Common use of Participants' Initial Contributions Clause in Contracts

Participants' Initial Contributions. The initial Participating Interests of the parties are as set forth in Section 6.1. Upon Stirrup Creek completing the expenditure contemplated by subsection 3.1(c) the agreed value of each party's Initial Contribution will be $300,000 for Stirrup Creek and $100,000 for Forefront and the receipt by the Venture of the Initial Contribution of each Participant shall thereupon be deemed to be acknowledged by the parties hereto.

Participants' Initial Contributions. The initial Participating Interests of the parties are as set forth in Section 6.1. Upon Stirrup Creek completing the expenditure contemplated by subsection 3.1(csubparagraph 3.1c) the agreed value of each party's Initial Contribution will be $300,000 for Stirrup Creek and $100,000 for Forefront 150,000 and the receipt by the Venture of the Initial Contribution of each Participant shall thereupon be deemed to be acknowledged by the parties hereto.