Common use of Equity Raise Clause in Contracts

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.