Examples of Convertible Loan Note Instrument in a sentence
On 28 May 2015, DCD Media agreed with Timeweave Ltd and Henderson, together being the Special Majority Noteholders, that the conversion date of the 2013 Convertible Loan Note Instrument would be extended from 30 May 2015 to such further date as agreed by the Majority Noteholders.
The convertible notes payable mature three years after issuance and bear 5% interest, only to be paid in the event of a material breach by the Company of the terms of the 2022 Convertible Loan Note Instrument.
As of October 6, 2022, $1.3 million (£950,000) 2021 Convertible Loan Notes were issued and outstanding.On November 1, 2022, the Company approved a master Convertible Loan Note Instrument (the “2022 Convertible Loan Note Instrument”), permitting the Company to issue convertible notes payable for a maximum aggregate principal amount of up to $3.3 million (£3.0 million).
The total compensation (including employers’ national insurance) paid in respect of key management personnel for services provided to the Company is as follows:Period from incorporation to 30 June2020US$Aggregate emoluments including short term employee benefits Nil––––––––––––Nil–––––––––––––––––––––––– On 4 May 2020 the Company entered into an Asset Purchase Agreement and a Convertible Loan Note Instrument with Renalytix.
In the event of a Change of Control, the convertible notes issued under the 2021 Convertible Loan Note Instrument automatically convert into ordinary shares of our common stock.