Qualified Financing Stock definition
Examples of Qualified Financing Stock in a sentence
On or before the Mandatory Conversion Date, the Holder shall surrender this Note at the place designated in such notice, together with a statement of the name or names (with address) in which the certificate or certificates for shares of Qualified Financing Stock which shall be issuable on such conversion shall be issued.
On the Conversion Date, except as otherwise provided in the Note, the principal amount outstanding and all accrued interest then outstanding under the Note shall automatically convert into that number of Conversion Shares equal to (a) the sum of the outstanding principal amount and accrued interest on the Note on the Conversion Date divided by (b) the price per share paid by investors in the Qualified Financing for a share of Qualified Financing Stock.
Qualified Financing Stock shall include subsequent issuances of equity issued pursuant to definitive agreements for such Qualified Financing.
On or within three (3) business days after the Mandatory Conversion Date, the Holder shall surrender this Note at the place designated in such notice, together with a statement of the name or names (with address) in which the certificate or certificates for shares of Qualified Financing Stock which shall be issuable on such conversion shall be issued.
Article I (Definitions) of the Agreement is hereby amended by deleting Sections 10 (Conversion Date), 11 (Conversion Shares), 24 (Qualified Financing), and 25 (Qualified Financing Stock).
Upon the occurrence of a Qualified Financing (as hereinafter defined) prior to the Maturity Date, the unpaid Principal Amount on this Note shall be automatically converted ("Qualified Financing Conversion") into shares of the Corporation's capital stock of the same class or series issued in the Qualified Financing ("Stock").