Common use of Equity Event Clause in Contracts

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.