17 Net Proceeds

17 Net Proceeds. Means, with respect to any Liquidation Event, the total Fair Market Value of all Property received as proceeds by the stockholders of the Company and/or the Company, as applicable, minus reasonable out of pocket transaction costs and expenses (other than any taxes of any kind payable with respect to the transaction) incurred by the Company in connection therewith. For purposes of a Liquidation Event which is described in Section 1.6(e) above, the term "Net Proceeds" shall be deemed to be less... than $10,000,000. For purposes of a Liquidation Event which is described in Section 1.6(c) above where the Net Proceeds are paid to the Company for a new stock issuance and the stockholders of the Company do not receive any consideration, the Net Proceeds shall be calculated as the "pre-money" valuation of the Company utilized in such stock issuance. View More