Base Equity Clause Samples
The Base Equity clause defines the initial ownership interest or shareholding that a party holds in a company or venture at the outset of an agreement. It typically specifies the percentage or number of shares allocated to a founder, investor, or stakeholder before any future dilution or additional investment rounds. This clause ensures that all parties have a clear understanding of their starting equity position, which is crucial for determining voting rights, profit distributions, and future changes in ownership. Its core function is to establish a transparent baseline for equity ownership, preventing disputes over original entitlements as the company evolves.
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Base Equity. Borrower shall have, and shall have certified and accounted in form and substance acceptable to Lender that Borrower has, received and applied the proceeds of cash equity contributions from Pledgor or Sponsor to the payment of Project Costs in an aggregate amount not less than the Base Equity Requirement.
Base Equity. Not less than $230,000,000 shall have been irrevocably and unconditionally contributed as “Base Equity” (as defined in the Common Terms Agreement) to the Company.
Base Equity. A certificate from the Chief Finance Officer or a director of the Company certifying that the Sponsors have, in aggregate and without double counting, capitalised MPBL Investments and its subsidiaries (but excluding the Excluded Subsidiaries) (the “MPBL Investments Group”) to an amount equal to or greater than USD2.0 billion (of which a minimum of USD1.0 billion comes from the IPO), whether by way of equity injection, subordinated shareholders’ loans and/or through accounting for acquisitions and other consolidation entries within the MPBL Investments Group).
Base Equity. DOE shall have received, in form and substance satisfactory to DOE, certification from the Collateral Agent, together, with such other evidence as DOE may request, (a) of the aggregate amount of Base Equity that has been funded with respect to such Advance, and (b) that, after the application of such Advance, the amount of Base Equity that has been used to fund Eligible Project Costs is equal to at least 21% of the Eligible Project Costs incurred and paid.
Base Equity. The Loan Servicer shall have received, in form and substance satisfactory to each Relevant Credit Party in consultation with the Lenders’ Engineer, certification from the Collateral Agent, together with such other evidence as any Relevant Credit Party may request, of the aggregate amount of Base Equity that has been funded with respect to such Advance.
Base Equity