Minimum Borrowing Notes definition

Minimum Borrowing Notes means each Secured Convertible Note, which shall be issued in a series, made by the Company in favor of Laurus to evidence the Minimum Borrowing Amount.
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Minimum Borrowing Notes means that certain Secured Convertible Minimum Borrowing Note dated as of the Closing Date made by the Companies in favor of Laurus evidencing the Minimum Borrowing Amount and each other Secured Convertible Minimum Borrowing Note made by the Companies in favor of Laurus which evidences the Minimum Borrowing Amount, as each of the same may be amended, supplemented, restated and/or otherwise modified from time to time.
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Minimum Borrowing Notes means that certain Secured Convertible Minimum Borrowing Note dated as of the Closing Date made by the Companies in favor Laurus evidencing the Minimum Borrowing Amount and each subsequent Secured Convertible Minimum Borrowing Note made by the Companies in favor of Laurus evidencing the Minimum Borrowing Amount, as each of the same may be amended, supplemented, restated and/or otherwise modified from time to time. For the avoidance of doubt, no more than one Minimum Borrowing Note shall be outstanding at any one time and the outstanding principal balance of any Minimum Borrowing Note shall be reduced below the Minimum Borrowing Amount by means of conversion of the Minimum Borrowing Note, the repayment from time to time of all or a portion of the Loans evidenced by the Minimum Borrowing Note, and otherwise pursuant to the express provisions of this Agreement and the Minimum Borrowing Note.
Sample 1

Examples of Minimum Borrowing Notes in a sentence

  • Notwithstanding the foregoing, in no event shall the Company be required to register more than an aggregate of two (2) Minimum Borrowing Notes without its express prior written consent.

  • From time to time thereafter, Company shall execute and deliver to Laurus immediately prior to the final funding of each additional $750,000 tranche of Loans (calculated on a cumulative basis for each such tranche) an additional Minimum Borrowing Note evidencing such tranche, in the form of Note delivered by Company to Laurus on the Closing Date, ) provided, however, that no more than two (2) Minimum Borrowing Notes in the aggregate shall be issuable hereunder without the consent of the Borrower.

  • Notwithstanding the immediately foregoing, in no event shall the Company be required to issue more than two serialized Minimum Borrowing Notes without the Company's prior written consent.

  • Fair value measurements for a non-financial asset assume the highest and best use by these market participants.

  • Notwithstanding the immediately foregoing, no more than an aggregate of two (2) Minimum Borrowing Notes shall be issued by Company pursuant hereto without the express prior written consent of Company.

  • Notwithstanding the immediately foregoing, in no event shall the Company be required to issue more than two serialized Minimum Borrowing Notes without the Company’s prior written consent.

  • The Company may not assign its rights or obligations hereunder without the prior written consent of the holders of the majority of the Registrable Securities then outstanding (assuming full exercise and conversion of the Minimum Borrowing Notes and the Warrants) Holder.

  • It specifically acknowledges that the Parent’s obligation to issue the shares of Common Stock upon conversion of the Minimum Borrowing Notes and exercise of the Warrants is binding upon the Parent and enforceable regardless of the dilution such issuance may have on the ownership interests of other shareholders of the Parent.

  • Each Company will provide, at the Companies’ joint and several expense, such other legal opinions in the future as are reasonably necessary for the conversion of the Minimum Borrowing Notes and the exercise of the Warrants.

  • Notwithstanding anything contained in the Financing Agreements to the contrary, (a) the Fixed Conversion Price under and as defined in the Minimum Borrowing Notes and the Revolving Note heretofore issued to Laurus, shall be amended to a price equal to sixty cents ($0.60) per share and (b) the Exercise Price set forth and as defined in the Warrant dated as of March 31, 2005 issued by Parent to Laurus shall be amended to a price equal to sixty cents ($0.60) per share.

Related to Minimum Borrowing Notes

  • Minimum Borrowing Amount means, with respect to any Borrowing of Loans, $500,000 (or, if less, the entire remaining Commitments at the time of such Borrowing).

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Term Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a).

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Euro-Dollar Borrowing has the meaning set forth in Section 1.3.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Eurodollar Loans Loans the rate of interest applicable to which is based upon the Eurodollar Rate.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • borrowing rate means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down;

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).