Equity Event definition

Equity Event is the receipt by Borrower on or after the Effective Date of unrestricted net cash proceeds of not less than Forty Million Dollars ($40,000,000.00) from the issuance and sale by Borrower of its equity securities, on or before March 31, 2016 and the receipt of evidence thereof by Collateral Agent on or before such date, which evidence must be reasonably acceptable to Collateral Agent.

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Equity Event means (a) the contribution in cash of capital (x) to the Borrower by any Person or (y) to any Significant Subsidiary (other than an Excluded Subsidiary) by any Person other than the Borrower or a Wholly-Owned Subsidiary of the Borrower, or (b) any issuance of Equity Interests (x) by the Borrower to any Person or (y) by any Significant Subsidiary (other than an Excluded Subsidiary) to any Person other than the Borrower or a Wholly-Owned Subsidiary of the Borrower.

Equity Event means, with respect to a Person, any sale or issuance of such Person’s securities for financing purposes (whether in a private placement, registered offering or otherwise).

Examples of Equity Event in a sentence

• Borrower shall pay to Bank a modification fee equal to Fifty Thousand Dollars ($50,000.00), which fee shall be deemed fully earned as of the date hereof and shall be due and payable upon the earliest of (a) the occurrence of the 2009 Equity Event, (b) March 15, 2009, and (c) the occurrence of an Event of Default.

• In addition, until such time as the Equity Event shall have occurred, the Offer Loan Commitments shall be automatically reduced by an amount equal to the net proceeds of any issuance or disposition or any payment to TUC, in each case described in Section 2.11(d), with such reduction to be effective on the later to occur of the date of such issuance, sale or payment, as the case may be, and the date specified under Section 2.11(d) for any related prepayment or repayment of the Offer Loans.

• KPP will not permit its Consolidated Net Worth at any time to be less than an amount equal to 80% of the Consolidated Net Worth as at December 31, 1999, plus 80% of the Net Cash Proceeds of any Equity Event by KPP or any of its Subsidiaries.

• Bank hereby agrees to waive the Existing Default, provided no default other than the Existing Default has occurred or is continuing, upon the occurrence of the 2009 Equity Event.

• Compliance with this covenant may be additionally extended beyond January 31, 2000 if equity or subordinated debt over the sum of the $12,000,000 (Equity Event plus Five Million Dollars) is obtained by Borrower.

More Definitions of Equity Event

Equity Event is the receipt by Borrower on or after the February 1, 2013 of unrestricted net cash proceeds of not less than Four Million Dollars ($4,000,000.00) from the issuance and sale by Borrower of its equity securities.

Equity Event means the receipt by Borrower on or after February 20, 2013 of at least Forty Million Dollars ($40,000,000) in net cash proceeds from the sale of Borrower’s equity securities to investors reasonably acceptable to Bank and the incurrence of debt from OrbiMed pursuant to the OrbiMed Loan Documents, in each case, on terms and conditions reasonably acceptable to Bank.

Equity Event means confirmation by Bank that Borrower has received, after the Effective Date, but on or prior to November 9, 2017, unrestricted and unencumbered (other than Liens in favor of Bank) net cash proceeds in an amount of at least Thirty Million Dollars ($30,000,000.00) from the issuance and sale by Borrower of its equity securities to investors.

Equity Event means (a) the contribution in cash of capital

Equity Event means the receipt by Borrower, after the Effective Date, of unrestricted net cash proceeds of at least Thirty Million Dollars ($30,000,000.00) from (i) the closing of a Qualifying IPO, (ii) the closing of an equity round of financing pursuant to the private sale of Borrower’s equity or convertible debt securities, or (iii) up-front payments from a joint venture or partnership.

Equity Event means the receipt by Borrower after the Closing Date of not less than Fifteen Million Dollars ($15,000,000) from the sale or issuance of its equity securities.

Equity Event is the receipt by Borrower, on or after June 1, 2021 and on or before June 30, 2022, of unrestricted net cash proceeds of at least Sixty Million Dollars ($60,000,000.00) from the sale and issuance of its equity securities and/or milestone or upfront payments under license agreements.