Second Funding. (a) Second phase of the investment (the “Second Funding”) shall be in accordance with the followings:
Second Funding. As part of the consulting services to be furnished by the Consultant pursuant to the provisions of this Agreement, the Consultant shall, on a best efforts basis, locate or cause to be located broker or institutional investors who shall invest an additional $3,000,000 in the Corporation in exchange for securities which, prior to issuance, shall be registered with the Commission pursuant to a registration statement to be filed with the Commission pursuant to the Act.
Second Funding. No later than the first (1st) Business Day after the date of the consummation of the Proposed Financing Second Funding (the “Second Funding”, and such date, the “Second Funding Date”), the Company shall purchase, and the Holder shall sell, $1,074,412.39 in aggregate principal amount of the Exchanged August Note (together with any accrued and unpaid interest with respect thereto, including, without limitation, any Additional Interest (as defined below)) to the Company for a cash payment of $1,250,000 (the “Second Purchase Price”), to be paid by wire transfer to the Holder on or before the first Business Day following the Second Funding Date, in U.S. dollars and immediately available funds in accordance with the wire instructions of the Holder delivered to the Company at least two Business Days prior to the Second Funding Date.
Second Funding. The Borrower hereby acknowledges that on the date hereof, the Borrower is exercising its one-time right under the Second Funding Agreement to receive the Second Funding, in the amount of Forty Million Seven Hundred Ninety-Three Thousand One Hundred Twenty and 00/100 Dollars ($40,793,120.00), funded by Lender to Borrower in accordance with the terms and conditions of the Second Funding Agreement and the Loan Documents, as applicable, and that the Borrower shall not be entitled to any additional advances under the terms of the Loan Documents.
Second Funding. The Second Tranche will be purchased at equivalent value of forty-five- and one-half cents ($0.455) per share of common stock for a total of fifteen million dollars ($15,000,000) (the “Second Funding” and together with the First Funding, the “Purchase Price).
Second Funding. The closing of the transactions contemplated by this Agreement in respect of the Second Subscription (the “Second Funding”) shall be held on the Second Funding Date by way of a virtual closing through electronic exchange of deliveries.
Second Funding
