Equity Raise Sample Clauses

Equity Raise. Beginning with the calendar quarter ending June 30, 2012, and continuing each calendar quarter thereafter, Borrower shall raise not less than $7,500,000 of Net Offering Proceeds from sales of Equity Interests in REIT by the end of such calendar quarter.

Equity Raise. If, during any given fiscal quarter of BH Borrower, there is insufficient cash to, on a pro forma basis, repay the Advances under the SP Facility in cash and any Sprott Royalty payment that is due and payable (other than those Sprott Royalty payments which have or will become due and payable in that fiscal quarter and the immediately preceding fiscal quarter), BH Borrower shall forthwith enter into an equity financing for net proceeds sufficient to repay the SP Facility and all Sprott Royalty (including all Deferred Sprott Royalty Payments) in full.

Equity Raise. (a) The Company shall use commercially reasonable efforts to cause the consummation of the Equity Raise, and exercise its commercially reasonable efforts to take, or cause to be taken, appropriate action, and to do, or cause to be done, such things as are necessary, proper or advisable under applicable Laws or otherwise to consummate and make effective the Equity Raise as soon as reasonably practicable, but no later than the Outside Date, including, without limitation, using its commercially reasonable efforts to obtain all permits, consents, approvals, authorizations, qualifications and orders of Governmental Authority (and consents, approvals and agreements of Persons other than Governmental Authority, including the Company Shareholders’ Approval) necessary for the consummation of the Equity Raise. (b) Notwithstanding anything else set forth in this Agreement, the Company, upon (i) becoming aware of any termination (or purported termination) of any of the subscription agreements (including this Agreement), entered into by the Company with any Person in connection with the Equity Raise (each, a “Subscription Agreement” and collectively, the “Subscription Agreements”), or (ii) not expecting to receive any portion of the full amount of the Equity Raise on the terms, in the manner or from the sources contemplated by the Subscription Agreements, shall have the right to amend one or more Subscription Agreements or enter into one or more new subscription agreements with any Person, as required to consummate, and obtain the full amount of, the Equity Raise; provided that such transactions shall (x) not be under terms less favorable to the Company than those contained in this Agreement, when considered as a whole, (y) be at a price of US$0.06313 per Ordinary Share of the Company, and (z) not cause the amount of the Equity Raise to exceed US$90,000,000, provided that the Company may not amend a Subscription Agreement entered into with any other party which has fully complied with the terms thereunder without the written consent of the Investor.

Equity Raise. The Company shall keep the Noteholders reasonably apprised with respect to the discussions related to the Equity Raise, including any changes to the proposed pricing or other terms. The Company shall not modify the Subscription Agreements without the consent of the Noteholders (including, without limitation, any waiver of any lock-up periods contained therein) and shall enforce all of its rights thereunder. Other than conditions customary in private placements of equity securities, the Equity Raise shall not be subject to any material conditions precedent other than the consummation of the Exchange Transaction. The Company shall not use any proceeds from the Equity Raise to repay any indebtedness, including the Credit Facility or any other Notes (other than the cash payments required under this Agreement). In connection with the Equity Raise, the Company shall not grant any registration rights to any Person that would provide such Person rights which are materially superior to the Noteholders’ rights with respect to any registration pursuant to the Registration Rights Agreement. Additionally, the Company shall not enter into any contract, agreement or understanding with any person that would give rise to a valid claim against any of them for a brokerage commission, finder’s fee or like payment in connection with the Equity Raise in excess of 4.0% of the gross proceeds of the Equity Raise, which for the avoidance of doubt shall not be payable in respect of any amounts raised pursuant to the Subscription Agreements.

Equity Raise. No later than two weeks following the Third Amendment Effective Date, Borrower shall deliver to Agent either (x) executed commitment letters with respect to a private Equity Raise (including from Whitecap or any of its Affiliates) or (y) evidence of the filing of an S-1 with respect to a public Equity Raise.” (h) The following provision shall be inserted as Section 7.1.24 [Business Management Consultant] of the Credit Agreement:

Equity Raise. Borrower shall have completed the Series D preferred equity raise on terms and provisions reasonably satisfactory to the Administrative Agent, which results in minimum gross cash proceeds to Borrower of at least $75,000,000.

Equity Raise. The Borrower shall have received net cash proceeds of at least $32,500,000 from the issuance of its Qualified Capital Stock on or prior to the Funding Date (the “Equity Raise”).

Equity Raise. The Agent shall have received evidence reasonably satisfactory to Agent that Borrower has completed a minimum gross common equity raise of not less than $25,000,000.00.

Equity Raise. The Company shall have received US$90,000,000 as part of the Equity Raise, including all amounts committed to be funded by the Investor under this Agreement.