New Funding Amount

New Funding Amount. Means additional gross cash proceeds from the sale of Series A Preferred Stock (which shall comprise substantially all the Ortec consideration provided in return for such proceeds), in an amount aggregating (i) not less than $8,000,000, less the gross proceeds heretofore received and to be received by Ortec from loans evidenced by the Bridge Notes, except for the gross proceeds received and to be received by Ortec from those Bridge Notes that are repaid and not converted into Series A Preferred... Stock in accordance with this Agreement, in which case the gross proceeds from such Bridge Notes that are repaid and not converted shall not be deducted, and (ii) not more than $20,000,000. View More

New Funding Amount. Not less than $8,000,000 (inclusive of the principal amount of bridge notes issued by the Company between October 2006 and the initial closing of the Private Placement, which are exchanged in the Private Placement) received by the Company in the initial closing of the Private Placement.

New Funding Amount. Means not less than $8,000,000 (inclusive of the principal amount of up to $2,800,000 in bridge notes issued by the Company between October 2006 and May 2007, which are exchanged in the Private Placement) for the Company's Series A Convertible Preferred Stock and Series A Warrants sold in the Private Placement.