Equity Transaction. Upon receipt by the Parent of the proceeds from any Equity Transaction at a time when Term Loans are outstanding, the Parent shall prepay the Term Loans in an aggregate amount equal to Fifty Percent (50%) of the Net Cash Proceeds of such Equity Transaction (to be applied as set forth in Section 3.3(c) below).
Equity Transaction. Borrowers shall have closed, or be prepared to simultaneously close with the closing of the Loans, the Equity Transaction on terms and conditions satisfactory to Agent and each Lender.
Equity Transaction. The Agents shall have received evidence satisfactory to them that Borrower has received, on or immediately prior to the Effective Date, not less than $5,000,000 in cash proceeds from the sales of shares of Borrower's common stock and/or Series B Preferred Stock.
Equity Transaction. The transactions contemplated by the U.S. Purchase Agreement, dated of even date herewith, among the Representatives and the Issuer and the L.L.C. shall have occurred contemporaneously with the transactions contemplated herein.
Equity Transaction. You agree engage MLV to assist the Company with an equity financing (“Equity Transaction”); provided, that MLV’s acceptance of such engagement shall be subject to the final determination of the type of equity financing.
Equity Transaction. (i) Upon the occurrence of Established Business Success and the relevant terms of this Agreement, LifeLight shall transfer, convey, assign and deliver to AppTech and AppTech shall receive from LifeLight a 70% interest of all of LifeLight’s rights, title and interest in assets, properties and rights free and clear of all liens. This includes, but is not limited to, all of LifeLight’s rights to (i) real property and improvements, whether owned or leased by LifeLight, (ii) all furniture, fixtures and equipment, (iii) intellectual property and (iv) all agreements, contracts, instruments, files and other relevant documents. Initials: _______ Initials: ________
Equity Transaction. The consideration payable by the Buyer in the Equity Transaction is (i) a base cash purchase price of $60.5 million, as well as the issuance by the Buyer of a subordinated promissory note to PPSI in the aggregate principal amount of $5.0 million (the “First Seller Note”) and a subordinated promissory note to PPSI in the aggregate principal amount of $2.5 million (the “Second Seller Note,” and together with the First Seller Note, the “Seller Notes”), in each case subject to adjustment pursuant to the terms of the Stock Purchase Agreement. Pursuant to the terms of the Stock Purchase Agreement, the Seller Notes will bear interest at an annualized rate of 4.0%, to be paid-in-kind annually, and will have a maturity date of December 31, 2022. In addition, pursuant to the terms of the Stock Purchase Agreement, the Buyer will have the right to set-off amounts owed to Pioneer Power under the First Seller Note on a dollar-for-dollar basis by the amount of any indemnifiable losses Buyer suffers as a result of certain actions or omissions by Pioneer Power or the Disposed Companies.
Equity Transaction. Following consummation of the Management Contract Assignment Transaction, Owners shall sell to Purchaser, and Purchaser shall acquire from Owners, all of the issued and outstanding shares of stock of Mayflower, free and clear of all Liens and otherwise pursuant to the terms and conditions of that certain Equity Purchaser Agreement attached hereto as Exhibit B (the "Equity Purchase Transaction"). Following consummation of the Equity Purchase Transaction, Purchaser shall cause the termination of the Management Contract.
Equity Transaction. The Borrower shall fail to complete an equity transaction (which may consist of the issuance and sale of additional equity securities or the conversion of outstanding indebtedness) resulting in additional cash equity to the Borrower in the amount of at least $100,000,000, all on such terms and conditions as shall be reasonably satisfactory to the Bank, by not later than June 30, 2000.
Equity Transaction. The Equity Transaction does not occur on or prior to July 31, 2012. THEN, (1) upon the occurrence of any Event of Default described in Section 8.1(f) or 8.1(g), automatically, and (2) upon the occurrence of any other Event of Default, upon notice to Borrower by Administrative Agent, (A) the Commitments, if any, of each Lender having such Commitments shall terminate; (B) the unpaid principal amount of and accrued interest on the Loans and all other Obligations shall immediately become due and payable, in each case without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by each Credit Party; and (C) Administrative Agent may enforce any and all Liens and security interests created pursuant to Collateral Documents.
