Qualifying Financing

Qualifying Financing. Shall mean the Company's first preferred stock financing for capital-raising purposes occurring prior to the Maturity Date (as defined below) that involves the receipt by the Company of at least $2,000,000.00 (including any amounts received in connection with the conversion of any and all Notes issued pursuant to the Agreement).

Qualifying Financing. One or more Financings within the 12 months before or following the Effective Date resulting in gross proceeds of not less than $15,000,000.