Obligation to Fund Sample Clauses
The Obligation to Fund clause establishes a party's duty to provide specified funds under certain conditions outlined in the agreement. Typically, this clause details when and how much funding must be provided, such as requiring a lender to disburse loan proceeds upon the borrower meeting all preconditions. Its core practical function is to ensure that the necessary financial resources are made available as agreed, thereby supporting the transaction's execution and reducing uncertainty for all parties involved.
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Obligation to Fund. The Agreement of the Company (or its successor) to make payments to the Executive hereunder shall represent solely the unsecured obligation of the Company (and its successor), except to the extent the Company (or its successor) in its sole discretion elects in whole or in part to fund its obligations under this Agreement pursuant to a trust arrangement or otherwise.
Obligation to Fund. The Parties acknowledge and agree that in order to be fully successful each NPI District, in addition to the TIR, will require a reliable and consistent funding source. To that end, the County hereby commits the Granted Revenues annually for the Term (as hereinafter defined) of each NPI District. Likewise, the City of Portland (the “City”) has agreed to provide PDC with an annual grant equal to the amount of its annual share of tax revenues for each NPI District realized as a result of ORS 457.470(4) (the “City’s Granted Revenues”) for the Term of each NPI District. In the event that the City fails to grant PDC any of the City’s
Obligation to Fund. Investor acknowledges and agrees that the purchase of the Initial Shares at the Initial Closing shall obligate Investor, absolutely and unconditionally, to purchase all of the Subsequent Shares at each Subsequent Closing as set forth on SCHEDULE 1 hereto.
Obligation to Fund. Anything in this Agreement to the contrary notwithstanding, the obligation of the Issuing Banks to continue making Loans within the Commitment shall terminate upon the Expiration Date, upon the occurrence of an Event of Default described in Section 8.1(iii) and, at the option of the Administrative Agent in accordance with Section 8.2, if an Event of Default has occurred and is continuing. If an Event of Default shall occur, the Administrative Agent may, as a condition to providing a waiver of such Event of Default, require an amendment or modification of this Agreement to increase the interest rates, as shall be determined by the Administrative Agent in its reasonable discretion; provided that nothing contained herein or elsewhere will be deemed to require the Administrative Agent to provide such waiver on any terms.
Obligation to Fund. Notwithstanding any provision to the contrary contained herein, no later than the date of a Change of Control, the Bank shall fund a "Rabbi Trust" (as such term is described in Revenue Procedure 92-64) in the amount of the payment required under Section 4.4.2, with the trustee of such trust being designated by the Board in its sole and absolute discretion.
Obligation to Fund. In the event a Change in Control occurs, the performance of Employer’s obligations under this Section 14.2 will be secured by amounts deposited or to be deposited in a trust, an escrow account, or a separate account, as determined by the Compensation Committee of the Board in its reasonable judgment. Any failure by Employer to satisfy any of its obligations under this Section 14.2.5 will not limit the rights of Employee hereunder. Subject to the foregoing, Employee will have the status of a general unsecured creditor of Employer and will have no right to, or security interest in, any assets of Employer.
Obligation to Fund. If, for any respective month, funds in the Property Account are not sufficient to cover expenses specified in the approved Operating Plan or to be disbursed pursuant to Section 3.10 or Section 4.1 or 4.2, or those which have been approved in writing by Owner, Owner shall, within ten (10) days after receipt of written notice from Property Manager of the amount of the estimated insufficiency, deposit in the applicable Project Account an amount equal to such estimated shortfall. Manager shall have no liability whatsoever to fund the deficiency.
Obligation to Fund. The Bank shall not be obligated to fund all or any portion of the Loan unless and until the following conditions have been satisfied:
Obligation to Fund. Upon written notice by the Company pursuant to Section 1.7 hereof to borrow, and so long as no Event of Default has occurred and is continuing, Guidant shall have the absolute obligation to fund the Loan on the Disbursement Date in the amount requested in the Borrowing Notice.
Obligation to Fund. The closing of the Purchasers' investment in WTM on the terms provided in the Subscription Agreement and in this Term Sheet and their obligations to fund their commitments as provided therein and herein will be subject only to the completion of the Transactions, including the closing of the acquisition of CGU pursuant to the terms and conditions of the Stock Purchase Agreement, the consummation of Financing on the terms and conditions set forth in the Commitment Letter and the delivery by WTM of Preferred Stock and of a Shareholders Agreement executed by WTM, in each case reasonably reflecting the terms of this term sheet. The Stock Purchase Agreement and the Commitment Letter will not be amended and the closing conditions contained therein will not be waived in any material respect without the consent of each of the Purchasers.