Initial Fundraising Requirement definition

Initial Fundraising Requirement means Borrower’s receipt after the Closing Date and on or prior to April 19, 2017, of at least Forty Three Million Two Hundred Fifty Thousand Dollars ($43,250,000) of unrestricted (including not subject to any clawback, redemption, escrow or similar contractual restriction, but excluding any restriction in favor of Agent) net cash proceeds from (a) one or more Equity Events closing after the Closing Date and prior to April 14, 2017 of (x) Borrower (other than Parent) with investors and with terms and conditions reasonably satisfactory to Agent or (y) Parent, or (b) the collection of the 2016 PIPE Notes Receivable in cash outstanding as of the Closing Date.
Initial Fundraising Requirement means Borrower’s receipt after the Closing Date and prior to March 15, 2017, of at least Forty Three Million Two Hundred Fifty Thousand Dollars ($43,250,000) of unrestricted (including not subject to any clawback, redemption, escrow or similar contractual restriction, but excluding any restriction in favor of Agent) net cash proceeds from (a) one or more Equity Events of (x) Borrower (other than Parent) with investors and with terms and conditions reasonably satisfactory to Agent or (y) Parent, or (b) the collection of the 2016 PIPE Notes Receivable in cash outstanding as of the Closing Date.
Initial Fundraising Requirement is hereby amended by replacing “March 23, 2017” with “April 14, 2017” therein.

Examples of Initial Fundraising Requirement in a sentence

  • Each of Lender and Agent acknowledges and agrees that Borrower’s completion of the […***...] by March 15, 2017 pursuant to which Borrower receives net proceeds of at least $43,250,000 shall constitute Borrower’s achievement of the Initial Fundraising Requirement pursuant to the Loan and Security Agreement.

  • Borrower shall achieve the Initial Fundraising Requirement prior to March 15, 2017.

  • Each of Lender and Agent acknowledges and agrees that Borrower’s completion of the […***...] by […***...] pursuant to which Borrower receives net proceeds of at least $[…***...] shall constitute Borrower’s achievement of the Initial Fundraising Requirement pursuant to the Loan and Security Agreement.

  • At all times prior to achievement of both the Corporate Milestone and the Fundraising Milestone, Borrower shall maintain Unrestricted Cash in an amount greater than or equal to […***…]; provided that at all times prior to achievement of the Initial Fundraising Requirement, Borrower shall maintain Unrestricted Cash in an amount greater than or equal to […***…].

  • Borrower shall achieve the Initial Fundraising Requirement prior to […***…].


More Definitions of Initial Fundraising Requirement

Initial Fundraising Requirement means Borrower’s receipt after […***…] and prior to […***…], of at least […***…] of unrestricted (including not subject to any clawback, redemption, escrow or similar contractual restriction, but excluding any restriction in favor of Agent) net cash proceeds from […***…].

Related to Initial Fundraising Requirement

  • Solar alternative compliance payment or "SACP" means a

  • Alternative Compliance Payment or "ACP" means a payment of a certain dollar amount per megawatt hour, which a Retail Electricity Supplier may submit in lieu of supplying the minimum percentage of RECs required under Section 3.3.4 of this Regulation.

  • Reporting Requirement By January 31, 2017, the District will provide for OCR’s review and approval the Web Accessibility Policy drafted consistent with Item 1.

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Listing Requirements means the Main Market Listing Requirements of Bursa Securities.

  • Additional Day-ahead Scheduling Reserves Requirement means the portion of the Day- ahead Scheduling Reserves Requirement that is required in addition to the Base Day-ahead Scheduling Reserves Requirement to ensure adequate resources are procured to meet real-time load and operational needs, as specified in the PJM Manuals.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • securities lending transactions means transactions whereby a Sub-Fund lends its Securities to a security-borrowing counterparty for an agreed fee.

  • Monitoring Requirements Schedule means the Schedule containing details of the monitoring arrangements.

  • Investment Criteria The criteria specified in Section 12.2(a).

  • Initial Funding Date means the Funding Date on which the first Loan is made pursuant to this Agreement, as specified in the Initial Borrower Funding Request.

  • New Services Queue Closing Date means each April 30 and October 31 shall be the Queue Closing Date for the New Services Queue comprised of Interconnection Requests, Completed Applications, and Upgrade Requests received during the six-month period ending on such date. “New York ISO” or “NYISO” shall mean the New York Independent System Operator, Inc. or any successor thereto.

  • Standard Listing Conditions has the meaning ascribed thereto in subsection 4(a)(iv);

  • Initial compliance period means the three-year compliance period that begins January 1, 1993, except for the MCLs for dichloromethane, 1,2,4-trichlorobenzene, 1,1,2-trichloroethane, benzo(a)pyrene, dalapon, di(2-ethylhexyl)adipate, di(2-ethyl- hexyl)phthalate, dinoseb, diquat, endothall, endrin, glyphosate, hexachlorobenzene, hexachlorocyclopentadiene, oxamyl, picloram, simazine, 2,3,7,8-TCDD, antimony, beryllium, cyanide, nickel, and thallium, as they apply to a supplier whose system has fewer than 150 service connections, for which it means the three-year compliance period that began on January 1, 1996.

  • Minimum Transaction Size means the minimum value of subsequent subscriptions,

  • Day-ahead Scheduling Reserves Requirement means the sum of Base Day-ahead Scheduling Reserves Requirement and Additional Day-ahead Scheduling Reserves Requirement.

  • Monitoring and reporting requirements means one or more of

  • Reporting Requirements As defined in Section 11.15.

  • ASAM criteria means admission, continued service, transfer, and discharge criteria for the treatment of substance use disorders as published by the American Society of Addiction Medicine (ASAM).

  • Highest Required Investment Category (i) With respect to ratings assigned by Moody’s, “Aa2” or “P-1” for one month instruments, “Aa2” and “P-1” for three month instruments, “Aa3” and “P-1” for six month instruments and “Aa2” and “P-1” for instruments with a term in excess of six months, (ii) with respect to rating assigned by S&P, “A-1” for short-term instruments and “A” for long-term instruments, and (iii) with respect to rating assigned by Fitch (if such investment is rated by Fitch), “F-1+” for short-term instruments and “AAA” for long-term instruments.

  • Current placement episode means the period of time that

  • Over-Riding Nomination Criteria means the criteria set out in clause 4.2.

  • Intermediate Distribution Frame (IDF means a second frame that augments an existing Main Distribution Frame. Lines or outside cables that do not terminate on the IDF.

  • Secondary dose monitoring system means a system which will terminate irradiation in the event of failure of the primary dose monitoring system.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Minimal sedation means a minimally depressed level of consciousness, produced by a pharmacological method, that retains the patient's ability to independently and continuously maintain an airway and respond normally to tactile stimulation and verbal command. Although cognitive function and coordination may be modestly impaired, ventilator and cardiovascular functions are unaffected;