Equity Reserve definition

Equity Reserve has the meaning assigned to such term in the Revolving Program Agreement (as defined as of October 15, 2001).
View Source
Equity Reserve means the reserve containing 915,396 shares of New Common Stock (representing approximately 7.7% of the New Common Stock, subject to dilution by the New Warrants, the Rights, the Management Incentive Options, the Equity Options, and the Consultant Options) and 622,481 New Warrants (consisting of all of the New Warrants, and representing the right to purchase approximately 5% of the New Common Stock, subject to dilution by the Management Incentive Options, the Rights, the Equity Options, and the Consultant Options), which shall be distributed to the holders of Preferred Stock Interests, Common Stock Interests, and the holders of Securities Claims on the Distribution Date pursuant to the terms of this Plan.
View Source
Equity Reserve means the aggregate total of $1,480,000.00 to be deposited with Lender and maintained as additional Collateral for the Loan, as provided in this Agreement and required by Lender.
View Source

Examples of Equity Reserve in a sentence

  • The Borrower shall give the Agent at least ten (10) Business Days prior written notice, specifying the principal amount outstanding under Tranche A to be prepaid, and the amount to be drawn under the Equity Reserve Account or, as the case may be, Tranche D2.

  • Withdrawals may, by prior arrangement, include draws on your Checking Reserve, Checking Reserve Plus or Equity Reserve account.

  • Any balance on the Equity Reserve Account from time to time will count towards the Target Balance.

  • The Borrower shall have the right, effective on the first day of any Interest Period commencing within 18 months after Acceptance, to prepay any amount outstanding under Tranche A by drawing an equivalent amount from the Equity Reserve Account or, if the balance standing to the credit of such account is insufficient for the purpose, by drawing an amount of up to EUR 5 million under Tranche D2 to the extent necessary to meet the EU-Equity Test.

  • The Agent is entitled to set off the credit balance in the Equity Reserve Account against any obligations of the Borrower due and payable under the Financing Documents to the Lenders if the Borrower does not, does not on time or does not entirely perform such obligations.

  • The Equity Reserve Account will be funded by Excess Start-Up Cash Flows and by the amount determined in accordance with Clause 2.6.2 (b) (vi) of the Shareholders’ Undertaking Agreement in accordance with the provisions of the Shareholders’ Undertaking Agreement.

  • Capitation payments received by the Primary Contractor pursuant to the Agreement, which are not expended on services (State Plan, in lieu of and in addition to services) or administrative functions and which are in excess of the Equity Reserve required to be maintained under the Agreement.

  • The Equity Reserve Account will be used for securing the Lenders’ claims under the Financing Documents in priority to the funds on the Debt Service Reserve Account.

  • You could lose all the money in your account, plus the maximum amount of any line of credit linked to your account (such as a Checking Reserve or Equity Reserve account).

  • The Agent is entitled to set off the credit balance in the Equity Reserve Account against any obligations of the Borrower due and payable under the Financing Documents to the Lenders and the Blue Mill Lenders if the Borrower does not, does not on time or does not entirely perform such obligations.


More Definitions of Equity Reserve

Equity Reserve means the number of shares of New Common Stock which will be reserved pursuant to the Incentive Stock Option Plan, which will be set forth in the Plan Supplement.
View Source
Equity Reserve means an amount equal to $4,000,000. "Event of Acceleration" under any agreement shall mean the occurrence of any event and the passage of a time period, if any, that entitles any party to accelerate any obligation, payment or other liability of any of the Companies. "Event of Default" with respect to any agreement shall have the meaning ascribed to such term in such agreement and in addition any event under any agreement that entitles any party to terminate such agreement or other "cross-defaulted" agreements or to demand or accelerate all payments or to exercise any remedies under such agreement.
View Source