Authorized Share Conversion Restriction Period

Authorized Share Conversion Restriction Period. The period commencing on the Closing Date and ending on the earliest to occur of: (a) December 26, 2022, if as of such date the Company shall not have consummated an Equity Financing, (b) the later to occur of (y) the Charter Effective Time and, (x) if the Charter Amendment provides for a reverse split of the Common Stock, the Reverse Split Effective Time, and (c) such date after December 26, 2022 as there shall otherwise be sufficient authorized, unissued and unreserved (other than for... issuance pursuant to the Convertible Notes and Warrants) Shares to provide for the issuance of the total number of Shares (including Additional Shares) that are then issuable (or may then become issuable) upon conversion of the Notes. Notwithstanding the foregoing, in the event the Stockholder Approval shall not have been obtained or the Charter Amendment Effective Time and, if applicable, the Reverse Split Effective Time shall not have occurred on or prior to April 12, 2023, such failure shall constitute an immediate Event of Default under the Facility Agreement and entitle the Lenders to all payments and remedies provided under the Facility Agreement upon the occurrence of an Event of Default. View More