Capital Shortfall Clause Samples
Capital Shortfall. SFMA will send notices to the Funding Partners or their representatives approximately three months prior to each of the ten capital calls, which are expected to take place approximately one month prior to the Service Commencement Date and approximately every June and December thereafter (the “Capital Call Dates”). The Funding Partners will have a deadline of 45 calendar days, but no less than 30 days, prior to each of these Capital Call Dates to provide the committed capital after which the Funding Partner will be in default (“Capital Shortfall”). SFMA shall provide a) confirmation to the Commonwealth that committed capital has been provided prior to each of the Capital Call Dates and b) information to the Commonwealth as promptly as practicable upon becoming aware of facts that might lead to a Capital Shortfall. SFMA shall keep the Commonwealth promptly apprised of the status of any actions being taken to remedy any such Capital Shortfall.
Capital Shortfall. SFI shall provide notice to all other Parties of a Capital Shortfall (Section 8.01(d) above) that has not been cured within 30 days following a Capital Call Date, as set forth in Section 4.05 hereof. SFI may, within 15 days of providing such notice, present a remediation plan to the Operating Committee for its consideration. The final remediation plan will be presented to the Oversight Committee for approval within 15 days following presentation of such remediation plan. If the Parties agree to a remediation plan, then this PFS Contract will not terminate, and will be amended, if necessary, in accordance with Section 10.02. If the Parties do not agree to a remediation plan, or if SFI does not present a remediation plan within the time frame stated above, the Commonwealth or JVS may then terminate this PFS Contract by written notice to all other Parties; provided, however, that the giving of such notice or the receipt thereof shall not be a condition precedent to such termination. Upon such notice, no additional participants shall be enrolled in any of the Program Tracks, and JVS Services will continue for any remaining participants. Termination of this PFS Contract as to all Parties will be effective on a date to be agreed upon by the Operating Committee, which will be sufficient to allow for an orderly wind-up of the PFS Project, including but not limited to completion of such JVS Services and any evaluation in accordance with Schedule C, Evaluation Plan or early evaluation in accordance with Section 5 of Schedule E, Funding Plan. The Parties shall comply with the Wind-Up procedures set forth in Section 5 of Schedule E, including payment of Success Payments, if any.
Capital Shortfall. There exists a Capital Shortfall that is not cured as stated in Section 8.02 (d) below.
Capital Shortfall. The Estimated Required Adjusted Book Value shall not exceed the sum of (i) the Estimated Total Adjusted Book Value plus (ii) the amount Buyer Parent is required to pay or cause Buyer to pay pursuant to Section 2.3(c) by an amount that is greater than the Maximum Seller Contribution.