Convertible Note Financing definition

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.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Convertible Note Financing has the meaning specified in Section 5.28.

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

Examples of Convertible Note Financing in a sentence

• 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.

• Reference is made to items in Section 3.2 of this Disclosure Schedule relating to the Convertible Note Financing.

• 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.

• Provided the $16,000,000 Secured Convertible Note Financing by SCP Private Equity Partners II, LP ("SCP") and TECORE, Inc.

• If this Note is rejected or the Convertible Note Financing is terminated, then all funds received from Investor will be returned without interest or offset, and this Note shall be deemed to be null and void and of no further force or effect.

More Definitions of Convertible Note Financing

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;

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

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

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

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

Convertible Note Financing means the sale of 890 Convertible Notes in connection with the Note Subscription Agreement, raising gross proceeds of $150,000,000.