock which may be purchased upon conversion by the amount of the then outstanding principal amount of such Purchaser's Security plus (y) the number of shares of Common Stock underlying the Purchaser's outstanding Warrants divided by (ii) the aggregate number of shares of Common Stock outstanding on a fully diluted basis immediately prior to the issuance of the New Securities. In the event the terms and conditions of a proposed Future Financing are amended in any respect after delivery of the Future Financing Notice but prior to the closing of the proposed Future Financing to which event interest such Future Financing Notice relates, the Company shall accrue thereon deliver a new notice to each Purchaser describing the amended terms and conditions of the proposed Future Financing and each Purchaser thereafter shall have an option during the two (2) Trading Day period following delivery of such new notice to purchase its pro rata share (in accordance with the terms hereof) of the Note New Securities being offered on the same terms as contemplated by such proposed Future Financing, as amended. The foregoing sentence shall apply to successive amendments to the terms and conditions of any proposed Future Financing. Those Purchasers desiring to purchase additional shares of Common Stock must notify the Company of their intention to do so within five (5) Trading Days after the Company has informed the Purchasers of their right to purchase additional shares of Common Stock. Within five (5) Trading Days of the termination of the final notice period, the transactions contemplated by this Section 3.9 shall close, subject to the completion of mutually satisfactory documentation, and the Company shall tender to each Purchaser certificates representing the New Securities that it agreed to purchase and the Purchasers shall make payment for the entire purchase price in immediately available funds at the closing of such additional sale; PROVIDED, HOWEVER, that each Purchaser, in lieu of providing cash as consideration for the purchase price, may retire all or a portion of the outstanding principal amount shall be convertible into Common Stock in accordance with of and any interest owing on the terms of the Note.Debentures as

Appears in 1 contract

Samples: Securities Purchase Agreement (Igen International Inc /De)

Future Financings. From the date hereof until such If Seller, at any time so long as the Purchaser no longer holds any of the SecuritiesNote is outstanding, in the event the Company issues intends to issue or sells sell any shares of Common Stock capital stock, debt securities or securities directly or indirectly convertible into into, exchangeable for or exercisable for Common Stock shares of capital stock or debt securities (“Common Stock Equivalents”a "Financing"), Seller shall give Purchaser written notice (the "Offer") or amends of its intent to engage in a Financing, specifying its basic terms and conditions. If Purchaser gives notice to Seller, specifying Purchaser's basic terms and conditions, of its intent to provide Financing on a basis materially similar to the transaction documents relating proposal set forth in the Offer within five (5) business days after receipt of the Offer (a "Financing Notice"), then Seller shall be obligated to any sale or issuance consummate the Financing only with Purchaser and Purchaser shall be obligated to provide the financing at the time committed by the third party whose commitment gave rise to the Offer. If Purchaser does not within five (5) business days after receipt of Common Stock or Common Stock Equivalentsthe Offer give to Seller a Financing Notice, Purchaser shall be deemed to have waived their rights to provide the Financing under this Section, and Seller may thereafter obtain such Financing from a third party or parties if such third party Financing is on the Purchaser reasonably believes that the same basic terms and conditions thereunder are more favorable to such investors as those set forth in the Offer. Any proposed Financing on terms materially different from those basic terms and conditions granted under in the Offer deemed waived by Purchaser shall require a new Offer and compliance by Seller with the provisions of this AgreementSection. Notwithstanding the foregoing, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser Seller shall not be required to provide any notice to comply with this Section in connection with: (i) the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such issuance and sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment convertible securities in connection with any employee stock option plan, arrangement or agreement now or hereafter in effect; (ii) the issuance of such automatic amendment to capital stock of Seller upon exercise of the Transaction Documents Warrants or otherwise issued to Purchaser or their assigns; (iii) the issuance of capital stock upon exercise of any stock purchase warrant or option (other than the options referred to in form and substance reasonably satisfactory to clause (i) above) or other convertible security outstanding on the Purchaser date hereof or hereafter issued; (the “Acknowledgment”iv) within three a public offering of securities; or (3v) business days of Company’s receipt of request any loan from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Notea regular commercial lending source.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Black Warrior Wireline Corp)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note the Note, the Warrant or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 100.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note. Notwithstanding the foregoing, an offering pursuant to an equity line arrangement and any related registration statement and an offering on Form 1-A (Regulation A Offering) shall be excepted from this Section 4(m).

