Capital Payment. 11. Aquentium will pay a one time fee of $15,000 USD to Xxxxxxx Xxx for securing the use of the 475.450 acres for this project. No additional payment will be due to Xxxxxxx Xxx, his family or any associates until the plant is fully operational.
Capital Payment. On the date hereof, BTMU, as Agent for the BTMU Conduit Group, shall have received, pursuant to the terms and conditions of the Purchase Agreement, an Aggregate Reduction of Aggregate Capital in an amount equal to $20,847,500 (the “Capital Reduction”).
Capital Payment. The Borrower shall provide the Lender with Payment Notice and evidence of payment one day before the proposed payment day. The Lender shall examine the aforementioned documents in accordance with its internal management process. If evidence of payment is deemed to be true and completed, the Lender shall perform the payment upon the day of receiving the payment notice. Where if the evidence of payment is deemed to be untrue and uncompleted, the Lender could suspend performance of the payment or refuse to perform. The Borrower shall provide evidence of payment including : project application, equipment purchasing contract, list of equipment and so on.
Capital Payment. In connection with the Transactions, Parent shall contribute to Pearsanta, subject to the consent of the board of directors of Pearsanta and Parent, the Capital Payment in accordance with the Side Letter. Notwithstanding anything to the contrary set forth in this Agreement, (a) any payment of the Capital Payment shall be subject to and made in compliance with the applicable terms and conditions of Parent’s and its Subsidiaries’ current or future third-party financing documents or any subsequent refinancing thereof (the “Parent Financing Documents”), (b) the Capital Payment shall constitute subordinated obligations of Parent’s and its Subsidiaries’ (subordinated to the payment in full of all indebtedness and other obligations under any Parent Financing Documents) and (c) Parent’s and its Subsidiaries’ shall not be required to pay, and Pearsanta shall not be entitled to receive, any payment of the Capital Payment if and to the extent such payment is prohibited by, or would result in a default or event of default under, the Parent Financing Document at the time of such contemplated payment. No later than ten (10) Business Days after the date upon which Parent is no longer prohibited from paying the Capital Payment that was not paid by Parent to Pearsanta, Parent will pay to Pearsanta the postponed Capital Payment. Any Capital Payment erroneously paid during the continuance of a default or event of default under the Parent Financing Documents shall be promptly paid over by Pearsanta to the lenders under the Parent Financing Documents (the “Lenders”), and pending receipt by the Lenders, all such amounts shall be held by Pearsanta in trust for the benefit of the Lenders. Pearsanta covenants and agrees that (x) payment of the Capital Payment is and will remain unsecured, (y) the holders of indebtedness under the Parent Financing Documents are express third-party beneficiaries of the provisions of this clause and may enforce them against Pearsanta directly and (z) any amendments to this clause will not be effective to decrease the rights of any holder of indebtedness under the Parent Financing Documents without such holder’s prior written consent.
Capital Payment. The called portion of registered capital is paid in blocks whose amounts, terms and conditions are defined by the Executive Board. However, as soon as the Agreement founding the Bank is signed, 10% of the initial subscribed and called capital is paid. In conformity with Article 15, paragraph 5, line b, the Executive Board of the Bank may call on any occasion it deems necessary, whatever portion of the callable capital in order to deal with contractual interest payments, other costs or redemption relative to all loans of the Bank. Calls on unpaid subscriptions deal with a uniform amount of all callable shares. However, the obligation of every shareholder to make payments on his share of callable capital is independent of that of other shareholders. The other terms, conditions and payment dates for amounts thus called are defined by the Executive Board. In case of a delay in paying the called block of a shareholder’s capital, the sanctions provided for in Article 49 of these statutes will be applied. Shares should neither by given as security nor entailed with costs in whatever way. They may only be given up with the acceptance of the General Assembly.
Capital Payment
