Initial Equity. A certificate of an Authorized Officer of Borrower certifying that Borrower shall have provided the Initial Equity and itemizing the uses of the Initial Equity, such certificate to be accompanied by backup materials evidencing such Initial Equity and the use of same.
Initial Equity. Subject to approval by the Board, Executive shall be granted an option to purchase 800,000 shares of common stock of the Company (the “Option”) with an exercise price equal to the fair market value of the common stock as of the date of grant. The Option shall be subject to and governed in all respects by the terms of the governing equity plan documents and grant agreement(s) between Executive and the Company thereunder and shall be subject to a vesting schedule whereby one-quarter (1/4) of the shares subject to the Option shall vest one year after grant, with the remaining shares vesting in equal monthly installments over the following three years thereafter, subject to Executive’s continuous service.
Initial Equity. The Agent shall have received evidence acceptable to it that ALC shall have raised equity that yields to ALC, on an aggregate basis, at least $800,000,000 in net cash proceeds.
Initial Equity. In the event of the occurrence of an Maturity Event or an Event of Default, the Property’s Initial Equity is in the amount of _______________________ ($_____). [Insert amount equivalent to: The lesser of--(i) the appraised value of the Property that was used at the time of origination of the HOPE for Homeowners (H4H) Mortgage to underwrite the mortgage and to determine compliance with the maximum loan-to-value ratio at origination established by 12 U.S.C. § 1715z-23(e)(2)(B); or (ii) the outstanding amount due under all existing senior mortgages, existing subordinate mortgages, and non-mortgage liens on the Property; minus the original principal amount of the H4H Mortgage.]
Initial Equity. Executive will receive a restricted stock grant of a certain number of shares of the Company’s common stock (the “Restricted Stock Award”) with an aggregate value of $1,000,000.00 as of the effective date of the Restricted Stock Award (the “Grant Date”), which shall be the earliest day permitted pursuant to the terms of the Company’s Equity Award Approval Policy following commencement of the Term. The Restricted Stock Award will be subject to the terms and conditions of that certain Restricted Stock Award Agreement between the Company and Executive dated effective as of the Grant Date (the “Restricted Stock Agreement”), including such terms and conditions as are incorporated from the Company’s 2012 Long-Term Incentive Plan (the “2012 LTIP”). The restricted stock included in the Restricted Stock Award will vest ratably in four (4) annual installments, subject to Executive’s continued employment with the Company and accelerated vesting under certain circumstances as specified herein and in the Restricted Stock Agreement.
Initial Equity. (a) In consideration of the advisory and consulting services hereunder, the Consultant will have the right to be granted options to purchase shares of Common Stock of the Company, the grant of such options shall be subject to the Company achieving specified Net Sales during certain periods (the "Initial Options"). In the event that during the First Period, the Company achieves Net Sales of at least $100 million, then the Consultant shall be granted options to purchase 500,000 shares of Common Stock, par value $.01 per share, of the Company (the "Boca Common Stock"), at an exercise price of $2.95 per share. In the event that during the period commencing on April 1, 1998 and continuing through March 31, 1999 (the "Second Period"), the Company achieves Net Sales of at least $125 million, then the Consultant shall be granted options to purchase 1,000,000 shares of Boca Common Stock, at an exercise price of $2.95 per share. The Initial Options shall be granted at such time during the applicable period as the applicable Net Sales target for such period has been achieved.
Initial Equity. The Borrower shall have evidenced to the satisfaction of the Administrative Agent cash capital contributions from its members in an amount not less than twenty-five percent (25%) of the aggregate budgeted costs and expenses of the acquisition and construction of such Project and the operation thereof as reflected in the Project Summary & Feasibility Report with respect to such Project as initially approved, or deemed approved, by the Administrative Agent and the Lenders.
Initial Equity. Borrower shall have caused the entire Initial Equity to be applied to the payment by Borrower of the purchase price for the acquisition of a ground leasehold interest in the Land and certain costs and expenses related thereto;
Initial Equity. In consideration of the Services to be provided by Consultant, its affiliates and any third party suppliers under this Agreement and subject to Stock Restrictions, within 5 days following the termination of the cease trade order issued by the Alberta Securities Commission on April 3, 2013, Petrosonic will issue to Consultant 9,000,000 Shares of common stock (the “Share Consideration”). Subject to the terms of this Section 5.1, Petrosonic will have the option to purchase from Consultant up to 3,000,000 Shares of the Share Consideration, at par value, upon the occurrence of the following:
Initial Equity. The Company shall grant to Executive 6,000 shares of restricted stock, subject to a two-year ratable vesting period and the terms and conditions of the Equity Incentive Plan and standard equity award agreement(s) to be entered into by and between the Company and Executive. If Executive commences employment on or before February 24, 2009, then the grant date for such 6,000 shares of restricted stock will be February 24, 2009; if Executive commences employment between February 25, 2009 and March 5, 2009, then the grant date will be date on which Executive commences employment.
