Common use of Equity Commitment Letter Clause in Contracts

Equity Commitment Letter. A true and correct copy of the Equity Commitment Letter is attached hereto as Exhibit H. Pursuant to the Equity Commitment Letter, DLJ Merchant Banking Partners IV, L.P. and certain of its affiliated entities have agreed to provide DLJMB an aggregate amount of equity financing for the transactions contemplated by this Agreement equal to One Hundred Million Dollars ($100,000,000). The Equity Commitment Letter has not been amended, modified or supplemented and is in full force and effect and no event has occurred which, with or without notice, the lapse of time or both, would constitute a default on the part of DLJMB under the Equity Commitment Letter. There are no conditions precedent or other contingencies related to the funding of the full amount of such equity, other than as set forth in the Equity Commitment Letter.

Appears in 2 contracts

Sources: Contribution Agreement (Morgans Hotel Group Co.), Contribution Agreement (Morgans Hotel Group Co.)