Deferred Capital Call definition

Deferred Capital Call means a resolution approved by the board of directors of the Borrower which allows the Borrower to require equity contributions to be made in an aggregate amount equal to $6,000,000, with the Borrower having discretion over the timing of the actual cash call. The Administrative Agent may require the Borrower to exercise the right to require such capital contributions upon the occurrence (and during the continuance) of an Event of
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Examples of Deferred Capital Call in a sentence

  • The Lenders hereby consent to the termination of the Deferred Capital Call and agree that any reference to the Deferred Capital Call in the Credit Agreement shall be null and void.

  • The Borrower shall at all times maintain the Deferred Capital Call in full force and effect with the full $6,000,000 available to be called upon; provided that the foregoing requirement shall terminate on the later of (i) the date that the Administrative Agent shall be satisfied that the Borrower shall have outperformed the financial covenants set forth in Section 5.13 hereof by at least 0.50x for two consecutive fiscal quarters or (ii) June 30, 2017.

  • The Borrower will not, nor will it permit any other Loan Party to, amend, modify or waive any of its rights under (a) any Subordinated Debt Document, (b) any documentation relating to the Deferred Capital Call, or (c) its organizational documents (in any manner adverse to the Lenders).