Capital Advance Clause Samples
Capital Advance. (a) At the Closing, Buyer shall deliver, by wire transfer of immediately available funds in Dollars to the Closing Account, an amount equal to twenty million Dollars ($20,000,000) (the “Buyer Capital Advance”), to satisfy, in part, the obligations of the NorthStar Member (on behalf of the JV Member) under Section 3.02(a) of the Newco LLC Agreement.
(b) At the Closing, Seller shall deliver to Buyer a guarantee (the “Capital Contribution Advance Guarantee”) from Seller in respect of the NorthStar Member’s obligations under the Newco LLC Agreement relating to the Capital Contribution Advance (as defined in the Newco LLC Agreement), substantially in the form of Exhibit G hereto.
Capital Advance. As soon as reasonably possible following the Closing, regardless of whether the Purchaser is at that time listed on the CSE, the Purchaser will advance $100,000 to the Companies for use by the Companies as their working capital.
Capital Advance