Closing Contribution definition

Closing Contribution means Ninety Million Dollars ($90,000,000) less any Permitted Contributions. Notwithstanding the foregoing, if BCNEPA’s RBC as of the date set forth in the certificate required to be delivered at the Closing under Section 5.3(c) is or would be less than 375% after giving effect to the amount BCNEPA intends to contribute pursuant to Section 3.1(c)(v) (together with any previous or contemporaneous Permitted Contributions), the amount of the Closing Contribution shall be reduced by such amount as shall be necessary to cause BCNEPA’s RBC as of such date to be increased to 375%, provided, however, that in no event shall the sum of the Closing Contribution and any Permitted Contribution be reduced to less than
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Closing Contribution has the meaning set forth in Section 6.1(b).
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Closing Contribution is an amount equal to (i) $11,500,000, (ii) minus the Base Amount and (iii) plus the Estimated Working Capital Shortfall (if any) or minus the Estimated Working Capital Excess (if any).
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Examples of Closing Contribution in a sentence

  • As of the Closing Date, the interest of the Organizational Limited Partner shall be redeemed as provided in the Closing Contribution Agreement; the initial Capital Contributions of the Organizational Limited Partner shall thereupon be refunded; and the Organizational Limited Partner shall cease to be a Limited Partner of the Partnership.

  • For the avoidance of doubt, the remedies described in this Section 3.2.1(d) shall be the Non-Defaulting Member’s and the LLC’s sole and exclusive remedies against the Defaulting Member with respect to such Defaulting Member’s failure to fund a Closing Contribution.

  • The Closing Contribution Cash Consideration shall be subject to adjustment following the Closing in accordance with Section 2.3.

  • As of the Closing Date, the interest of the Organizational Limited Partner shall be redeemed as provided in the Closing Contribution Agreement; the initial Capital Contributions of each Partner shall thereupon be refunded; and the Organizational Limited Partner shall cease to be a Limited Partner of the Partnership.

  • On November 3, 2004, Shipping Master contributed to the Company its interests in Transport, Chemical Transport and Vessel Management (each term as defined in the Closing Contribution Agreement).

  • If, after the Seller closes the books of the UrbanNet Business as of the First Closing Date, either or both of the actual UrbanNet Closing Contribution Amount and UrbanNet Closing Distribution Amount are different from those amounts set forth in the certificate delivered to Buyer prior to the First Closing Date, then appropriate adjustment payments shall be made promptly by Buyer to Seller or by Seller to Buyer, as the case may be.

  • The consummation of the Closing Contribution (the “Closing”) will take place as soon as practicable but in any event not later than the third Business Day following the date on which the last of the conditions set forth in Section 9 has been satisfied or waived (other than those conditions that by their nature can only be satisfied at the Closing, but subject to the satisfaction or waiver of such conditions), or at such other time and place as ▇▇▇▇ III OP and the Sponsors may agree in writing.

  • At least one Business Day prior to the Inland PSA Closing Date, each Member shall make a Capital Contribution equal to its Inland PSA Closing Contribution Percentage of (i) the Inland PSA Closing Required Funds, minus (ii) the amount of the Inland PSA Closing Required Funds to be paid by OpCo (all as reasonably calculated by NS Managing Member).

  • The Closing Contribution may not be fully agreed to as of the Agreement Date because the transaction has not developed sufficiently to arrive at a firm estimate of future stewardship needs.

  • For the avoidance of doubt, MHR shall be entitled to make a MHR Catch-Up Contribution in respect of the MSI November Contribution, but MHR shall not be entitled to make a MHR Catch-Up Contribution in respect of the MSI Interim Closing Contribution.


More Definitions of Closing Contribution

Closing Contribution is an amount equal to (i) the Closing Cash Contribution, (ii) minus the Base Amount, and (iii) plus the product of the Enrollment Shortfall Amount (if any) times $10,000 per student.
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Closing Contribution means the Contribution described in clause (ii) of the definition of such term.
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Related to Closing Contribution

  • Cash Contribution refers to a direct payment of Contribution in Canadian currency.

  • Qualifying contribution means, with respect to a

  • Initial Contribution means that contribution each Participant has made or agrees to make pursuant to Section 5.1.

  • Defined Contribution Plan A retirement plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant's account, and any income, expenses, gains and losses, and any forfeitures of accounts of other participants which the plan may allocate to such participant's account. The Advisory Committee must treat all defined contribution plans (whether or not terminated) maintained by the Employer as a single plan. Solely for purposes of the limitations of Part 2 of this Article III, the Advisory Committee will treat employee contributions made to a defined benefit plan maintained by the Employer as a separate defined contribution plan. The Advisory Committee also will treat as a defined contribution plan an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer and, for taxable years ending after December 31, 1985, a welfare benefit fund under Code Section 419(e) maintained by the Employer to the extent there are post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)).

  • Company Contribution means that portion of the main extension costs which the Company will fund based upon the following formula: