Agreement to Contribute Capital. The Members agree to make their respective Capital Contributions on or before the Closing of the Property. In the event additional capital is required by the Company, the Manager shall, in its sole discretion, take one or more of the following actions:
(i) cause the Company to obtain such additional funds from the Preferred Members and the Common Members in accordance with the terms hereof;
(ii) cause the Company to obtain funds from additional investors; and
(iii) cause the Company to seek to borrow the required additional funds from any third-party lender.
Agreement to Contribute Capital. The Parent hereby agrees to, on or before the Maturity Date, contribute or otherwise transfer funds to Xxxxx in an amount which will enable Xxxxx to pay the 2014 Notes in full upon maturity in accordance with their terms (the “Contribution”).
Agreement to Contribute Capital. Parent agrees to contribute to Subsidiary $160,000 in capital to be used by Subsidiary as follows: /bullet/ $10,000 per month for six months to cover the salary of Shawkey. /bullet/ $100,000 for start-up expenses and operatixx xxxxnses approved in advance by Parent, on an as-needed basis.
Agreement to Contribute Capital. The Members agree to make their respective Initial Capital Contributions on or before the date of this Agreement. In the event additional capital is required by the Company, then, subject to the provisions of Section 2.06 of this Agreement, the Managing Member shall, in its sole discretion, take one or more of the following actions:
(i) cause the Company to obtain such additional funds from each Preferred Member and the Common Members in accordance with the terms hereof;
(ii) cause the Company to obtain funds from additional investors; and
(iii) cause the Company to seek to borrow the required additional funds from any third-party lender.
Agreement to Contribute Capital. The Agreement to Contribute Capital shall have been executed and delivered by all parties thereto and shall be in form and substance satisfactory to the Agent and the Lenders. Each Person party thereto shall be in compliance with its obligations thereunder.
Agreement to Contribute Capital. With respect to any Borrowing Base redetermination that is scheduled or otherwise occurs during the calendar year 2015, the Parent hereby agrees to, on or before the time period for Xxxxx to take the specified actions as may be required of it under Section 2.7 of the Credit Agreement, either 1) contribute or otherwise transfer funds to Xxxxx in an amount which will enable Xxxxx to prepay the Credit Agreement in an amount equal to the Borrowing Base Deficiency or 2) otherwise provide the lenders additional collateral, including in the form of restricted cash to the extent acceptable to the Administrative Agent, and grant, confirm and perfect first and prior liens or security interests on such collateral, to the extent needed to allow the Supermajority Lenders to increase the Borrowing Base to an amount which eliminates such Borrowing Base Deficiency (in either case, the “Contribution”).
