Second Equity Event definition

Second Equity Event means Borrower has received, on or after April 7, 2022, but on or prior to May 31, 2022, into its accounts at Silicon Valley Bank, net cash proceeds in an aggregate amount not less than Fifteen Million Dollars ($15,000,000) (inclusive of any amounts received from the First Equity Event) 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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Second Equity Event is the receipt by Borrower after the occurrence of the First Equity Event of unrestricted net cash proceeds of not less than Thirteen Million Dollars ($13,000,000.00) in the aggregate for two separate therapeutics that are not the same as the therapeutics with respect to which the First Equity Event occurred (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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Second Equity Event is the receipt by Borrower after the consummation of the Equity Event and on or after January 29, 2016, of unrestricted net cash proceeds of not less than Two Million Five Hundred Thousand Dollars ($2,500,000.00) from the issuance and sale by Borrower of its equity securities, or of its unsecured subordinated convertible debt to Energy Capital, LLC or one or more of its affiliates.
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Examples of Second Equity Event in a sentence

  • If, at any time, the sum of (a) the outstanding principal amount of any Advances, plus, commencing upon the occurrence of the Second Equity Event, (b) the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) exceeds the lesser of either the Revolving Line or the Borrowing Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”).


More Definitions of Second Equity Event

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." 2.4 Section 13 (Definitions). The Loan Agreement shall be amended by inserting the following new definitions to appear alphabetically in Section 13.1 thereof: 2
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Second Equity Event is the receipt by Irish Borrower on or after November 14, 2016 and on or prior to March 31, 2018 of unrestricted gross cash proceeds of not less than Thirty Million Dollars ($30,000,000.00), which amount shall include the proceeds received as part of the equity financing transaction constituting the First Equity Event, from the issuance and sale by Borrower of its equity securities.
Sample 1
Second Equity Event occurs if and when (if ever) Bank confirms in writing that it has received evidence satisfactory to Bank in its sole and absolute discretion, on or prior to December 31, 2024, that Xxxxxxxx has received, after the Sixth Amendment Effective Date, but on or prior to December 31, 2024, unrestricted and unencumbered net cash proceeds of at least $75,000,000.00 from the issuance and sale of its equity securities to investors satisfactory to Bank (which proceeds shall not include any proceeds received in connection with the 2023 Term B Milestone Event).”
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Second Equity Event means Borrower's receipt of gross proceeds (net only 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, which when added to the proceeds of the First Equity Event, equal or exceed Fifteen Million Dollars ($15,000,000.00).
Sample 1

Related to Second Equity Event

  • Equity Event is the receipt by Borrower, on or after March 6, 2018 and on or prior to June 30, 2018, of unrestricted net cash proceeds of not less than Thirty Million Dollars ($30,000,000.00) from (i) the issuance and sale by Borrower of its unsecured subordinated convertible debt and/or equity securities and/or (ii) “up front” or milestone payments in connection with a joint venture, collaboration or other partnering transaction.

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

  • Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that:

  • Specified Equity Contribution has the meaning specified in Section 8.04.

  • Security Event means an immediately reportable subset of security incidents which incident would include:

  • Non-Viability Event means the earlier of:

  • Qualified Equity Financing means the first 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).

  • Qualified Equity Offering means the sale and issuance for cash by the Corporation to persons other than the Corporation or any of its subsidiaries after the Original Issue Date of shares of perpetual Preferred Stock, Common Stock or any combination of such stock, that, in each case, qualify as and may be included in Tier 1 capital of the Corporation at the time of issuance under the applicable risk-based capital guidelines of the Corporation’s Appropriate Federal Banking Agency (other than any such sales and issuances made pursuant to agreements or arrangements entered into, or pursuant to financing plans which were publicly announced, on or prior to October 13, 2008).

  • 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.

  • Qualified Equity Interest means and refers to any Equity Interests issued by Parent (and not by one or more of its Subsidiaries) that is not a Disqualified Equity Interest.

  • Qualifying Equity Interests means Equity Interests of the Company other than Disqualified Stock.

  • 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) of the Exchange Act) by the Company or an Acquiring Person that an Acquiring Person has become such, or such earlier date as a majority of the Board of Directors shall become aware of the existence of an Acquiring Person.

