Qualified Subsequent Financing definition

Qualified Subsequent Financing means any financing in which the Company raises additional capital of a minimum of $1 million from an independent third party lead investor (other than a financing led by the Majority Purchasers or an IPO).

Qualified Subsequent Financing means any issuance by the Company of any securities of the Company that results in gross proceeds of at least $2,000,000 to the Company from the sale of such securities to investors, pursuant to one or more definitive agreements in a form and with such provisions that are satisfactory to the Company and the Holder in a single transaction or related series of transactions, which consent from the Holder will not be unreasonably withheld.

Qualified Subsequent Financing means, other than an Exempt Issuance, any issuance effected following the 90th day following the Closing Date by the Company or any of its Subsidiaries for capital-raising purposes of Common Stock or Common Stock Equivalents for cash consideration.

Examples of Qualified Subsequent Financing in a sentence

• Within ninety (90) days following any Qualified Subsequent Financing (as defined below), the Majority Purchasers (in their sole discretion) may elect to purchase, and upon such election, the Company shall issue and sell to the Purchasers, and the Purchasers shall purchase (on a pro rata basis based on the number of shares of Series A Preferred Stock then held by such Purchasers), up to 7,142,857 shares of Series A Preferred Stock at a price equal to $1.40 per share.

• Upon consummation of a Qualified Subsequent Financing, the outstanding principal amount of this Note plus all accrued but unpaid interest thereon and any other payment due hereunder, shall automatically, without any further action required by the Holder, be converted into shares of a class of the Company’s, yet-to-be-issued senior convertible preferred stock, in a form reasonably acceptable to the Holder, at the Conversion Price.

• Notwithstanding anything to the contrary in this Paragraph 2, in addition to, and without limiting any other rights hereunder and under the other Transaction Documents, the Holder may elect, by written notice to the Company at any time following the date of delivery of the Qualified Subsequent Financing Notice through the date of actual payment in full in cash of the Mandatory Redemption Amount, to rescind such Mandatory Redemption.

• The shares of Common Stock issued to the Lender upon the conversion of this Note shall have piggy-back registration rights as provided in the Securities Purchase Agreement, dated an even date herewith, between the Lender and the Borrower in the event the Borrower closes upon a Qualified Subsequent Financing.

• Except as expressly set forth herein, the conversion price in effect on any Conversion Date shall be equal to the lower of (a) $0.0625 or (b) the price of the securities issued in a Qualified Subsequent Financing completed within the one (1) year anniversary of the Current Issue Date, subject to adjustment herein; provided, however, in no event shall the Conversion Price be greater than $0.25 (the “Conversion Price”).

More Definitions of Qualified Subsequent Financing

Qualified Subsequent Financing shall have the meaning ascribed to such term in the Notes.

Qualified Subsequent Financing means a Subsequent Financing resulting in cash gross proceeds to the Company in an amount equal to or greater than $1,000,000.

Qualified Subsequent Financing means a Subsequent Financing resulting in cash Qualified Subsequent Financing Net Proceeds (excluding any amounts paid or payable for any shares upon the exercise or conversion of any Common Stock Equivalents issued in such Qualified Subsequent Financing) to the Company in an amount equal to or greater than the minimum amount of cash necessary for the Company to effect a Mandatory Redemption of all, but not less than all, of the entire aggregate then outstanding principal amount of the Notes, plus accrued but unpaid interest thereon, Make-Whole Amount, Late Fees, liquidated damages and other amounts owing in respect thereof through the Mandatory Redemption Date under the Notes and the other Transaction Documents, at a cash redemption price equal to the Mandatory Redemption Amount on the Mandatory Redemption Date, such that all of the Notes may be so redeemed in full by the Company in accordance with their terms, including, without limitation, payment in full of the Mandatory Redemption Amount to the holders of the Notes.

Qualified Subsequent Financing means a Subsequent Financing (other than an Underwritten Subsequent Financing)_in which the Company receives at least $10,000,000 in gross proceeds.

Qualified Subsequent Financing means an offering for cash of Common Stock Equivalents with initial gross proceeds to the Company equal to or greater than $1,000,000 and not more than $6,000,000; provided that any such Common Stock Equivalents may be pari passu or junior but not senior to the Notes and the terms of such offering shall economically be no better to the investors in such offering than the terms provided for in the Notes, the Purchase Agreement or any other Transaction Document.

Qualified Subsequent Financing means an offering for cash of Common Stock Equivalents with initial gross proceeds to the Company equal to or greater than $1,000,000.

Qualified Subsequent Financing means a subsequent round of equity financing of the Joint Venture with aggregate proceeds to the Joint Venture that is in excess of US$200,000,000.