Equity Injection definition
Examples of Equity Injection in a sentence
Lender agrees, for so long as no Default or Event of Default exists and if requested by Borrower until the earlier of the date of receipt by Borrower of the Equity Injection or June 30, 2005, to permit an Overadvance of not more than $500,000 (“Overadvance Limit”).
If the Equity Injection is not consummated between the Closing Date and March 31, 2009, an additional 50 basis points times the full $60,000,000 Aggregate Commitment shall be due and payable on April 1, 2009.
Notwithstanding anything contained in this Section 9.4 to the contrary, the minimum Availability required by this Section 9.4 shall be waived until the earlier to occur of: (i) the date Borrower receives any of the Equity Injection, or (ii) June 30, 2005.
If the Borrower does not receive the Equity Injection by December 31, 2008, the Committed Loan(s) shall bear interest on the outstanding amount thereof for each Interest Period at a rate per annum equal to the applicable Floating Rate or Eurodollar Rate plus the Applicable Margin set forth in subsection (b) of the definition of Applicable Margin.
If the Equity Injection has not been received between November 26, 2008 and March 31, 2009, an additional 50 basis points times the full $60,000,000 Aggregate Commitment shall be due and payable on April 1, 2009.