Common use of Supplemental Base Equity Amount and Form of Security Clause in Contracts

Supplemental Base Equity Amount and Form of Security. BrightSource Ivanpah shall secure the Supplemental Base Equity Commitment from the Initial Advance Date through the Supplemental Base Equity Commitment Security Release Date by providing Supplemental Base Equity Commitment Balance Security in an aggregate amount not less than $21,305,358 (the “Supplemental Base Equity Amount”). On the Initial Advance Date, the required Supplemental Base Equity Commitment Balance Security shall be provided as follows: (i) BrightSource Ivanpah shall provide Supplemental Base Equity Commitment Balance Security to the Collateral Agent in the form of any combination of Cash Collateral and Reserve Letters of Credit in an aggregate amount of not less than $9,229,732, and (ii) the Sponsor shall reserve (but shall not issue) as set forth in Section 7.1.3 shares of Reserved BSE Common Equity having an initial value of $12,075,626, calculated as set forth in Section 7.1.3.

Appears in 2 contracts

Samples: Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc)

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Supplemental Base Equity Amount and Form of Security. BrightSource Ivanpah shall secure the Supplemental Base Equity Commitment from the Initial Advance Date through the Supplemental Base Equity Commitment Security Release Date by providing Supplemental Base Equity Commitment Balance Security in an aggregate amount not less than $21,305,358 21,123,928 (the “Supplemental Base Equity Amount”). On the Initial Advance Date, the required Supplemental Base Equity Commitment Balance Security shall be provided as follows: (i) BrightSource Ivanpah shall provide Supplemental Base Equity Commitment Balance Security to the Collateral Agent in the form of any combination of Cash Collateral and Reserve Letters of Credit in an aggregate amount of not less than $9,229,7329,151,134, and (ii) the Sponsor shall reserve (but shall not issue) as set forth in Section 7.1.3 shares of Reserved BSE Common Equity having an initial value of $12,075,62611,972,794, calculated as set forth in Section 7.1.3.

Appears in 2 contracts

Samples: Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc)

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Supplemental Base Equity Amount and Form of Security. BrightSource Ivanpah shall secure the Supplemental Base Equity Commitment from the Initial Advance Date through the Supplemental Base Equity Commitment Security Release Date by providing Supplemental Base Equity Commitment Balance Security in an aggregate amount not less than $21,305,358 15,281,149 (the “Supplemental Base Equity Amount”). On the Initial Advance Date, the required Supplemental Base Equity Commitment Balance Security shall be provided as follows: (i) BrightSource Ivanpah shall provide Supplemental Base Equity Commitment Balance Security to the Collateral Agent in the form of any combination of Cash Collateral and Reserve Letters of Credit in an aggregate amount of not less than $9,229,7326,619,973, and (ii) the Sponsor shall reserve (but shall not issue) as set forth in Section 7.1.3 shares of Reserved BSE Common Equity having an initial value of $12,075,6268,661,176, calculated as set forth in Section 7.1.3.

Appears in 2 contracts

Samples: Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc)

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