Subsequent Series Sample Clauses
The "Subsequent Series" clause defines how future rounds of securities or investment offerings will be handled after the initial issuance. Typically, this clause outlines the terms under which additional series of shares or interests may be created, including any rights, preferences, or restrictions that will apply to these new series. For example, it may specify that new series cannot have rights superior to those of existing holders without their consent. The core function of this clause is to provide predictability and protection for current investors by ensuring that future issuances do not unfairly dilute or disadvantage their interests.
Subsequent Series. Subsequent Series of promissory notes (collectively, the “Supplemental Notes”) may be issued pursuant to Supplemental Note Purchase Agreements as provided in Section 2.3 in an aggregate principal amount not to exceed $200,000,000 and: (a) shall be sequentially identified as “Series B Notes”, “Series C Notes”, “Series D Notes” et seq. and may consist of more than one different and separate tranches, but all such different and separate tranches of the same Series shall constitute one Series; (b) shall be in the aggregate principal amount of not less than $25,000,000 per each such series, (c) shall be dated the date of such Supplemental Note Purchase Agreement, (d) shall bear interest from such date at the rate per annum to be determined as of such date, (e) shall bear interest on overdue principal (including any overdue optional prepayment of principal) and premium, if any, and, to the extent permitted by law, on any overdue installment of interest at the stated rate plus 2%, (f) shall be subject to required amortization, if any, and optional prepayments, and (g) shall be expressed to mature on the stated maturity date, all as set forth in the Supplemental Note Purchase Agreement relating thereto and shall otherwise be substantially in the form attached hereto as Exhibit 1.5; provided, no Supplemental Notes shall be issued if at the time of issuance thereof and after giving effect to the application of proceeds therefor, any Default or Event of Default shall have occurred and be continuing. The Original Series A Notes, and the Supplemental Notes are herein sometimes collectively referred to as the “Notes” and individually as a “Note.” As used herein, the term “Notes” shall include, without limitation, each Note delivered pursuant to the Existing Note Purchase Agreement and any Supplemental Note Purchase Agreement at the Initial Closing and/or at any Supplemental Closing and each Note delivered in substitution or exchange for any such Note pursuant hereto.
Subsequent Series. Subsequent Series of promissory notes (collectively, the "Subsequent Notes") may be issued pursuant to Supplemental Note Purchase Agreements as provided in Section 2B in an aggregate principal amount not to exceed $70,000,000 and (i) shall be sequentially identified as "Series G Notes", "Series H Notes", "Series I Notes", et seq.;
Subsequent Series. The Issuer may issue Additional Bonds for an existing Series of Bonds, or Additional Bonds for a new Series of Bonds, pursuant to Article XV hereof. The proceeds of any subsequent Series of Bonds shall be applied as provided in the supplemental indentures providing for the issuance of such Additional Bonds.
Subsequent Series. Subsequent Series of promissory notes ----------------- (collectively, "Subsequent Notes") may be issued pursuant to Supplemental Note Purchase Agreement, as provided in Section 1.3(b) in an aggregate principal -------------- amount not to exceed $5,000,000 and shall (i) be identified as "Series C Notes"; (ii) shall be in the aggregate principal amount; (iii) shall be dated the date; (iv) shall bear interest from such date at the rate per annum and at the frequency; (v) shall bear interest on overdue principal (including any overdue optional prepayment of principal) and premium, if any, and, to the extent permitted by law, on any overdue installment of interest at the rate; and (vi) shall be expressed to mature on the date, all as set forth in the Supplemental Note Purchase Agreement relating thereto and shall otherwise be substantially in the form attached hereto as Exhibit 1.1(b). --------------
Subsequent Series. Subsequent series of notes ("Subsequent Notes") may be issued pursuant to Supplemental Note Purchase Agreements as provided in Section 2.2 in an aggregate principal amount not to exceed $50,000,000, shall be sequentially identified as "Series B Notes," etc. and shall be in the aggregate principal amount, be dated, bear interest, be subject to required and optional prepayments and shall mature as provided in the Supplemental Note Purchase Agreement pursuant to which they are issued, and shall be substantially in the form set out in Exhibit 2. The Series A Notes and the Subsequent Notes are collectively referred to as the "Notes," such term to include any such notes issued in substitution therefor pursuant to Section 13 of this Agreement."
Subsequent Series. 2 SECTION 2.