CapitaI Contribution Sample Clauses

CapitaI Contribution. OCP covenants and agrees that, from time to time upon the occurrence during the Term of this Agreement of any Contribution Event and the subsequent written request by the Bank to OCP specifying the Required Cure Amount for such Contribution Event ("Request"), OCP will make a capital contribution in cash to Borrower in such Required Cure Amount; provided that the aggregate amount of all such capital contributions by OCP during the Term shall not exceed the difference between (a) 25% of the aggregate Capital Commitments (as such term is defined in OCP's Limited Partnership Agreement) of all Partners of OCP, and (b) $880,000.00 (the "Contribution Maximum"). The foregoing capital contribution covenant is for the independent benefit of the Bank and shall be enforceable independently by the Bank without the participation or authorization of Borrower. All capital contributions made by OCP pursuant to this Agreement will be made in respect to the capital stock of Borrower owned by OCP and, if Borrower declines to do so, without the issuance of any additional shares of capital stock of Borrower. All capital contributions made by OCP pursuant to this Agreement upon the issuance of a Request by the Bank shall be made within ten (10) days after the date of delivery to OCP of the Request for such capital contribution payment and shall be made by payment directly to the Bank for the account of Borrower by OCP. Immediately upon such capital contribution payment being received it shall be applied by Borrower to the Obligations in such order as the Bank may determine (or, if there are no outstanding balances on the Loans, held as cash collateral in an interest bearing account under the Security Agreement). OCP or Borrower shall provide such confirmations as the Bank reasonably may require of each capital contribution made pursuant to a Request promptly after making each such capital contribution. In the event for any reason this Agreement is deemed a subscription by OCP to make an additional capital contribution to Borrower, Borrower hereby assigns such subscription to the Bank as security for the Obligations and agrees that such subscription is a general intangible subject to the security interests of the Bank granted under the Security Agreement.
Sample 1
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Related to CapitaI Contribution

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • The Contribution Prior to the Effective Time, and subject to the terms and conditions set forth in the Distribution Agreement, Grace intends to cause the transfer to a wholly owned subsidiary of Grace-Conn. ("Packco") of certain assets and liabilities of Grace and its subsidiaries predominantly related to the Packaging Business (the "Contribution"), as contemplated by the Distribution Agreement and the Other Agreements.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

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