Pre-Paid Advance. Subject to the satisfaction of the conditions set forth in Annex II attached hereto, the Investor shall advance to the Company $1,100,000 (after deducting any discounts set forth herein) (the “Pre-Paid Advance”). The closing of the Pre-Paid Advance shall occur remotely by conference call and electronic delivery of documentation on the date hereof, (the “Pre-Advance Date”) provided that applicable conditions set forth on Annex I have been satisfied (or such other date and time as is mutually agreed to by the Company and the Investor). At the closing, the Investor shall advance to the Company the principal amount of the Pre-Paid Advance, less a discount in the amount equal to 10% of the principal amount of the Pre-Paid Advance netted from the purchase price due and structed as an original issue discount (the “Original Issue Discount”), in immediately available funds to an account designated by the Company in writing. The Company acknowledges and agrees that the Original Issue Discount (i) shall not be funded but shall be deemed to be fully earned on the Pre-Advance Date, and (ii) shall not reduce the principal amount of the Pre-Paid Advance.
Pre-Paid Advance. Subject to the satisfaction of the conditions set forth in Annex II attached hereto, the Investor shall advance to the Company the principal amount of $42,131,579 (the “Pre-Paid Advance”) which shall be evidenced by a convertible promissory note in the form attached hereto as Exhibit A (the “Promissory Note”). The Pre-Paid Advance shall be advanced on the date of this Agreement (the “Closing”).
Pre-Paid Advance. Subject to the satisfaction of the conditions set forth in Annex I attached hereto, the Investor shall advance to the Company the principal amount of $8,510,000 (less any deductions set forth herein) of the Commitment Amount hereunder (the “Pre-Paid Advance”), which shall be evidenced by a secured convertible promissory note in the form attached hereto as Exhibit G (the “Promissory Note”). The Pre-Paid Advance shall be advanced on the date of execution of this Agreement (the “Pre-Paid Advance Closing”). At the Pre-Paid Advance Closing, the Company shall sell, and the Investor agrees to purchase, a corresponding number of warrants as determined pursuant to Section 2.02.
Pre-Paid Advance. Subject to the satisfaction of the conditions set forth in Annex I attached hereto, the Investor shall advance to the Company the principal amount of $50,000,000 (the “Pre-Paid Advance”) which shall be evidenced by a convertible promissory note in the form attached hereto as Exhibit A (the “Promissory Note”). The first Pre-Paid Advance shall be in a principal amount of $40,000,000 and advanced on the date of this Agreement (the “First Pre-Advance Closing”), and the second Pre-Paid Advance shall be in a principal amount of $10,000,000 and advanced on the second Trading Day after the initial Registration Statement becomes effective (the “Second Pre-Advance Closing”) (individually referred to as a “Closing” and collectively referred to as the “Closings”).
