Qualified Financing Defined. For purposes of this Note, the term Qualified Financing shall mean the Borrower’s sale of its equity securities (the “New Equity Securities”) in a single transaction or in a series of related transactions in each case occurring after the date hereof and approved by the Borrower’s Board of Directors and the applicable stockholders of the Borrower, in which Borrower receives aggregate gross proceeds of at least $5,000,000 (excluding all amounts payable under the Notes). For purposes of this Note, “Qualified Financing Closing” means the closing of the Qualified Financing.
Qualified Financing Defined. The term "Qualified Financing" shall mean that the Company issues and sells shares of its equity securities ("Equity Securities") to investors (the "Investors”) on or before the Maturity Date in an equity financing with total proceeds to the Company of not less than $5,000,000 (excluding the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)).
Qualified Financing Defined. For purposes of this Note, the term “Qualified Financing” means the Borrower’s issuance or sale of shares of its equity securities, either alone or as part of units with other equity or equity-linked securities of the Company (the “New Securities” and together with the shares of Common Stock issuable pursuant to Section 6(a), above, the “Conversion Securities”), for the principal purpose of raising capital, in a single transaction or in a series of related transactions in each case occurring after the date hereof and on or before the Maturity Date, where such transaction results in the Company having received aggregate gross proceeds of at least $3,500,000, including all proceeds from the satisfaction of indebtedness resulting from the conversion of the Notes.
Qualified Financing Defined. The term “Qualified Financing” shall mean that the Company issues and sells shares of its equity securities (“Equity Securities”) to investors (the “Investors”) on or before the Maturity Date in an equity financing with total proceeds to the Company of not less than $6,000,000 (excluding the conversion of the Notes or other convertible securities issued for capital raising purposes (e.g., Simple Agreements for Future Equity)). For the avoidance of doubt, the Equity Securities sold in a Qualified Financing and into which this Note shall be automatically converted shall include shares of common stock of any corporation or other successor entity into which the Company may be converted in connection with a transaction constituting a Qualified Financing.
