New Capital Sample Clauses
The "New Capital" clause defines the terms and conditions under which additional capital may be introduced into a business or investment arrangement. Typically, it outlines the process for existing or new investors to contribute further funds, specifies how such contributions affect ownership percentages, and may set requirements for approval or notification. This clause ensures that all parties understand how new funding rounds are handled, thereby preventing disputes and maintaining fairness in the allocation of equity or interests when new capital is injected.
New Capital. The Instructing Group and the Last Out Requisite Lenders shall be satisfied with (i) the terms and amount of the 7.5% convertible notes due 2019 to be issued pursuant to the terms of the New Capital Commitment Agreement and (ii) the form of the New Capital Commitment Agreement (including the provision of legal opinions in form and substance reasonably satisfactory to the Instructing Group and the Last Out Requisite Lenders relating to the New Capital Commitment Agreement and the capacity and authority of the Backstop Commitment Providers party thereto to enter into the New Capital Commitment Agreement and to perform their obligations thereunder).
New Capital. (a) In the event that the Company from time to time requires capital in addition to the aggregate Capital Commitments and the Board of Directors approves pursuant to Section 3.2(b)(x) the raising of additional capital ("New Capital") by the Company, and such issuance satisfies the other requirements of Luxembourg law, each Shareholder shall have the preferential right to subscribe to such New Capital in proportion to its Share Percentage as of the date of the notice described in Section 2.8(c).
(b) The Shareholders acknowledge and agree that upon the written request of any Shareholder, the Board of Directors shall promptly determine, in its sole discretion, whether or not to approve the issuance of New Capital and the terms of such New Capital.
(c) Promptly following a decision of the Board of Directors to issue New Capital, the Company shall provide to each Shareholder a written notice (a "New Capital Notice") specifying the total amount of the New Capital proposed to be issued and the amount and terms of such New Capital for which each Shareholder is entitled to subscribe.
(d) For a period of thirty (30) days following the date of the New Capital Notice, each Shareholder may elect by written notice to the Company (a "Subscription Notice") to subscribe for all or any portion of that amount of New Capital for which the Shareholder is entitled to subscribe as set forth in the New Capital Notice.
(e) At the end of such thirty (30) day period, (i) the Company shall give to each Shareholder written notice of which Shareholders have subscribed for New Capital and the amount of such New Capital for which each such Shareholder has subscribed and (ii) in the event that any Shareholder does not subscribe for the full amount of New Capital for which such Shareholder is entitled to subscribe, the Company shall give to each Shareholder that had subscribed for the full amount of New Capital for which it was entitled to subscribe (a "Fully Subscribed Shareholder") written notice (a "Further Capital Notice") specifying the amount of such unsubscribed New Capital. For a period of fifteen (15) days from the date of any Further Capital Notice, each Fully Subscribed Shareholder may elect, by giving a Further Subscription Notice to the Company, to subscribe for all or any portion of the additional unsubscribed New Capital, which shall be allocated in the following order of priority: first, ratably to the Fully Subscribed Shareholders in accordance with each Fully Subscribed S...
New Capital. If at any time during the LLC’s term there are insufficient LLC Reserves (after consideration of Deferred Capital Contributions) to pay the debt service, operating expenses, or other expenses or costs necessary to operate the Property, the Members shall have the authority to raise additional capital by selling additional Ownership Interests, first to Members and, if necessary, to non-Members. The Members must first offer any new Ownership Interest pro rata to the existing Members, excluding any Members in default under Section 2.5, upon such terms and conditions, and for such prices, as are proposed for sale to third parties. If the Members do not purchase all the new Ownership Interests within twenty (20) days of notice, then the remaining new Ownership Interests may be offered to non-Members on the same terms and conditions. Such new Members shall be admitted to the LLC upon purchase of the new interests and completion of all required documentation.
New Capital. Borrower shall have received unrestricted New Capital of, (i) [****] , (ii) [****] and (iii) [****] , each of the foregoing measured on a cumulative basis beginning on January 1, 2013.
New Capital. The First Capital Date shall not have occurred on or prior to the Contribution Compliance Date.
New Capital. Lender and Borrowers agree that Section 20 of the Loan Agreement is hereby amended in its entirety to read as follows:
New Capital. Deposit. Break-Up Fee..................................7
New Capital. On or before September 30, 2010, Borrower must furnish Lender with satisfactory evidence that Borrower has raised a minimum of $700,000 in new capital in a manner acceptable to Lender. If, on or before September 30, 2010, Borrower furnishes Lender with satisfactory evidence that Borrower has raised a minimum of $700,000 in new capital in a manner acceptable to Lender, thereafter the limitation on the value of Finished Goods contained in the Borrower Base Limitation definition shall be increased from $250,000 to $1,000,000.
New Capital. (a) In the event that the Company from time to time requires capital in addition to the aggregate Capital Commitments and the Board of Directors approves pursuant to Section 3.2(b) the raising of additional capital ("New Capital") by the Company, each Shareholder shall have the preferential right to subscribe to such New Capital in proportion to its Share Percentage as of the date of the notice described in Section 2.8(c). All New Capital shall be in the form of loans to the Company ("Shareholder Loans"), unless the Board of Directors approves the issuance of New Capital in a form other than debt. Shareholder Loans may be made directly by a Shareholder or by an Affiliate of a Shareholder. No Shareholder shall transfer, or allow any Affiliate of such Shareholder to transfer, any Shareholder Loan except (i) to an Affiliate of such Shareholder or (ii) concurrently with, in proportion to, and to the same party as, a Transfer of any Shares by such Shareholder in accordance with Section 7.1. Each Shareholder shall transfer, and shall cause any Affiliate of such Shareholder to transfer, any Shareholder Loan concurrently with, in proportion to, and to the same party as, a Transfer of any Shares by such Shareholder in accordance with Section 7.1. If an Affiliate of a Shareholder shall cease to be an Affiliate of such Shareholder, then, prior to such time, such Shareholder shall cause such Affiliate to transfer any Shareholder Loans held by it to such Shareholder.
New Capital. Within 270 calendar days after the date of this Agreement must furnish Lender with satisfactory evidence that Borrower has raised a minimum of $700,000.00 in new capital in a manner acceptable to Lender. If Borrower furnishes Lender with satisfactory evidence that ▇▇▇▇▇▇▇▇ has raised a minimum of $700,000 in new capital in a manner acceptable to Lender, thereafter the limitation on the value of Finished Goods contained in the Borrower Base Limitation definition shall be increased from $250,000 to $1,000,000.