Closing Date Equity. Administrative Agent shall have received evidence satisfactory to it that Ultimate Parent and/or the Permitted Holders shall have contributed (or caused to be contributed), directly or indirectly, cash equity contributions to Lead Borrower and its subsidiaries (in the form of (i) common equity or (ii) pay-in-kind preferred equity reasonably satisfactory to Administrative Agent) in an aggregate amount of equal to $7,500,000 (the “Closing Date Equity”), the proceeds of which may be used to pay the aggregate purchase price for the Acquisition (notwithstanding anything to the contrary in this Agreement) or for other general corporate purposes; Each Lender, by delivering its signature page to this Agreement and funding a Loan on the Closing Date, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be approved by any Agent, Required Lenders, or Lenders, as applicable, on the Closing Date.
Appears in 6 contracts
Samples: Abl Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (Franchise Group, Inc.)
