Equity Lock-in Conditions Sample Clauses

Equity Lock-in Conditions a) The shareholding as on the Effective Date is as follows:
Sample 1Sample 2Sample 3See All (9)
AutoNDA by SimpleDocs
Equity Lock-in Conditions a) The shareholding as on the Effective Date is as follows: Names of Shareholders Description of Shareholding b) The Solar Power Developer having been set up for the sole purpose to exercise the rights and observing and performing its obligations and liabilities under this Agreement, the Solar Power Developer hereby undertakes and agrees to comply with the following lock-in conditions: In case the Selected Bidder is a Consortium then, (i) Members of the Consortium shall collectively hold at least 51% of subscribed and paid up equity share capital of the Solar Power Developer at all times until first anniversary of the commercial operations date of the Project. (ii) Lead Member shall have 26% shareholding of the SPV until first anniversary of the commercial operations date of the Project. In case the Selected Bidder is a single entity, The Selected Bidder shall hold at least 51% (fifty one percent) of subscribed and paid up equity share capital of the Solar Power Developer, until first anniversary of the commercial operations date of the Project. This condition is applicable only in case the single business entity incorporates an SPV to execute the PPA and implement the Project
Sample 1Sample 2Sample 3See All (9)
Equity Lock-in Conditions a) The shareholding as on the Effective Date is as follows: b) The Solar Power Developer having been set up for the sole purpose to exercise the rights and observing and performing its obligations and liabilities under this Agreement, the Solar Power Developer hereby undertakes and agrees to comply with the following lock-in conditions: (i) Members of the Consortium shall collectively hold at least 51% of subscribed and paid up equity share capital of the Solar Power Developer at all times until first anniversary of the commercial operations date of the Project. (ii) Lead Member shall have 26% shareholding of the SPV until first anniversary of the commercial operations date of the Project. The Selected Bidder shall hold at least 51% (fifty one percent) of subscribed and paid up equity share capital of the Solar Power Developer, until first anniversary of the commercial operations date of the Project. This condition is applicable only in case the single business entity incorporates an SPV to execute the PPA and implement the Project
Sample 1Sample 2Sample 3See All (7)
Equity Lock-in Conditions a) The shareholding as on the Effective Date is as follows: b) The Solar Power Developer having been set up for the sole purpose to exercise the rights and observing and performing its obligations and liabilities under this Agreement, the Solar Power Developer hereby undertakes and agrees to comply with the following lock-in conditions: In case the Selected Bidder is a Consortium then, (i) Members of the Consortium shall collectively hold at least 51% of subscribed and paid up equity share capital of the Solar Power Developer at all times until first anniversary of the commercial operations date of the Project. (ii) Lead Member shall have 26% shareholding of the SPV until first anniversary of the commercial operations date of the Project. The Selected Bidder shall hold at least 51% (fifty one percent) of subscribed and paid up equity share capital of the Solar Power Developer, until first anniversary of the commercial operations date of the Project. This condition is applicable only in case the single business entity incorporates an SPV to execute the PPA and implement the Project. c) In the event of non-compliance of the above, the same shall constitute an event of default by Solar Power Developer and ESCOM shall be entitled to terminate this Agreement in accordance with Article 16.
Sample 1Sample 2Sample 3See All (5)
Equity Lock-in Conditions a) The shareholding as on the Effective Date is as follows: Names of Shareholders Description of Shareholding b) The Developer, for the sole purpose to exercise its rights and performing its obligations and liabilities under this Agreement, hereby undertakes and agrees to comply with the following lock-in conditions: (i) Members of the Consortium shall collectively hold at least 51% of subscribed and paid-up equity share capital of the Developer at all times until first anniversary of the commercial operations date of the Project. (ii) Lead Member shall have at least 26% shareholding of the SPV until first anniversary of the commercial operations date of the Project.} or c) In the event of non-compliance of the above, the same shall constitute an event of default by Developer, and the Procurers shall be entitled to terminate this Agreement in accordance with Article 16.
Sample 1Sample 2
Equity Lock-in Conditions. 4.8.1. The shareholding of Seller as on the date of this Agreement (“Existing Shareholding”) is as follows: Name of Shareholders Member Number of Shares Value of Shares in MUR Description of Shareholding Lead Shareholder/ Sole Shareholder ……..% (Please insert percent as per the proposed shareholding of Seller. It shall not be less than 51%) of the subscribed and paid up equity share capital Other Shareholder ……% (Please insert percent as per the proposed shareholding of Seller.) of the subscribed and paid up equity share capital - 4.8.2. Seller shall not undertake or permit any change in the shareholding by any of the Shareholders specified in Clause 4.8.1 without prior written approval of CEB, save and except as provided in Clause 17.4. For the avoidance of doubt, in the event that CEB permits any change in the shareholding specified in Clause 4.8.1, this Clause 4.8.2 shall apply, mutatis mutandis, to such revised shareholding of Seller and any revision in such shareholding of Seller shall be undertaken only with the prior written approval of CEB. 4.8.3. Seller having been set up for the sole purpose of exercising the rights and observing and performing its obligations under this Agreement, Seller hereby undertakes and agrees that it shall not undertake or permit any Change of Control except in accordance with the provisions of Clause 17.4 and that the Lead Shareholder shall hold not less than 51% (fifty one percent) of its subscribed and paid up equity share capital until the expiry of the Term of this Agreement. 4.8.4. In the event of non-compliance with the provisions of Clauses 4.8.2 and 4.8.3 above, the same shall constitute a Seller Default and CEB shall be entitled to terminate this Agreement in accordance with Clause 16.1.2, to encash the entire Development Security and to appropriate the proceeds thereof. (a) it is duly organised and validly existing under the laws of Republic of Mauritius, and has requisite capability, power and authority to execute and perform its obligations under this Agreement and to carry out the transactions contemplated hereby; (b) it has taken all necessary corporate and other actions under Applicable Laws to authorise the execution and delivery of this Agreement and to validly exercise its rights and perform its obligations under this Agreement; (c) it has the financial standing and technical capability to undertake the Project in accordance with the terms of this Agreement; (d) this Agreement constitutes its legal, val...
Sample 1
Equity Lock-in Conditions. A. The shareholding as on the Effective Date is as follows: B. The Developer having been set up for the sole purpose to exercise the rights and observing and performing its obligations and liabilities under this Agreement, the Developer hereby undertakes and agrees to comply with the following lock-in conditions: In case the Selected Bidder is a Consortium then, i. Members of the Consortium shall collectively hold at least 51% of subscribed and paid up equity share capital of the Developer at all times until third anniversary of the commercial operations date of the Project. ii. Lead Member shall have 26% shareholding of the SPV throughout the Agreement Period. OR In case the Selected Bidder is a Single Entity then, The Selected Bidder shall hold at least 51% (fifty one percent) of subscribed and paid up equity share capital of the Developer, until third anniversary of the commercial operations date of the Project and 26% shareholding of the SPV for the remaining duration of the Agreement Period. This condition is applicable only in case the single business entity incorporates an SPV to execute the Project Development and Implementation Agreement and implement the Project. C. In the event of non-compliance of the above, the same shall constitute an event of default by Developer and the Authority shall be entitled to terminate this Agreement in accordance with Article 16.
Sample 1
AutoNDA by SimpleDocs
Equity Lock-in Conditions a) The shareholding as on the Effective Date is as follows: b) The SPG having been set up for the sole purpose to exercise the rights and observing and performing its obligations and liabilities under this Agreement, the SPG hereby undertakes and agrees to comply with the following lock-in conditions: (i) Members of the Consortium shall collectively hold at least 51% of subscribed and paid up equity share capital of the SPG at all times until first anniversary of the commercial operations date of the Project. (ii) Lead Member shall have 26% shareholding of the SPV until first anniversary of the commercial operations date of the Project. The Selected Bidder shall hold at least 51% (fifty one percent) of subscribed and paid up equity share capital of the SPG, until first anniversary of the commercial operations date of the Project. This condition is applicable only in case the single business entity incorporates an SPV to execute the PPA and implement the Project. c) In the event of non-compliance of the above, the same shall constitute an event of default by SPG and ESCOM shall be entitled to terminate this Agreement in accordance with Article 16.
Sample 1

