First Equity Event definition

First Equity Event is the receipt by Borrower on or after the Effective Date of unrestricted net cash proceeds of not less than Thirteen Million Dollars ($13,000,000.00) in the aggregate for two separate therapeutics (with net cash proceeds of not less than Six Million Five Hundred Dollars ($6,500,000.00) for each such therapeutic) from (i) the issuance and sale by Borrower of its unsecured subordinated convertible debt and/or equity securities to Persons approved by Collateral Agent in advance in writing and/or (ii) “up front” or milestone payments in connection with a joint venture, licensing, collaboration or other partnering transaction, and the initiation of and the initiation of the production of such two therapeutics in compliance with the applicable “Good Manufacturing Practices”.
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First Equity Event means Borrower has received, on or after April 7, 2022, but on or prior to May 15, 2022, into its accounts at Silicon Valley Bank, net cash proceeds in an aggregate amount not less than Twelve Million Dollars ($12,000,000) from the sale of Borrower’s equity securities and/or the incurrence of Subordinated Debt on terms and from investors acceptable to Bank.
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First Equity Event means that the Company has received, after December 1, 2011, gross cash proceeds in an aggregate amount of Fifty Million Dollars ($50,000,000) from the sale, in one or more transactions, of the Company’s equity securities.
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Examples of First Equity Event in a sentence

  • After the occurrence of the First Equity Event, Borrower may request Loans under the Loan Agreement and Bank may, in its commercially reasonable discretion, make Loans to Borrower.

  • Borrower acknowledges and agrees that, notwithstanding anything to the contrary contained in the Loan Agreement or any of the Existing Loan Documents, Borrower has no ability to request additional Loans under the Loan Agreement and Bank has no obligation to make any further Loans thereunder until and unless Borrower timely complies with the First Equity Event.

  • Borrower acknowledges and agrees that, notwithstanding anything to the contrary contained in the Loan Agreement or any of the Existing Loan Documents, Borrower has no ability to request additional Advances under the Loan Agreement and Bank has no obligation to make any further Advances thereunder until and unless Borrower timely complies with the First Equity Event (as defined in a certain First Loan Modification Agreement of even date herewith regarding the Domestic Agreement).


More Definitions of First Equity Event

First Equity Event means Borrower's receipt of gross proceeds (net of underwriting or placement agent fees and expenses not to exceed Five Hundred Thousand Dollars ($500,000.00)) from the sale of Borrower's equity securities of at least Seven Million Five Hundred Thousand Dollars ($7,500,000.00).
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First Equity Event is the receipt by Irish Borrower on or after November 14, 2016 and on or prior to the Effective Date of unrestricted gross cash proceeds of not less than Twenty Million Dollars ($20,000,000.00) from the issuance and sale by Borrower of its equity securities.
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First Equity Event means confirmation by Bank that Borrower has received, on or after April 27, 2018, but on or prior to May 31, 2018, unrestricted and unencumbered net cash proceeds in an amount of at least One Million Five Hundred Thousand Dollars ($1,500,000.00) from (a) the issuance and sale by Borrower of its equity securities or Subordinated Debt to investors acceptable to Bank or (b) proceeds from the sale of CGI India." " "Second Equity Event" means confirmation by Bank that Borrower has received, after the occurrence of the First Equity Event, but on or prior to June 30, 2018, unrestricted and unencumbered net cash proceeds in an amount of at least Two Million Five Hundred Thousand Dollars ($2,500,000.00) from the issuance and sale by Borrower of its equity securities or Subordinated Debt to investors acceptable to Bank." " "Obligations" are Borrower's obligations to pay when due any debts, principal, interest, fees, Bank Expenses, the Anniversary Fee, the Unused Revolving Line Facility Fee, the Modification Fee, and other amounts Borrower owes Bank now or later, whether under this Agreement, the other Loan Documents, or otherwise, including, without limitation, any interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower's duties under the Loan Documents."
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Related to First Equity Event

  • Equity Event is the receipt by Borrower on or after the Effective Date of unrestricted net cash proceeds of not less than Forty Million Dollars ($40,000,000.00) from the issuance and sale by Borrower of its equity securities, on or before March 31, 2016 and the receipt of evidence thereof by Collateral Agent on or before such date, which evidence must be reasonably acceptable to Collateral Agent.

  • Liquidity Event means a Change of Control or an IPO.