Appears in 1 contract

Samples: Securities Purchase Agreement (RespireRx Pharmaceuticals Inc.)

Future Financings. From the date hereof April 1, 2021, until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (Digital Development Partners, Inc.)

Future Financings. From the date hereof until such time as as the Purchaser Note is no longer holds any of the Securitiesoutstanding, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such Such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (nFusz, Inc.)

Future Financings. From Except for (i) those transactions contemplated by the date hereof until such time Company and Rose Xxxx Xxxital Management, L.P. and certain other investors pursuant to which the Company intends to complete a private placement of Common Stock (as the Purchaser no longer holds any described in Schedule 2.1(c) hereto); (ii) issuance of the Securities, in the event the Company issues or sells any Underlying Shares; (iii) shares of Common Stock deemed to have been issued by the Company in connection with any contract, plan or agreement which has been approved by the Board of Directors of the Company, pursuant to which the Company's securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating may be issued to any sale employee, officer, director or issuance consultant of the Company; (iv) shares of Common Stock issuable upon the exercise of any options or Common Stock Equivalents, warrants outstanding on the date hereof and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance listed in Schedule 2.1(c) hereto; (v) shares of Common Stock issued or deemed to have been issued in a Strategic Venture (as defined below); or (vi) shares of Common Stock issued or deemed to have been issued as consideration for an acquisition by the “Transaction Documents”)Company of a division, then at assets or business (or stock constituting any portion thereof) from another person, if the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as Company agrees to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice issue Securities prior to the Company with respect to such more favorable terms or conditions). Promptly following a request first anniversary of the Tranche A Closing Date at an effective price per share of less than an amount equal to the CompanyConversion Price (as defined in the Debentures) of the Debentures as of the date hereof and Debentures are still then outstanding (a "Future Financing"), the Company shall provide by 5:00 p.m. (New York time) on the third (3rd) Trading Day after the decision to issue the Securities has been made, written notice of the Future Financing containing in reasonable detail (i) the proposed terms of the Future Financing, (ii) the amount of the proceeds that will be raised and (iii) the Person with whom such Future Financing shall be effected, and attached to which shall be a term sheet or similar document relating thereto (the "Future Financing Notice"). Upon receiving the Future Financing Notice, each Purchaser with all executed transaction documents relating shall have the pro rata right to purchase, on the same terms as the Future Financing, an amount of Securities not to exceed the sum of (i) the number of Securities which may be purchased by the amount of the then outstanding principal amount of and any interest owing on such sale or issue Purchaser's Debenture and (ii) the number of Securities which is the product of the Exercise Price (as defined in the Warrants) multiplied by that number of shares of Common Stock underlying the Warrant. In the event a Purchaser desires to exercise the right granted under this Section 3.9, such Purchaser must notify the Company on or Common Stock Equivalentsprior to the fifth (5th) Trading Day after the Purchaser has received the Future Financing Notice. In the event one or more Purchasers elects not to exercise its rights granted hereby, the Company shall deliver acknowledgment permit those Purchasers electing to exercise the right granted under this Section 3.9 to purchase, on a basis equal to its percentage ownership of such automatic amendment the then aggregate outstanding principal of the Debentures, the sum of the number of Securities that the other Purchaser(s) were eligible to Purchase, if they had exercised their right hereunder. Those Purchasers desiring to purchase additional Securities must notify the Transaction Documents Company of their intention to Purchaser in form and substance reasonably satisfactory to the Purchaser (the “Acknowledgment”) do so within three (3) business days Trading Days after the Company has informed the Purchasers of Company’s receipt their right to purchase additional Securities. Within five (5) Trading Days of request from Purchaser (the “Deadline”)termination of the final notice period, provided that Company’s failure to timely provide the Acknowledgement transactions contemplated by this Section 3.9 shall not affect close and the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay tender to the each Purchaser $1,000.00 per day in cash, for each day beyond the Deadline certificates representing that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day number of the month following Securities that it agreed to purchase and the month in which it has accrued or, at Purchasers shall make payment for the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.entire purchase price in

Appears in 1 contract

Samples: Securities Purchase Agreement (Geron Corporation)

