Curative Equity definition

Curative Equity means the common equity contributions made by Sponsor to Parent in immediately available funds which Parent contributes as additional common equity contributions to Borrowers in immediately available funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of this Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.

Curative Equity means the net amount of common equity contributions made by Sponsor to Borrowers in immediately available funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of the Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.

Curative Equity means equity investments (other than in respect of Disqualified Capital Stock) made by Permitted Holders, any Parent Company, any Excluded Entities or other holders of the Capital Stock of Ultimate Parent to Lead Borrower (whether directly or through one or more intermediate Persons) in immediately available funds.

Examples of Curative Equity in a sentence

• To the extent that Curative Equity is received and included in the calculation of the Specified Financial Covenant as deemed EBITDA or additional Current Assets, as applicable, for any fiscal quarter pursuant to this Section 5.20(d), such Curative Equity shall be deemed to be EBITDA or additional Current Assets, as applicable, for purposes of determining compliance with the Specified Financial Covenant for subsequent periods that include such fiscal quarter.

• Within 1 Business Day of the date of receipt by any Borrower of the proceeds of any Curative Equity pursuant to Section 10.4, such Borrower shall prepay the outstanding principal of the Loans in accordance with Section 5.1 in an amount equal to 100% of such proceeds, net of any reasonable out-of-pocket expenses incurred in connection with the issuance of such Curative Equity.

• Within one Business Day of the date of receipt by any Borrowers of the proceeds of any Curative Equity pursuant to Section 9.3, Borrowers shall prepay the outstanding principal of the Obligations in accordance with Section 2.4(f)(ii) in an amount equal to 100% of such proceeds.

• Borrower shall promptly (but in any event no later than 14 days after the receipt thereof) notify Administrative Agent of its receipt of any proceeds of Curative Equity and such notification shall constitute a designation by Borrower that such proceeds constitute Curative Equity.

• On the date of receipt by Borrower of the proceeds of any Curative Equity pursuant to Section 8.02, Borrower shall prepay the outstanding principal of the Obligations as set forth in Section 2.14(b) in an amount equal to 100% of such proceeds.

More Definitions of Curative Equity

Curative Equity means common equity (or other form of equity reasonably acceptable to Agent) contributions to Holdings in immediately available funds which Holdings contributes as additional common equity (or such other form of equity reasonably acceptable to Agent) contributions to Borrowers in immediately available funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of the Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.

Curative Equity means the net amount of proceeds received by the Borrowers from issuances of Equity Interests (or capital contributions in respect thereof) or Subordinated Debt (which Subordinated Debt shall not permit cash payments of interest or principal until Full Payment of the Obligations) in immediately available funds and which are designated “Curative Equity” by such Borrower under Section 10.3.3 at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Debt, trade payables, or otherwise) shall not constitute Curative Equity. CWA: the Clean Water Act (33 U.S.C. §§ 1251 et seq.).

Curative Equity the making of capital contributions to Holdings or the issuance of common Equity Interests by Holdings (other than Disqualified Equity Interests), in each case that are concurrently contributed to one or more Borrowers, for the purposes of, and in accordance with, Section 11.6.

Curative Equity is defined in Section 5.20(d).

Curative Equity means either (i) the common equity or Qualified Capital Stock contributions made to (by Sponsor or any other third party that is not a Subsidiary of Holdings), or issuances (to Sponsor or any other third party that is not a Subsidiary of Holdings), by Holdings in immediately available cash funds which Holdings contributes as additional common equity cash contributions to Borrower or (ii) Curative Sponsor Debt provided by Sponsor to Borrower, in each case, in immediately available cash funds and which is designated “Curative Equity” by Borrower under Section 10.04 at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.

Curative Equity means the making of capital contributions to the Company or the issuance of Equity Interests by the Company (other than Disqualified Equity Interests), for the purposes of, and in accordance with, Section 13.4.

Curative Equity means (a) a number of shares of Series A Preferred Stock equal to (i) the aggregate Curative Funding Amount (accounting for any Excess Curative Funding) divided by (ii) $1,000.00 and (b) warrants (in the same form, including at the same exercise price, as the Warrant) for a number of shares of Common Stock equal to (i) 0.0117 multiplied by (ii) the aggregate Curative Funding Amount (accounting for any Excess Curative Funding). Notwithstanding anything to the contrary herein, Article III shall not apply with respect to the funding and issuance of the Curative Capital and Curative Equity hereunder.