Additional Financial Commitment Required Sample Clauses
The 'Additional Financial Commitment Required' clause obligates one or more parties to provide extra funding or financial resources beyond the original agreement terms. This clause typically specifies the circumstances under which additional payments may be necessary, such as unforeseen project costs, regulatory changes, or budget overruns, and outlines the process for determining and approving these extra contributions. Its core function is to ensure that sufficient financial support is available to complete the project or fulfill contractual obligations, thereby reducing the risk of delays or incomplete performance due to funding shortfalls.
Additional Financial Commitment Required. No additional financial commitment by Hua-An is envisaged for HK Aerospace at this juncture.
Additional Financial Commitment Required. Apart from the Purchase Consideration for the Proposed Acquisition described herein, as the IoT business progresses and further developed in the future, more funds may be channelled towards it to fund its business expansion, as and when necessary. Amongst others, several projects proposed to be undertaken include the following:
(i) To further develop data analytics and A.I. systems as enhancement to the existing IoT programmes for the palm oil sector;
(ii) To roll out IoT initiatives across other agricultural plantations such as rubber, paddy and cocoa;
(iii) To develop and commercialise a self-subscribe based platform Industrial IoT hardware and platform solution, targeting SME markets in South East Asia;
(iv) To create local business presence in Indonesia for its Agriculture IoT solutions; and
(v) To develop A.I. solutions in safety and security for Malaysian law enforcement agencies to increase public safety and security.
Additional Financial Commitment Required. No additional financial commitment by TXB is envisaged for MBits at this juncture.
Additional Financial Commitment Required. No additional financial commitment by TCTB is envisaged for RSSB at this juncture.
Additional Financial Commitment Required. No additional financial commitment by TCTB is envisaged for KASB at this juncture.
Additional Financial Commitment Required. Apart from the Purchase Consideration for the Proposed Acquisition described herein, as the Internet of Things (“IoT”) business progresses and further develops in the future, more funds may be channelled towards it to fund its business expansion, as and when necessary. Amongst others, several projects proposed to be undertaken include the following:
(i) to further develop and scale up its existing Smart City programme to gain improved commercialisation value;
(ii) to rollout Smart City programmes into the rest of the country leveraging on Putrajaya as the proven test case;
(iii) to commercialise its Sales Force Automation enterprise solution as a SaaS model targeting the SME markets in Malaysia and South East Asia;
(iv) to apply for or acquire e-wallet license to enable the growth of mobile promotion business model in its Smart City Platform; and
(v) to incorporate a “freemium” virtual tour guide feature into the Smart City Platform with rich context-aware interaction such as historical insights of Putrajaya, points of interest and etc.