Future Financings. From As long as any Shares are outstanding, except for (i) shares of Common Stock deemed to have been issued by the Company in connection with any plan which has been approved by the Board of Directors of the Company, pursuant to which the Company's securities may be issued to any employee, officer, director or consultant of the Company; (ii) shares of Common Stock issuable upon the exercise of any options or warrants outstanding on the date hereof until such time as and listed in Schedule 2.1(c) hereto; or (iii) shares of Common Stock issued in connection with the Purchaser no longer holds any Company's merger transactions with Insurdata Incorporated, Provident or a subsidiary of the SecuritiesProvident, in the event if the Company issues or sells any agrees to issue shares of Common Stock or other securities directly or indirectly convertible into or exchangeable or exercisable for Common Stock (“Common Stock Equivalents”any of (i), (ii) or amends (iii), the transaction documents relating to any sale or issuance "New Security") at an effective price per share of Common Stock which is less or may be less (including, without limitation, any security which is convertible into or exchangeable or exercisable for Common Stock Equivalents, and at a price which may change with the Purchaser reasonably believes that market price of the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock Stock) than $15.00 per share (the “Transaction Documents”a "Future Financing"), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents Purchasers by 5:00 p.m. (New York time) on or before the third (3rd) Business Day (as defined below) after the decision to Purchaser issue the New Security has been made, written notice of the Future Financing containing in form reasonable detail (i) the proposed terms of the Future Financing, (ii) the amount of the proceeds that will be raised and substance reasonably satisfactory (iii) the Person with whom such Future Financing shall be effected, and attached to the Purchaser which shall be a term sheet or similar document relating thereto (the “Acknowledgment”) within three "Future Financing Notice"). Upon receiving the Future Financing Notice, each Purchaser shall have the pro rata right (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to based on the principal amount of the NoteShares held by such Purchaser relative to the aggregate principal amount of Shares purchased hereunder) to purchase, in on the same terms as the Future Financing, an amount of New Securities having a purchase price which shall not exceed the aggregate investment by such Purchaser hereunder. In the event interest shall accrue thereon in accordance with a Purchaser desires to exercise the right granted under this Section 3.15, such Purchaser must notify the Company on or prior to the fifth (5th) Business Day after such Purchaser has received the Future Financing Notice. In the event the terms and conditions of a proposed Future Financing are amended in any respect after delivery of the Note Future Financing Notice but prior to the closing of the proposed Future Financing to which such Future Financing Notice relates, the Company shall deliver a new notice to each Purchaser describing the amended terms and conditions of the proposed Future Financing and each Purchaser thereafter shall have an option during the five (5) Business Days period following delivery of such additional new notice to purchase its pro rata share (based on the Purchaser's percentage of the principal amount such Purchaser's investment hereunder) of the New Securities being offered on the same terms as contemplated by such proposed Future Financing, as amended. The foregoing sentence shall be convertible into Common Stock in accordance with apply to successive amendments to the terms and conditions of any proposed Future Financing. At the Noteclosing for such Future Financing, the transactions contemplated by this Section 3.15 shall close, subject to the completion of mutually satisfactory documentation, and the Company shall tender to each Purchaser certificates representing the New Securities that it agreed to purchase and the Purchasers shall make payment for the entire purchase price in immediately available funds at the closing of such sale.

Appears in 1 contract

Samples: Securities Purchase Agreement (Provident American Corp)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and if the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreementthe Transaction Documents, Note or any document provided by the Purchaser upon notice to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”)by such Purchaser, then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser Purchasers the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (( the “Acknowledgment”) within three (3) business days of Company’s 's receipt of request from Purchaser (the “Deadline”), provided that Company’s 's failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the NoteAcknowledgement.

Appears in 1 contract

Samples: Securities Purchase Agreement (NightFood Holdings, Inc.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended to be identical to the Transaction Documents so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably SPA – ASTI, T1, 2018-08-29 satisfactory to the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (Ascent Solar Technologies, Inc.)

