Examples of Insider Notes in a sentence
Upon conversion of the Insider Notes to ACRO common stock, there shall be 97,001,018 shares outstanding.
Each holder of an Insider Claim that is finally Allowed by the Bankruptcy Court after resolution of all objections thereto shall receive, in full satisfaction, settlement, release and discharge of such Allowed Class 7 Insider Claims, their pro rata share of the New Insider Notes.
As of the Closing Date and following the conversion of the Insider Notes, the cancellation of the outstanding warrants and the cancelation of all outstanding options, there are no, options, warrants or other convertible securities which may be converted into stock of ACRO.
The Insider Notes have since been exchanged for Subordinated Convertible Notes.Other Agreements with Related PartiesWe have also entered into certain customary investor rights and registration rights agreements with certain of our shareholders who either have a nominee appointed to our Board or the unexercised right to appoint a nominee to our Board.
The following table summarizes our significant contractual obligations as of September 30, 2023:Notes:(1)Loans payable relate to undiscounted cash flows for loans, including the Madryn Credit Facility, the Neuronetics Note, TMS Device loans, the Insider Notes and the Success TMS Notes as at September 30, 2023, inclusive of principal and interest.(2)Rental leases relate to the undiscounted cash flows of all future payments for all rental agreements.
The Borrower will not, nor will the Borrower permit any of its Subsidiaries to, waive, amend, extend, renew or otherwise modify the terms and conditions of the Insider Notes without the prior written consent of the Agent.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS For information concerning the $729,000 loan from the Company to Mr. Lambiase, the $1.5 million loans from the Company to each of Mr. Brinkley and Mr. Lambiase, and the $200,000 loan from the Company to Mr. Rotunda, see "Executive Compensation, Insider Notes." The Company and Morgan Schiff & Co., Inc.
Lithia will cause the Company to pay the accrued interest and principal of the Insider Notes, according to the terms thereof, with final payment to be made on or before thirteen (13) calendar months after the Closing Date.
The Company also issued an aggregate principal $1.0 million dollar of unsecured notes on August 1, 2023 to Greybrook Health on August 1 (the “August 2023 Notes” and collectively with the February 2023 Notes, the “Insider Notes”).The gross proceeds to the Company of the New Loans and the Insider Notes (collectively the “Debt Financings”) equaled $10.75 million.
See “Indebtedness and Capital Raising—Other Indebtedness” above and “Risks and Uncertainties” below.Loans from other shareholders and officersIn connection with the Debt Financings, the Company received loans from and issued Insider Notes to certain shareholders, officers and former officers of the Company, including, 1315 Capital II, L.P., Bill Leonard, Erns Loubser and Geoffrey Grammer.