Initial Capitalization means financing that is
Initial Capitalization means the sum of (i) the Initial Market Value of a BPY Unit multiplied by the number of BPY Units issued and outstanding on the last trading day of the Initial Trading Period (assuming full conversion or exchange of any limited partnership interests held by any member of the Brookfield Group in the Partnership into BPY Units), plus (ii) for each class or series of security of other members of the BPY Group (excluding for this purpose any Operating Entity) that are not held by the BPY Group, the Initial Market Value of a security of such class or series multiplied by the number of securities of such class or series issued and outstanding on the last trading day of the Initial Trading Period (calculated on a fully-diluted basis), plus (iii) the principal amount of all debt not captured by paragraph (ii) of this Section 1.1.62 owed by each member of the BPY Group (excluding for this purpose any Operating Entity and amounts owed to any member of the Brookfield Group under the Revolving Credit Facility) on the date of the Spin-Off, which debt has recourse to any member of the BPY Group (excluding for this purpose any Operating Entity), less any amount of cash held by all members of the BPY Group (excluding for this purpose any Operating Entity) on the date of the Spin-Off;
Initial Capitalization means financing that is provided for the development, refinement, or commercialization of a product or process and other working capital needs;
Examples of Initial Capitalization in a sentence
Similarly, pursuant to Case 13-M-0412, Order Establishing New York Green Bank and Providing Initial Capitalization, NY Green Bank was established in December 2013, and began commercial operations in Summer 2014.
Also, Metrics Plan, Section 4.1, pages 6 – 7.4 Capitalized terms used in Table 1 and not otherwise defined in this Report have the meanings given to them in the Metrics Plan.5 The Initial Capitalization Order defines risk management metrics as those that assist in defining acceptable capital deployment opportunities.
The Initial Capitalization shall mean the first capitalization of the company in which the total capital contribution is at least two million dollars.
Also at page 25 of the Initial Capitalization Order, ordering clause 8.
Words or phrases shown with initial capitalization (i.e. Initial Capitalization) usually are defined in section 1.2 of said Procedure.
More Definitions of Initial Capitalization
Initial Capitalization means the issuance of 1,000 REIT Shares by the Company on May 19, 2009, constituting the initial capitalization of the Company.
Initial Capitalization is defined in the First Amendment.
Initial Capitalization has the meaning given to such term in the recitals of this Trust Agreement.
Initial Capitalization. An initial capitalization for Company on a consolidated basis of $49,900,000 million is to be required of which up to $15,000,000 million can be in the form of Permitted Subordinated Indebtedness and the balance in form of Common Stock and/or preferred stock all on terms and conditions satisfactory to Comerica Bank. -------------------------------------------------------------------------------- Comerica Bank, as Agent (iv) [LOGO] Key Management/ Management Compensation: Company agrees to pay compensation to Xxxx Xxxx, Xxxx Xxxxxx, Xxxxx XxXxx and Xxxx Xxxxxx ("Key Management"), shareholders and affiliates pursuant to Management Agreements which have terms and conditions acceptable to Comerica. In addition, Key Management's initial Equity Contribution must be at least $3.9 million and account for at least 5% of the voting stock with options for at least an additional 5% during the next 5 years. Representations and Warranties: Customary for credit agreements of this nature, with respect to BRH, LLC and the Company and its subsidiaries including but not limited to
Initial Capitalization means the conversion of amounts outstanding under the Loans, including those deemed outstanding under the Loan Agreement, into Class A Units or Class B Units, as applicable.
Initial Capitalization means the first time after the Effective Date when the Licensee has achieved the raising of at least Two Hundred Thousand ($200,000) Dollars in capital from any and all funding sources.
Initial Capitalization. Initially, RCF shall form New Moly and contribute its interest in Avanti Kitsault in return for all initial Membership Interests of New Moly which is anticipated to be 11,859,121, at a deemed unit price of $1.00 per unit. New Moly and Avanti Kitsault shall be debt free with no initial working capital. Upon the completion of the Transaction with Reorganized Moly immediately after confirmation of the General Moly Plan of Reorganization, New Moly shall exchange additional Membership Interests (7,906,081 in aggregate) to the holders of the Common Equity in Reorganized Moly, respectively. Initial ownership of New Moly, and prior to accounting for any funding of New Moly after completion of the Transaction, following the contribution of both Avanti Kitsault and Reorganized Moly to New Moly is expected to be: RCF: 65.1%; Xxxxxx: 23.7%; and, Xxxxxx: 8.3%. Such amounts are subject to adjustment depending on interest and reimbursable fees and expenses incurred by RCF in connection with the DIP Credit Agreement and the related transactions as well as whether certain minor Bondholders elect to convert into equity in New Moly. New Moly Operating Budget: New Moly will be operated pursuant to an annual budget approved by the board of directors. The New Moly operating budget is anticipated to require funding of $2 million per year for the initial two years following consummation of the Transaction. The budget is anticipated to be sufficient to fund care and maintenance costs of both the Kitsault Project and the Mt. Hope Project, legal defense to the Mt. Hope Project Record of Decision and appeal, and for general working capital purposes for a period of not less than two years. New Moly Funding Arrangement: The board of directors may approve future funding of New Moly for ongoing activities and general company purposes. Funding will be provided as Common Equity. Membership Interest holders shall have the right, but not the obligation, to fund their pro rata fully diluted ownership percentage of any capital calls. RCF shall fund its pro rata amount and any amounts not subscribed for other holders of membership interests for a period of two years with minimum funding commitment of $3,400,000. Xxxxx Xxxxxx shall commit to fund $900,000 over the initial two-year period.