Approval Equity For Punks

• Category: Corporations - Public - Indebtedness and Financial Restructuring
• State: Multi-State
• Control #: US-CC-6-955
• Format: Word; Rich Text

Description

The Approval Equity for Punks form pertains to the Standby Equity Agreement among the Corporation and its Standby Investors, including Comcast, Liberty, and Time Warner. This agreement allows the Corporation to secure cash funding, not exceeding $12,000,000, to ensure compliance with specific financial covenants under the Credit Agreement. Key features include the stipulation that Cash Funding is exchanged for unregistered shares of Common Stock valued at 75% of the average closing price. Legal professionals such as attorneys and paralegals can utilize this form to ensure correct governance procedures are followed during the approval process at the Annual Meeting, which requires a majority vote from the holders of Voting Stock. Filling and editing instructions emphasize the importance of accurately reflecting any conditions and obligations arising from the agreement, especially concerning compliance deadlines and conditions under the Hart-Scott-Rodino Act. Additionally, it serves as a vital document for understanding potential conflicts of interest among the Standby Investors who hold significant shares in the Corporation. This form is relevant for owners, partners, and associates managing corporate finance and compliance matters, as it structures governance for financing through equity and the corresponding voting procedures required. Therefore, this form is essential for maintaining legal and financial accountability in corporate operations.