Sale of Equity Securities. Borrower shall have provided Lenders with evidence reasonably satisfactory to Lenders that, on or after November 15, 2014, Borrower has received net cash proceeds of not less than Seventeen Million Five Hundred Thousand Dollars ($17,500,000) as a result of Borrower’s sale of Equity Securities.
Sale of Equity Securities a. Southern Security shall provide the Reserve Bank with at least 30 days advance written notice of the proposed sale or offering of any equity securities.
Sale of Equity Securities. Until the first day after the Restriction Period, uBid shall not sell or otherwise issue to any Person, or redeem or otherwise acquire from any Person, any Equity Securities of uBid; provided, however, that (i) the adoption by uBid of a rights plan shall not constitute a sale or issuance of Equity Securities; (ii) uBid may repurchase Equity Securities to the extent that such repurchases meet the requirements of section 4.05(1)(b) of Revenue Procedure 96-30, and (iii) uBid may issue Equity Securities of uBid (including issuances as compensation for services or pursuant to the exercise of compensatory stock options) that do not exceed in the aggregate a [40%] or greater interest in the Equity Securities of uBid over the period from and including the date of the Offering to the second anniversary of the Distribution Date and [45%] of the Equity Securities of uBid over the period from the date of the Offering to the end of the Restriction Period. For purposes of the preceding sentence (A) Equity Securities sold by shareholders of uBid pursuant to a uBid registration statement shall be considered to be Equity Securities issued by uBid, and (B) aggregate percentages shall be determined after taking into account the Equity Securities to be issued.
Sale of Equity Securities. Borrower shall, within forty-five (45) days after the date of this Agreement, provide Lenders with evidence reasonably satisfactory to Lenders that Borrower has received cash proceeds of not less than Ten Million Dollars ($10,000,000) from the sale of Borrower’s Series AA Preferred Stock, which amount shall be inclusive of the proceeds received by Borrower in satisfaction of the condition set forth in Section 3.2(f) of this Agreement.
Sale of Equity Securities. Without limiting the obligation of the Borrowers to obtain the consent of the Lenders in accordance with Section 13.01 with respect to any sale of equity securities not otherwise permitted hereunder, the Borrowers agree, on or prior to the closing of any sale of equity securities by the Borrowers or any of their Subsidiaries (other than the issuance of equity securities to employees in accordance with stock option and related employee benefit programs), to deliver to the Agent a statement certified by the Chief Financial Officer of the Borrowers' Agent, in form and detail reasonably satisfactory to the Agent, of the estimated amount of the Net Cash Payments of such sale of equity securities that will (on the date of such sale) be received by the Borrowers or their Subsidiaries in cash, and, upon the date of such sale of equity securities, the Borrowers shall prepay the Revolving Credit Loans by an aggregate amount equal to 100% of the Net Cash Payments of such sale of equity securities received by the Borrowers or their Subsidiaries, such prepayment to be effected in each case in the manner and to the extent specified in paragraph (d) of this Section 2.04.
Sale of Equity Securities. If the Borrower shall issue or sell any shares of its Common Stock without consideration or for a consideration per share less than the Conversion Price in effect immediately prior to the time of such issuance or sale (any such issuance or sale herein referred to as a “Dilutive Issuance”), then, forthwith upon such Dilutive Issuance, the Conversion Price shall be reduced automatically to the price determined by dividing:
Sale of Equity Securities. Without limiting the obligation of Hawk or its Subsidiaries to obtain the consent of the Lenders in accordance with SECTION 12.01 with respect to any sale of equity securities not otherwise permitted hereunder, the Borrowers agree, on or prior to the closing of any sale of equity securities by Hawk or any of its Subsidiaries (other than the issuance of equity securities to employees in accordance with stock option and related employee benefit programs), to deliver to the Agent a statement certified by the principal financial officer of the Borrowers' Agent, in form and detail reasonably satisfactory to the Agent, of the estimated amount of the Net Cash Payments of such sale of equity securities that will (on the date of such sale) be received by Hawk or its Subsidiaries, and, upon the date of such sale of equity securities, the Borrowers shall prepay the Loans by an aggregate amount equal to 100% of the Net Cash Payments of such sale of equity securities received by Hawk or its Subsidiaries, such prepayment to be effected in each case in the manner and to the extent specified in paragraph (e) of this SECTION 2.04.
Sale of Equity Securities. Borrower shall have provided Lender with evidence reasonably satisfactory to Lender that Borrower has received gross cash proceeds of not less than Five Million Dollars ($5,000,000) from the sale of Equity Securities.
Sale of Equity Securities. On the terms and subject to the conditions set forth herein, at the Closing and for the consideration further described in this Article II:
Sale of Equity Securities. The Company covenants that it will ------------------------- not, and will not permit any of its Subsidiaries to, sell or otherwise dispose of, or part with control of, any shares of Capital Stock of the Company or any of its Subsidiaries; provided, however, that the Company shall be permitted -------- ------- to sell (i) any of its shares of Capital Stock in a public offering of securities registered pursuant to Section 5 of the Securities Act if, and only if, (a) such offering shall meet the thresholds set forth in the definition of "Initial Public Offering" herein and (b) the net proceeds of such offering (after making any and all payments required under the Senior Loan Documents) are sufficient to allow the Company to make the mandatory redemption payments required under Section 5 of the Certificate of Designations, (ii) any of its shares of Capital Stock in a private offering of securities which is exempt from the registration requirements of
