Initial Tranche Sample Clauses
The Initial Tranche clause defines the first portion of funds or assets to be provided or disbursed under an agreement. Typically, this clause specifies the amount, timing, and any conditions that must be met before the initial payment or delivery is made—for example, releasing a set sum upon contract signing or upon completion of certain milestones. Its core function is to establish clear terms for the commencement of financial or asset transfers, ensuring both parties understand when and how the initial resources will be made available, thereby reducing uncertainty and facilitating project or transaction kick-off.
Initial Tranche. On the basis of, and subject to, the conditions to the Initial Closing stated in Section 9.1 below and the representations and covenants made by the Borrower herein, the Lead Lender agrees to make a loan in the total amount of the Initial Tranche to the Borrower, at the Initial Closing, and the Borrower undertakes to receive from the Lead Lender the Initial Tranche, at the Initial Closing.
Initial Tranche. Subject to the terms and conditions set forth herein, the Closings (which may be on the same Closing Date) of the Initial Tranche on such date as the Company and Investors participating in the Initial Tranche shall mutually agree.
Initial Tranche. Subject to the terms and conditions set forth herein, the Closing of the Initial Tranche shall occur no later than five (5) Business Days following the date that the Registration Condition shall have been met in respect of the Investor Shares issuable in respect of the Notes and Warrants to be issued in the Initial Tranche.
Initial Tranche. Subject to the terms and conditions set forth herein, the Closing of the Initial Tranche shall occur on the Business Combination Date provided that the Registration Condition shall have been met in respect of the Commitment Shares.
Initial Tranche. (i) Subject to the terms and conditions of this Agreement, each Purchaser (a “Noteholder Purchaser”) that is a holder of one or more outstanding convertible promissory notes previously issued by the Company as reflected opposite such Purchaser’s name under the heading “Convertible Notes Amount Owed” on Exhibit A (in the case of such Noteholder Purchaser, the “Applicable Convertible Note(s)”) hereby agrees that, at the Initial Tranche Closing, the full amount owed by the Company to such Noteholder Purchaser through and including the date of the Initial Tranche Closing under such Noteholder Purchaser’s Applicable Convertible Note(s), which full amount owed is set forth opposite such Noteholder Purchaser’s name under the heading “Convertible Notes Amount Owed” on Exhibit A, shall convert into that number of shares of the Company’s Series D Preferred Stock, par value $0.001 per share (“Series D Preferred Stock”), set forth opposite such Noteholder Purchaser’s name under the heading “Note Conversion Shares” on Exhibit A (in the case of each Noteholder Purchaser, the “Note Conversion Shares” and, collectively with the Note Conversion Shares of all other Noteholder Purchasers, the “Total Note Conversion Shares”), at a conversion price per share equal to $0.4414 (the “Note Conversion Price”). Subject to the terms and conditions of this Agreement, the Company hereby agrees that, at the Initial Tranche Closing, the Company shall sell and issue to each Noteholder Purchaser the Note Conversion Shares to which such Noteholder Purchaser is entitled pursuant to the foregoing provisions of this Section 1.1(b)(i) upon conversion of the full amount owed by the Company to such Noteholder Purchaser through and including the date of the Initial Tranche Closing under such Noteholder Purchaser’s Applicable Convertible Notes. The number of Total Note Conversion Shares to be issued to the Noteholder Purchasers at the Initial Tranche Closing shall be 10,344,201. Notwithstanding anything to the contrary express or implied in the Applicable Convertible Note(s) of each Noteholder Purchaser, each Noteholder Purchaser hereby agrees that interest shall accrue under the Applicable Convertible Note(s) of such Noteholder Purchaser only through and including April 30, 2014. Upon the sale and issuance of the Note Conversion Shares by the Company to each Noteholder Purchaser at the Initial Tranche Closing pursuant to, and in accordance with, the terms and conditions of this Agreement (includin...
Initial Tranche. Subject to the terms and conditions set forth herein, the Closing of the Initial Tranche shall occur, promptly following the date on which the Company shall have refiled, with the SEC, the registration statement on Form S-1 registering the Investor Shares issuable, pursuant to the Notes and Warrants. to be issued pursuant to the Initial Tranche and the Second Tranche, that includes the Company’s audited financial statements; provided that the proceeds from the Note or Warrants issued in the Initial Tranche shall be released in accordance with Section 2.2(e)(i) and 2.2(f), respectively.
Initial Tranche. Upon the terms and subject to the conditions set forth in this Agreement, on the Initial Funding Date, (1) the Subscriber shall deliver to the Company (i) Two Hundred Ten Thousand United States Dollars (US$210,000) and (ii) a promissory note in the principal amount of Two Hundred Twenty Five Thousand United States Dollars ($225,000) in favor of the Company, in the form of Exhibit A attached hereto (the “Note”) (together, items (i) and (ii), the “Initial Consideration”); and (2) upon receipt by the Company of the Initial Consideration, the Company shall deliver to the Subscriber (i) the Initial Common Stock and (ii) the Preferred Stock.
Initial Tranche. The Initial Tranche shall be for $8,000,000 and may be drawn on or after the 15th calendar day following the consummation of the Equity Funding Obligation.
Initial Tranche. Subject to the terms and conditions set forth herein, the Closing of the Initial Tranche shall occur on the date of the final consummation of the Business Combination.
Initial Tranche. Upon approval of the Development Plan by the JSC and provided CardioNova has secured the Financing pursuant to Section 3.3, that number of shares of Common Stock to equal the quotient of 10% of the Aggregate Studies Budget first approved by the JSC divided by the Issue Price; and