Equity Payment. On the Initial Borrowing Date, the Facility Agent shall have received evidence, in form and substance reasonably satisfactory to the Facility Agent, that the Borrower shall have funded from cash on hand an amount equal to 0.4% of the Initial Construction Price for the Vessel.
Equity Payment. On each Borrowing Date on which the proceeds of Loans are being used to fund a payment under the Construction Contract, the Facility Agent shall have received evidence, in form and substance reasonably satisfactory to the Facility Agent, of the payment by the Borrower (other than from proceeds of Loans) of at least [*]% of each such amount then due on such Borrowing Date under the Construction Contract, it being agreed and acknowledged that where the Borrower makes an equity payment in excess of any of the minimum equity payments of [*]% referred to above, the subsequent minimum equity payment for future Borrowing Dates required may be reduced to take account of such over payment on a basis notified by the Borrower to the Facility Agent as long as at all times the Borrower continues to comply with the minimum equity requirements set out above.
Equity Payment. On each Borrowing Date on which the proceeds of Loans are being used to fund a payment under the Construction Contract, the Facility Agent shall have received evidence, in form and substance reasonably satisfactory to the Facility Agent, of the payment by the Borrower (other than from proceeds of Loans) of at least 20% of each such amount then due on such Borrowing Date under the Construction Contract, it being agreed and acknowledged that where the Borrower makes an equity payment in excess of any of the minimum equity payments of 20% referred to above, the subsequent minimum equity payment for future Borrowing Dates required may be reduced to take account of such over payment on a basis notified by the Borrower to the Facility Agent as long as at all times the Borrower continues to comply with the minimum equity requirements set out above.
Equity Payment. On each Borrowing Date on which the proceeds of Loans are being used to fund a payment under the Construction Contract, the Facility Agent shall have received evidence, in form and substance reasonably satisfactory to the Facility Agent, of the payment by the Borrower (other than from proceeds of Loans) of [*]% of the amount due on such Borrowing Date under the Construction Contract, which payment may be made from proceeds of Term Loans (other than on the Initial Borrowing Date).
Equity Payment. (a) On the Tranche A Initial Borrowing Date, the Facility Agent shall have received evidence, in form and substance reasonably satisfactory to the Facility Agent, that Breakaway One shall have funded from cash on hand an amount equal to 1% of the Initial Construction Price for Vessel 1 (other than from the proceeds of Loans, and loans under the ECF Facilities and the Other Term Loan Facility); and
Equity Payment. The full consideration for the Intellectual Property shall equal one million (1,000,000) shares of the Buyer’s common stock, $0.001 par value per share (the “Shares”), which Shares shall be subject to the Buyer’s repurchase rights set forth in Section 3.2 below.
Equity Payment. In further consideration for the rights and obligations assigned to Neurocrine under Article 2 hereof and the licenses granted to Neurocrine under Article 3 hereof, Neurocrine, at the Closing and in accordance with the terms and conditions of the Stock Purchase Agreement, shall irrevocably transfer and deliver to Wyeth or, at Wyeth's election, one of Wyeth's Affiliates, (i) that number of shares of Neurocrine common stock that, based on the Share Price, has a value of Forty-Five Million Dollars ($45,000,000.00), as such amount may be adjusted in accordance with the terms and conditions of the Stock Purchase Agreement and (ii) if applicable, that amount of cash which may be due in accordance with the terms and conditions of the Stock Purchase Agreement as a result of any adjustment made to the number of shares of Neurocrine common stock to be transferred and delivered to Wyeth pursuant to the Stock Purchase Agreement.
