Minimum Equity Requirement Sample Clauses

Minimum Equity Requirement. From and after the date a General Partner Fundamental Change is consummated, so long as any Series A Preferred Units are thereafter outstanding, at any time and from time to time, the General Partner, in its capacity as general partner and/or as a limited partner of the Partnership, and its Affiliates shall own an aggregate of at least 33% of the equity in the Partnership through the ownership of Junior Units (the “Equity Requirement”), with the equity in the Partnership being valued based on the excess of the Gross Asset Value over Indebtedness and taking into account the Series A Preference as equity. If any Series A Preferred Unit owned by a Qualifying Series A Party is redeemed pursuant to Section 16.5, the General Partner will have the right to reduce its ownership of the equity in the Partnership to a minimum of 33% of such equity based upon the criteria set forth in the preceding sentence after such redemption, by making distributions (in cash or in-kind) to redeem a portion of its Junior Units, so long as such distributions are in compliance with Section 5.1 and Section 16.3 and the first sentence of this Section 16.8.B.
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Minimum Equity Requirement. (a) Requirements for Equity to be provided by OSEG for the Total Project shall be effected in accordance with this Agreement and the Project Agreement. (b) OSEG shall provide a minimum Equity contribution for the Total Project in the amount of thirty million dollars ($30,000,000), subject to the provisions of Section 4.3 (the “Minimum Equity Requirement”). The Members shall jointly and severally guarantee the Minimum Equity Requirement of OSEG, in accordance with the form of guarantee annexed hereto as Schedule “D”. (c) The Minimum Equity Requirement shall be satisfied in the first instance at or prior to the Closing by the amounts described in subparagraphs (i), (ii), (iii), (iv) and (viii) of the definition of Equity and, to the extent applicable to the period prior to Closing, sub-paragraph (ix) of the definition of Equity, and then, as to any deficiency, by cash advances at or prior to Closing by each of the Members to OSEG (the amount of such deficiency being, “Initial Capital Contributed”). Each of the Members covenant with the City and the Limited Partnership, that: (i) the Initial Capital Contributed shall remain with OSEG and not used for any purpose other than (i) cash Contributions to the Limited Partnership, or (ii) the purposes of the Total Project in accordance with the provisions of this Agreement and/or any relevant Material Agreement. Any part of the Initial Capital Contributed that is not immediately required by OSEG, the Limited Partnership or a Component Limited Partnership for the purposes of the Total Project may be invested by OSEG in Permitted Interim Investments. The income received therefrom (the “Initial Investment Income”) shall be credited against the amount payable to OSEG pursuant to Section 5.4(a)(i)(A) (respecting the Waterfall); (ii) none of the Members shall engage in any business or incur any other obligations or liabilities or debts except in connection with the Total Project, the Soccer Team or as permitted in the definition of S.P.V. Assets and each of the Members is and shall remain a Special Purpose Vehicle; and (iii) Contributions from the Initial Capital Contributed (except to the extent previously Contributed to the Limited Partnership or previously used for the purposes of the Total Project in accordance with the provisions of this Agreement and/or any relevant Material Agreement) shall be provided by OSEG to the Limited Partnership in accordance with the provisions of this Agreement from time to time when requi...
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Minimum Equity Requirement. (a) To further assure Broker's performance of its obligations under this Agreement, including but not limited to its indemnification obligations under Paragraph 7, Broker shall, on or before the execution of this Agreement, establish an account(s) at SLK which shall at all times contain cash, securities, or a combination of both, having a market value of $1,000,000 or such other amount as SLK may require at a future date in accordance with the provisions set forth in this Paragraph 8 (the "Account"). The amounts maintained in the Account shall remain Broker's funds for purposes of providing regulatory capital to Broker and Broker shall be credited with all interest on and proceeds received from cash and securities maintained in the Account. The Account may be used by Broker to trade securities on a proprietary basis. This deposit does not represent an ownership interest. (b) If SLK shall suffer any loss or incur any expense for which it is entitled to be indemnified pursuant to this Agreement, and Broker shall fail to make such indemnification within ten (10) business days after the amount for which Broker is to indemnify SLK is requested by SLK, SLK shall deduct the amount of such claim, loss or expense from the commissions then credited to Broker pursuant to Paragraph 9. If the amount of said commissions is less than the amount of such claim, loss or expense, SLK shall have the right to withdraw from the Account cash or securities (or both) having a market value equal to the amount of such deficiency. Broker shall then be obligated to immediately deposit in the Account cash or securities sufficient to bring the Account back to a market level of at least $1,000,000. (c) All cash and/or securities in the Account shall be returned upon the later of 10 days after termination of this Agreement or the last account is transferred from SLK, less any amounts which SLK is entitled to withdraw under the preceding Paragraph; provided, however, that SLK may retain in the Account an amount to protect it from any claim or proceeding of any type, then pending or threatened in writing, until the final determination thereof is made. If within a reasonable time after the termination of this Agreement, a claim or proceeding is not resolved, the amount retained with respect to such claim or proceeding shall be paid or delivered to Broker. If within one year after the termination of this Agreement, a threatened claim or proceeding is not resolved, or a threatened legal action...
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Minimum Equity Requirement. If the Equity of a PAMM Investor Account falls below USD $5 (or the equivalent in another currency), the PAMM Investor Account may be removed from the PAMM Manager Account, and the remaining funds will no longer be available for trading.
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Minimum Equity Requirement. Developer shall have and maintain a Construction Equity Ratio of at least five percent (5%) throughout the period between the Financial Close Date and the Project Substantial Completion Date, except to the extent:
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Minimum Equity Requirement. HeritageBanc’s Adjusted Stockholders’ Equity, calculated not more than three (3) Business Days prior to the Closing Date, shall not be less than the Adjusted Stockholders’ Equity of HeritageBanc as of September 30, 2007, plus, (i) $806,000.00, and (ii) $200,000.00 per month commencing on October 1, 2007 until the Closing Date, such amount pro-rated for any partial month in which the Closing Date occurs.
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Minimum Equity Requirement. The Administrative Agent shall have received evidence that the Sponsor has funded (or caused to be funded) the Minimum Equity Requirement.
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Minimum Equity Requirement. The Waterloo Adjusted Stockholders’ Equity, calculated as of the close of business on the third (3rd) Business Day prior to the Closing Date, shall not be less than $7,873,000 (such amount representing the Waterloo Adjusted Stockholders’ Equity as of September 30, 2008 of $8,683,000 minus $810,000). Any negative difference in Waterloo Adjusted Stockholder Equity below $7,873,000 shall be referred to as the “Negative Equity Amount”; provided, however, that no negative change in the Waterloo Adjusted Stockholders’ Equity resulting from (i) payments made or to be made to Xx. Xxxxx Xxxxxxx pursuant to his employment agreement, or (ii) a sale or distribution of corporate bonds listed on Schedule 4.6(i), shall be deemed to be part of the Negative Equity Amount. In the event of a Negative Equity Amount, the Purchase Price shall be adjusted by the product of (1) the Negative Equity Amount multiplied by (2) 0.613 (the “Tax Factor”); provided, however, that any Losses treated on the books of Waterloo on an after tax adjusted basis shall not be multiplied by the Tax Factor.
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Related to Minimum Equity Requirement

