Qualified Additional Financing

Qualified Additional Financing. Means the receipt by the Company, subsequent to issuance of this Note, in one or more transactions or agreements, of aggregate gross proceeds of at least Seventeen Million Dollars ($17,000,000) from (i) the sale of the Company's equity securities to unrelated third parties (other than Excluded Issuances) and/or (ii) Qualified Collaborative Financing; provided that at least Seven Million Five Hundred Thousand Dollars ($7,500,000) of such aggregate amount shall be from sales of equity securities... to unrelated third parties. For purposes of this definition, a third party shall be "unrelated" if neither such third party nor any affiliate of such third party has entered into, or in connection with such purchase of Company equity securities would enter into any joint venture, development, distribution, licensing, supply or similar agreement with the Company or any Company subsidiary. View More