Next Qualified Financing definition

Next Qualified Financing means the first investment, or series of investments in the Company’s share capital after the date hereof in which the Company issues shares provided that the aggregate gross proceeds to the Company in such financing exceeds Fifteen Million United States dollars (US$15,000,000).

Next Qualified Financing means the receipt of gross proceeds of not less than $6,600,000 from the sale of the Company's debt or equity securities through any financing sources (in any case excluding amounts received on conversion of the Outstanding Notes and the Notes) which is on terms reasonably acceptable to a majority in interest of the Investors and is completed before June 10, 2002.

Next Qualified Financing means the next equity financing involving the receipt by the Company of at least Six ($6,000,000); provided that the Next Qualified Financing shall not include an equity financing that is made in connection with either: (i) any arrangement between the Company and any third party for any research or development involving the Company (including, without limitation, any arrangement that includes provision for research support, product development and/or testing support); (ii) any rights to commercialize any products resulting from the development programs of the Company (including, without limitation, rights to develop, make, use, license and/or sell any such products); or (iii) any other non-monetary consideration.

Examples of Next Qualified Financing in a sentence

• Holders who receive New Preferred Stock shall be subject to the terms and conditions of such Next Qualified Financing, which shall include broad-based weighted-average anti-dilution protection, and shall receive registration rights, a right of first offer, a right of first refusal and co-sale rights that are no less favorable than the most favorable of such rights granted to other investors in the Next Qualified Financing.

• Notwithstanding anything to the contrary herein, in order to qualify as a Next Qualified Financing under this Agreement, the Next Round Stock sold by the Company in such financing must be preferred stock.

• If the Company consummates any sale of Next Round Stock that does not qualify as a Next Qualified Financing (a “Non-Qualified Financing”) before the Maturity Date or earlier conversion of the Note, Company shall provide the Holder ten (10) days advance written notice of the Non-Qualified Financing, which notice shall include the material terms offered to the investors in the Non-Qualified Financing.

• Notwithstanding the foregoing or any other term hereof, within five (5) business days after the Holder’s receipt of written notice from the Company that the closing of the Next Qualified Financing has occurred, the Holder shall notify the Company in writing whether this Warrant shall thereafter be exercisable solely into Series C Preferred or solely into Series D Preferred (on the respective terms contained herein).

• As a condition of the issuance of this Note, the Lender and the Company agree upon conversion hereof to enter into a purchase agreement and such other necessary documents for the Equity Securities or Series C Preferred Stock, as applicable, with the same terms and conditions as the purchase agreement executed by other investors in connection with the Next Qualified Financing or Merger Transaction, as the case may be.

More Definitions of Next Qualified Financing

Next Qualified Financing means TeraGlobal's next round of additional debt and/or equity financing.

Next Qualified Financing means the next round of capital raise after the date of the Investment Agreement, under which the Company raises not less than INR 175,00,00,000/- (Indian Rupees One hundred Seventy-Five Crores only) from a third- party external investor;

Next Qualified Financing means the sale and issuance by the Corporation of Common Stock, Convertible Securities or Options to investors acceptable to the Board in the first equity financing transaction following the Series A Original Issue Date that results in at least $5,000,000 of gross proceeds (including the conversion of any indebtedness) to the Corporation.

Next Qualified Financing means the first Qualified Financing to be consummated after the Closing Date, whether pursuant to an effective registration statement under the Act or in a transaction (or series of related transactions) exempt from such registration, in which the Company receives aggregate gross proceeds of not less than Twenty Million Dollars ($20,000,000); provided, that if the securities issued by Borrower Representative consist of convertible indebtedness of Borrower Representative (excluding, for the avoidance of doubt, Indebtedness hereunder convertible pursuant to Section 2.2(e) hereof) whose conversion price cannot be determined until the occurrence of a future event, then, at the election of the Lenders, the “Next Qualified Financing” shall be deemed to have occurred only upon actual conversion of such convertible indebtedness. “Next Qualified Financing Price” means the lowest effective cash price per share or security for which securities of the Next Qualified Financing Series are sold or issued by Borrower Representative in the Next Qualified

Next Qualified Financing means the closing, in one transaction or a series of related transactions, of the Company’s first equity financing after the date hereof with aggregate gross offering proceeds of no less than five million dollars ($5,000,000) (excluding amounts received on conversion of promissory notes or exercise of any warrants).

Next Qualified Financing means the Company’s issuance and sale of shares of its Preferred Stock to one or more investors in a private financing transaction following the date hereof from which the Company raises gross proceeds of $10,000,000 (excluding amounts from the conversion of the Investor Notes) and that includes at least one new investor that is not affiliated with any existing holder of Preferred Stock, Investor Notes issued by the Company pursuant to the Note Purchase Agreement or convertible promissory notes (the “Prior Notes”) issued by the Company pursuant that certain Note Purchase Agreement, dated as of June 24, 2013, by and between the Company and the investors party thereto (the “Prior Purchase Agreement”). Holders who receive New Preferred Stock shall be subject to the terms and conditions of such Next Qualified Financing, which shall include broad-based weighted-average anti-dilution protection, and shall receive registration rights, a right of first offer, a right of first refusal and co-sale rights that are no less favorable than the most favorable of such rights granted to other investors in the Next Qualified Financing.

Next Qualified Financing means any transaction or series of transactions occurring on or after August 9, 2013 involving the sale of debt or equity securities of the Company (including any cash received by the Company from the exercise of Series B Preferred Stock warrants) for bona fide capital raising purchase with an aggregate gross proceeds of at least $5,000,000.