Equity Funding. The Owner Participant will advance (a) its Equity Investment and (b) amounts necessary to pay all Transaction Expenses.
Equity Funding. The Equity Contribution Agreement shall continue to be in full force and effect and, to the Borrower’s knowledge, no material breaches or defaults have occurred and are continuing thereunder.
Equity Funding. The Company shall have received evidence of (i) the funding of all of the Investment Commitments (as defined in the Equity Commitment Letter) into the Escrow Account (as defined in the Equity Commitment Letter) in accordance with the Equity Commitment Letter, (ii) the funding of all Backstop Commitments (as defined in the Backstop Agreement) into the Escrow Account (as defined in the Backstop Agreement) in accordance with the Backstop Agreement, (iii) the funding of all amounts subscribed for and payable by the Rights Holders (as defined in the Backstop Agreement) in the Rights Offering, if any, into the Escrow Account (as defined in the Backstop Agreement) in accordance with the Backstop Agreement, (iv) each of the Purchasers having delivered joint written instructions to the Escrow Agent (as defined in the Equity Commitment Letter) stating that (A) the Escrow Agent shall draw the full amount of each Qualifying Letter of Credit (as defined in the Equity Commitment Letter) at the First Closing and (B) the funds held in such Escrow Account (including all such amounts drawn under the Qualifying Letters of Credit), other than funds in an amount equal to the OV2 Investment Commitment (as defined in the Equity Commitment Letter), shall be released to Parent at the First Closing in accordance with this Agreement and (v) Parent having delivered written instructions to the Subscription Agent (as defined in the Backstop Agreement) stating that (A) the Subscription Agent shall draw the full amount of each Qualifying Letter of Credit (as defined in the Backstop Agreement) at the First Closing and (B) the funds held in such Escrow Account (including all such amounts drawn under the Qualifying Letters of Credit) shall be released to Parent at the First Closing in accordance with this Agreement.
Equity Funding. Acquiror will use its best efforts to raise a minimum of $800,000 (or such lesser amount as provided in this section) or maximum of $2,300,000 ("Equity Funding") of net proceeds from the proposed issuance of convertible preferred stock and Common Stock. No more than 1,000,000 shares of Common Stock shall be issued or reserved for issuance in connection with the offering and the per share price of Common Stock shall be no less than $3.00 a share. Any preferred stock sold shall bear a per annum dividend rate of no greater than 10 3/4%. In the event that one or more of the debt holders listed on Schedule 9.12 elects to convert his or her debt into Preferred Stock at the closing, then the $800,000 minimum shall be reduced by the amount of debt converted pursuant
Equity Funding. The Purchasers (as defined in the Purchase Agreement) shall have purchased from the Company for cash Preferred Stock pursuant to the Purchase Agreement in an amount equal to at least $29,002,531.
Equity Funding. Prior to the Bond Closing, Investor Member shall disclose to the Bondholder Representative the upper tier funding source of the Capital Contributions, which source the Bondholder Representative shall approve as a condition to its obligations hereunder. If at Bond Closing, there is no upper tier funding source and, instead, the first Capital Contribution will be funded under a warehouse line of credit, in that event, prior to Bond Closing, the Investor Member shall disclose in writing to the Bondholder Representative the identity of the warehouse lender or other funding source of the Capital Contributions, which source Bondholder Representative shall approve as a condition to its obligations hereunder. After the Bond Closing, the Investor Member shall syndicate its interest in Borrower, and, in connection therewith, in order to replace such warehouse loan or other funding source, transfer its ownership interest in the Borrower to a Fund. Thereafter, the Investor Member’s interest shall be held in a Fund at all times (if a Fund is in place at Bond Closing, then the Investor’s Member’s interest shall be held in that Fund at all times).
Equity Funding. As soon as practicable after the date hereof, Nevada Seller shall issue a 0.001% interest in Nevada Seller (the “WCDN Equity Interest”) to Nevada Purchaser in consideration for Nevada Purchaser’s provision of equity funding as set forth on Exhibit C. In the event this Agreement is terminated in accordance with Article IX, Nevada Seller shall have the right to redeem the WCDN Equity Interest for $1.00.
Equity Funding. Prior to the Bond Closing, Investor Member shall disclose to the Bondholder Representative the upper tier funding source of the Capital Contributions, which source the Bondholder Representative shall approve as a condition to its obligations hereunder. The Investor Member’s interest shall be held in a Fund at all times.
Equity Funding. The Borrowers shall have received gross Cash proceeds (through a capital contribution from the direct or indirect equityholders of the Lead Borrower and/or through the Nov 2020 Equity Raise), in an amount of not less than $25,000,000. For the avoidance of doubt, the proceeds of all transactions contemplated by this Section 4.01(y) shall be deposited in the Proceeds Account (except (i) any portion thereof consisting of Retained Funds, and (ii) as otherwise provided in Section 5.13(b)).
Equity Funding. Xxxxxxx Xxxxx shall have converted not less than $2,000,000 in principal amount of outstanding Indebtedness owed to him by the Borrower into shares of Common Stock at a price of $.78 (the volume weighted average closing price for the 10 days immediately preceding the date of this Agreement) per share, and the Borrower shall have provided reasonably satisfactory evidence thereof to the Lender.
