Direct Investment Preferred Equity Raise definition

Direct Investment Preferred Equity Raise means $65.0 million of New Preferred Stock purchased by the Backstop Parties in a direct capital raise pursuant to the Plan and the Backstop and Direct Investment Agreement, on, and as a condition to, the Effective Date.
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Direct Investment Preferred Equity Raise means $26,000,000 of New Preferred Stock purchased by the Plan Sponsor in a direct capital raise pursuant to the Plan and the Direct Investment Documents, on, and as a condition to, the Effective Date.
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Examples of Direct Investment Preferred Equity Raise in a sentence

  • For the avoidance of doubt, any New Preferred Stock purchased by the Backstop Parties in the Direct Investment Preferred Equity Raise and the Equity Rights Offering pursuant to the Backstop Commitments shall be solely on account of the new money provided in the Direct Investment Preferred Equity Raise and the Backstop Commitments and not on account of any Holder’s First Lien Claims or Senior Notes Claims.

  • The Debtors shall fund distributions under the Plan, as applicable, with: (1) the New Common Stock and the New Preferred Stock; (2) the proceeds of the Equity Rights Offering; (3) the proceeds of the Direct Investment Preferred Equity Raise; and (4) the Debtors’ Cash on hand.

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  • In connection with the consummation of the Plan, the Equity Rights Offering and the Direct Investment Preferred Equity Raise shall be consummated in accordance with the terms of the Plan, the Restructuring Support Agreement, the Restructuring Term Sheet, and the Equity Rights Offering Documents.

  • Subject to satisfaction of all Direct Investment Commitment Conditions (unless waived by the Plan Sponsor in its sole discretion), the Debtors and Reorganized Debtors, as applicable, shall fund Plan Distributions, as applicable, with (1) the New Preferred Stock, (2) the New Common Stock, and (3) a portion of the proceeds of the Direct Investment Preferred Equity Raise in an amount equal to the Plan Distribution Amount.

  • The Direct Investment Preferred Equity Raise and the Direct Investment Commitments On the Effective Date, the Debtors shall consummate the Direct Investment Preferred Equity Raise, through which Reorganized Acosta shall issue $65.0 million of New Preferred Stock.

  • The Debtors shall raise an aggregate of $325.0 million of equity capital through the Equity Rights Offering and the Direct Investment Preferred Equity Raise.

  • Subject to, and in accordance with the Backstop and Direct Investment Agreement, as consideration for the Direct Investment Commitments, the Backstop Parties shall receive the Direct Investment Commitment Premium, which will be payable on, and as a condition to, the Effective Date, equal to $2.925 million, payable in Cash upon the consummation of the Direct Investment Preferred Equity Raise, and shall have been fully earned as of the Agreement Effective Date.

  • Together with the New Preferred Stock issued to any Holder of an Allowed New Money DIP Claim, the New Preferred Stock issued in connection with the Direct Investment Preferred Equity Raise shall constitute 100% of the New Preferred Stock.

  • In connection with the consummation of the Plan, the Equity Rights Offering and the Direct Investment Preferred Equity Raise shall be consummated in accordance with the terms of the Plan, the Restructuring Support Agreement, and the Equity Rights Offering Documents.

Related to Direct Investment Preferred Equity Raise

  • Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that:

  • Preferred Equity Interest in any Person, means an Equity Interest of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over Equity Interests of any other class in such Person.

  • Qualified Equity Interests means any Equity Interests that are not Disqualified Equity Interests.

  • Equity-linked Securities means any debt or equity securities that are convertible, exercisable or exchangeable for Class A Shares issued in a financing transaction in connection with a Business Combination, including but not limited to a private placement of equity or debt.

  • Excluded Equity Interests means (a) any Equity Interests with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, the cost or other consequences of pledging such Equity Interests in favor of the Secured Parties under the Security Documents shall be excessive in view of the benefits to be obtained by the Secured Parties therefrom, (b) solely in the case of any pledge of Equity Interests of any Foreign Subsidiary or FSHCO (in each case, that is owned directly by the Borrower or a Guarantor) to secure the Obligations, any Equity Interest that is Voting Stock of such Foreign Subsidiary or FSHCO in excess of 65% of the Voting Stock of such Subsidiary, (c) any Equity Interests to the extent the pledge thereof would be prohibited by any Requirement of Law, (d) in the case of (i) any Equity Interests of any Subsidiary to the extent the pledge of such Equity Interests is prohibited by Contractual Requirements existing on the Closing Date or at the time such Subsidiary is acquired (provided that such Contractual Requirements have not been entered into in contemplation of such Subsidiary being acquired), or (ii) any Equity Interests of any Subsidiary that is not a Wholly owned Subsidiary at the time such Subsidiary becomes a Subsidiary, any Equity Interests of each such Subsidiary described in clause (i) or (ii) to the extent (A) that a pledge thereof to secure the Obligations is prohibited by any applicable Contractual Requirement (other than customary non-assignment provisions which are ineffective under the Uniform Commercial Code or other applicable Requirements of Law), (B) any Contractual Requirement prohibits such a pledge without the consent of any other party; provided that this clause (B) shall not apply if (1) such other party is a Credit Party or a Wholly owned Subsidiary or (2) consent has been obtained to consummate such pledge (it being understood that the foregoing shall not be deemed to obligate the Borrower or any Subsidiary to obtain any such consent)) and only for so long as such Contractual Requirement or replacement or renewal thereof is in effect, or (C) a pledge thereof to secure the Obligations would give any other party (other than a Credit Party or a Wholly owned Subsidiary) to any Contractual Requirement governing such Equity Interests the right to terminate its obligations thereunder (other than customary non-assignment provisions that are ineffective under the Uniform Commercial Code or other applicable Requirement of Law), (e) the Equity Interests of any Immaterial Subsidiary (unless a security interest in the Equity Interests of such Subsidiary may be perfected by filing an “all assets” UCC financing statement) and any Unrestricted Subsidiary, (f) the Equity Interests of any Subsidiary of a Foreign Subsidiary or FSHCO, (g) any Equity Interests of any Subsidiary to the extent that the pledge of such Equity Interests would result in material adverse tax consequences to the Borrower or any Subsidiary as reasonably determined by the Borrower, (h) any Equity Interests set forth on Schedule 1.1(b) which have been identified on or prior to the Closing Date in writing to the Administrative Agent by an Authorized Officer of the Borrower and agreed to by the Administrative Agent and (i) Margin Stock.

  • New Equity Interests means the limited liability company

  • Investment Project means an investment in qualified buildings