SUBSEQUENT INTEREST AND FUNDING Sample Clauses

SUBSEQUENT INTEREST AND FUNDING. Should GRAPH-TECH make a Development Decision, GRAPH-TECH shall be entitled to and Mazarin shall hold in escrow for subsequent transfer to GRAPH-TECH an additional thirty-five percent (35%) interest (the "Subsequent Interest") in the Vehicle. The parties shall use a method of transfer having regard to the tax implications to GRAPH-TECH and Mazarin. Mazarin shall forthwith transfer an additional share of the Subsequent Interest to GRAPH-TECH in consideration for each of GRAPH-TECH'S Remaining Equity Financing (as defined below) contributions and in proportion to the amount of each such contribution relative to GRAPH-TECH's portion of the Remaining Equity Financing. For purposes of the transfer of the Subsequent Interest, GRAPH-TECH'S portion of the Remaining Equity Financing shall be that amount established in the feasibility study. Any cost overruns which require additional equity financing shall be split by the parties on a 60% GRAPH-TECH /40% Mazarin basis as set out below. The parties will be responsible for providing in the form of equity contributions, and in accordance with the development budget and timetable, the remainder of the financing (the "Remaining Equity Financing" or "REF") required for the capital requirements and other GRAPH-TECH Equity Financing = ((PDEC+ REF) X 60%)) - GTPDEC Mazarin Equity Financing = (PDEC + REF) X 40%)) - MZPDEC PDEC = GTPDEC + MZPDEC REF = Remaining Equity Financing GTPDEC = GRAPH-TECH Pre-Development Decision Equity Contribution (net of grants and subsidies actually received by GRAPH-TECH. Total GTPDEC to be capped at $3,000,000.00 and to exclude all costs for research and testing in GRAPH-TECH facilities not related to testing graphite from the Deposit) MZPDEC = Mazarin Pre-Development Decision Equity Contribution = $6,000,000.00 By way of example, based on current estimates of the required Remaining Equity Financing (presently estimated to be $24 million) the party's obligations and ownership interest in the Vehicle would be as follows: Remaining Equity Total Equity Final Ownership Shareholder PDEC Financing (REF) Contributed Interest ----------- ---- --------------- ----------- -------- Mazarin $6 million $7.2 million $13.2 million 40% GRAPH-TECH $3 million $16.8 million $19.8 million 60%
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Related to SUBSEQUENT INTEREST AND FUNDING

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Simple Interest Mortgage Loans None of the Mortgage Loans are simple interest Mortgage Loans.

  • Interest and Interest Rate (a) The Designated Securities will bear interest from April [•], 2010 or from the most recent date through which the Issuer has paid or provided for interest on the Designated Securities at an annual rate of 3.729%.

  • Repayment of Interest and Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Date and Denomination of Notes; Payments of Interest and Defaulted Amounts (a) The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of such Note. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

  • Interest and Interest Rates The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto.

  • Interest and Principal The Notes will mature on July 1, 2022 and will bear interest at the rate of 4.625% per annum. The Issuers will pay interest on the Notes on each January 1 and July 1 (each an “Interest Payment Date”), beginning on January 1, 2016, to the Holders of record on the immediately preceding December 15 or June 15 (each a “Record Date”), respectively. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance. Payments of the principal of and interest on the Notes shall be made in Dollars, and the Notes shall be denominated in Dollars.

  • Payment of Interest and Principal The principal of and interest on this Revolving Credit Note shall be due and payable as provided in the Loan Agreement. Subject to the terms of the Loan Agreement, the principal and interest due hereunder shall be evidenced by the Administrative Agent’s and the Lender’s records which, absent manifest error, shall be conclusive evidence of the computation of principal and interest balances owed by the Borrowers to the Lender.

  • Interest Amount Unless otherwise specified in Paragraph 13 and subject to Paragraph 4(a), in lieu of any interest, dividends or other amounts paid or deemed to have been paid with respect to Posted Collateral in the form of Cash (all of which may be retained by the Secured Party), the Secured Party will Transfer to the Pledgor at the times specified in Paragraph 13 the Interest Amount to the extent that a Delivery Amount would not be created or increased by that Transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed to be a Valuation Date for this purpose). The Interest Amount or portion thereof not Transferred pursuant to this Paragraph will constitute Posted Collateral in the form of Cash and will be subject to the security interest granted under Paragraph 2.

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

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