Next Stock definition

Next Stock means the stock into which the attached Note is convertible, and for which the attached Warrant is exercisable. Next Stock shall be the same class and series and have the same rights and limitations including, but not limited to, anti-dilution protection and registration rights as the Company's stock, which is the subject of the Next Qualified Equity Financing. The Investor shall not have any right to modify or negotiate the terms upon which such stock is issued.
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Next Stock is defined for purposes of this Note in Section 1.6 of the Agreement.
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Next Stock means the Company's Preferred Stock issued in the Next Qualified Equity Financing. However, if there is no Next Qualified Equity Financing before March 31, 2000, Next Stock shall refer to the Company's Series A Preferred Stock which shall have all rights allocated to Series A Preferred Stock as described in the Company's Certificate of Incorporation, as amended.
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Examples of Next Stock in a sentence

  • Next Stock shall be the same class and series and have the same rights and limitations including, but not limited to, anti-dilution protection and registration rights as the Company's stock, which is the subject of the Next Qualified Equity Financing.

  • Any amendment or waiver effected in accordance with this Section shall be binding upon all parties to this Agreement, including, without limitation, any holder who may not have executed such amendment or waiver, and each future holder of any equity security into which the Note is convertible and/or any holder of Next Stock that is received upon the exercise of the Warrant.

  • Conversion shall be deemed effective upon issuance of Next Stock.

  • The Company hereby allocates to the Warrant a purchase price of $0.01 for each share of Next Stock that the Warrant is exercisable into and such purchase price shall be retained by the Company from the principal of the Investor's Note by the Company and this amount will not accrue interest or convert into any other security.

  • The term "Next Stock" shall mean the stock into which the attached Note is convertible, and for which the attached Warrant is exercisable.

  • The Holder shall have no right to negotiate any of the terms or conditions upon which the Next Stock shall be issued, which negotiation shall be conducted solely among the Company and the purchasers of the Next Stock.

  • As promptly as practicable after any conversion of this Note and the Holders' surrender of this Note, the Company, at its expense, shall issue and deliver to the Holders of this Note a certificate or certificates evidencing the number of shares of Next Stock issuable to the Holders upon any such conversion and any associated warrant.

  • Upon the Next Qualified Equity Financing (as defined below), the principal amount of the Note plus any accrued but unpaid interest will be automatically converted into that number of shares of the Company's Next Stock issued in the Next Qualified Equity Financing as is equal to the then principal balance of the Note plus any accrued but unpaid interest divided by the price per share of the Company's Next Stock.

  • This Warrant shall be exercisable into the number of shares of Next Stock specified in Section 2.4 above.

  • In the event of any taking by the Company of a record of the holders of Next Stock for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, the Company shall notify the Holder in writing of such record date at least twenty (20) days prior to the date specified therein.


More Definitions of Next Stock

Next Stock is defined for purposes of this Note in Section 1.5 of that certain Convertible Promissory Note and Warrant Purchase Agreement of even date herewith.
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Related to Next Stock

  • Common Stock means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed.

  • Common Shares means the common shares in the capital of the Corporation;

  • Shares means the shares of Common Stock issued or issuable to each Purchaser pursuant to this Agreement.

  • Dividend Shares means any shares of Common Stock issuable in lieu of cash dividends paid or to be paid on the Series A Preferred.

  • Unit Shares has the meaning ascribed thereto in the first paragraph of this Agreement;

  • Parent Stock means the common stock, par value $0.01 per share, of Parent.

  • Company Stock means, collectively, the Company Common Stock and the Company Preferred Stock.

  • Ordinary Shares means the ordinary shares, par value $0.0001 per share, of the Company.

  • Qualifying Preferred Stock means non-cumulative perpetual preferred stock of the Corporation that (a) ranks pari passu with or junior to all other preferred stock of the Corporation, and (b) either (x) is subject to a Qualifying Replacement Capital Covenant or (y) is subject to Intent-Based Replacement Disclosure and has a provision that prohibits the Corporation from paying any dividends thereon upon its failure to satisfy one or more financial tests set forth therein, and (c) as to which the transaction documents provide for no remedies as a consequence of non-payment of dividends other than Permitted Remedies.

  • Series B Common Stock means the Series B Common Stock, par value $0.01 per share, of the Company.

  • Common Warrant Shares means the shares of Common Stock issuable upon exercise of the Common Warrants.

  • Common Stock Equivalents means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

  • Holdings Common Stock means the common stock of Holdings, par value $.01 per share.

  • Ordinary Shares Equivalents means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Ordinary Shares, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Ordinary Shares.

  • Plan Shares means the total number of Common Shares which may be reserved for issuance as Optioned Shares under the Plan as provided in §2.2;

  • Series A Common Stock means the Series A Common Stock, par value $0.01 per share, of the Company.

  • Common Stock Dividend means a stock dividend declared and paid on the Common Stock that is payable in shares of Common Stock.

  • Newco Common Stock means the common stock, par value $.01 per share, of Newco.

  • Series B Stock means the Company's Series B Convertible Preferred Stock, par value $0.000001 per share.

  • Class B Common Shares means the Class B Convertible Voting Common Shares of the Company, par value $1.00 per share.

  • Class B Common Stock means the Class B common stock, par value $0.0001 per share, of the Company.

  • Equivalent Shares means Preferred Shares and any other class or series of capital stock of the Company which is entitled to the same rights, privileges and preferences as the Preferred Shares.

  • Stock Election Shares shall have the meaning set forth in Section 3.2.1.

  • Common Share Equivalents means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Shares, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Shares.

  • Amalco Common Shares means the common shares in the capital of Amalco;

  • New Preferred Stock means the Convertible Series A Preferred Stock and the Series B Preferred Stock.