Common use of Required Equity Clause in Contracts

Required Equity. Agent shall have received evidence reasonably satisfactory to Agent that Empeiria Investors LLC shall have purchased preferred shares (carrying no put options or mandatory redemption provisions that may be triggered prior to the date that is the one year anniversary of the expiration of the Term) of Empeiria which shall have generated net cash proceeds in an aggregate amount equal to at least $2,500,000 (the “Required Equity”).

Required Equity. Agent shall have received evidence reasonably satisfactory to Agent that Empeiria Investors Investors, LLC shall have purchased preferred shares (carrying no put options or mandatory redemption provisions that may be triggered prior to the date that is the one year six month anniversary of the expiration of the Term) of Empeiria which shall have generated net cash proceeds in an aggregate amount equal to at least $2,500,000 (the “Required Equity”).2,500,000;