Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 181

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 181
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 equal to 1/10 thof the sum of (x) the principal amount of the October Convertible Notes, and (y) the aggregate interest that will accrue through the maturity date, (B) interest due and payable under the October Convertible Notes, and (C) other amounts specified in the October Convertible Notes (such sum being the “Installment Amount”); provided, however, if on any Installment Date, no failure to meet the Equity Conditions (as defined in the October Convertible Notes) exits pursuant to the October Convertible Notes, the Company may pay all or a portion of the Installment Amount with shares of its common stock. The portion of the Installment Amount paid with common stock shall be based on the Installment Conversion Price. “Installment Conversion Price” means the lower of (i) the Conversion Price (defined below) and (ii) the greater of (x) 92% of the average of the two (2) lowest daily VWAPs (as defined in the Convertible Note) in the ten (10) trading days immediately prior to each conversion date and (y) $1.00. “Equity Conditions Failure” means that on any day during the period commencing twenty (20) trading days prior to the date installment notices are required to be delivered with respect to the applicable Installment Date, the Equity Conditions have not been satisfied (or waived in writing by the Holder). “Equity Conditions” means, during the period in question, (a) the Company shall have duly honored all conversions and redemptions scheduled to occur or occurring by virtue of one or more conversion notices of the holder of the October Convertible Notes, if any, (b) the Company shall have paid all liquidated damages and other amounts owing under the October Convertible Notes, if any (c)(i) there is an effective registration statement pursuant to which the holder is permitted to utilize the prospectus thereunder to resell all of the shares of common stock issuable pursuant to the October Convertible Notes and the October 3i Warrants or (ii) all of the shares of common stock issuable pursuant to the October Convertible Notes and the October 3i Warrants may be resold pursuant to Rule 144 under the Securities Act (“Rule 144”) by a person that is not an affiliate (as defined in Rule 144 as in effect on the Issuance Date) of the Company, and that has not been an affiliate (as defined in Rule