Implied Equity Value Per Share definition
Implied Equity Value Per Share means the per share amount equal to (i) (A) Consolidated Adjusted EBITDA of Borrower for the last twelve months multiplied by 6.5, plus (B) cash, minus (C) consolidated Debt of Borrower (including the Loans) and the Stated Value of Preferred Stock (if any), divided by (ii) total outstanding shares of Common Stock of Borrower calculated on a fully diluted basis.
Examples of Implied Equity Value Per Share in a sentence
During the continuance of an Event of Default, Lender shall have the right to convert all outstanding Obligations into shares of Preferred Stock by dividing the aggregate outstanding Obligation by the lesser of (i) the Interest Conversion Price or (ii) the Implied Equity Value Per Share multiplied by three (3), in each case rounded up to the next whole share.