General Terms Clause Example with 6 Variations from Business Contracts
This page contains General Terms clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
General Terms. Unless previously converted into shares of the common stock, $0.00001par value, of Shuttle Pharma or the common stock of any successor in interest to the Maker (each the "Common Stock") as contemplated hereby, this Note, together with all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier of the Company's completion of its IPO (as defined below) or July 31, 2023 (the "Maturity Date"). In the event that within 12 months of the Issuance Date, the Maker shall not ...have consummated an initial public offering of its Common Stock and the listing or trading of its Common Stock on a "Qualified Securities Market", as defined below (the "IPO"). (b) Interest. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten percent (10%) (the "Interest Rate") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash.View More
Variations of a "General Terms" Clause from Business Contracts
General Terms. Unless previously converted into shares of the common stock, $0.00001par value, Common Stock of Shuttle Pharma Origin or the common stock of any successor in interest to the Maker (each the "Common Stock") as contemplated hereby, this Note, together with all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier third (3rd) anniversary of the Company's completion of its IPO (as defined below) or July 31, 2023 Issuance Date first referred to above (the "Maturity Dat...e"). In the event that within 12 months of the Issuance Date, final closing of the offering contemplated by the Transaction Documents, the Maker shall not have consummated an initial initial, "firm commitment" underwritten public offering of its the Common Stock and concurrent listing of the listing or trading of its Common Stock on a "Qualified "National Securities Market", Exchange", as defined below (the "IPO"). "IPO") or other "Liquidity Event" (hereinafter defined), the Maker may elect either (a) upon fifteen (15) days prior written notice to the Holder, elect to prepay all of the Principal and accrued interest hereon, subject to the Holder's right to convert the Note into Common Stock during such fifteen (15) day period, or (b) if the Maker does not prepay the entire Principal or the remaining Principal, the Principal will be subject to an automatic, one-time increase to 110% of the then outstanding Principal. (b) Interest. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten six percent (10%) (6%) (the "Interest Rate") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash. However, in the event of an optional or mandatory conversion of the Note into shares of Common Stock (as provided herein), all accrued interest on the Principal subject to such conversion shall be waived. View More
General Terms. (a) Payment of Principal. Unless previously converted into shares of the common stock, $0.00001par $0.125 par value, of Shuttle Pharma RVeloCITY or the common stock of any successor in interest to the Maker (each the "Common Stock") as contemplated hereby, this Note, together with all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier of the Company's completion of its IPO (as defined below) or July 31, 2023 [November , 2024] (the "Maturity Date"). In the event... that within 12 months of the Issuance Date, the Maker shall not have consummated an initial public offering of its Common Stock and the listing or trading of its Common Stock on a "Qualified Securities Market", as defined below (the "IPO"). "IPO") or other "Liquidity Event" (hereinafter defined), the Maker may elect either (a) up on thirty (30) days prior written notice to the Holder, elect to prepay all of the principal amount of the Note and accrued interest hereon, subject to the Holder's right to convert the Note into Common Stock during such thirty (30) day period, or (b) if the Maker does not prepay the entire principal amount of the Note or the remaining principal amount of the Note, this Note will automatically increase to 110% of the original or unpaid portion of the outstanding principal amount. 1 (b) Interest. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten six percent (10%) (6%) (the "Interest Rate") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash. However, in the event of an optional or mandatory conversion of the Note into shares of Common Stock (as provided herein), all accrued interest on the Principal subject to such conversion shall be waived. View More
