Equity Cure definition

Equity Cure shall have the meaning set forth in Section 11.5.

Equity Cure has the meaning specified in Section 7.10(b).

Equity Cure has the meaning specified in Section 5.04(c).

Examples of Equity Cure in a sentence

• An Equity Cure may not be used to cure an Event of Default more than twice in any calendar year (or be in an aggregate amount of such cash proceeds in any calendar year of more than $2,000,000), or more than four times during the term of this Agreement (including any extension thereof), or be in an amount greater than necessary to cure the Specified Financial Covenants.

• Upon receipt of any Equity Cure Contribution, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of such Equity Cure Contribution.

• All Equity Cure Contributions shall be disregarded for all purposes of this Agreement (including determining any baskets conditioned upon meeting a leverage ratio contained herein and in the other Credit Documents); provided, that, any such Equity Cure Contributions shall be included in Consolidated EBITDA for the purpose of determining compliance with the Financial Covenant for the applicable Cure Quarter and each fiscal quarter thereafter in a Test Period that includes the Cure Quarter.

• There shall be no pro forma reduction in Indebtedness with the proceeds of the Equity Cure Contribution for purposes of determining compliance with the Financial Covenant for the purpose of determining any pricing, financial covenant based conditions or baskets with respect to the covenants contained in this Agreement, in each case, for the applicable Cure Quarter.

• Upon any Equity Cure of a Specified Financial Covenant, any Event of Default that occurred and is continuing from a breach of such Specified Financial Covenant shall be deemed cured with no further action required by Lender.

More Definitions of Equity Cure

Equity Cure has the meaning assigned to such term in Section 8.14(c)(i)(B).

Equity Cure means the equity cure described in Clause 10.3 (Equity Cure).

Equity Cure means Borrower’s receipt, within sixty (60) days of any failure to achieve the Performance to Plan Milestone, of net proceeds from the sale and issuance of Parent’s equity securities, to investors and on terms and conditions reasonably acceptable to Collateral Agent and the Lenders, of at least Ten Million Dollars ($10,000,000.00).

Equity Cure means an Equity Contribution applied in accordance with Clause 19.4 (Equity Cure).

Equity Cure as defined in Section 7.4.

Equity Cure means an equity injection in accordance with Clause 13.3 (Equity Cure).

Equity Cure shall have the meaning set forth in Section 7.3.