Project Contributions definition
Examples of Project Contributions in a sentence
If StadCo collects any liquidated damages from the Design Builder or such other contractor or pursuant to the Design-Build Agreement or such other contract, as applicable, for a delay in achieving Substantial Completion of the Project Improvements Work, then StadCo will promptly (and in no event within less than five (5) days after receipt thereof) pay to the Authority such liquidated damages in the same proportion as the Authority Contribution Amount bears to the aggregate of the Project Contributions.
Upon the payment of any Project Contribution by or on behalf of a Participant after the fifteen (15) day cure period with respect thereto has expired, IID shall promptly refund to every other Participant an amount equal to the total of any Project Contributions which it made as a result of the failure of such Project Contribution to be made by the end of the fifteen (15) day cure period, plus interest calculated as provided herein.
In computing the total amount of Project Contributions made by a Participant, there shall be a deduction for any amounts received by such Participant from payments made by an Additional Participant pursuant to Section 8.02, as modified by this paragraph (a).
Any fee paid by a Participant or its Affiliate to an investment banking or other firm for arranging financing for such Participant's Project Contributions as well as other financing required by such Participant or its Affiliate shall, for purposes of this paragraph (c), be allocated to such Participant's Project Contributions on a pro rata basis, in proportion to the relative magnitude of such Project Contributions and other financing.
Notwithstanding any other provision of this Agreement, in no event shall any Participant be required to make any Project Contribution after the cumulative total of Project Contributions made by or on behalf of that Participant equals PS(i) TB x ----- x 1.2 100% where TB is the Total Budget as of the date of this Agreement and PS(i) is the Project Share of that Participant.