Common use of Amount of Funded Overrun Equity Commitment Clause in Contracts

Amount of Funded Overrun Equity Commitment. Without limiting the Sponsor’s obligations under Section 2.2.1, each Equity Contributor irrevocably commits to provide to the Borrower, directly or indirectly, in accordance with Section 2.3.2, its share of the Funded Overrun Equity Balance in an amount determined by the following formula (“Funded Overrun Equity”): where A = such Equity Contributor’s Funded Overrun Equity Percentage, B = the Funded Overrun Equity Amount, C = the aggregate amount of such Equity Contributor’s prior Funded Overrun Equity Contributions. No Equity Contributor’s commitment under this Section 2.2.2 (its “Individual Funded Overrun Equity Commitment Balance”) can be less than zero.

Appears in 6 contracts

Samples: Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc)

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Amount of Funded Overrun Equity Commitment. Without limiting the Sponsor’s obligations under Section 2.2.1, each Equity Contributor irrevocably commits to provide to the Borrower, directly or indirectly, in accordance with Section 2.3.2, its share of the Funded Overrun Equity Balance in an amount determined by the following formula (“Funded Overrun Equity”): (A * B) - C where A = such Equity Contributor’s Funded Overrun Equity Percentage, B = the Funded Overrun Equity Amount, C = the aggregate amount of such Equity Contributor’s prior Funded Overrun Equity Contributions. No Equity Contributor’s commitment under this Section 2.2.2 (its “Individual Funded Overrun Equity Commitment Balance”) can be less than zero.

Appears in 1 contract

Samples: Equity Funding Agreement

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