Next Round of Financing

Example Definitions of "Next Round of Financing"
Next Round of Financing. The closing of the first round of financing at the minimum amount of $10,000,000 or more, in a single round of financing (excluding the sale of the Notes and the issuance of securities issued upon conversion of the Notes, and excluding any other subsequent issuance of convertible debt). The determination of whether a particular financing constitutes "Next Round of Financing" shall be made by the Board
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