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 Owner Participant will advance (a) its Equity Investment and (b) amounts necessary to pay all Transaction Expenses.
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. At least $1,825,800,000 shall have been contributed to the Borrower either (i) prior to the Closing Date (and verified in writing by the Independent Engineer) or (ii) on the Closing Date and deposited into the Construction Account (as verified by the Account Bank) concurrently with the consummation of the transactions contemplated by the Transaction Documents (any such Equity Funding contemplated by this clause (z)(ii), the “Closing Date Equity Funding”);
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. Bank shall have received all documents it may reasonably request evidencing the equity funding to be closed prior to, concurrently with, or soon after the Closing Date.
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.
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. Parent shall provide equity financing to Purchaser in an amount not less than $25,000,000 simultaneously with the Closing.