New Funding Amount definition

New Funding Amount has the meaning set forth in the recitals hereto.
Sample 1
New Funding Amount means additional gross cash proceeds from the sale of Ortec preferred equity securities (which shall comprise substantially all the Ortec consideration provided in return for such proceeds), in an amount aggregating (i) not less than $8,000,000 (or $6,000,000 but only if Section 5 hereof becomes applicable), less the gross proceeds heretofore received and to be received by Ortec from loans evidenced by the Bridge Notes, except for the gross proceeds received and to be received by Ortec from those Bridge Notes that are repaid and not converted into Series A-1 Preferred Stock in accordance with this Agreement, in which case the gross proceeds from such Bridge Notes that are repaid and not converted shall not be deducted, and (ii) not more than $20,000,000.
Sample 1
New Funding Amount means not less than $8,000,000 (inclusive of the principal amount of up to $2,800,000 in bridge notes issued by the Company between October 2006 and May 2007, which are exchanged in the Private Placement) for the Company’s Series A Convertible Preferred Stock and Series A Warrants sold in the Private Placement.
Sample 1

Examples of New Funding Amount in a sentence

  • If the Trustee determines that assets of the Trust Fund, including such assets as are delivered by the Company on the Delivery Date, equal or exceed the New Funding Amount, the Trustee shall accept the amended Exhibit B.

  • If the Trustee determines that assets of the Trust Fund, including such additional assets, equal or exceed the New Funding Amount, the Trustee shall add such new Participants to the Latest Participant List.

  • Upon Ortec securing the minimum amount of cash proceeds required by the New Funding Amount, provided that such amount is secured on or before June 30, 2007, and subject to all other terms and conditions of this Agreement, Xxxx Capital will exchange its Revenue Interests for shares of Series A-1 Preferred Stock having an aggregate stated value of $5,000,000 and Series A-2 Preferred Stock having an aggregate stated value of $5,000,000 at the Exchange Closing.

  • It is also contemplated that up to two other potential nominees for board membership will be designated by the investors representing a majority of the gross proceeds constituting the New Funding Amount (including the holders of the Bridge Notes (and based on the gross proceeds received therefrom) that are converted into Series A-1 Preferred Stock), unless such investors require that they be permitted to designate a larger number of directors.

  • Ortec agrees that of the gross proceeds Ortec may receive as the New Funding Amount prior to the Exchange Closing and of the gross proceeds Ortec has heretofore received or may hereafter receive from the loans evidenced by the Bridge Notes, Ortec will use its best efforts to allocate substantially all of such funds to support the clearance of the PMA by the FDA and further commercialization of Ortec's OrCel product and related supporting expenses, including existing contractual obligations.

  • Ortec agrees that of the gross proceeds Ortec may receive as the New Funding Amount prior to the Exchange Closing and of the gross proceeds Ortec has heretofore received or may hereafter receive from the loans evidenced by the Bridge Notes, Ortec will use its best efforts to allocate substantially all of such funds to support the clearance of the PMA by the FDA and further commercialization of Ortec’s OrCel product and related supporting expenses, including existing contractual obligations.

  • Ortec agrees to use its best efforts to obtain at least the minimum amount required by the New Funding Amount on or before June 30, 2007, shall seek third parties who are not Affiliates of Ortec as sources for such funding, and shall engage in good faith, arms length negotiations with such parties to obtain such funding as promptly as possible.

  • The parties acknowledge that simultaneously with the consummation of the transactions contemplated by this Agreement, Ortec shall consummate the transactions contemplated by the Purchase Agreement pursuant to which Ortec shall receive from the New Investors at least the minimum amount of cash proceeds required by the New Funding Amount in exchange for shares of the Series A Preferred Stock.

  • Upon Ortec securing the minimum amount of cash proceeds required by the New Funding Amount, provided that such amount is secured on or before June 30, 2007, and subject to all other terms and conditions of this Agreement, Xxxx Capital will exchange its Revenue Interests for shares of Ortec's Series A Preferred Stock having an aggregate stated value of $10,000,000.

  • If any other form of consideration is provided by Ortec to the New Investors in connection with obtaining such New Funding Amount, unless such consideration is also offered to Xxxx Capital, Xxxx Capital will have the right to terminate this Agreement and will have no continuing liability or obligation hereunder thereafter.


More Definitions of New Funding Amount

New Funding Amount means not less than $8,000,000 (inclusive of the principal amount of bridge notes issued by the Company between October 2006 and the initial closing of the Private Placement, which are exchanged in the Private Placement) received by the Company in the initial closing of the Private Placement.
Sample 1
New Funding Amount means additional gross cash proceeds from the sale of Series A Preferred Stock (which shall comprise substantially all the Ortec consideration provided in return for such proceeds), in an amount aggregating (i) not less than $8,000,000, less the gross proceeds heretofore received and to be received by Ortec from loans evidenced by the Bridge Notes, except for the gross proceeds received and to be received by Ortec from those Bridge Notes that are repaid and not converted into Series A Preferred Stock in accordance with this Agreement, in which case the gross proceeds from such Bridge Notes that are repaid and not converted shall not be deducted, and (ii) not more than $20,000,000.
Sample 1
New Funding Amount. For any Funding Date, an amount equal to the amount set forth in the VFN Note Balance Adjustment Request, which amount shall not exceed the lesser of (i) the aggregate Eligible Funding Amount for all Additional Underlying Loans and Future Advances to be funded on such Funding Date and (ii) the excess, if any, of (a) the Unused Amount as of such Funding Date over (b) the Aggregate Future Advance Obligations outstanding as of such Funding Date; provided, however, that in any event the aggregate New Funding Amount disbursed on any Funding Date shall be limited to an amount which may be disbursed without exceeding (i) the Concentration Limits, (ii) the Borrowing Base or (ii) the Maximum Note Balance.
Sample 1

Related to New Funding Amount

  • Pre-Funding Amount With respect to any date, the amount on deposit in the Pre-Funding Account.

