Convertible Note Financing means the financing that may be entered into by Pineapple prior to the closing of the merger for the issuance and sale of up to $10 million in gross proceeds of convertible notes or debt obligations that will convert, immediately prior to the merger, into Pineapple Class C Units at a rate of one Pineapple Class C Unit for every $2.00 of unpaid principal and accrued interest thereon. To the extent Pineapple sells or issues any such convertible notes, the Class C Units outstanding will be exchanged at the effective time of the merger into shares of CSI common stock at a ratio of one share of CSI common stock for each Pineapple Class C Unit.

Convertible Note Financing has the meaning given in Section 2(a) hereof. “Event of Default” has the meaning given in Section 5 hereof.

Convertible Note Financing means the convertible note private placement financing completed by the Corporation in February 2019 through the issuance of convertible promissory notes in the aggregate principal amount of $10,000,021.50 at 12% interest per annum with a maturity date of eighteen (18) months;

Examples of Convertible Note Financing in a sentence

Reference is made to items in Section 3.2 of this Disclosure Schedule relating to the Convertible Note Financing.
The Company will cause a UCC-3 termination statement to be filed to terminate the Convertible Note Financing Statement as soon as reasonably practicable and in any event within 30 days after the date of this Agreement.
The Company reserves the right, in its sole discretion, to terminate the Convertible Note Financing at any time and for any reason; provided, however, any such termination shall not affect the validity and enforceability of any Convertible Note issued prior to the date of termination.
Pursuant to the terms of the Convertible Note Financing, the Company became obligated to exchange certain of its outstanding shares of Series m-3 Preferred Stock for the newly authorized shares of Series m-4 Preferred Stock upon the closing of at least $1 million in aggregate principal amount of convertible promissory notes under the Convertible Note Financing.
The Company had omitted preferred dividends on its unaudited pro forma condensed combined statements of income and comprehensive loss for the year ended December 31, 2017 which created mathematical errors in the statement and has provided additional disclosures relating to the Company’s May 15, 2018 10% Convertible Note Financing on the unaudited pro forma condensed combined balance sheet as of March 31, 2018.

More Definitions of Convertible Note Financing

Convertible Note Financing has the meaning set forth in Section 7.5.

Convertible Note Financing has the meaning specified in the Solar Loan Program Agreement.

Convertible Note Financing means the entry into the Note Purchase Agreement, as defined in the Joint Prepackaged Chapter 11 Plan of Reorganization of Sunlight Financial Holdings Inc. and its Affiliated Debtors.

Convertible Note Financing has the meaning given in Section 2(a) hereof.

Convertible Note Financing shall have the meaning ascribed to such term in Recital A;

Convertible Note Financing has the meaning set forth in the Recitals.

Convertible Note Financing means any convertible note financing including the Convertible Note Purchase Agreement and the transactions pursuant to, contemplated thereby, or in connection therewith so long as the holders of such instrument execute a subordination agreement substantially consistent with the Convertible Note Subordination Agreement or otherwise reasonably acceptable to the Agents.