Equivalent Basis definition

Equivalent Basis means, when used in respect of particular provisions of the Retail Energy Code, that those provisions (as amended from time to time) are to apply to this Access Agreement as if they were set out in this Access Agreement, subject to the changes necessary for those provisions to make sense in the context of this Access Agreement (including so that references in those provisions to 'this Code' were to 'this Access Agreement');

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Equivalent Basis means the relative value of one share of Preferred Stock ---------------- to the value of one share of Common Stock, which shall be determined , at the option of the Group A Holder effecting a Transfer pursuant to Section 3.4 or Section 3.5, either (i) by assuming the conversion in full of the Preferred Stock into Common Stock in accordance with its terms, allocating to holders of Preferred Stock of the full value of all accrued and unpaid dividends on such Preferred Stock at the time of determination, (ii) by an independent investment banking firm selected by the Board, who shall, within 30 days after selection by the Board, determine the relative value of the Preferred Stock and the Common Stock using customary investment banking methods giving effect to the value of the liquidation preference of the Preferred Stock, and whose determination shall be conclusive on all parties, or (iii) in the event the proposed consideration being offered with respect to the Preferred Stock (assuming conversion in full of the Preferred Stock and allocating to holders of Preferred Stock of the full value of all accrued and unpaid dividends on such Preferred Stock at the time of determination) in a Transfer governed by Section 3.4 or 3.5 is less than the amount of the full liquidation preference of the Preferred Stock plus accrued and unpaid dividends, then the consideration shall be allocated first to the Preferred Stock to the extent of the accrued and unpaid dividends thereon, then to the holders of the Preferred Stock and Common Stock on a Common Stock equivalent basis assuming conversion in full of the Preferred Stock but allocating to the Common Stock represented by Preferred Stock two times the amount allocated to Common Stock not represented by Preferred Stock, until the holders of Preferred Stock have received the amount of the full liquidation preference and accrued and unpaid dividends on the Preferred Stock, and thereafter in accordance with clause (i) above.

Examples of Equivalent Basis in a sentence

• Interest Income and Average Rates and Yields on a Tax Equivalent Basis................

• If the Corporation declares or pays a dividend or makes any distribution on the Common, then the holders of the outstanding shares of Pari Passu Preferred (on a Common Equivalent Basis as of the record date for such dividend or distribution) and the holders of the Common shall share pro rata in such dividend or distribution.

• The Investor's percentage ownership (which shall initially constitute an 18% interest in the voting rights of the Company, on a Common Share Equivalent Basis), shall not be diluted or reduced by reason of any issuance of additional shares of the Company's equity securities (including both common stock and preferred stock) pursuant to the Non-Dilutive Transactions.

• If there is more than a 15-year age difference between the Member and his Beneficiary, then the amount payable pursuant to either Option B or Option C will be determined on an Actuarial Equivalent Basis.

• In computing the relevant production, Natural Gas production shall be added to Crude Oil production after converting to Barrels of Crude Oil on an Energy Equivalent Basis.

• For purposes of this Agreement, the ownership by any Person of the Company's outstanding securities shall be determined based on and assuming the conversion of all securities of the Company other than common stock based on the conversion rights of such shares or, if none, based on the voting rights of such shares in relation to the Company's common shares (a "Common Share Equivalent Basis").

• Provided however, that there shall be no monthly minimum advertising expenditures if the Licensee is operating the Institute at a minimum of 85% capacity, with capacity being scheduled capacity agreed to by ITI and the Licensee, each acting reasonably, on an Annualized Full Time Equivalent Basis.

• Any of the rights, powers or preferences of the holders of Series C Preferred and Conversion Common Shares set forth herein may be waived or otherwise defeased by the affirmative written consent of the holders of at least a majority of the shares of Series C Preferred and Conversion Common Shares then outstanding, voting as a single class on a Common Equivalent Basis.

• Any of the rights, powers or preferences of the holders of Series A Preferred and Conversion Common Shares set forth herein may be waived or otherwise defeased by the affirmative written consent of the holders of at least a majority of the shares of Series A Preferred and Conversion Common Shares then outstanding, voting as a single class on a Common Equivalent Basis.

• Upon notice from the holders of a majority of the outstanding Pari Passu Preferred and Conversion Common Shares, voting as a single class on a Common Equivalent Basis, then outstanding that they intend to exercise their rights under this Section 6(b)(i), the Corporation shall immediately take whatever action is necessary so as to effectuate this Section 6(b)(i), including, without limitation, increasing the size of the Board and electing such additional Investor Directors.