  • Coverage Minimum Requirement Commercial General Liability Insurance, including Bodily Injury, Personal Injury, Property Damage, Advertising Injury, and Medical Payments Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Automobile Liability Insurance - Any Auto Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Professional Liability $ 1,000,000 Workers Compensation Statutory Limits Employer’s Liability $ 1,000,000

  • Capital and Liquidity Requirements If any Lender or any Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Swingline Loans and Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy and liquidity requirements), by an amount deemed to be material by such Lender or such Issuing Bank, then from time to time the Borrower will pay to such Lender or such Issuing Bank, as the case may be, in Dollars, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered.

  • Minimum Requirements Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subconsultants. Consultant shall also require all of its subconsultants to procure and maintain the same insurance for the duration of the Agreement. Such insurance shall meet at least the following minimum levels of coverage:

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Facility Requirements 1. Maintain wheelchair accessibility to program activities according to governing law, including the Americans With Disabilities Act (ADA), as applicable. 2. Provide service site(s) that will promote attainment of Contractor’s program objectives. Arrange the physical environment to support those activities. 3. Decrease program costs when possible by procuring items at no cost from County surplus stores and by accepting delivery of such items by County.

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."

  • Eligibility Requirements The Trustee hereunder shall at all times (i) be a corporation or association having its principal office in a state and city acceptable to the Seller, organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, or shall be a member of a bank holding system, the aggregate combined capital and surplus of which is at least $50,000,000, provided that its separate capital and surplus shall at all times be at least the amount specified in Section 310(a)(2) of the Trust Indenture Act of 1939, (ii) be subject to supervision or examination by federal or state authority and (iii) have a credit rating or be otherwise acceptable to the Rating Agencies such that neither of the Rating Agencies would reduce their respective then current ratings of the Certificates (or have provided such security from time to time as is sufficient to avoid such reduction) as evidenced in writing by each Rating Agency. If such corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation or association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.08.

  • Coverage Minimum Limits Commercial General Liability $1,000,000 per occurrence $2,000,000 aggregate Automobile Liability including coverage for owned, non-owned and hired vehicles $1,000,000 per occurrence

  • City Requirements Design, construction, materials, sizing, other specifications, permitting, inspections, testing, documentation and furnishing of as-built drawings, and acceptance of completed infrastructure shall be in accordance with City Requirements. Design and construction shall be by professionals licensed in the state of North Carolina to do the relevant work. City approval of the design of the Improvements shall be required prior to construction, as set forth in City Requirements. If Developer is connecting to the County sewer system, the City may require Developer to furnish the contract providing for such connection.

  • Minimum Limits The minimum limits to be maintained by the School (inclusive of any amounts provided by an umbrella or excess policy) shall be $1 million per occurrence/$3 million annual aggregate.

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