Equity Kicker. In connection with each Funding Date, (i) such Lender (or the HoldCo Lender Equity Owners Affiliated with such Lender) shall have been granted Class C Units on the terms set forth in the Borrower LLC Agreement (such Class C Units, the “HoldCo Equity Kicker”) so that such Lender (or its Affiliated HoldCo Lender Equity Owners) holds a proportion of Class C Units (relative to all Class C Units) equal to the proportion of Loans of such Lender (relative to all Loans then outstanding) (and, if required under the Borrower LLC Agreement, such Lender shall sign a joinder to such agreement), (ii) such Lender and Borrower shall have agreed in writing as to the portion of such Loan allocated to the purchase of the corresponding HoldCo Equity Kicker as required pursuant toSection 2.01(e)and (iii) if the Borrower LLC Agreement has been amended since the Closing Date, such amendment shall be in form reasonably satisfactory to the Required Lenders.
Equity Kicker. After payment of the senior note, additional amounts are due and payable based on availability of Net Sale Proceeds or, if no sale, Net Appraisal Value. Holder's claim equals (a) the first $7.95 million of proceeds or value after payment of the senior note, and (b) 15% of any remaining proceeds or value.
Equity Kicker. Mortgagor agrees to pay to HUD f if teen percent of the gross sales price minus the mortgage balance upon a sale or conversion; or fifteen percent of the gross proceeds from a refinancing.
Equity Kicker. Not structured to contain an “equity kicker” or similar financing arrangement which shares with the lender any “equity” in the Property. Because of certain accommodations made under the Guaranty, Xxxxxxx’x required equity contribution under any Financing arrangement must be contributed in all material respects to the Property prior to any advance of Financing. Any Financing may be evidenced by one or more promissory notes and may be (but shall not be required to be) secured by one or more Mortgages. If any Financing is secured by a Mortgage, the Mortgage shall be subject to all of the terms and conditions set forth herein.
Equity Kicker. In connection with the Tranche A Funding Date, (i) such Lender (or the Lender Equity Owner Affiliated with such Lender) shall have been granted Class B Units on the terms set forth in the HoldCo Borrower LLC Agreement (such Class B Units, the “Equity Kicker”) so that such Lender (or its Affiliated Lender Equity Owner) holds a proportion of Class B Units (relative to all Class B Units) equal to the proportion of Loans of such Lender (relative to all Loans then outstanding), (ii) such Lender and Borrower shall have agreed in writing as to the portion of such Loan allocated to the purchase of the corresponding Equity Kicker as required pursuant to Section 2.01(f) and (iii) if the HoldCo Borrower LLC Agreement has been amended since the Closing Date, such amendment shall be in form reasonably satisfactory to the Required Lenders.
Equity Kicker. In consideration for the loan, Lender shall be entitled to an "Equity Kicker." The Equity Kicker shall consist of shares of Borrower's common stock. Lender is informed by the Borrower that the Borrower is contemplating a private placement offering of its securities, through a placement agent, and that the terms of such private placement are presently undergoing final negotiation (the "Private Placement"). Provided that any portion of the Private Placement is conducted and closed prior to the Maturity Date of the Promissory Note with gross proceeds to the Borrower in excess of $1,000,000, the Lender shall be entitled to an Equity Kicker equal to 40,000 shares of the Borrower's common stock for each $100,000 loan, or any pro rated portion thereof. For purposes of illustration only, assuming that the Lender loans $150,000 pursuant to this Loan Agreement and the Borrower closes upon a Private Placement in excess of $1,000,000; then, the Equity Kicker shall be equal to 60,000 shares of the Borrower's common stock.
Equity Kicker. As additional interest to Lender under this Note, -------------- Company agrees to issue and Lender agrees to accept a warrant for One Million Seven Hundred Twenty-Five Thousand (1,725,000) common shares of the Company (the "Warrants") at an exercise price of $0.04. Such Warrant is attached to this Note as Exhibit A.
Equity Kicker. After payment of loan and deferred interest, additional amounts are due and payable based on availability of Net Sale Proceeds or, if no sale, Net Appraisal Value. Holder's claim equals (a) the first $771,445.77, and (b) 20% of any remaining proceeds or value.
Equity Kicker. After payment of all three (3) loans (the documents provide various formulas for computation of the Equity Kicker in the event the loans are not paid off together), additional amounts are due and payable based on availability of Net Sale Proceeds or, if no sale, Net Appraisal Value (which Net Sales Proceeds or Net Appraisal Value, as applicable, includes amounts in the Master Reserve Account, the reserve accounts and the outstanding letter of credit). Holder's claim equals (a) after payment of the first $1.4 million to borrowers (which may be in the form of cancellation of any remaining face amount of a letter of credit held for the benefit of the first mortgagee), 50% of proceeds or value, up to the amount of the deferred interest (capped at $4.45 million), and (b) 25% of any remaining proceeds or value.
Equity Kicker. Client agrees to pay Ascendiant an Equity Kicker equal to Ten Percent (10%) of the Financing Warrants and corresponding Put rights due Shelter Island Opportunity Fund, pursuant to the Term Sheet executed between Client and Investor group (i.e., 4,000,000 warrants) with the same strike price, terms and conditions.
