Second Capital Contribution Clause Samples
The Second Capital Contribution clause defines the terms and conditions under which parties to an agreement are required to make an additional investment or payment of capital after the initial contribution. Typically, this clause specifies the timing, amount, and method for the second round of funding, and may outline the circumstances that trigger this obligation, such as reaching certain project milestones or financial thresholds. Its core practical function is to ensure that sufficient funds are available for the continued operation or development of a venture, thereby addressing potential shortfalls and supporting the project's ongoing financial needs.
Second Capital Contribution. After satisfaction of all of the conditions set forth below, review and approval by AHF of the items described below, and delivery by Wichita GP to AHF of the Second Payment Certificate, but in no event earlier than October 1, 2023, AHF shall make the Second Capital Contribution in the amount of $1,463,319.00, subject to reduction and withholding as provided in Sections 5.1(c) and 5.4 of this Agreement.
Second Capital Contribution. (i) Upon the date that is five (5) Business Days following the achievement of the Second Capital Contribution Conditions (the "SECOND CAPITAL CONTRIBUTION DATE"), E and Q shall (subject to SECTION 2.5 (C)) contribute an amount equal to one-half (50%) of their respective Equity Commitments, less the Subscription Price, and, in the case of Q, less EUR 25,000, and less the Initial Capital Contributions made by them, respectively, prior to such date (the "SECOND CAPITAL CONTRIBUTION"), i.e., in the case of E, EUR 15,086,353.50, and, in the case of Q, EUR 5,002,000.00.
(ii) For the purposes of this Agreement, "SECOND CAPITAL CONTRIBUTION CONDITIONS" means (A) receipt by VentureCo of the Government Investment Grant Approval and (B) the financial ability of E and Q to fund to VentureCo their respective Second Capital Contributions.
Second Capital Contribution. Concurrent with the Third Closing Date, E&W shall contribute to 155 on behalf of the Company all of the gaming assets used in the casino portion of San Remo Hotel & Casino, including all cash, cash equivalents and deposits, which is valued at $5,000,000.00.
Second Capital Contribution