Minimum Black Equity definition
Minimum Black Equity has the meaning set forth in Schedule 5 (Target Group Terms);
Minimum Black Equity has the meaning set forth in clause 54 (Black Equity in the Private Party; and
Examples of Minimum Black Equity in a sentence
The Private Party shall procure that for the duration of the Project Term:- there is no dilution in the aggregate Equity holdings of the Black Shareholders below the Minimum Black Equity; and there is no Change in Control (at any time) in any Shareholder that is a Black Enterprise, which will result in that Shareholder no longer being a Black Enterprise.
At all times thereafter, at least 25% of the Ordinary Voting Rights in the Company shall be directly and beneficially owned by Black People and/or Black Enterprises (Minimum Black Equity).