Equity Payment. In further consideration of the rights granted by Hanmi hereunder, Kinex shall pay Hanmi an equity payment upon occurrence of a Liquidity Event at Kinex and Regulatory Approval in the United States (as provided below) if such Liquidity Event occurs during the Agreement Term (“Equity Payment”). Notwithstanding the above sentence, (i) Hanmi can still receive an Equity Payment without Regulatory Approval as set forth in paragraph (c), (ii) any Equity Payment to *** = Portions of this exhibit have been omitted pursuant to a request for confidential treatment. An unredacted version of this exhibit has been filed separately with the Commission. be paid by Kinex upon a Liquidity Event or Regulatory Approval is intended by the parties to be a one-time payment and not apply to any subsequent Liquidity Event or Regulatory Approval, and (iii) for all purposes in this Section 4.2, “Regulatory Approval” shall refer only to the first Licensed Product and only to the first Regulatory Approval in either the United States from the US Federal Drug Administration or the European Union from the European Medicines Agency. The Equity Payment shall be made immediately prior to or on the date of the first Liquidity Event by the issuance by Kinex of its Series A Convertible Preferred Units or, if no shares of Series A Convertible Preferred Units are then currently outstanding, any cash, publicly tradable securities or class of securities to which the Series A Convertible Preferred Units have been exchanged or converted (“Kinex Unit(s)”). As long as Kinex treats Hanmi on the same terms as the holders of Kinex Common Units and all other holders of Series A Convertible Preferred Units regarding the registration rights of their units, and the Kinex Common Unit and Series A Convertible Preferred Units are not registered as of the Liquidity Event, Kinex can issue unregistered Kinex Units to Hanmi with the understanding that Kinex will treat Hanmi on the same terms as all Common Unit holders and all other Series A Convertible Preferred Unitholders regarding registration rights. The valuation of Kinex Units to be received by Hanmi shall be determined according to the “regulatory bonus” and “exit bonus” schedules set forth in paragraphs (a), (b), and (c) below. The actual number of Kinex Units to be issued or paid to Hanmi upon a Liquidity Event shall be calculated by dividing the “valuation” of the Kinex Units to be received by Hanmi as set forth in paragraphs (a), (b) or (c) by the last ...
Equity Payment. Upon closing of the Financing, Licensee shall issue to AstraZeneca $3.0 million worth of its Series B Convertible Preferred Stock (the “License Shares”) valued at the price per share paid by the investors in the Financing, subject to AstraZeneca’s execution of the applicable documents entered into in the Financing between Licensee and the participants in the Financing (the “Financing Documents”). The Financing Documents are expected to include the following terms, and should any such term not be included in the Financing Documents, then Licensee will at AstraZeneca’s request within thirty (30) days following the closing of the Financing, either amend the Financing Documents to include such term or enter into an additional agreement with AstraZeneca that provides AstraZeneca with substantially the same rights: (i) the pro rata right, based on AstraZeneca’s equity ownership percentage in the Licensee (assuming conversion of all outstanding convertible preferred stock into common stock of the Licensee and the exercise of all options outstanding under Licensee’s equity incentive plans), to participate in subsequent issuances of equity securities by the Licensee (subject to customary exclusions) to maintain AstraZeneca’s equity ownership percentage, (ii) the right to invite one representative of AstraZeneca to attend meetings of the Licensee’s board of directors in a nonvoting observer capacity (subject to customary confidentiality agreements and procedures), (iii) the right to receive audited annual financial statements within 120 days following the Licensee’s fiscal year-end, (iv) the right to receive unaudited quarterly financial statements within forty-five (45) days following the Licensee’s fiscal quarter-end, (v) the right to receive copies of the Licensee’s annual business plans and budgets to the extent prepared by or on behalf of the Licensee, (vi) the right to receive written notification of any material defaults of Licensee’s obligations under its material contracts or other obligations or the commencement or settlement of any litigation by or against the Licensee, (vii) such other information concerning the Licensee and its business as AstraZeneca may reasonably require from time to time (provided, however, that the Licensee shall not be obligated to provide information pursuant to this clause (vii) that the Licensee reasonably determines in good faith to be a trade secret or the disclosure of which would adversely affect the attorney-client privile...
Equity Payment. FINAL The parties acknowledge and agree that Track Workers in the Trackworkers Specialist title should have been eligible, but were not previously eligible for Equity payments. Effective upon full and final ratification of this Agreement, all such employees in the Trackworker Specialist title will be eligible for Equity Fund payments in accordance with current language.
