Cash Out Date definition
Cash Out Date is at any given time, the date on which Borrower’s then held cash reserves would first be completely exhausted assuming a continuing cash burn equal to the Operative Monthly Cash Burn (and accounting for making all of the interest and principal payments on the Term Loans during the period starting from the date on which the Cash Out Date is being calculated through the Cash Out Date). Cash Out Date shall be calculated at the end of each month.
Examples of Cash Out Date in a sentence
The holders shall deliver to the Company the Note or Notes that are being converted on or prior to the later of the Conversion Date or the Cash Out Date.
Such conversion shall be deemed to have been made at the close of business on the later of the Conversion Date or the Cash Out Date, and the holder entitled to receive the shares of A Common Stock issuable upon such conversion shall be treated for all purposes as the record holder of such shares of A Common Stock on such date.
In the monthly Compliance Certificate that Borrower is obligated to provide under Section 6.2(b), Borrower shall set forth the calculation of the Cash Out Principal Loan Balance and Cash Out Date.