Additional Funding Instruments. The Borrower acknowledges to the Lender that the Subscribers have executed Additional Funding Instruments requiring the contribution from time to time of, in the aggregate, up to Eight Million and No/100 Dollars ($8,000,000) in cash to the Borrower's capital upon demand of the Board of Directors of Borrower as described below. Prior to the Initial Advance, the Borrower will, through its Board of Directors, make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of such demand and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of such demand ("Initial Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no Initial Advance will be made to the Borrower pursuant to this Agreement unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Initial Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Four Million and No/100 Dollars ($4,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Secondary Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Four Million and No/100 Dollars ($4,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Secondary Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Eight Million and No/100 Dollars ($8,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which
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Additional Funding Instruments. The Borrower acknowledges to the Lender that the Subscribers have executed Additional Funding Instruments requiring the contribution from time to time of, in the aggregate, up to Eight Million and No/100 Dollars ($8,000,000) in cash to the Borrower's capital upon demand Section 7.1.7 of the Board of Directors of Borrower as described below. Prior to Credit Agreement is amended by adding at the Initial Advance, end thereof the following: "Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Twenty-Eight Million and No/100 Dollars ($28,000,000) or would exceed such amount if a requested Advance was made. In such event, the Board of Directors of Borrower shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that of Borrower owned by Subscriber owns as of the date of such demand the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock of Borrower as of the date of such demand the Assessment Determination ("Initial Fifth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no Initial additional Advance will be made to the Borrower pursuant to this Agreement which would increase the aggregate unpaid principal and interest on the Loan above Twenty-Eight Million and No/100 Dollars ($28,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Initial Fifth Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Four Thirty-Two Million and No/100 Dollars ($4,000,00032,000,000) or would exceed such amount if a requested Advance were was made. In such event, the Borrower's Board of Directors of Borrower shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that of Borrower owned by Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock of Borrower as of the date of the Assessment Determination ("Secondary Sixth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that which would increase the aggregate unpaid principal and interest on the Loan above Four Thirty-Two Million and No/100 Dollars ($4,000,00032,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Secondary Sixth Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Eight Thirty-Six Million and No/100 Dollars ($8,000,00036,000,000) or would exceed such amount if a requested Advance were was made. In such event, the Borrower's Board of Directors of Borrower shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that of Borrower owned by Subscriber owns as of the date of the Assessment Determination and the denominator of whichwhich is the number of outstanding shares of common stock of Borrower as of the date of the Assessment Determination ("Seventh Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to Borrower pursuant to this Agreement which would increase the aggregate unpaid principal and interest on the Loan above Thirty-Six Million and No/100 Dollars ($36,000,000) unless and until each Subscriber has contributed cash to Borrower in an amount equal to such Subscriber's Seventh Equity Shortfall Share."
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Additional Funding Instruments. The Borrower acknowledges to the Lender that the Subscribers have contributed (or have executed Additional Funding Instruments subscription agreements requiring the immediate contribution from time to time of), in the aggregate, up to Eight Three Million and No/100 Dollars ($8,000,0003,000,000) in cash to the capital of Borrower's capital upon demand of the Board of Directors of Borrower as described below. Prior to the Initial Advance, the Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Twelve Million and No/100 Dollars ($12,000,000) or would exceed such amount if a requested Advance was made. In such event, the Board of Directors of Borrower shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that of Borrower owned by Subscriber owns as of the date of such demand the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock of Borrower as of the date of such demand the Assessment Determination ("Initial Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no Initial additional Advance will be made to the Borrower pursuant to this Agreement which would increase the aggregate unpaid principal and interest on the Loan above Twelve Million and No/100 Dollars ($12,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Initial Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Four Sixteen Million and No/100 Dollars ($4,000,00016,000,000) or would exceed such amount if a requested Advance were was made. In such event, the Borrower's Board of Directors of Borrower shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that of Borrower owned by Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock of Borrower as of the date of the Assessment Determination ("Secondary Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that which would increase the aggregate unpaid principal and interest on the Loan above Four Sixteen Million and No/100 Dollars ($4,000,00016,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Secondary Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Eight Million and No/100 Dollars ($8,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which.
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Additional Funding Instruments. The Borrower acknowledges to the Lender that that, prior to the Initial Advance, the Subscribers have contributed (or executed Additional Funding Instruments subscription agreements requiring the immediate contribution from time to time of), in the aggregate, up to Eight Three Million and No/100 Dollars ($8,000,0003,000,000) in cash to the Borrower's capital upon demand of the Board of Directors of Borrower as described belowcapital. Prior to the Initial Advance, the The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Twelve Million and No/100 Dollars ($12,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of such demand the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of such demand the Assessment Determination ("Initial Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no Initial additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Twelve Million and No/100 Dollars ($12,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Initial Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Four Sixteen Million and No/100 Dollars ($4,000,00016,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Secondary Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Four Sixteen Million and No/100 Dollars ($4,000,00016,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Secondary Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Eight Twenty Million and No/100 Dollars ($8,000,00020,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of whichwhich is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Third Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Twenty Million and No/100 Dollars ($20,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Third Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Twenty-Four Million and No/100 Dollars ($24,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Fourth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Twenty-Four Million and No/100 Dollars ($24,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Fourth Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Twenty-Eight Million and No/100 Dollars ($28,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Fifth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Twenty-Eight Million and No/100 Dollars ($28,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Fifth Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Thirty-Two Million and No/100 Dollars ($32,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Sixth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Thirty-Two Million and No/100 Dollars ($32,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Sixth Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Thirty-Six Million and No/100 Dollars ($36,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Seventh Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Thirty-Six Million and No/100 Dollars ($36,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Seventh Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Forty Million and No/100 Dollars ($40,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Eighth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Forty Million and No/100 Dollars ($40,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Eighth Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Forty-Four Million and No/100 Dollars ($44,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) One Million and No/100 Dollars ($1,000,000) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Ninth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Forty-Four Million and No/100 Dollars ($44,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Ninth Equity Shortfall Share. The Borrower will, through its Board of Directors, make an Assessment Determination at that point in time when the aggregate of the accrued but unpaid interest and the unpaid principal balance of the Loan first equals Forty-Eight Million and No/100 Dollars ($48,000,000) or would exceed such amount if a requested Advance were made. In such event, the Borrower's Board of Directors shall make written demand upon each Subscriber to contribute to the Borrower cash in an amount equal to the product realized by multiplying (i) Forty-One Thousand Six Hundred Sixty-Six and 50/100 Dollars ($41,666.50) by (ii) a fraction, the numerator of which is the number of shares of the Borrower's common stock that Subscriber owns as of the date of the Assessment Determination and the denominator of which is the number of outstanding shares of the Borrower's common stock as of the date of the Assessment Determination ("Tenth Equity Shortfall Share"). Notwithstanding anything to the contrary contained in this Agreement, no additional Advance will be made to the Borrower pursuant to this Agreement that would increase the aggregate unpaid principal and interest on the Loan above Forty-Eight Million and No/100 Dollars ($48,000,000) unless and until each Subscriber has contributed cash to the Borrower in an amount equal to such Subscriber's Tenth Equity Shortfall Share.
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