Wight Construction definition
Examples of Wight Construction in a sentence
The New Acquisition Units being issued upon contribution of Wight Construction to the Acquirer as provided by this Agreement, will be duly authorized, validly issued, fully paid (to the extent required by the Acquirer's Organizational Documents) and nonassessable (except as such nonassessability may be affected by the Delaware Revised Uniform Limited Partnership Act) and free of any preemptive or similar rights (other than those set forth in the Acquirer's limited partnership agreement).
At the Closing, the Contributor shall issue an instruction letter to its stock transfer agent, to reserve (a) 10,000,000 shares of its restricted common stock for issuance to the Acquirer upon (i) the General Partner procuring One Billion ($1,000,000,000.00 USD) in construction financing for the Project to be provided over a 3 year period, or (ii) Wight Construction completing its required Construction for the Project and (b) 50,000,000 Conversion Reserve Shares for conversion of the Contributed Note.
Within a commercially reasonable time after the Closing, Acquirer and/or Wight Construction will provide Contributor with proof of credit facilities of at least Five Hundred Million Dollars ($500,000,000.00).
Acquirer and/or Wight Construction will procure up to One Billion Dollars ($1,000,000,000.00) in construction financing, or series of construction financings, for the Business, at approximately Two Hundred Million Dollars ($200,000,000.00) per year of new financing, and may use the Contributed Stock and Contributed Note as collateral for the financing along with the Business assets on customary terms and conditions.
At the Closing, in consideration for the YERR Contribution, the General Partner shall issue to the Contributor, 100,000,000 Preferred B Membership Units in Wight Construction that will be exchanged for the New Acquisition Units when the General Partner contributes Wight Construction to the Acquirer, which will be after the Conversion.