Initial Financing. The Partnership approves borrowing pursuant to the Mortgage Loan. The Mortgage Loan is secured by a first-priority mortgage lien on the Project. General Partner shall deliver (or cause to be delivered to Limited Partner) to the Limited Partner all notices, correspondence, and information delivered by the holder (or servicer) of the Mortgage Loan to the Partnership.
Initial Financing. The Parent shall have received fully executed subscription agreements with respect to a common stock offering pursuant to Rule 506 of the Securities Act in the aggregate amount of at least Two Million Dollars (US$2,000,000) (the “Proceeds”) at $0.25 per share of common stock of the Parent (the “Initial Financing”).
Initial Financing. Neither Parent nor Buyer nor any Affiliate or agent of Parent or Buyer has disclosed or will disclose any information regarding the Company or has made or will make any representation regarding the Company to any potential investor in the Initial Financing (as such term is defined in Section 5.1(c) herein) except for written information or representations provided by Company or Seller to Parent and specifically authorized in writing by Company or Seller for disclosure to a potential investor in the Initial Financing.
Initial Financing. The Parent shall have received fully executed subscription agreements with respect to a common stock offering pursuant to Rule 506 of the Securities Act in the aggregate amount of at least Two Million Five Hundred Thousand Dollars (US$2,500,000)(the “Proceeds”) at $0.25 per share of common stock of the Parent (the “Initial Financing”). The Proceeds (less expenses incurred in the Initial Financing) shall be in an escrow account pending release to the Parent upon the Closing. All such subscription agreements shall be with Accredited Investors only (as such term is defined under the Securities Act).
Initial Financing. Upon the Effective Date, Developer shall have either obtained the Initial Financing or shall at all times thereafter diligently pursue obtaining the Initial Financing.
Initial Financing. The closings under the LTC Note Purchase Agreements with respect to the purchase of not less than $5,000,000 in the aggregate principal amount of the LTC Notes shall have been consummated prior to or contemporaneously with the Closing.
Initial Financing. Subject to Section 6.4, if and when necessary, the Parties shall use their best efforts to arrange a credit or overdraft facility on behalf of the Company with a bank in Singapore acceptable to the Board.
Initial Financing. (a) As consideration for Huntingdon Corporation ("Huntingdon") advancing to the Company an aggregate of $1,000,000 through the date hereof (collectively, the "Initial Financing") for working capital purposes, on the date hereof, the Company shall deliver to Huntingdon a $1,000,000 principal amount convertible senior promissory note secured by all of the assets (other than cash, accounts receivable and inventory) of the Company and containing such other terms as set forth in Exhibit B annexed hereto (the "Initial Financing Note").
(b) As further consideration for the Initial Financing, on the date hereof, the Company shall issue to Huntingdon warrants to purchase up to 250,000 shares of common stock, no par value, of the Company (the "Common Stock") at an initial exercise price of $2.00 per share pursuant to a warrant agreement (the "Warrant Agreement") in the form of Exhibit C annexed hereto (the "Initial Financing Warrants").
Initial Financing. Concurrently with the closing under the Stock Purchase Agreement and as specified in the Subscription Agreement, dated as of the date hereof, by and among the Initial Members and the Company (the "Subscription Agreement"), each Initial Member shall contribute the "Members Capital Contribution" set forth opposite its name on Schedule I to this Agreement (which shall be updated and filled in concurrently with the delivery, pursuant to the terms of the Subscription Agreement, of Exhibit A to the Subscription Agreement. If any Member fails to contribute its pro-rata amount (a "Defaulting Member"), then the other Member may, if it has contributed the amount requested to be contributed by such Member pursuant to this Section 4.1, contribute an additional amount up to the full amount which the Defaulting Member failed to contribute and this Agreement shall automatically terminate and be of no further force or effect.
Initial Financing. AbPro shall contribute at least Five Million Dollars (USD $5MM) (“Initial Financing”) to Company (which may be contributed in one or more installments, provided that the first installment shall be in an amount of at least One Million Dollars (USD $1MM) and shall be contributed within [*] of the Effective Date and provided further that a total of Two Million and Five Hundred Thousand Dollars (USD $2.5MM) shall be contributed by [*]) in exchange for shares (the “AbPro Preferred Shares”) of the Series A Preferred Stock, par value $$0.001 per share, of Company (the “Convertible Preferred Stock”). The proceeds of such contribution shall be used by Company to perform the Research Plan.
