Tranche I. Subject to the terms and conditions of this Agreement, (A) on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance of $15,000,000 and (B) on or prior to March 15, 2023, Borrower may request, and the Lenders shall severally (and not jointly) make, one or more additional Term Loan Advances in minimum increments of $5,000,000 (or if less than $5,000,000 the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.1(a)(i)) in an aggregate principal amount of up to $15,000,000.
Tranche I. With respect to [__] of the Warrant Shares issuable hereunder, the initial Exercise Price is $10.00 per share (the “Tranche I Warrant Shares”).
Tranche I. (A) Prior to the First Amendment Effective Date, Lenders severally (and not jointly) made, and Xxxxxxxx drew, Term Loan Advances in an aggregate principal amount of $15,000,000 (the “Tranche I-A Advances”).
Tranche I. Subject to the terms and conditions of this Agreement, (A) on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance in an amount equal to Ten Million Dollars ($10,000,000) in accordance with their respective Tranche I Commitments, and (B) at any time from the Closing Date until June 15, 2023, Borrower may request and Lenders shall severally (and not jointly) make one or more additional Term Loan Advances in minimum increments of Five Million Dollars ($5,000,000) (or if less, the remaining amount of Term Loan Advances available to be drawn ACTIVE/129357222 pursuant to this Section 2.1(a)(i)(B)) in an aggregate principal amount up to Ten Million Dollars ($10,000,000) in accordance with their respective Tranche I Commitments (such Term Loan Advances, the “Tranche I Advances”). After repayment, no Tranche I Advance (or any portion thereof) may be reborrowed.
Tranche I. On the earliest practicable date following the One-Year Anniversary (as defined in the Credit Agreement) (the “Tranche I Closing”), the Corporation shall issue to the Investors then a party to this Agreement Warrants exercisable for a number of Warrant Shares equal to (i) a fraction, the numerator of which shall be be the aggregate outstanding principal balance of the Term Loans as of the One-Year Anniversary and the denominator of which shall be the aggregate outstanding principal balance of the Term Loans as of the date hereof, multiplied by (ii) the product of 0.5% times the number of outstanding shares of Common Stock of the Corporation as of the One-Year Anniversary (the “Tranche I Shares”). Each Investor a party to this Agreement on the One-Year Anniversary shall receive that number of the Tranche I Shares that is equal to such Investor’s Applicable Commitment Percentage multiplied by the aggregate number of Tranche I Shares issuable by the Corporation pursuant to this clause (a).
Tranche I. Subject to the terms and conditions of this Agreement, on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance of $25,000,000 (“Tranche I”);
Tranche I. For and in consideration of the sale, assignment, transfer and conveyance of the Membership Interests by Sellers, on the sixtieth (60th) day after Closing, Buyer shall reimburse Xxxxxx Xxxxxxxx for all documented direct operating costs of the Company as well as all costs incurred by the Company in obtaining any Permit to allow the Company to operate a medical waste disposal facility on the Real Property (as hereinafter defined) described in the Real Estate Purchase Contract (as hereinafter defined), such reimbursement not exceed the sum of Seventy Five Thousand and no/100ths Dollars ($75,000.00);
Tranche I. Subject to the terms and conditions of this Agreement, (A) on the Closing Date, Lenders shall severally (and not jointly) make, and Borrower agrees to draw, a Term Loan Advance of $5,000,000, (B) at any time from the Closing Date until December 15, 2022, Borrower may request and Lenders shall severally (and not jointly) make one or more additional Term Loan Advances in minimum increments of $5,000,000 (or if less than $5,000,000 the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.1(a)(i)(B)) in an aggregate principal amount up to $10,000,000, and (C) at any time from the Closing Date until June 30, 2023, Borrower may request and Lenders shall severally (and not jointly) make one or more additional Term Loan Advances in minimum increments of $5,000,000 (or if less than $5,000,000 the remaining amount of Term Loan Advances available to be drawn pursuant to this Section 2.1(a)(i)(C)) in an aggregate principal amount up to $15,000,000 (such Term Loan Advances, the “Tranche I Advances”).
Tranche I. For and in consideration of the sale, assignment, transfer and conveyance of the Membership Interests by Sellers, (i) at the election of the Sellers, in their sole discretion, (a) Parent will at Closing issue to the Sellers One Million (1,000,000) shares of Parent’s restricted common stock, par value $0.025 per share (the “Purchase Price Shares”) or (b) Buyer will pay to the Sellers in cash One Million Three Hundred Twenty Thousand and no/100ths Dollars ($1,320,000.00) (the “Deemed Aggregate Value”), such election by the Sellers will be delivered to the Buyer in writing at the Closing; and, (ii) at Closing, Parent will issue to Sellers a warrant (the “Warrant”) for the purchase of 1,000,000 shares of Parent’s restricted common stock in the form of Schedule 2.2. If issued, the Purchase Price Shares will have a deemed value of $1.32 per share (the “Deemed Value Per Share”), and the Purchase Price Shares shall be allocated and issued as follows: Two Hundred Fifty Thousand (250,000) to XxXxxxxx; Two Hundred Fifty Thousand (250,000) to Guest; Two Hundred Fifty Thousand (250,000) to Xxxxxxx; and Two Hundred Fifty Thousand (250,000) to Xxxxxxxxxx. If the Sellers elect for that portion of the Purchase Price set forth in subsection (i) above to be paid in the form of cash, such payment will be delivered not later than one hundred eighty (180) days after the Closing Date, and Three Hundred Thirty Thousand Dollars ($330,000.00) will be paid to XxXxxxxx; Three Hundred Thirty Thousand Dollars ($330,000.00) will be paid to Guest Three Hundred Thirty Thousand Dollars ($330,000.00)will be paid to Xxxxxxx; and Three Hundred Thirty Thousand Dollars ($330,000.00) will be paid to Xxxxxxxxxx.
