QTUM definition
Examples of QTUM in a sentence
Except as set forth in “Document Preparation Shares” above, Purchaser and QTUM shall each be responsible for its own expenses in connection with this transaction.
The Company shall repay the Bridge Notes and any accrued interest at the earlier of (a) the closing of the contemplated Secondary Public Offering (as defined herein), or (b) March 31, 2007 ("Maturity Date"); provided however that such Maturity Date may be extended for up to 60 days upon prior written notice from Newbridge to QTUM and Purchasers.
QTUM shall be solely responsible for the payment of placement agent fees to Newbridge.
Any purchaser, transferee or assignee of a Bridge Note, Bridge Shares, Document Preparation Shares, or Public Offering Securities is a “Holder” or collectively “Holder.” QTUM shall deliver to the Escrow Agent (as defined in "Closing Date Escrow" below) with in five days Following the mutual execution of this Financing Agreement a copy of an application for a minimum of $500,000 of key man life insurance on ▇▇▇▇ ▇.
In addition, QTUM shall issue to HCF thirty-three thousand thee hundred thirty-three (33,333) Bridge Shares for each 30 day period, or part thereof, that the Bridge Note remains unpaid after the Maturity Date.
QTUM agrees to pay to Newbridge a placement agent fee consisting of: (a) a cash fee equal to 10% of the Gross Proceeds of this Offering; (b) a non-accountable expense allowance equal to 3% of the Gross Proceeds of this Bridge Units Offering; and (c) a warrant for each $50,000 of Bridge Note principal sold in this Bridge Units Offering ("Placement Agent Warrant").
None of the Loan Parties or any Subsidiaries of any Loan Party is in violation of (i) any term of its certificate of incorporation, bylaws, certificate of limited partnership, partnership agreement, certificate of formation, limited liability company agreement or other organizational documents or (ii) any material agreement or instrument to which it is a party or by which it or any of its properties may be subject or bound where such violation constitutes a Material Adverse Change.
QTUM and HCF agree that QTUM shall be solely responsible for the payment of placement agent fees to Newbridge in the amount of $50,000 plus a warrant to purchase sixty-six thousand six hundred sixty-seven (66,667) shares of common stock at $0.20 per share for five years from the Closing Date.
In the event QTUM has a dissolution event, change in control, a financing of at least $4,000,000 (excluding the proposed SPO), or a merger or sale of substantially all of its assets, the Purchasers (a) must be given not less than 20 days prior written notice; and (b) shall have the option to receive payment of the principal and any accrued and unpaid interest of the Bridge Notes at the closing of such event or transaction, or to convert such Bridge Notes prior to the closing of such event or transaction.
Purchasers shall have the right to convert all or any part of the principal and accrued interest of the Bridge Notes prior to the payment in full of the Bridge Notes into any QTUM securities thereafter offered including, but not limited to, the SPO (Conversion Securities).