General Terms. Unless previously converted into shares The Outstanding Balance of the common stock, $0.00001par value, of Shuttle Pharma or the common stock of any successor in interest to the Maker (each the "Common Stock") as contemplated hereby, this Note, together with including all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier of the Company's completion of its IPO (as defined below) or July 31, June 30, 2023 (the "Maturity Date"). In the event that within 12 months... of the Issuance Date, the Maker shall not have consummated "IPO" means an initial public offering of its Maker's Class A Common Stock and the listing or trading of its Class A Common Stock on a "Qualified Securities Market", as defined below (the "IPO"). national securities exchange. (b) Interest. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten percent (10%) (the "Interest Rate") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash. View More
General Terms. Unless previously converted into shares of the common stock, $0.00001par $0.001 par value, of Shuttle Pharma Cadrenal Therapeutics or the common stock of any successor in interest to the Maker (each the "Common Stock") as contemplated hereby, this Note, together with all accrued interest hereon at the Interest Rate, shall be due and payable on three years from the earlier date of the Company's completion last closing of its IPO (as the Notes, as hereinafter defined below) or July 31, 2023 (the i...n Section 3(g)(iv)(the "Maturity Date"). In the event that within 12 18 months of the Issuance Date, the Maker shall not have consummated an initial public offering of its Common Stock and the listing or trading of its Common Stock on a "Qualified Securities Market", as defined below (the "IPO"). "IPO") or other "Liquidity Event" (hereinafter defined), the Maker may elect either (a) up on twenty (20) days prior written notice to the Holder, to prepay all of the Outstanding Balance of the Note and accrued interest hereon, or (b) if the Maker does not prepay the entire principal amount of the Note or the remaining principal amount of the Note, this Note will automatically increase to 110% of the original or unpaid portion of the outstanding principal amount. (b) Interest. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten six percent (10%) (6%) (the "Interest Rate") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash. However, in the event of an optional or mandatory conversion of the Note into shares of Common Stock (as provided herein), all accrued interest on the principal subject to such conversion shall be waived. View More
General Terms. Unless previously converted into shares of the common stock, $0.00001par value, of Shuttle Pharma or the common stock of any successor in interest to the Maker (each the "Common Stock") as contemplated hereby, this Note, together with all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier of the Company's completion of its IPO (as defined below) or July December 31, 2023 2024 (the "Maturity Date"). In the event that within 12 months of the Issuance Date, the Ma...ker shall not have consummated an initial public offering of its Common Stock and the listing or trading of its Common Stock on a "Qualified Securities Market", as defined below (the "IPO"). "IPO") or other "Liquidity Event" (hereinafter defined), the Maker may elect either (a) up on thirty (30) days prior written notice to the Holder, elect to prepay all of the principal amount of the Note and accrued interest hereon, subject to the Holder's right to convert the Note into Common Stock during such thirty (30) day period, or (b) if the Maker does not prepay the entire principal amount of the Note or the remaining principal amount of the Note, this Note will automatically increase to 110% of the original or unpaid portion of the outstanding principal amount. (b) Interest. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten six percent (10%) (6%) (the "Interest Rate") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash. However, in the event of an optional or mandatory conversion of the Note into shares of Common Stock (as provided herein), all accrued interest on the Principal subject to such conversion shall be waived. View More
General Terms. Unless previously converted into shares of the common stock, $0.00001par $0.00001 par value, of Shuttle Pharma or the common stock of any successor in interest to the Maker (each the "Common Stock") as contemplated hereby, this Note, together with all accrued interest hereon at the Interest Rate, shall be due and payable on the earlier of the Company's completion of its IPO (as defined below) or July December 31, 2023 2022 (the "Maturity Date"). In Date") in the event that within 12 months of th...e Issuance Date, Date the Maker shall not have consummated an initial public offering of its Common Stock and the listing or trading of its Common Stock on a "Qualified Securities Market", as defined below Nasdaq, the NYSE or NYSE America (the "IPO"). (b) Interest. Interest shall accrue from the Issuance Date on the Original Principal Amount or other outstanding Principal at an annual rate of ten percent (10%) (the "Interest Rate") and all accrued interest shall be fully paid on the Maturity Date (or sooner as provided herein) to the Holder or its assignee in whose name this Note is registered on the records of the Maker regarding registration and transfers of Notes in cash. View More
