Additional Funding Conditions definition

Additional Funding Conditions has the meaning set forth in Section 4.3(a).

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Additional Funding Conditions means (a) the average daily VWAP of the Ordinary Shares for the twenty (20) consecutive Trading Days ending on the last Trading Day immediately preceding a Subsequent Closing Date is greater than $5.00 (to be appropriately adjusted for any share split, share dividend, share combination or other similar transactions), (b) the average daily trading volume of the Ordinary Shares on the Trading Market during each Trading Day for the twenty (20) consecutive Trading Days prior to such Subsequent Closing Date exceeds $250,000, (c) the aggregate principal amount of Notes outstanding is less than $350,000 as of the Trading Day immediately prior to such Subsequent Closing Date, (d) the Registration Statement (as defined in the Registration Rights Agreement) has been declared effective by the SEC (and with respect to which no stop order has been issued), and (e) there shall have been no existing event which, with the passage of time or the giving of notice, would constitute an Event of Default (as defined in the Notes).

Additional Funding Conditions means (a) the Registration Statement (as defined in the Registration Rights Agreement) shall have been declared effective by the SEC (and with respect to which no stop order has been issued), and (b) there shall have been no existing event which, with the passage of time or the giving of notice, would constitute an Event of Default (as defined in the Notes).

Examples of Additional Funding Conditions in a sentence

For the avoidance of doubt, the Additional Funding Conditions must continue to be satisfied during the Second Tranche Funding Period.
Notwithstanding anything to the contrary set forth in the Loan Documents, including without limitation, Section 6.21(c) of the Credit Agreement, no Borrower shall make any cash Restricted Payment(s) unless and until each of the Additional Funding Conditions referenced in Section 3(b) above has been satisfied.
In addition to the foregoing, Lender shall not be obligated to fund any portion of the Loan in excess of the Funding Limit unless and until all of the Additional Funding Conditions are satisfied.
From and after the satisfaction of the Additional Funding Conditions, advances of new Revolving Loans shall be available to Borrower on the terms, and subject to the conditions, set forth in the Credit Agreement.
Lender hereby agrees that such failure (and the failure to satisfy the Additional Funding Conditions set forth in Section 6.9 of the Loan Agreement) shall not be an Event of Default under the Loan Agreement or other Loan Documents so long as the Parking Owner Affiliate closes the transactions contemplated under the Exchange Agreement and satisfies all of the Additional Funding Conditions within ninety (90) days of the date of this Agreement.
The failure to satisfy the Additional Funding Conditions within ninety (90) days of the date of this Agreement, or such later date as Lender may agree in writing.
No portion of the Loan proceeds shall be advanced in excess of the Funding Limit unless and until all of the Additional Funding Conditions have been satisfied.
In the event that Borrower does not satisfy all of the Additional Funding Conditions within ninety (90) days of the date of this Agreement, then Lender shall have the right to declare an Event of Default under the Loan Agreement and exercise any and all remedies provided to Lender under the Loan Agreement and other Loan Documents or at law or equity.

More Definitions of Additional Funding Conditions

Additional Funding Conditions is defined in Section 6.9.

Additional Funding Conditions means (a) after giving effect to the issuance of the Third Subscription Amount or the Fourth Subscription Amount, as applicable, the aggregate principal amount of Notes outstanding would not exceed ten percent (10%) of the Company’s market capitalization as of the Trading Day immediately prior to the issuance, (b) (i) with respect to the issuance of the Third Subscription Amount, less than 10% of the aggregate principal amount of the Notes issued on the First Closing Date and the Second Closing Date, collectively, remains outstanding or (ii) with respect to the issuance of the Fourth Subscription Amount, less than 10% of the aggregate principal amount of the Notes issued on the First Closing Date, the Second Closing Date and the Third Closing Date, collectively, remains outstanding, (c) (i) the Common Stock exceeds a share price of $2.50 on the Principal Trading Market during each Trading Day for the ten (10) Trading Days prior to the Third Closing Notice or the Fourth Closing Notice, as applicable, and (ii) the average daily trading volume of the Common Stock on the Principal Trading Market during each Trading Day for the ten (10) Trading Days prior to the Third Closing Notice or the Fourth Closing Notice, as applicable, exceeds $200,000 and (d) the Company has received Shareholder Approval.

Additional Funding Conditions means (a) the satisfaction as of the Second Closing Date of the Equity Conditions (as defined in the Notes) other than clauses (k) and (l) thereof, (b) the Initial Registration Statement (as defined in the Registration Rights Agreement) shall have been declared effective by the SEC (and with respect to which no stop order has been issued), (c) the then remaining principal amount of the First Note shall be no higher than $3,000,000, (d) the Nasdaq Official Closing Price of a share of Common Stock of each Trading Day over the twenty (20) Trading Day period immediately prior to the Second Closing Date shall be $2.50 or higher (adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions that occur with respect to the shares of Common Stock after the Subscription Date), (e) the daily trading volume of the shares of Common Stock on the Trading Market for each Trading Day during the twenty (20) Trading Day period immediately prior to the Second Closing Date shall be $150,000 or higher, (f) a Registration Statement (as defined in the Registration Rights Agreement) covering the Conversion Shares underlying the Second Note shall have been declared effective by the SEC (and with respect to which no stop order has been issued) and (g) there shall have been no existing event which, with the passage of time or the giving of notice, would constitute an Event of Default (as defined in the Notes).