Examples of Equity Letters in a sentence
In connection with such reclassification, Common Units reclassified from Class A-2 Profits Interests or Class B Interests that were subject to time-based vesting restrictions immediately prior to the Reorganization have been hereby reclassified as Unvested Common Units on terms set forth in the Employee Equity Letters and the MIP.
Merger Sub has delivered true, correct and complete copies of the Commitment Letter and the Equity Letters to the Company.
Each of the Commitment Letter and the Equity Letters is in full force and effect as of the date hereof.
Merger Sub shall not materially amend in a manner adverse to the Company or voluntarily terminate the Commitment Letter or the Equity Letters without the Company's prior written consent.
Merger Sub is not, as of the date hereof, aware of any fact, occurrence or condition that would cause the Commitment Letter or the Equity Letters to be terminated or ineffective or any of the conditions contained therein not to be met.
Merger Sub has executed a bank commitment letter (the "Commitment Letter") and letters with respect to equity and other financing (the "Equity Letters," and together with the Commitment Letter, the "Financing Letters").
The Contributor may replace, or cause to be replaced, the Equity Letter of Credit or a Cash Collateral Account with one or more substitute Equity Letters of Credit and/or Cash Collateral Accounts from time to time, and the Collateral Agent shall deliver to the Contributor all documentation in its possession and reasonably requested by the Contributor in order to effect such replacement.
In connection with such reclassification, Common Units reclassified from Class A-2 Profits Interests or Class B Interests that were subject to vesting restrictions immediately prior to the Reorganization have been hereby reclassified as Unvested Common Units on terms set forth in the Employee Equity Letters and the MIP.
Lender and Borrowers acknowledge and agree that because Lender is permitting Borrowers to delay Borrowers’ equity contribution in the Project in return for Borrowers posting the Required Equity Letter(s) of Credit, it is anticipated that at some point in time prior to Substantial Completion, the Construction Loan Amount, other than the interest Line Item, will be fully advanced (such time being referred to herein as the “Borrower Advance Date”).
Attached hereto as Exhibit C are true and correct copies of (collectively, the "Equity Letters"); (i) a commitment letter dated the date hereof from Bruckmann, Rossxx, Xxxxxxxx & Xo., L.P. ("BRSLP") pursuant to which BRSLP has committed, subject to the terms and conditions set forth therein, to provide or cause to be provided equity funding of up to $52,500,000; and (ii) a commitment letter dated the date hereof from Citicorp Venture Capital, Ltd.