Minimum Demand definition
Examples of Minimum Demand in a sentence
For the avoidance of doubt, loans may have a Demand Spread that is lower than the applicable amount stated on Schedule B during the term of the Loan so long as the Loan satisfied the Minimum Demand Spread Test at time of initiation.
The Initiating Holders shall have the right, at any time that the Company is legally eligible to file a Shelf Registration Statement, to elect that a Demand Registration be made pursuant to a Shelf Registration Statement (a “Shelf Demand”); provided, that each registration made pursuant to a Shelf Demand must include Registrable Securities in an amount not less than the Minimum Demand Amount.
Each Fund hereby instructs State Street to implement the Minimum Demand Spread Test set forth below at the initiation of each Loan.
If, as a result of such withdrawal, the amount of Registrable Stock to be included in the offering is less than the Minimum Demand Amount, the Company shall not be required to proceed with such offering.
Subject to the provisions of this Article II, any Holder or group of Holders shall have the right to make a written request (a “Demand Request”) to have Lazard Ltd register under the Securities Act for offer and sale an amount of such Holders’ Registrable Securities that is not less than the Minimum Demand Number a “Demand Registration”), at any time on or after July 1, 2008 (the “Initial Conversion Date”) and prior to the termination of this Agreement.
Such request shall specify the number of Registrable Shares to be registered, which amount shall not be less than the lesser of (i) four million Regis- trable Shares and (ii) 50% of the Registrable Shares then out- standing (but in any event not less than two million Registra- ble Shares), subject to appropriate adjustment in the event of a stock split, reverse stock split or stock dividend (such min- imum amount being referred to herein as the "Minimum Demand Quantity").
If any request for the Minimum Demand Quantity is delivered within the applicable time period specified in this Section 3(b), the Company shall proceed in accordance with the applicable provisions hereof for a reasonable time period not- withstanding the fact that the related Registration Statement would not become effective until after the expiration of the period during which such request was required to be delivered.
The Membership Fee amount shall be used as a deposit towards Minimum Demand Guarantee and in case of demand falling short of 30% of the installed capacity (480 KLD) in any financial year, the Concessionaire has the right to collect the shortfall from Membership Fee.
Each Fund hereby acknowledges that (i) such Minimum Demand Spread Test shall not be implemented by State Street until this Letter of Direction is countersigned by State Street, and (ii) State Street shall have a reasonable time to implement the Minimum Demand Spread Test after countersigning this Letter of Direction.
The Holders shall have a one-time right to demand registration of an offering under the Securities Act of not more than the Maximum Demand Amount and not less than the Minimum Demand Amount (the “Demand Right”).