Minimum Financing definition

Minimum Financing means [***].

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Minimum Financing means the offering of Ubika Shares and of Ubika Subscription Receipts for minimum gross proceeds of $10,500,000.

Minimum Financing means the issuance of equity interests (or debt securities convertible into equity interests) in one or a series of related transactions, the principal purpose of which is to raise capital, which transaction or series of related transactions result in the Company receiving gross proceeds of not less than $3,000,000 (inclusive of the principal amount of the notes that will convert into equity in connection with the consummation of the Minimum Financing). Upon a Minimum Financing, the Executive’s salary will be adjusted to the corresponding rate set forth on Schedule 1 (as adjusted, the “Base Salary”). In the event that a Minimum Financing has not been consummated by December 31, 2019, your salary will be at such rate as is mutually agreed by you and the Company (but not less that the weekly rate set forth above, or the rate set forth in Schedule 1, whichever is applicable), payable in accordance with the Company’s standard payroll schedule and subject to required tax withholding and other authorized deductions.

Examples of Minimum Financing in a sentence

• Notwithstanding anything to the contrary herein, should Licensee fail to obtain financing in the amount of Five Million Dollars (US$5,000,000) (the "Minimum Financing") by March 31, 2004, NovaDel shall have the right, which right shall continue until such time as Licensee obtains the Minimum Financing, but not the obligation, to immediately terminate this Agreement upon written notice to Licensee.

• Such salary shall be effective upon the Corporation completing a Minimum Financing Transaction.

• A Minimum Financing Transaction may consist of, or a combination of, the sale of equity or debt, the exercise of warrants or proceeds received under a licensing agreement.

• A Minimum Financing Transaction is defined as a single or series of transactions that take place subsequent to the date of this Agreement whereby the Corporation raises at least $4 million in gross proceeds.

• The bonus will only be earned and payable in the event that the Corporation completes a Minimum Financing Transaction.

• From the date of this Agreement until such time that the Minimum Financing Transaction is completed, Executive shall be paid the interim salary of $144,000, payable on a bi-monthly basis in arrears.

• Notwithstanding anything to the contrary herein, should Licensee fail to obtain the Minimum Financing by [***], NovaDel shall have the right, which right shall continue until such time as Licensee obtains the Minimum Financing, but not the obligation, to immediately terminate this Agreement upon written notice to Licensee.

• Without limiting the generality of the foregoing, if Buyer believes for any reason in good faith that it will not be able to obtain all or any portion of the Minimum Financing, or if any portion of the Minimum Financing otherwise becomes unavailable or Buyer becomes aware of any event or circumstance that would reasonably be expected to make any portion of the Minimum Financing become so unavailable.

• An authorized officer of the Company shall have delivered to the Investors at the Closing Date a certificate, in form and substance reasonably acceptable to the Investor Majority, certifying that the conditions specified in Sections ‎6.1(a) (Representations and Warranties), ‎6.1(b) (Performance), ‎6.1(c) (No Injunction), ‎6.1(d) (Consents), ‎6.1(f) (Adverse Changes), ‎6.1(k) (No Stop Order) ‎6.1(l) (Nasdaq), ‎6.1(m) (Minimum Financing Amount), and ‎6.1(n) (Merger) of this Agreement have been fulfilled.

• Buyer shall deliver to Seller complete and accurate copies of all Contracts or other arrangements pursuant to which any source shall have committed to provide any portion of the Minimum Financing.

More Definitions of Minimum Financing

Minimum Financing has the meaning set forth in Section 7.09.

Minimum Financing means $4,000,000 raised through the Concurrent Financing; “Na” means sodium;