Top-Up Event definition

Top-Up Event shall have the meaning ascribed thereto in Section 3(i);
View Source
Top-Up Event means (i) any issuance of voting securities by Summit that results in a reduction of Investor Anchor’s voting interest (for the avoidance of doubt, excluding any sale, disposal or transfer of shares of voting securities by Anchor Investor) (an “Involuntary Top-Up Event”) or (ii), (a) at any time Investor Anchor beneficially owns shares of Class A Common Stock in excess of the 25% Threshold, any sale, disposal, or transfer by Investor Anchor that results in Investor Anchor beneficially owning greater than 20% of the then-outstanding shares of Class A Common Stock but less than or equal to the 25% Threshold, (b) at any time Investor Anchor beneficially owns shares of Class A Common Stock in excess of the 17.5% Threshold (but less than the 25% Threshold), any sale, disposal, or transfer by Investor Anchor that results in Investor Anchor beneficially owning greater than 12.5% of the then-outstanding shares of Class A Common Stock but less than or equal to the 17.5% Threshold and (c) at any time Investor Anchor beneficially owns shares of Class A Common Stock in excess of the 5% Threshold (but less than the 17.5% Threshold), any sale, disposal, or transfer by Investor Anchor that results in Investor Anchor beneficially owning any then-outstanding shares of Class A Common Stock but less than or equal to the 5% Threshold (a “Voluntary Top-Up Event”).
View Source
Top-Up Event means an event that results in the PCS Parties not satisfying the 35% Condition, the 25% Condition, the 15% Condition or the 12.5% Condition, respectively, provided that, for the avoidance of doubt, a Top-Up Event will exclude any of the foregoing to the extent it results from any Transfer of shares of Common Stock and other equity securities of the Company by the PCS Parties or any of their Permitted Transferees.
View Source

Examples of Top-Up Event in a sentence

  • Upon receipt of a Top-Up Notice, CGF shall have the right (the “Top-Up Right”), within 90 days of receipt of the Top-Up Notice, to subscribe for and purchase, by way of a private placement, such number of Common Shares as would result in the Pro Rata Interest immediately following completion of the Top-Up Event being equal to the Pro Rata Interest immediately prior to the Top-Up Event (the “Top-Up Shares”).

  • Upon receipt of a Top-Up Notice, IQ shall have the right (the “Top-Up Right”), within 120 days of receipt of the Top-Up Notice, to subscribe for and purchase, by way of a private placement, such number of Common Shares as would result in the Pro Rata Interest immediately following completion of the Top-Up Event being equal to the Pro Rata Interest immediately prior to the Top-Up Event (the “Top-Up Shares”).

  • There occurs a Top-Up Event and the Company fails to pledge Top-Up Shares in favour of the Debenture Trustee within the Top-Up Period.


More Definitions of Top-Up Event

Top-Up Event means an Involuntary Top-Up Event or a Voluntary Top-Up Event.
View Source
Top-Up Event means at any time the Credit Balance is lower than an amount required to meet the Minimum Collateral Cover Ratio, by an amount of US$10,000 or more.
View Source
Top-Up Event means an IPO of an IPO Company and/or a Change of Control.
View Source
Top-Up Event means the determination on any Business Day by the Calculation Agent that the Average Bid Price of either of the Charged Assets is equal to or below 80 per cent of the aggregate nominal amount of the relevant Charged Assets.
View Source
Top-Up Event has the meaning ascribed thereto in Section 5.1;
View Source
Top-Up Event has the meaning ascribed thereto in Section 2.6(b).
View Source
Top-Up Event means the occurrence on any day of either of the following events:
View Source