Common use of Newco Contribution Clause in Contracts

Newco Contribution. (a) Formation has agreed pursuant to the Term Sheet to make an equity contribution to Newco in an amount equal to $50,000,000 (the "Newco Contribution"). Formation and SCH hereby agree that SCH shall contribute the amounts set forth in Exhibit B attached hereto and such amount shall be applied by FC BEV to the Newco Contribution. (b) The parties acknowl▇▇▇e that the amounts used to fund SCH's contribution as set forth in Exhibit B (the "SCH Contribution") do not need to be provided from SCH's own resources and that SCH may raise the necessary equity to fund the SCH Contribution in such manner as it deems necessary and appropriate. Any preferred returns, promotes, fees or other amounts payable to SCH by any party that agrees to contribute a portion of the SCH Contribution in connection with such capital raising activities shall remain the exclusive property of SCH and Formation shall not have any claim to such preferred returns or fees. (c) The parties acknowledge that the amounts used to fund the remaining portion of the Newco Contribution (the "Formation Contribution") do not need to be provided from Formation's own resources and that Formation may raise the necessary equity to fund the Formation Contribution in such manner as it deems necessary and appropriate. Any preferred returns, promotes, fees or other amounts payable to Formation by any party that agrees to contribute a portion of the Formation Contribution in connection with such capital raising activities shall remain the exclusive property of Formation and SCH shall not have any claim to such preferred returns or fees. (d) Notwithstanding anything herein to the contrary, each party's obligation to fund the Newco Contribution is conditioned upon mutual agreement between the parties as to all economic terms of the Beverly transaction. The parties acknowledge and agree that the▇ ▇▇▇▇ previously agreed to the economic terms set forth in the Term Sheet.

Newco Contribution. (a) Formation has agreed pursuant to the Term Sheet to make an equity contribution to Newco in an amount equal to $50,000,000 (the "Newco Contribution"). Formation and SCH Northbrook hereby agree that SCH shall contribute the to provide equal amounts set forth in Exhibit B attached hereto and such amount shall be applied by of $25,000,000 each to FC BEV to for the purpose of funding the Newco Contribution. Such cont▇▇▇utions shall be in exchange for identical interests in FC BEV calculated on a pro rata basis, except as provided herein. (b) The parties acknowl▇▇▇e acknowledge that the amounts used to fund SCHNorthbrook's contribution as set forth in Exhibit B portion of the Newco Contribution (the "SCH Northbrook Contribution") do not need to be provided from SCHNorthbrook's own resources and that SCH Northbrook may raise the necessary equity to fund the SCH Northbrook Contribution in such manner as it deems necessary and appropriate. Any preferred returns, promotes, fees or other amounts payable to SCH Northbrook by any party that agrees to contribute a portion of the SCH Northbrook Contribution in connection with such capital raising activities shall remain the exclusive property of SCH Northbrook and Formation shall not have any claim to such preferred returns or fees. (c) The parties acknowledge that the amounts used to fund the remaining Formation's portion of the Newco Contribution (the "Formation Contribution") do not need to be provided from Formation's own resources and that Formation may raise the necessary equity to fund the Formation Contribution in such manner as it deems necessary and appropriate. Any preferred returns, promotes, fees or other amounts payable to Formation by any party that agrees to contribute a portion of the Formation Contribution in connection with such capital raising activities shall remain the exclusive property of Formation and SCH Northbrook shall not have any claim to such preferred returns or fees. (d) In the event Newco requires an equity contribution greater than $50,000,000 from FC BEV and Formation agrees to contribute such amount, Northbro▇▇ shall have the right to participate pari passu with Formation. (e) Notwithstanding anything herein to the contrary, each party's obligation to fund the Newco Contribution is conditioned upon mutual agreement between the parties as to all economic terms of the Beverly transaction. The parties acknowledge and agree that the▇ ▇▇▇▇ previously agreed to the economic terms set forth in the Term Sheet.Sheet attached hereto as Exhibit A.