Capital Condition Clause Samples
A Capital Condition clause sets requirements regarding the financial resources or capital that a party must maintain during the term of an agreement. Typically, this clause specifies minimum capital thresholds or ratios that must be met, and may require regular reporting or notification if the capital falls below the agreed level. Its core practical function is to ensure that the obligated party remains financially stable and capable of fulfilling its contractual obligations, thereby reducing the risk of default or non-performance.
Capital Condition. For the avoidance of doubt, the parties agree that, notwithstanding any provision to the contrary herein, the Company shall not be required to enter into any Facility Sale Transaction unless and until the earlier of the date on which (a) the Capital Condition is satisfied or (b) the Company waives the Capital Condition.
Capital Condition. For the avoidance of doubt, the Parties agree that, notwithstanding any provision to the contrary herein, the Purchaser shall not be required, at any time prior to the Trigger Date, to enter into any transaction to purchase any Purchased Loan or Available Unfunded Commitment pursuant to, or be subject to any other obligations arising under, this Agreement unless and until the Trade Date in respect of such Purchased Loan or such Available Unfunded Commitment has occurred and, on or prior to the Scheduled Facility End Date, the Capital Condition has been satisfied.
Capital Condition. For the avoidance of doubt, the parties agree that, notwithstanding any provision to the contrary herein, the Purchaser shall not be required to deliver any Forward Purchase Notice or enter into any transaction to purchase any Loan or assume any Available Unfunded Commitment unless the Capital Condition has been satisfied.
Capital Condition. For the avoidance of doubt, the Parties agree that, notwithstanding any provision to the contrary herein, Buyer shall not be required to purchase or assume any Purchased Asset or Assumed Obligation unless and until the earlier of the date on which (a) the Capital Condition is satisfied or (b) Buyer waives the Capital Condition. “Capital Condition” means a condition that shall be satisfied on and after the date on which Buyer (i) receives aggregate subscriptions of $200,000,000 or greater or (ii) provides written notice to Seller that is has been waive.
Capital Condition. At any time following the Grant Date, the “Capital Condition” shall be deemed satisfied with respect to the number of Options equal to the product of (A) the total number of outstanding Options for which the Service Condition has been satisfied as of such time and (B) the lesser of (x) 1 and (y) a fraction, the numerator of which is the aggregate consideration received by the Company for issuance of Shares up to and including the closing of a “Qualified Initial Public Offering” (as defined in the By-Laws of the Company, and such closing, a “Qualified IPO Closing”) and the denominator of which is $1,000,000,000 (such clause B, the “Capital Ratio”).