Next Equity Financing. The Outstanding Amounts Due will be automatically converted into Conversion Shares upon the closing of the Next Equity Financing. The number of Conversion Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing the Outstanding Amounts Due by the Conversion Price. At least ten (10) days prior to the closing of the Next Equity Financing, the Company shall notify the Foundation in writing of the terms of the Next Equity Financing. Except as otherwise expressly set forth herein, the issuance of Conversion Shares pursuant to the conversion of the Note shall be upon and subject to the same terms and conditions applicable to the Equity Securities sold in the Next Equity Financing.
Appears in 4 contracts
Samples: Note Purchase Agreement, Note Purchase Agreement, Note Purchase Agreement
