Funding Contract Clauses (140)

Funding. Licensee shall raise no less than Ten Million Dollars (US) in equity financing on or before May 1, 2022. 4.2. License Maintenance Fee. Licensee shall pay Elkurt a license maintenance fee of One Hundred Ten Thousand Dollars ($110,000) within 30 days of achieving the funding provided in Section 4.1, or by May 15, 2022 whichever shall first occur. Beginning on January 1, 2022 and each year thereafter, Licensee shall pay Elkurt an annual License Maintenance Fee of three thousand dollars ($3,000). Be...ginning on January 1, 2028, and every year thereafter said annual License Maintenance Fee shall be Four thousand dollars ($4,000). 2 Section 10.2.2.4 of the License Agreement as amended (regarding termination if certain fund raising is not achieved) is hereby amended by deleting the date "October 1, 2021" and inserting in place thereof the date, "May 1, 2022." 3 That as to Exhibit B, The Commercialization Plan of the License Agreement, each of the dates shown thereon are hereby extended by the term of one year, reflecting the amendment to the fundraising date. 4 As amended by this Amendment, all provisions of the License Agreement remain in full force and effect and are hereby ratified and confirmed. All references to the License Agreement, wherever, whenever or however made or contained, are and shall be deemed to be references to the License Agreement as amended by this Amendment. Section 12.6 of the License Agreement (regarding Governing Law and Jurisdiction) is incorporated herein by reference and made a part hereof and shall govern this Amendment in all respects. This Amendment may be executed in counterparts, each of which shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same instrument. The signatories may execute this Amendment by electronic means and signatures, copies of which shall each be deemed to be originals. This Amendment constitutes the entire understanding between the parties hereto with respect to the matters contained herein and this Amendment shall not be modified except in writing executed by all parties hereto. View More

Funding. The Award is unfunded. Participant's right to receive payment hereunder will be no greater than the right of an unsecured creditor of Noble and Participant will not have any rights in or against specific assets of Noble.

Funding. Maker agrees to fund the loan evidenced by this Note on the following schedule: One Hundred Thousand Dollars ($100,000.00) on or before October 15, 2019 (the "Initial Installment"); and Four Hundred Thousand Dollars ($400,000.00) on or before October 24, 2019 (the "Subsequent Installment"). Maker agrees that from and after Maker's execution of this Note and acceptance of the Initial Installment from Payee, and as a condition of Payee's agreement to advance the loan contemplated herein to Maker, ...Payee will have a binding and enforceable right to timely advance to Maker the Subsequent Installment, and upon timely funding such Subsequent Installment to receive the shares of Maker's Common Stock contemplated in Section 4. View More

Funding. The Company may purchase shares of the Fund corresponding to the Fund shares that are notionally credited to Participant's Account in order to enable the Company to fund its obligations under this Agreement. Any such shares will be owned by and held in the name of the Company, and neither Participant or Participant's Beneficiary (or any other person claiming through or under Participant or Participant's Beneficiary) shall have any legal or equitable ownership interest in, or lien on, such shares... or any other assets of the Company that may be set aside or earmarked for the satisfaction of the Company's obligations under this Agreement. If the Company elects to maintain a separate fund or makes specific investments to fund its obligations under this Agreement, the Company reserves the right, in its sole discretion, to terminate such method of funding at any time, in whole or in part. Nothing contained herein and no action taken by the Company pursuant to the provisions hereof shall be deemed to create a trust of any kind or a fiduciary relationship between Participant or Participant's Beneficiary (or other interested person) and the Company or the Committee (or any of its or their affiliates, agents or employees), or require the Company to maintain or set aside any specific funds for the purpose of paying any amounts that may become payable hereunder. Any amount payable to a Participant or Beneficiary pursuant to the Plan shall be paid from the general assets of the Company. Nothing contained herein and no action taken by the Company pursuant to the provisions hereof shall be deemed to create a trust of any kind or a fiduciary relationship between any Participant or Beneficiary (or other interested person) and the Company or the Committee (or any of its or their affiliates, agents or employees), or require the Company to maintain or set aside any specific funds for the purpose of paying any amounts that may become payable hereunder. To the extent that a Participant or Beneficiary acquires any rights to receive payments under the Plan, such rights shall be no greater than the rights of any unsecured general creditor of the Company. If and to the extent that Participant or Participant's Beneficiary has the right to receive payments under this Agreement in settlement of Participant's vested Account, such right shall be that of a general unsecured creditor of the Company, it being understood that the Company's obligations hereunder are unfunded and unsecured for purposes of applicable law. View More