Exit Event Payment definition
Exit Event Payment meansany time, (i) if an Exit Event occurs within the first thirty (30) daysthe outstanding principal amount and accrued interest as of the Initial Borrowing Date, $50,000, (ii) if an Exit Event occurs more than thirty (30) days after the Initial Borrowing Date but within (60) dayssuch time for all Loans made to the Borrower under this Agreement that have been outstanding, as of the Initial Borrowing Date, $100,000, and (iii) if an Exit Event occurssuch time, for more than sixty (60) days after the Initial Borrowing Date, $200,000from the applicable Credit Event at which such Loan was made to Borrower.
Exit Event Payment means thirty percent (30%) of the Exit Event Proceeds.
Exit Event Payment is defined in Article 7.1;
Examples of Exit Event Payment in a sentence
Subject to Article 7.2(b)(iv), the Exit Event Payment will be paid immediately after the closing of the first to occur of either a Liquidation Event or Initial Public Offering.
The Exit Event Payment with regards to an Initial Public Offering will be paid to UBC in the form of cash.
Subject to applicable law and the requirements of any applicable stock exchanges, the Exit Event Payment with regards to a Liquidation Event will be paid to UBC in the form of the proceeds payable to either Licensee or its security holders, whether in cash, securities or other property, and in the same proportion such form of consideration is payable to the Licensee or its security holders.
More Definitions of Exit Event Payment
Exit Event Payment means, (i) if an Exit Event occurs within the first thirty (30) days of the Initial Borrowing Date, $50,000, (ii) if an Exit Event occurs more than thirty (30) days after the Initial Borrowing Date but within (60) days of the Initial Borrowing Date,