  • Stock Acquisition Date means the first date of public announcement (which, for purposes of this definition, shall include, without limitation, a report filed pursuant to Section 13(d) under the Exchange Act) by the Company or an Acquiring Person that an Acquiring Person has become such.

  • Net Equity ’ means, subject to such rules and regulations as the Commission pro- mulgates under the Act, with respect to the aggregate of all of a customer’s accounts that such customer has in the same capacity—

  • Net Equity Proceeds means, with respect to each issuance or sale of any equity by any Person or any capital contribution to such Person, the cash proceeds (net of underwriting discounts and commissions and other reasonable costs associated therewith) received by such Person from the respective sale or issuance of its equity or from the respective capital contribution.

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Parent Equity Plan means the Energy Transfer Equity, L.P. Long-Term Incentive Plan.

  • Next Equity Financing means the next sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale (or series of related sales)).

  • Shares Acquisition Date means the first date of public announcement by the Company or an Acquiring Person that an Acquiring Person has become such.

  • Net Equity Value means, at any time, the total assets of the applicable business less the total liabilities of such business less the amounts attributable to the minority interest in such business, in each case as determined on a consolidated basis, in accordance with GAAP, subject to the last sentence of the definition of Capitalization Value.

  • Share Acquisition Date means the first date of public announcement (which, for purposes of this definition, shall include, without limitation, a report filed pursuant to Section 13(d) of the Exchange Act) by the Company or an Acquiring Person that an Acquiring Person has become such.

  • Stock Acquisition means the purchase or other acquisition by Borrower or any of its Subsidiaries of all of the Equity Interests (by merger, stock purchase or otherwise) in any other Person.

  • Parent Equity Awards means Parent Options, Parent DSU Awards and Parent PSU Awards.

  • Make-Whole Acquisition Stock Price means the consideration paid per share of Common Stock in a Make-Whole Acquisition. If such consideration consists only of cash, the Make-Whole Acquisition Stock Price shall equal the amount of cash paid per share of Common Stock. If such consideration consists of any property other than cash, the Make-Whole Acquisition Stock Price shall be the average of the Closing Price per share of Common Stock on each of the 10 consecutive Trading Days up to, but not including, the Make-Whole Acquisition Effective Date.

  • First Equity Financing Price means (x) if the pre-money valuation of the Company immediately prior to the First Equity Financing is less than or equal to the Valuation Cap, the lowest price per share of the Equity Securities sold in the First Equity Financing or (y) if the pre-money valuation of the Company immediately prior to the First Equity Financing is greater than the Valuation Cap, the SAFE Price.

  • Qualifying Acquisition has the meaning specified in Section 5.03.

  • Change in Control Transaction means the occurrence of any of the following events:

  • Parent Equity Plans means all employee and director equity incentive plans of Parent and agreements for equity awards in respect of Parent Common Stock granted under the inducement grant exception.

  • Non-Viability Event means the earlier of:

  • Recapitalization Event means any event of share combination or subdivision, distribution of bonus shares or any other similar reclassification, reorganization or recapitalization of the Company’s share where the shareholders retain their proportionate holdings in the Company.

  • Capital Stock Sale Proceeds means the aggregate cash proceeds received by the Company from the issuance or sale (other than to a Subsidiary of the Company or an employee stock ownership plan or trust established by the Company or any such Subsidiary for the benefit of their employees) by the Company of its Capital Stock (other than Disqualified Stock) after the Issue Date, net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof.

  • First Trading Date means 15 November 2022.

  • IPO means the Company’s first underwritten public offering of its Common Stock under the Securities Act.

  • Equity Listing Event means an initial public offering of shares in the Issuer, after which such shares shall be quoted, listed, traded or otherwise admitted to trading on a regulated market or unregulated market.

  • Specified Equity Contribution means any cash contribution to the common equity of Holdings and/or any purchase or investment in an Equity Interest of Holdings other than Disqualified Equity Interests.

  • Holding Limit Event means, assuming the investor is the Issuer and/or any of its affiliates, the Issuer together with its affiliates, in aggregate hold, an interest in the Underlying Stock, constituting or likely to constitute (directly or indirectly) ownership, control or the power to vote a percentage of any class of voting securities of the Underlying Stock, of the Underlying Stock in excess of a percentage permitted or advisable, as determined by the Issuer, for the purpose of its compliance with the Bank Holding Company Act of 1956 as amended by Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Volcker Rule), including any requests, regulations, rules, guidelines or directives made by the relevant governmental authority under, or issued by the relevant governmental authority in connection with, such statutes.