Stand-by Equity Facility definition
Stand-by Equity Facility means the facility of up to Three million two hundred and eighteen thousand four hundred and eighty five United States Dollars (US$3,218,485) in respect of shares of common stock raised or (as the context may require) to be raised by the Borrower pursuant to the Standby Equity Distribution Agreement dated as of 11 May 2012 with YA Global Master SPV Ltd., which may be increased to Five million United States Dollars (5,000,000) either under a supplemental agreement to the said agreement or under an agreement with another financial investor;
Stand-by Equity Facility means the facility of up to USD 3,218,485 in respect of shares of common stock raised or (as the context may require) to be raised by the Parent pursuant to the Standby Equity Distribution Agreement dated as of 11 May 2012 with YA Global Master SPV Ltd., which may be increased to USD 5,000,000 either under a supplemental agreement to the said agreement or under an agreement with another financial investor.