  • Excluded Equity means any Voting Stock in excess of 66% of the total outstanding Voting Stock of any direct Subsidiary of any Grantor that is a Non-U.S. Person. For the purposes of this definition, “Voting Stock” means, as to any issuer, the issued and outstanding shares of each class of capital stock or other ownership interests of such issuer entitled to vote (within the meaning of Treasury Regulations § 1.956-2(c)(2)).

  • Qualified Equity Interests means any Equity Interests that are not Disqualified Equity Interests.

  • Non-Qualified Share Option means an Option that is not intended to be an Incentive Share Option.

  • Qualifying Acquisition has the meaning specified in Section 5.03.

  • Specified Acquisition Period means a period elected by the Borrower that commences on the date elected by the Borrower, by notice to the Administrative Agent, following the occurrence of a Specified Acquisition and ending on the earliest of (a) the third Quarterly Testing Date occurring after the consummation of such Specified Acquisition, (b) the date designated by the Borrower as the termination date of such Specified Acquisition Period, or (c) the Quarterly Testing Date on which the Borrower is in compliance with Section 7.09 as such compliance is determined as if such period was not a Specified Acquisition Period; provided, in the event the Leverage Ratio exceeds 5.00 to 1.00 as of the end of any Fiscal Quarter in which a Specified Acquisition has occurred, the Borrower shall be deemed to have so elected a Specified Acquisition Period with respect thereto on such last day of such Fiscal Quarter, and provided, further, following the election (or deemed election) of a Specified Acquisition Period, the Borrower may not elect (or be deemed to have elected) a subsequent Specified Acquisition Period unless, at the time of such subsequent election, the Leverage Ratio does not exceed 5.00 to 1.00; and provided further with respect to a Specified Acquisition by an Unrestricted Subsidiary or a joint venture, a Specified Acquisition Period may be elected by the Borrower (or may be deemed elected by the Borrower) only if the consideration for such Specified Acquisition is raised by the Borrower or a Subsidiary. Only one Specified Acquisition Period may be elected (or deemed elected) with respect to any particular Specified Acquisition.

  • Sale Event means (i) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power and outstanding stock immediately prior to such transaction do not own a majority of the outstanding voting power and outstanding stock or other equity interests of the resulting or successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction, (iii) the sale of all of the Stock of the Company to an unrelated person, entity or group thereof acting in concert, or (iv) any other transaction in which the owners of the Company’s outstanding voting power immediately prior to such transaction do not own at least a majority of the outstanding voting power of the Company or any successor entity immediately upon completion of the transaction other than as a result of the acquisition of securities directly from the Company.

  • Vesting Event means the earliest to occur of the following events:

  • Net Equity Proceeds means an amount equal to any Cash proceeds from a capital contribution to, or the issuance of any Equity Interests of, Holdings or any of its Subsidiaries, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses.

  • Non-Qualified Stock Option means any Stock Option that is not an Incentive Stock Option.

  • Real estate transaction or "transaction" means an actual or prospective transaction involving a purchase, sale, option, or exchange of any interest in real property or a business opportunity, or a lease or rental of real property. For purposes of this chapter, a prospective transaction does not exist until a written offer has been signed by at least one of the parties.

  • Investment Company Event means the receipt by the Debenture Issuer and the Trust of an opinion of counsel experienced in such matters to the effect that, as a result of the occurrence of a change in law or regulation or written change (including any announced prospective change) in interpretation or application of law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that the Trust is or, within 90 days of the date of such opinion, will be considered an Investment Company that is required to be registered under the Investment Company Act which change or prospective change becomes effective or would become effective, as the case may be, on or after the date of the issuance of the Debentures.

  • Adjusted Equity means the Equity funded in Indian Rupees and adjusted on the first day of the current month (the “Reference Date”), in the manner set forth below, to reflect the change in its value on account of depreciation and variations in WPI, and for any Reference Date occurring:

  • Change of Control Value means (i) the per share price offered to stockholders of the Company in any such merger, consolidation, reorganization, sale of assets or dissolution transaction, (ii) the price per share offered to stockholders of the Company in any tender offer or exchange offer whereby a Change of Control takes place, or (iii) if such Change of Control occurs other than pursuant to a tender or exchange offer, the Fair Market Value per share of the shares into which Awards are exercisable, as determined by the Committee, whichever is applicable. In the event that the consideration offered to stockholders of the Company consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered which is other than cash.