Equity Contributor definition
Examples of Equity Contributor in a sentence
If at any time the Guaranteed Equity Contributor fails to timely pay any Guaranteed Obligation, any time after proper demand by the Collateral Agent in accordance with the terms of the Equity Funding Agreement and expiration of any applicable cure period under the Equity Funding Agreement the Borrower or the Collateral Agent may give written notice of such default to the Equity Contributor Guarantor and demand payment of such Guaranteed Obligation under this Guaranty.
Monies refunded to the Equity Contributor from the Cash Grant Recapture Liability Proceeds Account will be shared by the Equity Contributor so that, to the greatest extent possible, the net amount paid by each Equity Contributor on account of a claim for Recapture Damages reflects the actual liability of each Equity Contributor for Recapture Indemnification Contributions.
The obligations of each Equity Contributor under this Agreement and each other Equity Document shall not be affected by (i) any default by the Borrower or any other Major Project Participant in the performance or observance of any of its agreements or covenants in this Agreement or any other Transaction Document, or (ii) the insolvency of the Borrower or any other Major Project Participant.
Each Equity Contributor hereby irrevocably waives any defense of a guarantor or surety to which such Equity Contributor might be entitled under any Governmental Rules with respect to any Accelerated Equity Contribution.
No obligations of any Equity Contributor under this Agreement or any other Equity Document shall be released, discharged or in any way affected by any reorganization, arrangement, compromise, composition or plan affecting the Borrower or any of its Affiliates or by any lack of validity or enforceability of this Agreement or any other Transaction Document, whether or not such Equity Contributor or the Borrower or such Affiliate shall have notice or knowledge of any of the foregoing.
The obligations of the Equity Contributor Guarantor under this Guaranty shall not be affected by (i) any default by the Borrower in the performance or observance of any of its agreements or covenants in this Guaranty or any other Transaction Document, or (ii) the insolvency of the Borrower.
Subject to Section 6.4, until the Secured Obligations (other than inchoate indemnity obligations) shall have been indefeasibly paid in full and all commitments to extend credit under the FFB Credit Facility shall have expired or terminated, no Equity Contributor shall enforce or accept any payment by the Borrower under any right of subrogation which may have arisen or may hereafter arise in connection with this Agreement provided, however, that the provisions of this paragraph are subject to Section 6.4.
The liability of each Equity Contributor under this Agreement is limited as set out in this Agreement and is several (and not joint).
As security for the payment and performance of its obligations under this Agreement and the other Secured Obligations, each Equity Contributor hereby grants to the Collateral Agent, for itself and on behalf of and for the ratable benefit of the other Secured Parties, a first priority perfected security interest in the Equity Funding Account and all proceeds thereof (the “Collateral”).
Recapture Indemnification Contributions due from an Equity Contributor shall be paid to the Borrower within ten (10) days after the assessment of Recapture Damages becomes final and non-appealable.