Second Equity Capital Contribution definition
Examples of Second Equity Capital Contribution in a sentence
NHC shall notify Investor in writing at the time and in the manner provided in Section 2.7 hereof as to (A) the number and type of Turbines, and the nameplate rated capacity of such Turbines in megawatts, that will be Placed in Service on or prior to the Second Equity Capital Contribution Date, and (B) a computation of the Second Equity Capital Contribution Amount.
The Required Reserves shall initially be funded upon the Second Equity Capital Contribution Closing in an aggregate total amount of $*****, must total such amount upon the close of business on December 31, 2009, and must total $***** immediately following the first Special Funded Distribution Date and the making of such first Special Funded Distribution.
The O&M Reserve shall be funded upon the Second Equity Capital Contribution Closing in the amount of $***** with proceeds of the Second Equity Capital Contribution, and shall be in an amount of not less than $***** upon the close of business on December 31, 2009.
If, as of the Second Equity Capital Contribution Date, fewer than 100% of the Turbines have been Placed in Service, then, upon the satisfaction or waiver of the conditions set forth in Section 2.8, the Investor shall make a Third Equity Capital Contribution.
Prior to the Second Equity Capital Contribution, the consent of a Class B Member with respect to a requested Major Decision shall not be unreasonably withheld.
The Second Equity Capital Contribution to be made by the Investor upon the Second Equity Capital Contribution Date shall be in the Second Equity Capital Contribution Amount.
Upon the occurrence of a Second Equity Capital Contribution and if applicable, a Third Equity Capital Contribution, then the Capital Account of each Class B Member will be increased by the amount of Capital Contributions made by such Class B Member on the Closing Date of each such Capital Contribution.
The SCPPA Cost Reserve will be established as a sub-account of the O&M Reserve upon the Second Equity Capital Contribution Date (if all required consents to the establishment of such sub-account under the Existing Financing Credit Agreement have been obtained.
Subject to the terms and conditions in this Contribution Agreement, on the Second Equity Capital Contribution Date, Investor shall deliver to the Company, by wire transfer to such account or accounts as NHC may designate in a written notice given to Investor no later than 5 Business Days before the Second Equity Capital Contribution Date, an amount equal to the Second Equity Capital Contribution Amount.
Notwithstanding anything to the contrary in this ARTICLE VI, no distribution shall be made to any of the Members prior to the earlier of (i) January 31, 2010, and (ii) the date on which the Class B Member makes the Second Equity Capital Contribution to the Company.