Contribution Demand definition

Contribution Demand has the meaning set out in Section 8.2;
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Examples of Contribution Demand in a sentence

  • The interest shall begin to accrue as of the date of the Contribution Demand Notice.

  • A Shareholder which fails to give that notice within the 30 day period will be deemed to have elected not to contribute to that Contribution Demand.

  • The Contribution Demand Notice shall set forth the aggregate amount of the Payment and the Required Contribution Amount.

  • In the event however, that a Funding Contribution Demand is made to the Shareholders, the ownership interest shall not be adjusted until the period in which the Contribution Demand subject to Section 9.6.2 herein has expired.

  • All amounts owing under this Agreement will bear interest from the date accrued (by Payment by a Guarantor in connection with such Guarantor’s Guaranty) until paid (and without regard to the date any Contribution Demand Notice is given so long as the giving of such notice is not unreasonably delayed to the material prejudice of the recipient) at a rate equal to the lesser of ten (10) percent per annum or the highest rate permitted by applicable law.

  • Subject to Section 9.6, each Shareholder shall, not later than 1:00 p.m. (Pacific time) on the due date for each Contribution Demand, contribute or cause to be contributed to JVC the funds (in US$ and in the manner specified in the Contribution Demand) which it is required to contribute or cause to be contributed as provided herein.

  • If any Guarantor fails to pay a Required Contribution Amount owed by such Guarantor within five days from the date of receipt of a Contribution Demand Notice, such Guarantor shall be deemed to be a "Defaulting Guarantor." The Defaulting Guarantor shall pay interest on the Required Contribution Amount to the Paying Guarantor at a rate equal to the lesser of (i) the Prime Rate [(as defined in the Loan Agreement)] plus two percent (2%), and (ii) the highest rate permitted by law.

  • Each Shareholder may, within 30 days of receipt of the Contribution Demand, give notice to the Operator committing to contribute its Proportionate Share of the Expenditures for that Work Program and Budget.

  • The Contributing Guarantors shall pay their applicable Required Contribution Amount to the Paying Guarantor(s) within five days of receipt of a written demand for contribution of the Required Contribution Amount (the "Contribution Demand Notice").