Equity Event. For purposes of this Warrant, an "equity event" shall ------------ mean the receipt by the Company of aggregate cash proceeds of at least $1,000,000 from the sale of its capital stock or subordinated debt, other than in a nonfinancing transaction to employees, officers, directors or consultants of the Company.
Equity Event. Provide evidence to Agent, on or prior to March 31, 2009, that the Equity Event has occurred by such date.”
Equity Event. Borrower shall consummate the Equity Event by no later than September 30, 2009.”
4. All references in the Loan Documents (except the Warrant) to Bank’s address at 75 East Xxxxxxx Road, M/C 4770, Xxx Xxxx, Xxxxxxxxxx 00000, Attn: Manager shall mean and refer to 00000 Xxx Xxxx Xxxx, X/X 0000, Xxxxxxx, Xxxxxxxx 00000, Attn: National Documentation Services. The reference in the Warrant to Bank’s address(es) shall mean and refer to Comerica Ventures Incorporated, Attn: Warrant Administrator, 0000 Xxxx Xxxxxx, 0xx Xxxxx, XX 0000, Xxxxxx, Xxxxx 00000, Facsimile No. (000) 000-0000.
5. No course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank.
6. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof.
7. Borrower represents and warrants that the Representations and Warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing.
8. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:
(a) this Amendment, duly executed by Borrower;
(b) a Certificate of the Secretary of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this Amendment;
(c) all reasonable Bank Expenses incurred through the date of this Amendment, which may be debited from any of Borrower’s accounts; and
(d) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.
9. This Amendment may be executed in ...
Equity Event. (a) On or before December 31, 2012, Borrower shall deliver to Bank a fully executed term sheet from investors acceptable to Bank with respect to an equity or convertible subordinated note financing providing Borrower with cash proceeds of at least $8,000,000, on terms reasonably acceptable to Bank (“Investor Financing”).
(b) On or before January 31, 2013, Borrower shall receive at least $8,000,000 in cash proceeds from the closing of the Investor Financing, or Borrower shall have consummated its IPO.
9. Exhibit C and Exhibit D to the Loan and Security Agreement are replaced in its entirety with the Exhibit C and Exhibit D attached hereto.
Equity Event. The Equity Event must occur on or before February 29, 2000. For purposes of this credit facility, the "Equity Event" is defined as the earlier to occur of, (i) the successful completion of the initial public offering of the common shares of the capital stock of Borrower or (ii) the successful sale of Series D preferred stock of Borrower, in each case that shall yield gross proceeds of not less than $25,000,000.
Equity Event. Confirmation by Agent that the Equity Event has occurred.
Equity Event. Borrower shall provide evidence to Bank by no later than June 30, 2018 of Borrower’s receipt of not less than Seven Million Dollars ($7,000,000) of cash proceeds from the sale of Borrower’s equity securities on terms reasonably satisfactory to Bank.
Equity Event. The Equity Event does not occur on or prior to May 28, 2013.
Equity Event. Provide evidence to Agent, on or prior to April 7, 2009, that the Equity Event has occurred by such date.”
2. The Loan Agreement shall be amended by deleting the following definition, appearing in Section 13.1 thereof:
Equity Event. Equity Event means (1) a Qualified MLP Offering, or (2) any ------------ transaction or series of related transactions (including a merger, consolidation or "stock-for-stock" sale) wherein not less than 90% of the Common Percentage Interests held by all Voting Members of the Company are sold or otherwise disposed of in exchange for voting Equity Securities representing the common or residual interest in the purchaser thereof or an Affiliate of such purchaser.
