Fig Funds Clause Samples
The "Fig Funds" clause defines the terms and conditions under which funds provided by Fig, typically a financing or investment entity, are managed and utilized within an agreement. This clause outlines how and when Fig will disburse funds, the purposes for which the funds may be used, and any restrictions or reporting requirements associated with their use. For example, it may specify that funds are to be used solely for project development or that disbursements are contingent on meeting certain milestones. The core function of this clause is to ensure transparency and accountability in the handling of Fig's financial contributions, thereby protecting both the investor's interests and the integrity of the funded project.
Fig Funds. Fig shall pay, and Developer agrees to accept, Fig Funds in an amount up to the Maximum Fig Funds, but no less than the Minimum Fig Funds reduced by amounts withheld by Fig pursuant to Section 2.1.1. Fig shall only provide Fig Funds during the Term of the Agreement in amounts mutually agreed to by the Parties with respect to a Licensed Game. The final amount of the Fig Funds will be an amount between the Minimum Fig Funds as reduced above and the Maximum Fig Funds, subject to the terms and conditions of this Agreement, as determined in the discretion of Fig. Any Fig Funds not provided toward the development of a Licensed Game will not be provided to the Developer. Payment of the initial amount of Fig Funds shall be made no later than ten (10) business days of the later of (i) date of the close of the Fig Fundraising and (ii) the selection of the first Licensed Game by the Parties. In the event of multiple closings of the Fig Fundraising, whether in one or distinct offerings, subsequent payments shall be made no later than ten (10) business days of the date of each subsequent closing. Developer shall use the Fig Funds solely for the development, marketing, publishing and operation of each of the Licensed Games. Prior to the Release Date of Licensed Game, and where the Developer requests additional sums from Fig, Fig may pay such additional sums, and these shall be treated as Fig Funds not subject to any Maximum Fig Funds limit.
Fig Funds. Fig shall pay, and ▇▇▇▇▇▇▇▇▇ agrees to accept, Fig Funds in an amount up to the Maximum Fig Funds, but no less than the Minimum Fig Funds reduced by amounts withheld by Fig pursuant to Section 2.1.1. The final amount of the Fig Funds will be an amount between the Minimum Fig Funds as reduced above and the Maximum Fig Funds, subject to the terms and conditions of this Agreement, as determined in the discretion of Fig. Payment of the initial amount of Fig Funds shall be made no later than ninety (90) business days of the date of the close of the Fig Fundraising. In the event of multiple closings of the Fig Fundraising, whether in one or distinct offerings, subsequent payments shall be made no later than ninety (90) business days of the date of each subsequent closing. Developer shall use the Fig Funds solely for the development, marketing, publishing and operation of the Licensed Game. Prior to the Release Date, and where the Developer requests additional sums from Fig, Fig may pay such additional sums, and these shall be treated as Fig Funds not subject to any Maximum Fig Funds limit.
Fig Funds. Fig shall pay to Fig Funds in an amount up to $500,000, no later than 60 days after the successful completion of Developer’s Fig Campaign. As used herein, “Fig Funds” means funds from Fig to be used by Developer in the development, marketing and publishing of the Licensed Game. Fig may pay additional Fig Funds amounts to Developer from time to time prior to the Expected Delivery Date (as defined in Section 4.1).
Fig Funds. Fig shall pay, and ▇▇▇▇▇▇▇▇▇ agrees to accept, Fig Funds in an amount up to the Maximum Fig Funds, but no less than the Minimum Fig Funds reduced by amounts withheld by Fig pursuant to Section 0. The final amount of the Fig Funds will be an amount between the Minimum Fig Funds as reduced above and the Maximum Fig Funds, subject to the terms and conditions of this Agreement, as determined in the discretion of Fig. Payment of the initial amount of Fig Funds shall be made no later than ninety (90) business days of the date of the close of the Fig Fundraising. In the event of multiple closings of the Fig Fundraising, whether in one or distinct offerings, subsequent payments shall be made no later than ninety (90) business days of the date of each subsequent closing. Developer shall use the Fig Funds solely for the development, marketing, publishing and operation of the Licensed Game. Prior to the Release Date, and where the Developer requests additional sums from Fig, Fig may pay such additional sums, and these shall be treated as Fig Funds not subject to any Maximum Fig Funds limit. Developers covenants to use approximately $15,000 of Fig Funds toward marketing the Licensed Game. Amounts Withheld. Developer agrees that Fig will retain from the payment of the Fig Funds an amount equal to the Fig Service Fee multiplied by the Fig Funds, plus (y) any Developer-approved marketing and other expenses that have been paid for by Fig and (z) any taxes to be withheld by Fig as required by law. All such expenses described in clause (y) in the preceding sentence are subject to the prior written approval of Developer in each instance.
Fig Funds. Fig shall pay, and Developer agrees to accept, Fig Funds in an amount, up to the Maximum Fig Funds, but no less than the Minimum Fig Funds, less Fig Funds Withheld (as defined below) which may also include tax payments, the initial amount no later than ninety (90) Business Days of the date of this Agreement. As used herein, “Fig Funds” means funds from Fig to be used by Developer in the development, marketing, publishing and sale of the Licensed System and related assets. Prior to the Anticipated Release Date, and where the Developer requests additional sums from Fig, Fig may pay such additional sums, and these shall also be treated as Fig Funds, not subject to any Maximum Fig Funds limit.