  • Excess Funding Amount means the amount on deposit in the Excess Funding Account.

  • Funding Amount has the meaning specified in Section 3.2(a).

  • Aggregate Excess Funding Amount has the meaning specified in Section 2.2(c)(iv).

  • Cash Contribution Amount means the aggregate amount of cash contributions made to the capital of the Issuer or any Guarantor described in the definition of “Contribution Indebtedness.”

  • Repayment Amount means the amount to be paid by the Recipient to the OPWC on each payment date of each year during the Term pursuant to the terms and conditions of the Note.

  • Maximum Revolving Amount At any date as of which same is to be determined, the amount by which (x) $3,500,000 exceeds (y) the sum of (i) all then undrawn amounts of letters of credit issued by the Bank for the account of the Borrower plus (ii) all amounts then drawn on any such letter of credit which at said date shall not have been reimbursed to the Bank by the Borrower.

  • Acquisition Amount means, for an Acquired Receivable for which the Acquisition Amount is to be included in Available Funds for a Payment Date, the excess of (i) the present value of the Principal Balance of the Receivable as of the last day of the Collection Period immediately preceding the related Collection Period (calculated using the Discount Rate on the basis of a 360-day year of twelve 30-day months and assuming each amount is received at the end of the Collection Period in which the amount is scheduled to be received) over (ii) all cash collections and any other cash proceeds received by the Issuer on the related Receivable from (but excluding) the last day of the Collection Period immediately preceding the related Collection Period to the day on which such Receivable becomes an Acquired Receivable.

  • Additional Refinancing Amount means, in connection with the Incurrence of any Refinancing Indebtedness, the aggregate principal amount of additional Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay accrued and unpaid interest, premiums (including tender premiums), expenses, defeasance costs and fees in respect thereof.

  • Principal Funding Investment Shortfall means, with respect to each Transfer Date relating to the Controlled Accumulation Period, the amount, if any, by which the Principal Funding Investment Proceeds for such Transfer Date are less than the Covered Amount determined as of such Transfer Date.

  • Aggregate Senior Percentage With respect to any Distribution Date, the fraction, expressed as a percentage, the numerator of which is equal to the aggregate Class Certificate Balance of the Senior Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all the Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that prior Due Date).

  • Principal Funding Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Funding Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.

  • Rounding Amount means, if the Relevant Currency is (a) USD or EUR, 1,000 units of the Relevant Currency, unless otherwise specified in Schedule 1 to these Credit Derivatives Auction Settlement Terms, (b) JPY, 100,000 units of the Relevant Currency, unless otherwise specified in Schedule 1 to these Credit Derivatives Auction Settlement Terms, or (c) any other currency, such amount approved by the relevant Convened DC and set forth in Schedule 1 to these Credit Derivatives Auction Settlement Terms.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

  • L/C Amount means the sum of (i) the aggregate face amount of any issued and outstanding Letters of Credit and (ii) the unpaid amount of the Obligation of Reimbursement.

  • Investment Amount means the dollar amount to be invested by Investor to purchase Put Shares with respect to any Put as notified by the Company to Investor in accordance with Section 2.2.

  • Aggregate Outstanding Amount With respect to any of the Notes as of any date, the aggregate unpaid principal amount of such Notes Outstanding on such date.

  • Maximum Revolving Advance Amount means $25,000,000.

  • New Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Floating Amount The product of (a) the Notional Amount (b) the Floating Rate Day Count Fraction and (c) the Settlement Spread which shall be calculated in accordance with the following formula: If USD-LIBOR-BBA is greater than the Cap Rate I for the applicable Calculation Period, then Settlement Spread = (USD-LIBOR-BBA - applicable Cap Rate I) provided, however, that if USD-LIBOR-BBA for any Calculation Period is greater than the Cap Rate II then the USD-LIBOR-BBA for such Calculation Period shall be deemed to be the Cap Rate II. If 1 Month USD-LIBOR-BBA is less than or equal to the Cap Rate I for the applicable Calculation Period, then Settlement Spread = Zero. Floating Rate for initial Calculation Period: To be determined Floating Rate Option: USD-LIBOR-BBA Designated Maturity: 1 month Spread: None Floating Rate Day Count Fraction: 30/360 Reset Dates: First day of each Calculation Period. Business Days: New York Calculation Agent: Party A

  • Contribution Amount has the meaning given in subsection 444-90(1A) in Schedule 1 of the Australian Taxation Administration Act 1953 (Cth).

  • PIPE Investment Amount means the aggregate gross purchase price received by Acquiror prior to or substantially concurrently with Closing for the shares in the PIPE Investment.