ADDITIONAL PURCHASES OF DEBENTURES Sample Clauses

ADDITIONAL PURCHASES OF DEBENTURES. At any time prior to twelve (12) months after the Closing Date upon receipt of written notice (the "Additional Tranche Notice Date"), the Investors shall have the right, and the Company shall have the right to require the Investors, to purchase up to $6,000,000 in additional aggregate principal amount of Debentures in two separate tranches of $3,000,000 each (each an "Additional Tranche"), and each Investor severally shall purchase from the Company, an additional principal amount of Debentures, in proportion to such Investor's then holdings in exchange for a cash payment equal to the principal amount of the Debentures to be acquired; provided, however, that the second Additional Tranche Notice Date may occur no earlier than 60 days after the first Additional Tranche Notice Date. The purchase of the Debentures shall be made on substantially the same terms and conditions as the purchase of the Debentures at the initial Closing and in accordance with the terms and conditions of this Article V.
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Related to ADDITIONAL PURCHASES OF DEBENTURES

  • Purchase of Notes and Warrants On the Closing Date (as defined below), the Company shall issue and sell to each Buyer and each Buyer severally agrees to purchase from the Company such principal amount of Notes and number of Warrants as is set forth immediately below such Buyer's name on the signature pages hereto.

  • Purchase of Convertible Debentures Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement, each Buyer agrees, severally and not jointly, to purchase at each Closing and the Company agrees to sell and issue to each Buyer, severally and not jointly, at each Closing, Convertible Debentures in amounts corresponding with the Subscription Amount set forth opposite each Buyer’s name on Schedule I hereto.

  • Additional Purchases Stockholder agrees that any shares of capital stock of the Company that Stockholder purchases or with respect to which Stockholder otherwise acquires beneficial ownership after the execution of this Agreement and prior to the Expiration Date ("New Shares") shall be subject to the terms and conditions of this Agreement to the same extent as if they constituted Shares.

  • Convertible Notes The Convertible Notes are subject to different conversion calculations depending on the event triggering conversion as described in the Notes (e.g., an IPO or other liquidity event). For illustration purposes, assuming the optional conversion right is exercised today, based on the current capitalization and the $50,000,000 assumed valuation specified for an optional conversion in the Notes, there would be 4,705,224 additional shares issued; provided however, that each holder of Notes is subject to a maximum 9.99% ownership of the shares of capital stock of the Company at any one time. This illustration calculation does not account for the 6% interest component.

  • Redemption of Debentures 15 Section 3.1. Redemption........................................................................16 Section 3.2. Special Event Redemption..........................................................16 Section 3.3. Optional Redemption by the Company................................................16 Section 3.4.