Common use of Base Equity Contributions Clause in Contracts

Base Equity Contributions. (a) Prior to the date hereof, the Sponsor has made, or caused to be made, Equity Contributions to the Borrower in an aggregate amount equal to twenty-one million Dollars ($21,000,000) (or its equivalent in any other currency) (the “Initial Base Equity Contributions”) as evidenced by bank statements demonstrating contributions in an aggregate amount of not less than sixteen million two hundred thousand Dollars ($16,200,000) (or its equivalent in any other currency) and a certificate from the Auditors confirming that Base Equity Contributions in an aggregate amount of not less than four million eight hundred thousand Dollars ($4,800,000) (or its equivalent in any other currency) have been made. (b) Subject to Section 2.05 (a)(Termination of Support Obligations), the Sponsor undertakes to make, or cause to be made, Equity Contributions (in addition to the Initial Equity Contributions) in accordance with Section 2.03 (Mechanics for Funding Equity Contributions) in an aggregate amount equal to the Required Base Equity Contributions, which Equity Contributions shall be made prior to the delivery of each Disbursement Request, in an amount that is necessary to ensure that the Debt to Equity Ratio does not and shall not exceed, after giving effect to the Disbursement being requested pursuant to such Disbursement Request, 70:30. (c) The total amount of funds to be provided by the Sponsor under this Section 2.01 shall not exceed the Required Base Equity Contributions.

Base Equity Contributions. (a) Prior to the date hereof, the Sponsor has made, or caused to be made, Equity Contributions to the Borrower in an aggregate amount equal to twenty-forty million six hundred seventy one million thousand ninety nine Dollars and sixty eight cents ($21,000,00040,671,099.68) (or its equivalent in any other currency) (the “Initial Base Equity Contributions”) as evidenced by bank statements statements, in form and substance satisfactory to the Senior Lenders, demonstrating contributions in an aggregate amount of not less than sixteen million two hundred thousand Dollars ($16,200,000) (or its equivalent in any other currency) and a certificate from that the Auditors confirming that Initial Base Equity Contributions in an aggregate amount of not less than four million eight hundred thousand Dollars ($4,800,000) (or its equivalent in any other currency) have been made. (b) Subject to Section 2.05 (a)(Termination of Support Obligations), the Sponsor undertakes to make, or cause to be made, Equity Contributions (in addition to the Initial Equity Contributions) in accordance with Section 2.03 (Mechanics for Funding Equity Contributions) in an aggregate amount equal to the Required Base Equity Contributions, which Equity Contributions shall be made prior to the delivery of each Disbursement Request, in an amount that is necessary to ensure that the Debt to Equity Ratio does not and shall not exceed, after giving effect to the Disbursement being requested pursuant to such Disbursement Request, 70:30. (c) The total amount of funds to be provided by the Sponsor under this Section 2.01 shall not exceed the Required Base Equity Contributions.