Curative Equity definition
Curative Equity means the net amount of common equity contributions made by existing shareholders to Parent Guarantor in immediately available funds which Parent Guarantor contributes as additional common equity (or other Qualified Equity Interests) contributions to any Borrower in immediately available funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of this Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.
Curative Equity means the net amount of common equity contributions made by Sponsor to Borrowers in immediately available funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of the Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.
Curative Equity the making of capital contributions to Holdings or the issuance of common Equity Interests by Holdings (other than Disqualified Equity Interests), in each case that are concurrently contributed to one or more Borrowers, for the purposes of, and in accordance with, Section 11.6.
Examples of Curative Equity in a sentence
Curative Equity shall be disregarded for purposes of determining EBITDA for any pricing, financial covenant based conditions or any baskets with respect to the covenants contained in this Credit Agreement.
Regardless of whether an investment of Curative Equity is made prior to the applicable Financial Statement Delivery Date, any amount of Curative Equity that is in excess of the amount sufficient to cause Loan Parties to be in compliance with all of the Specified Financial Covenants as at such date shall not constitute Curative Equity (but shall be required to be used to prepay the Obligations in accordance with Section 2.7(b)(ii).
More Definitions of Curative Equity
Curative Equity means the net amount of common equity contributions made in immediately available funds by Holdings to the Borrower (whether directly or via one or more contemporaneous transfers to Intermediate Holdings, the Parent and to the Borrower) and which is designated “Curative Equity” by the Borrower under Section 6.03 at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Obligations, trade payables, or otherwise) shall not constitute Curative Equity.
Curative Equity means the amount of proceeds received by Comtech from the issuance of Qualified Equity Interests in immediately available funds, which proceeds are designated "Curative Equity" by Borrowers under Section 9.3 of this Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.
Curative Equity means equity investments (other than in respect of Disqualified Capital Stock) made by Permitted Holders to Borrower (whether directly or through one or more intermediate Persons, including Parent) in immediately available funds and which is designated “Curative Equity” by Borrower under Section 8.02 of this Agreement at the time it is contributed.
Curative Equity means the making of capital contributions to the Company or the issuance of Equity Interests by the Company (other than Disqualified Equity Interests), for the purposes of, and in accordance with, Section 13.4.
Curative Equity means common equity (or other form of equity reasonably acceptable to Agent) contributions to Holdings in immediately available funds which Holdings contributes as additional common equity (or such other form of equity reasonably acceptable to Agent) contributions to Borrowers in immediately available funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of the Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.
Curative Equity means the net amount of proceeds received by the Borrowers from issuances of Equity Interests (or capital contributions in respect thereof) or Subordinated Debt (which Subordinated Debt shall not permit cash payments of interest or principal until Full Payment of the Obligations) in immediately available funds and which are designated “Curative Equity” by such Borrower under Section 10.3.3 at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Debt, trade payables, or otherwise) shall not constitute Curative Equity. CWA: the Clean Water Act (33 U.S.C. §§ 1251 et seq.).
Curative Equity means the making of capital contributions to Holdings or the issuance of common Equity Interests by Holdings (other than Disqualified Equity Interests), in each case that are concurrently contributed to one or more Borrowers, for the purposes of, and in accordance with, Section 13.4.