Examples of ExchangeCo Note Issuer in a sentence
As of the Closing Date and each Incremental Funding Date, the Transferor Interest is not less than the Minimum Transferor Interest and the aggregate amount of Principal Receivables is not less than the Required Minimum Principal Balance.
Upon the approval of the registration statement for the Company’s Initial Public Offering (the “Effective Date”), the Company shall convert the principal balance of this Note and all other amounts due for interest greater than the Minimum Principal Balance (the “Excess Principal Balance”) for shares of the Company’s common stock equal to the amount of shares that would cause the sum of (a) all shares of the Company’s common stock issued to Manhattan Scientifics, Inc.
Upon the completion of the Company’s Initial Public Offering, the Company shall convert the Minimum Principal Balance and all other amounts due for interest for shares of the Company’s common stock at a price per share equal to the price paid by investors in the Company’s Initial Public Offering; provided, however, the Company may, at its discretion, pay the Holder the Minimum Principal Balance and all other amounts due in cash.
Upon the completion of the partial buyout and replacement of the Notes held by the Senior Lenders as set forth in the Spinout Approval, the Principal Amount of this Note shall automatically be equal to the Minimum Principal Balance plus $1.
Notwithstanding the foregoing, during the term of Revolving Credit Facility, the principal amount outstanding must be equal to or greater than the Minimum Principal Balance.
As of the Closing Date and each Incremental Funding Date, the Transferor Interest is not less than the Required Transferor Interest and the aggregate amount of Principal Receivables is not less than the Required Minimum Principal Balance.