Capital Purchases. The Seller shall provide each of the Managing Agents with a purchase notice, in the form of Exhibit B (each a "Purchase Request"), no later than 3:00 p.m. (New York time) at least three (3) Business Days prior to each Capital Purchase. Each Purchase Request shall, except as set forth below, be irrevocable and shall specify the requested Purchase Price (not to be less than $5,000,000) and date of purchase (which shall be a Business Day). Each Purchase Group shall fund each Capital Purchase ratably based on the respective Funding Percentage of such Purchase Group. The Conduit Purchasers of each Purchase Group may, in their discretion, fund the Purchase Group's Funding Percentage of such Capital Purchase (such amount of the Capital Purchase allocated to such Purchase Group being referred to as the "Funding Amount") and the Managing Agent of each Purchase Group shall allocate the portions of the Funding Amount, if any, to be funded by each such Conduit Purchaser in its sole discretion; provided that no Conduit Purchaser shall fund any portion of a Capital Purchase if, after giving effect thereto, the aggregate Capital of its Purchased Interest would exceed its Conduit Purchase Limit. In the event that the Conduit Purchasers of any Purchase Group elect not to fund the Funding Amount, then the Committed Purchasers in such Purchase Group shall, subject to the terms and conditions of this Agreement including without limitation Section 3.03, fund such Funding Amount (or the unfunded portion thereof) ratably based on the respective Committed Purchaser Percentages of such Committed Purchasers; provided that (i) no Committed Purchaser shall be required to fund any portion of a Capital Purchase if, after giving effect thereto, the aggregate Capital of its Purchased Interest would exceed its Commitment, and (ii) no Purchaser shall be required to fund any portion of a Capital Purchase if, after giving effect thereto, the aggregate Capital of the Purchased Interests of all Purchasers in its Purchase Group would exceed the Group Purchase Limit of its Purchase Group. Each applicable Purchaser shall transfer the portion of such Capital Purchase to be funded by it in immediately available funds to the account and on the date of Capital Purchase specified in the related Purchase Request.
Capital Purchases. Capital purchases that solely benefit a Member Agency shall be funded by that Member Agency. All other capital purchases shall be funded on terms established by the Board. The funding of capital purchases that are not budgeted shall be separately approved by each Local Sub-Committee.
Capital Purchases. From time to time, the Board shall acquire capital equipment for use in performance of the duties in the administration, operation, and maintenance of the system. Such purchases shall require the approval of the Townships either as a part of the annual budget process or by special appropriation. Each Township shall be deemed to have a separate equitable beneficial interest in such capital items. The cost of such items shall be allocated to each Township in accordance with the formula established in paragraph 14A, or as may be otherwise specifically agreed at the time of purchase.
Capital Purchases. 12.1 This Agreement does not provide any mechanism for making capital purchases. If the Partners decide at any time throughout the duration of this Agreement that it is necessary to make capital purchases then the Partners will agree this separately in writing.
Capital Purchases. If, during Phase I, Ostex and Metrika agree to purchase jointly manufacturing equipment to be used in the production of the NTx/DRx Device, such purchases shall be made in accordance with the terms of this Article VI. The capital equipment shall be jointly owned by Ostex and Metrika. Each party shall be obligated to pay their pro rata share of the equipment costs as set forth in Section 6.2, and shall have the rights to purchase the other party's pro-rata interest in the equipment as set forth in Section 6.3. No capital equipment shall be jointly purchased unless and until Ostex and Metrika agree in writing as to the parties' respective right to use the acquired capital equipment for their own business activities.
Capital Purchases. The Seller shall provide the Agent with a purchase notice, in the form of Exhibit B (each a “Capital Purchase Request”), no later than 1:00 p.m. (New York City time) on the Business Day that is one Business Day prior to each Capital Purchase. The Agent shall promptly notify the Purchaser of the contents of any such Capital Purchase Request. Each Capital Purchase Request shall, except as set forth below, be irrevocable and shall specify the requested Purchase Price (for which the initial amount shall not be less than $1,000,000 and thereafter in $100,000 increments) and date of purchase (which shall be a Business Day). On the date of each Capital Purchase, upon satisfaction of the applicable conditions precedent set forth in Article III, the Purchaser shall make available to the Agent in accordance with the provisions of Section 2.05, not later than 11:00 a.m. (New York City time), in immediately available funds, an amount equal to the requested amount of such Capital Purchase, and the Agent will, upon receipt thereof, make such funds available to the Seller by 3:00 p.m. (New York City time) by wire transfer to the Seller’s Account; provided, that in no event shall the Purchaser make any Capital Purchase if, after giving effect thereto, either (i) the Purchaser Interest would exceed 100% or (ii) the aggregate outstanding Capital would exceed the Purchase Limit. The Agent shall deliver to the Seller promptly after the occurrence of each Capital Purchase written confirmation of the amount of such Capital Purchase and the date such Capital Purchase is effective.
