Equity Event Clause Samples

Equity Event. Provide evidence to Agent, on or prior to March 31, 2009, that the Equity Event has occurred by such date."

Equity Event. The Equity Event must occur on or before February 29, 2000. For purposes of this credit facility, the "Equity Event" is defined as the earlier to occur of, (i) the successful completion of the initial public offering of the common shares of the capital stock of Borrower or (ii) the successful sale of Series D preferred stock of Borrower, in each case that shall yield gross proceeds of not less than $25,000,000.

Equity Event. Confirmation by Agent that the Equity Event has occurred.

Equity Event. (a) On or before December 31, 2012, Borrower shall deliver to Bank a fully executed term sheet from investors acceptable to Bank with respect to an equity or convertible subordinated note financing providing Borrower with cash proceeds of at least $8,000,000, on terms reasonably acceptable to Bank (“Investor Financing”). (b) On or before January 31, 2013, Borrower shall receive at least $8,000,000 in cash proceeds from the closing of the Investor Financing, or Borrower shall have consummated its IPO. 9. Exhibit C and Exhibit D to the Loan and Security Agreement are replaced in its entirety with the Exhibit C and Exhibit D attached hereto.

Equity Event. Borrower shall provide evidence to Bank by no later than June 30, 2018 of Borrower’s receipt of not less than Seven Million Dollars ($7,000,000) of cash proceeds from the sale of Borrower’s equity securities on terms reasonably satisfactory to Bank.

Equity Event. On or before December 31, 2000, Integrated Packaging Assembly Corporation shall have received cash proceeds from investors acceptable to Servicing Agent of at least Five Million Dollars ($5,000,000) from the sale or issuance of its equity securities.

Equity Event. Borrower shall receive, after the First Amendment Effective Date and on or before September 30, 2022, gross proceeds of at least Ten Million Dollars ($10,000,000) (less 1.00% proceeds fees and costs) from the sale and issuance of Borrower’s equity securities or Subordinated Debt (excluding the Subordinated Debt issued in satisfaction of the Tranche 2 Milestones).”

Equity Event. On or before March 31, 2024, deliver evidence to Bank, in a form and substance acceptable to Bank in all respects, that, from and after February 1, 2024, ▇▇▇▇▇▇▇▇ has received additional unrestricted and unencumbered net cash proceeds from the sale of Borrower’s equity securities to investors reasonably satisfactory to Bank resulting in ▇▇▇▇▇▇▇▇’s receipt of at least $6,000,000.00 in unrestricted and unencumbered cash at closing.” 2.4 Section 12.2 (Definitions). The definition of “Eligible Accounts” in Section 12.2 of the Loan Agreement is amended by deleting subsection (y) and inserting the following as new subsection (y) thereof: |

Equity Event. As an integral element of the commercial terms of the Equity Participation and Plan, in recognition of the immediate value of the Participating Pilots’ Investments to the Company and Republic as set forth above, the Company and Republic shall work in good faith to create an Equity Event on or before December 31, 2014, depending upon market conditions. 1. An Equity Event will be defined as: a. Investment in the Company by investors other than affiliates of Republic and/or public equity issuance by the Company that, when combined with the Equity Participation of the Participating Pilots and equity participation of other key stakeholders, totals greater than 51% of the outstanding equity in the Company; or b. a merger, sale or other change of control transaction that results in ownership by a third party of greater than 51% of the business or assets of the Company. c. The parties shall work in good faith to structure the Equity Investor Agreement in a tax efficient manner.