EQUITY LOCK IN Sample Clauses

The Equity Lock In clause restricts shareholders from selling, transferring, or otherwise disposing of their equity stake in a company for a specified period. Typically, this applies to founders, key employees, or early investors, ensuring they retain their shares for a set duration, such as during the initial years after investment or until certain milestones are met. The core function of this clause is to promote stability and commitment among key stakeholders, preventing premature exits that could undermine investor confidence or disrupt the company’s operations.
EQUITY LOCK IN. 20.1 The aggregate equity shareholding of the lead member in the consortium/joint venture shall not be less than 51% from the effective date. The lead member shall have to take prior approval from DISCOM for any reduction or addition in equity shareholding in the consortium or joint venture. 20.2 Any member of the consortium other than the Lead Member shall hold equity in Distribution Franchisee not less than twenty (20%) of the equity capital of the consortium or joint venture upto period of Five (5) years from the effective date. He may transfer all its shareholding to lead member thereafter. After period of Five (5) years from the effective date the Consortium or Joint Venture may however replace an existing member with a new equity holder. In case of existing member replaced with a new equity holder/member, the new member shall have to submit its credentials to establish its eligibility as stipulated under RFP. 20.3 The distribution franchisee shall bring to the notice of Discom atleast two months prior to dilution of equity or transfer of shareholding by any of the entity(s) or replacement of existing member. However in case of new member replacing the member from consortium shall have to meet the qualifying criteria as stipulated in request for proposal (RFP) 20.4 The provisions as contained in this Agreement shall override the terms of the Consortium Agreement submitted as part of the Bid. Annexures attached hereto form part of the Agreement. a) They are not prevented under the applicable Laws and Regulations to enter into this Agreement; b) They have obtained the required authorizations/ permits to sign this Agreement.
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EQUITY LOCK IN. 2.4.1 The aggregate equity share holding of the Successful bidder in the issued and paid-up equity share capital of the Developer shall not be less than 51% (Fifty One percent) up to a period of two years after the Project Completion Date; Lead Member of the Developer, shall compulsorily hold at least 51% (fifty one percent) of the total paid-up equity share capital of the SPV up to a minimum period of 2 years after the project completion date.; In case the Developer was a consortium, each member of the Developer whose technical experience has been considered to fulfil the technical eligibility criteria, shall hold a minimum of 24% (twenty four percent) equity in the SPV upto a minimum period of 2 (two) year after the project completion date. It is clarified that in case the Developer was a Consortium of entities, then the third member (other than the Lead Member & the Technical Member) of such Consortium shall be permitted to divest its equity in the SPV (Developer) as long as the other Members, i.e. the Lead Member & the Technical Member always hold their minimum equity specified above. 2.4.2 In case any member of the consortium has drawn the credentials of its holding/subsidiary company, the holding company shall maintain the holding/subsidiary relationship as defined in the Companies Act, 1956, and shall continue to provide requisite support to the Bidder for the successful implementation of the project till the termination or the expiry of the term /concession period. Further, the holding/subsidiary company whose credentials had been drawn shall continue to provide requisite support to the Developer for such period for the successful implementation of the project.
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Related to EQUITY LOCK IN

  • Equity Investment “Equity Investment” shall mean pursuant to IRC § 45D(b)(6) and 26

  • GRANT OF THE RIGHT TO PURCHASE COMMON STOCK (a) For value received, the Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase, from the Company, up to the aggregate number of fully paid and non-assessable shares of Common Stock (as defined below) as determined pursuant to Section 1(b) below, at a purchase price per share equal to the Exercise Price (as defined below). The number and Exercise Price of such shares are subject to adjustment as provided in Section 8. As used herein, the following terms shall have the following meanings:

  • Equity Investments Equity Investments, which, to the extent constituting Stock other than common Stock, shall be on terms and conditions and pursuant to documentation reasonably satisfactory to the Joint Lead Arrangers and Bookrunners to the extent material to the interests of the Lenders, in an amount not less than the Minimum Equity Amount shall have been made.

  • Investment Objectives, Policies and Restrictions The Trust will provide Adviser with the statement of investment objectives, policies and restrictions applicable to the Fund as contained in the Trust's registration statements under the Act and the Securities Act of 1933, and any instructions adopted by the Trustees supplemental thereto. The Trust will provide Adviser with such further information concerning the investment objectives, policies and restrictions applicable thereto as Adviser may from time to time reasonably request. The Trust retains the right, on written notice to Adviser from the Trust, to modify any such objectives, policies or restrictions in any manner at any time.

  • Prohibition of City Funding for Purchase of Single Serving Bottled Water The City’s policy is that City funds should not be used for the purchase of single-serving bottled water except for any of the following: • Public safety emergencies, investigations and extended deployments or activation of the Office of Emergency Services; • Situations where there is a high risk of cross-contamination with non-potable water; or • Situations where there are no reasonable alternatives to bottled water, such as large public events and when large quantities of water need to be distributed for health and safety reasons. An invoice seeking reimbursement from City for the cost of single-serving bottled water under one of the above exceptions must be accompanied by a waiver form provided by the City and signed by the Director.