Funding of the Company. 9.1 Continental having completed its investment into the Company in connection with the First Option or Second Option (as the case may be) as provided in the Option Agreement, the Board may from time to time by simple majority resolution determine that the Company requires additional funding in accordance with a Company Annual Budget having been approved by the Board. The then Shareholders of Company shall have first right to supply such additional funding.
Funding of the Company. As a means to finance the operations of the Company without contributing to, changing or otherwise affecting the Unit capital of the Company, the Unitholders and the Board, via majority approval, respectively, may require the Unitholders to provide intercompany loans to the Company from time to time in amounts proportionate to each Unitholder’s Unitholder Interest (each, a “Cash Call”). The terms and conditions of each Cash Call and related intercompany loans must be unanimously approved by the Unitholders and the Board. The Chairman shall propose the due dates for payment of Cash Calls and purposes of use of respective Cash Calls, including funding the Company’s operations and the general administrative expenses of the Company.
Funding of the Company. 1.1 Funding for the Company will be provided to the Company by each of the Home Authorities as follows.
Funding of the Company. 11.1 The obligation of the Parties in respect of the future funding (including, but not limited to, Operating Costs, Capital Costs and other costs) of the Company, Kibali and/or the Project shall be pro-rata in proportion to their respective Percentage Interests in the Company at the time any such future funding is required.
Funding of the Company. 6.1 Subject always to the restrictions imposed by clause 7, the funding requirements of the Company shall be determined by the Board, from time to time, and shall:
Funding of the Company. M-I and MCA agree to fund the Company by making loans to the Company in proportion to their equity interest when required by the Company following unanimous approval of the Management Committee. All such loans shall bear interest at an annual percentage rate of five percent (5%) or One-Year London Inter-Bank Offer Rate (LIBOR) plus two percent (2%), whichever is the higher, payable quarterly until repaid in full. In no case shall MCA, AC and M-I together be required to loan more than US$1,000,000 to the Company in any one calendar year. Neither MCA nor AC together nor M-I individually shall be expected to extend loans to the Company such that the total outstanding loan exceeds US$2,000,000 each. The Company's initial funding will be governed by the terms of the Funding Agreement, attached hereto as Exhibit A. All fees and expenses related to the Funding Agreement shall be paid for by the Company.
Funding of the Company. Immediately after the Closing, Xxxxx 0 shall ---------------------- provide the Company with $12,000,000 in the form of a capital contribution or a long-term loan.
Funding of the Company. 5.1 Further Funding of the Company The Shareholders agree to procure that, as the Business of the Company develops, the cash requirements of the Company for its day-to-day operations shall be met to the greatest extent possible from its paid-in share capital and operating cash flow, but that if additional funding is required, it shall, subject to obtaining the necessary approvals pursuant to this Agreement and the Articles, be obtained in accordance with the following priorities, unless otherwise agreed in writing by the Parties:
Funding of the Company. A. After Closing, the Purchaser will have a controlling interest in the Company , and the Company will be a majority-owned subsidiary of Purchaser. Purchaser shall provide capital of up to $300,000 to be used as working capital of the Company. Such contributions shall treated as loans for accounting purposes.
Funding of the Company. Unless otherwise determined by the Board, the funds required by the Company shall be provided first, by the Company's cash flow, secondly, by external borrowings in accordance with Clause 9.3, thirdly, by shareholders loans and lastly, by the issue of additional share capital. The additional share capital shall either be equity or preference. The debt-equity ratio shall be determined by the Board from time to time. If further funding is required, the Shareholders shall provide such further funding pro rata on the basis of their respective shareholding in the Company.
