Funded Equity definition

Funded Equity means, at any time of determination, (i) the Net Contracts Balance on such date plus (ii) all principal collections on deposit in the Collection Account minus (iii) the sum of the principal of all Advances then outstanding under this Agreement.

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Funded Equity means the sum of:

Funded Equity at any time of determination means, as to the Borrower, the greater of (i)(a) the sum of (x) the Aggregate Contracts Balance plus (y) (without duplication) the equivalent in Dollars, as determined by the Collateral Manager using the Applicable Conversion Rate, of all cash then on deposit in the Collection Account less (b) the aggregate principal amount of all Advances then outstanding under this Agreement and (ii) $0.

Examples of Funded Equity in a sentence

• The Borrower shall maintain at all times Funded Equity in an amount equal to the greater of (x) $35,000,000 and (y) the sum of the five largest Aggregate Outstanding Principal Balances measured on an Obligor by Obligor basis.

• The Borrower shall maintain at all times Funded Equity in an amount equal to the greater of (x) $25,000,000 and (y) the sum of the eight largest Aggregate Outstanding Principal Balances measured on an Obligor by Obligor basis.

• Subject to the terms and conditions of all Equity Commitment Letters evidencing Funded Equity Commitments, as of the date hereof, and assuming the conditions set forth in §7(a) are satisfied, the conditions to (A) closing the transactions contemplated under such Equity Commitment Letters, and (B) the release of the funds under each other document evidencing Funded Equity Commitments, in each case, will be satisfied.

• Notwithstanding the foregoing, as of any date after the date hereof, such Equity Commitment Letters will not be outstanding to the extent such Funded Equity Commitments have been satisfied by the purchase of Series A Preferred Stock under the Preferred Stock Purchase Agreement; provided, that the representations herein shall thereafter apply to the Preferred Stock Purchase Agreement and other documents relating to the Series A Preferred Stock so purchased.

• The Company shall have provided evidence satisfactory to the Collateral Agent and each of the Purchaser Parties that the Company has received net cash equity proceeds of at least $65,966,822 in the form of Qualifying Funded Equity.

• As of the date hereof, there are at least $2,500,000 in Funded Equity Commitments.

• The Borrower shall maintain at all times Funded Equity in an amount equal to the greater of (x) $25,000,000 and (y) the sum of (i) up to and including 23, 2018, the four largest Aggregate Outstanding Principal Balances measured on an Obligor by Obligor basis and (ii) thereafter, the five largest Aggregate Outstanding Principal Balances measured on an Obligor by Obligor basis.

• The Conversion Date with respect thereto shall be the date on which the Qualifying Funded Equity required to be contributed to the Company, as described in Section 2.2, shall have been contributed to the Company, provided, that date shall be no earlier than three Euro-Dollar Business Days after the date of Notice of Conversion to Exchange Debt delivered pursuant to this Section 2.4(b).

• There are no side letters, agreements, contracts, arrangements or other terms imposing any conditions or contingencies on the funding of the equity commitments or the release of any funds, other than those expressly set forth in the executed Equity Commitment Letters and any other document evidencing Funded Equity Commitments.

• The Borrower shall maintain at all times Funded Equity in an amount equal to the greater of (x) $25,000,00035,000,000 and (y) the sum of (i) up to and including July 23, 2018, the four largest Aggregate Outstanding Principal Balances measured on an Obligor by Obligor basis and (ii) thereafter, the five largest Aggregate Outstanding Principal Balances measured on an Obligor by Obligor basis.

More Definitions of Funded Equity

Funded Equity means, at any time of determination, (i) the Net Contracts Balance on such date minus (ii) the Excess Concentration Amount plus (iii) all principal collections on deposit in the Collection Account minus (iv) the sum of the principal of all Advances then outstanding under this Agreement.

Funded Equity means, at any time Equity of the Credit Parties directly attributable to the issuance of securities, determined on a consolidated basis (and for greater certainty shall be determined without reference to any retained earnings or losses).

Funded Equity means with respect to the Guarantor at any date of ------------- determination, all proceeds of the sale of Equity Interests received by the Guarantor directly or as a result of capital contributions.

Funded Equity has the meaning set forth in the Islands Credit Agreement.

Funded Equity means the excess, if any, of (a) the sum of (i) the amount, in dollars, of cash capital contributions made to Holdings by the Shareholders and further contributed by Holdings to Vesper in respect of Equity Interests of Vesper (excluding any such contributions made (w) pursuant to clause (b) of Section 7.02, (x) as contemplated by the proviso to exception (vi) to Section 6.04(a) or Section 7.01(p), (y) to provide funds for any of the matters described in clauses (ii), (iii) or (iv) of the definition of "Project" or (z) as described in clause 2.3.3(e) of the Shareholders Agreement, except where paid pursuant to Section 2.3.8(A) of the Shareholders Agreement) and (ii) the principal amount of cash loans made to Vesper by a Sponsor or a Shareholder that constitute Primary Subordinated Obligations (excluding any such loans made (w) pursuant to clause (b) of Section 7.02, (x) as contemplated by the proviso to exception (vi) to Section 6.04(a) or Section 7.01(p), (y) to provide funds for any of the matters described in clauses (ii), (iii) or (iv) of the definition of "Project" or (z) as described in clause 2.3.3(e) of the Shareholders Agreement, except where paid pursuant to Section 2.3.8(A) of the Shareholders Agreement), each calculated in dollars (at the PTAX 800 Rate prevailing at the time such contribution or loan is made, in the case of any such contribution or loan made in Reais), over (b) the Devaluation Amount; provided that, notwithstanding the foregoing, any contributions or loans made pursuant to clause (b) of Section 7.02 to cure a shortfall (the "Shortfall Amount") in Annualized EBITDA or Cumulative Consolidated EBITDA (as defined below) and excluded pursuant to item (w) of clause (a)(i) or (a)(ii) of this definition (the "Additional Contributed Amount") shall be included in this definition if (y) in the case of a Shortfall Amount in Annualized EBITDA, (I) the Consolidated EBITDA for any of the four immediately succeeding fiscal quarters exceeds the Implied Quarterly EBITDA (as defined below) for such fiscal quarter by an amount at least equal to the Shortfall Amount, and (II) the aggregate Consolidated EBITDA for the four immediately succeeding fiscal quarters exceeds the aggregate amount of the Implied Quarterly EBITDA for such four fiscal quarters by an amount at least equal to 150% of the Shortfall Amount, and (z) in the case of a Shortfall Amount in Cumulative Consolidated EBITDA, (I) the Cumulative Consolidated EBITDA for any of the four immedi...

Funded Equity means, at any date, the sum of (i) the amount of capital contributions made by HoldCo in respect of common equity of the Company, (ii) the amount of capital contributions made by HoldCo in respect of preferred stock of the Company (other than Redeemable Capital Stock) that carries no unwaived rights to cash dividends, and (iii) the principal amount of Shareholder Loans without regard to "payment in kind" interest added to principal; each calculated in Dollars at the PTAX 800 Rate prevailing at the time such contribution or loan is made, in each case net of dividends, repayments and other Restricted Payments, in each case calculated in Dollars at the PTAX 800 Rate prevailing at the time such dividend, repayment or other Restricted Payment was paid. The total amount of Funded Equity as of the date hereof is $65,966,822.