Related to Equity Lock-in Conditions

  • Qualifying Conditions In addition to any other compensation earned, any employee who is on the payroll of the Company on any of the foregoing recognized statutory holidays will be granted eight (8) hours' pay at the straight time rate of the employee's regular job, subject to compliance with all of the conditions (a) to (f) set forth below: (a) The employee must have been on the payroll for not less than the sixty (60) days just preceding the holiday and must have previously qualified for a statutory holiday as provided in (d) below, and (b) The employee must have worked at least one (1) day during the sixty (60)- day qualifying period just preceding the holiday, and (c) The employee must have worked their scheduled work day before, and their scheduled work day after, such holiday, unless failure to work their scheduled work day before or after the holiday was due to any of the following events: (i) When the employee is on their regular authorized paid vacation; (ii) When the employee is unable to work by reason of an industrial accident as recognized by the Workers' Compensation Board or non-occupational sickness or injury; (iii) When the operation in which the employee is engaged is curtailed or discontinued by the decision of the Company and which curtailment or discontinuance changes or eliminates the employee's scheduled work day before, or their scheduled work day after, such holiday; (iv) When a trade in shifts agreed upon between employees and approved in advance by the company results in a temporary change of the scheduled work day before, or the scheduled work day after, the holiday, provided the employee works the shift agreed upon; (v) When the employee is on a leave of absence authorized by the Company. (d) The employee who has been on the payroll for at least sixty (60) days but who has not previously qualified for a statutory holiday will qualify for the holiday if he has worked a minimum of one hundred eighty (180) hours during the sixty (60)- day qualifying period just preceding the holiday and meets the requirements of (b) and (c) above. (e) Time lost as the result of an accident as recognized by the Workers' Compensation Board, suffered during the course of employment, or time lost as a result of non-occupational sickness or injury shall be considered as time worked for the purpose of qualifying for a recognized paid holiday, it being understood that the employee will only be entitled to this credit for time while on Workers' Compensation or non-occupational sickness or injury for a period of up to but not exceeding one (1) year from the date of their sickness or injury. (f) It is understood and agreed, however, that an employee shall not receive the above provided holiday pay if they have agreed to work on such holiday and fails or refuses to work, except in the case where bona fide sickness, or other bona fide reason approved by the Company, prevents them working on such holiday.

  • Existing Conditions Tenant accepts the Property in its condition as of the execution of the Lease, subject to all recorded matters, laws, ordinances, and governmental regulations and orders. Except as provided herein, Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation as to the condition of the Property or the suitability of the Property for Tenant's intended use. Tenant represents and warrants that Tenant has made its own inspection of and inquiry regarding the condition of the Property and is not relying on any representations of Landlord or any Broker with respect thereto. If Landlord or Landlord's Broker has provided a Property Information Sheet or other Disclosure Statement regarding the Property, a copy is attached as an exhibit to the Lease.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!