Use of SEPA. At any time during the Commitment Period, provided that there is an outstanding balance owed under a Promissory Note, if the Company delivers an Advance Notice to the Investor, the Investor shall offset the amount due to be paid to the Company under such Advance Notice against an equal amount outstanding under the Promissory Note (first towards accrued and unpaid interest, and then towards outstanding principal, with no deduction for any Payment Premium, as defined in the Promissory Note).
Appears in 2 contracts
Samples: Standby Equity Purchase Agreement (Eos Energy Enterprises, Inc.), Standby Equity Purchase Agreement (Eos Energy Enterprises, Inc.)
Use of SEPA. At any time during the Commitment Period, provided that there is an outstanding balance owed under a Promissory Note, if the Company delivers an Advance Notice to the Investor, the Investor shall offset the amount due to be paid to the Company under such Advance Notice against an equal amount outstanding under the Promissory Note Notes (first towards accrued and unpaid interest, and then towards outstanding principal, with no deduction for any Payment Premium, as defined in the Promissory Note).
Appears in 1 contract
Samples: Standby Equity Purchase Agreement (Eos Energy Enterprises, Inc.)
Use of SEPA. At any time during the Commitment Period, provided that there is an outstanding balance owed under a the Promissory Note, if the Company delivers an Advance Notice to the Investor, the Investor shall offset the amount due to be paid to the Company under such Advance Notice against an equal amount outstanding under the Promissory Note (first towards accrued and unpaid interest, and then towards outstanding principal, with no deduction for any Payment Premium, as defined in the Promissory Note).
Appears in 1 contract
Samples: Supplemental Agreement (Eos Energy Enterprises, Inc.)
