Third Contribution definition
Examples of Third Contribution in a sentence
In exchange for the Third Contribution, Parent Acquisition shall issue to Parent Holdings 100% of its membership interests.
Upon the Third Contribution, Parent Holdings shall be admitted as the sole member of Parent Acquisition.
For the avoidance of doubt, during the period from the Execution Date through the Third Contribution Installment Date, allocations shall be made in accordance with Percentage Interests even though the relative capital contributions of the Members through that date have not been in proportion to Percentage Interests.
As a condition to the receipt of the entirety of the Pledged Gift the Town must solicit or otherwise obtain additional funding for the Project in the in the amount of Two Million Dollars and No Cents ($2,000,000.00) in good funds (the “Remaining Building Funds”) on or before the Third Contribution Date.
Provided that POS-Minerals makes the Third Contribution Installment or the Initial Catch-Up Contribution, on the Third Contribution Installment Date the amount of such Third Contribution Installment and the amount of the Initial Catch-Up Contribution shall be applied by the Company to repay to Nevada Moly the amount of any Pre-RD Advances made by Nevada Moly.
The “Unpaid Contribution Amount” shall mean, for each Member, (i) with respect to POSCO, if the Third Contribution Conditions have not yet been satisfied and the Third Contribution Deadline has not yet occurred, the amount of the Third Contribution Installment and the Catch-Up Contribution (each determined based upon the circumstances then existing) and (ii) any other capital contribution that is then due and owing by such Member but has not been paid.
POS-Minerals may waive in writing any of the Third Contribution Conditions in its sole discretion.
The remaining monetary obligation of $300,000.00, the Third Contribution, will be paid into the Settlement Fund within five (5) days of the Effective Date.
In accordance with section 5.1 below and within 30 calendar days of the First Year End and the Second Year End, respectively, the Board of Directors shall approve a budget for the Second Year and Third Year, respectively, and the total sum of each budget, being the Second Contribution and the Third Contribution, shall be the amount required to be raised by MIV for the applicable ensuing year, up to a total sum of U.S. $2,500,000 prior to the Third Year End.
If MIV raises the full First Contribution, Second Contribution or Third Contribution, or any of them, as the case may be, then, for the year relating to the full Contribution so made, MIV shall not be subject to dilution for the said year in which the full Contribution was raised.