Equity Guarantee definition
Examples of Equity Guarantee in a sentence
If you fail to meet your commitments under this Agreement, and this becomes a Continuing Default, we are not bound to honour the No Negative Equity Guarantee.
If we do not honour the No Negative Equity Guarantee, and Net Sale Proceeds of the Security Property are insufficient to repay the Total Amount Owing, you will still be liable to pay us the remaining amounts.
However, the No Negative Equity Guarantee means that the amount required to repay your Loan will not exceed the Net Sale Proceeds of the Security Property.
In addition, if the failure becomes a Continuing Default, we may be able to cancel the No Negative Equity Guarantee, the Loan Repayment Guarantee, the Lifetime Occupancy Guarantee or the Equity Protection Option (if applicable).
On the earlier of (i) the date of Financial Closing, (ii) the date otherwise required by the Senior Parties, or (iii) the date otherwise approved by the ERC, each Partner shall provide to the Partnership or the Senior Parties an Equity Guarantee in an amount equal to its Equity Ownership Percentage multiplied by the aggregate amount of Construction Equity Contributions required to be contributed by all of the Partners pursuant to the Equity Contribution Agreement.
Each of the Obligors will not, and will use commercially reasonable efforts to cause each Tax Equity Guarantor not to, amend, modify, supplement or terminate any Tax Equity Guarantee, other than to the extent that such amendment, modification, supplement or termination would not reasonably be expected to have a Material Adverse Effect.
The purpose of the Equity Guarantee Payment is to insure that Employee has the ability to receive a minimum $1 million pre-tax gain (net of Employee’s aggregate required investment) in the Company’s common stock available under those Employee’s Option that have vested.
If at any time during the four year period Company no longer has an obligation to pay the Equity Guarantee Payment because Employee could sell Company common stock for a net gain of at least $1 million, Company shall give Employee written notice within 30 days.
Employee shall be entitled to receive the Equity Guarantee Payment 30 days after the end of the four year period if, during the four year period, Employee could not at any time sell Company common stock (had he exercised all his then vested Employee’s Options) for a net gain of at least $1 million over the aggregate vested Option Price.
Notwithstanding anything set forth herein or in the Transaction Documents to the contrary, the costs of issuance and maintenance of each Equity Guarantee shall be borne and paid directly by the Borrower to the relevant Shareholder as a Project Cost in an amount equal to six tenths of one percent (0.60%) of the aggregate maximum guaranteed amount of each of the Equity Guarantees per annum.