Future Financings. From the date hereof until such time as the Purchaser no longer holds any of the Securities, in the event the Company issues or sells any shares of Common Stock or securities directly or indirectly convertible into or exercisable for Common Stock (“Common Stock Equivalents”) or amends the transaction documents relating to any sale or issuance of Common Stock or Common Stock Equivalents, and the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock (the “Transaction Documents”), then at upon notice to the Company by such Purchaser’s option , the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, Company the Company shall provide Purchaser with all executed transaction documents relating to any such sale or issue of Common Stock or Common Stock Equivalents. Company shall deliver acknowledgment of such automatic amendment to the Transaction Documents to Purchaser in form and substance reasonably satisfactory to the Purchaser (( the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”), provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 1000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such Such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (NanoFlex Power Corp)

Future Financings. From At any time prior to the date hereof until such time as the Purchaser no longer holds any third anniversary of the Securities----------------- Closing Date, as long as shares of the Preferred Stock are outstanding, except for (i) Exempted Securities as defined in the event Certificate of Designation; or (ii) shares issued in a transaction registered under the Securities Act, if the Company issues or sells any agrees to issue shares of Common Stock or other securities directly or indirectly convertible into or exchangeable or exercisable for Common Stock (the "New Security") while ------------ any shares of Preferred Stock are outstanding at an effective price per share which is less (including, without limitation, any security which is convertible into or exchangeable or exercisable for Common Stock Equivalents”at a price which may change with the market price of the Common Stock) or amends than the transaction documents relating to any sale or issuance Conversion Price (as defined in the Certificate of Common Designation) of the shares of Preferred Stock or Common Stock Equivalents, and as of the Purchaser reasonably believes that the terms and conditions thereunder are more favorable to such investors as the terms and conditions granted under this Agreement, Note or any document provided by the Purchaser to the Company relating to any sale or issuance of Common Stock date thereof (the “Transaction Documents”a "Future Financing"), then at the Purchaser’s option the Transaction Documents shall be deemed automatically amended so as to give the Purchaser the benefit of such more favorable terms or conditions (for the avoidance of doubt, the Purchaser shall not be required to provide any notice to the Company with respect to such more favorable terms or conditions). Promptly following a request to the Company, the Company shall provide to the Purchasers ---------------- by 5:00 p.m. (New York time) on or before the third (3/rd/) Trading Day (as defined below) after the decision to issue the New Security has been made, written notice of the Future Financing containing in reasonable detail (i) the proposed terms of the Future Financing, (ii) the amount of the proceeds that will be raised and (iii) the Person with whom such Future Financing shall be effected, and attached to which shall be a term sheet or similar document relating thereto (the "Future Financing Notice"). Upon receiving the Future ----------------------- Financing Notice, each Purchaser with all executed transaction documents relating shall have the pro rata right (based on the purchase price of the shares of Preferred Stock held by such Purchaser relative to the aggregate purchase price of shares of Preferred Stock outstanding) to purchase, on the same terms as the Future Financing, an amount of New Securities (in addition to the New Securities being issued in the Future Financing) having a purchase price which shall not exceed the aggregate purchase price of the New Securities being issued in the Future Financing. In the event a Purchaser desires to exercise the right granted under this Section 3.9, such Purchaser must notify the Company on or prior to the fifth (5/th/)Trading Day after such Purchaser has received the Future Financing Notice. In the event the terms and conditions of a proposed Future Financing are amended in any material respect after delivery of the Future Financing Notice but prior to the closing of the proposed Future Financing to which such sale or issue of Common Stock or Common Stock Equivalents. Future Financing Notice relates, the Company shall deliver acknowledgment a new notice to each Purchaser describing the amended terms and conditions of the proposed Future Financing and each Purchaser thereafter shall have an option during the two (2) Trading Days period following delivery of such automatic amendment new notice to purchase its pro rata share (based on the Purchaser's percentage of the aggregate purchase price of the outstanding shares of Preferred Stock such Purchaser owns) of the New Securities being offered on the same terms as contemplated by such proposed Future Financing, as amended, or to withdraw its election to exercise such right. The foregoing sentence shall apply to successive amendments to the Transaction Documents to Purchaser in form terms and substance reasonably satisfactory to conditions of any proposed Future Financing. At the Purchaser (the “Acknowledgment”) within three (3) business days of Company’s receipt of request from Purchaser (the “Deadline”)closing for such Future Financing, provided that Company’s failure to timely provide the Acknowledgement shall not affect the automatic amendments contemplated hereby. If the Acknowledgement is not delivered by the Deadline, Company shall pay to the Purchaser $1,000.00 per day in cash, for each day beyond the Deadline that the Company fails to deliver such Acknowledgement such cash amount shall be paid to Holder by the first day of the month following the month in which it has accrued or, at the option of the Holder, shall be added to the principal amount of the Note, in which event interest shall accrue thereon in accordance with the terms of the Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of the Note.the

Appears in 1 contract

Samples: Securities Purchase Agreement (Satcon Technology Corp)

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