Equity Threshold Amount definition

Equity Threshold Amount has the meaning specified in Section 3.07(b)(x).

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Equity Threshold Amount means, with respect to any Public Equity Issuance, $100,000,000, provided that if a Borrowing Base Deficiency exists immediately prior to such Public Equity Issuance or after giving effect thereto then, the Equity Threshold Amount will be reduced to such amount (but not less than 0) as shall be necessary so that after giving effect to the application of the Net Cash Proceeds of such Public Equity Issuance pursuant to Section 2.10(b), the Borrowing Base Deficiency shall be cured; provided further, that if immediately prior to such Public Equity Issuance an Event of Default shall have occurred and be continuing, the Equity Threshold Amount shall be 0.

Equity Threshold Amount has the meaning set forth in Section 2.1(a) of this Agreement.

Examples of Equity Threshold Amount in a sentence

• This Agreement shall terminate upon the earliest of (a) the date on which the Investors collectively cease to hold the Equity Threshold Amount and (b) written agreement of the parties hereto to terminate this Agreement; provided, however, that the termination of this Agreement shall not relieve any party hereto with respect to any liability for breach of this Agreement prior to such termination.

• For so long as the First Equity Threshold Amount is satisfied, the Company shall, upon written request by the Investor Representative, take all Necessary Action, subject to the following provisos, to cause the chairman of the Board (the “Chairman”) to be the member of the Board that is designated in writing by the Investor Representative, acting on behalf of the Investors, hereunder.

• This Agreement shall terminate upon the earlier of (a) the date on which the Investors collectively cease to hold each of the First Equity Threshold Amount and the Lender Threshold Amount and (b) written agreement of the parties hereto to terminate this Agreement; provided, however, that the termination of this Agreement shall not relieve any party hereto with respect to any liability for breach of this Agreement prior to such termination.

• For the avoidance of doubt, as of the date of this Agreement, (i) the First Equity Threshold Amount, the Second Equity Threshold Amount and the Lender Threshold Amount are each satisfied, (ii) the Investors are entitled to appoint a total of three (3) individuals to serve as Investor Directors pursuant to this Section 2.2 and (iii) the initial Investor Directors shall be ▇▇▇▇▇▇▇ ▇.