Second Tranche Investment definition
Examples of Second Tranche Investment in a sentence
Notwithstanding anything to the contrary in this Agreement, RTW hereby agree that RTW’s right to consummate the Second Tranche Investment and purchase shares of Stock pursuant to this Section 1.4 shall not be assignable except to an affiliate or limited partner of RTW, and any attempted assignment by RTW shall be void.
On the date hereof, Target shall have consummated a private placement of its common stock, raising gross proceeds of $320,000 and obligating the investors therein to invest (the "Second Tranche Investment") an additional $180,000 upon finding commercial quantities of oil and gas in at least one of the first two test wells as provided in Section 6.5 and the schedule thereto.
Investor shall have delivered the Second Tranche Investment in accordance with Sections 1(a) and 1(d) hereof.
Subject to Section 15.4, BNGP is entitled to Transfer all or a portion of its Membership Interests to one or more Persons if the Second Tranche Investment has been paid in full and the Person to whom the Membership Interests are Transferred executes a Joinder Agreement.
The closing of the Second Tranche Investment shall occur two business days following the satisfaction or waiver of each of the conditions set forth in Section 5 and Section 6 hereof (the "Second Tranche Closing Date").
Davi▇ ▇▇▇▇▇▇, ▇▇thorized Signatory Second Tranche Investment: $150,000 Address: Tashdale Ltd.