Contribution of Capital. (a) Subject to the fulfillment of the conditions specified in Section 4.3(b), each of DAP and WTW shall contribute additional capital to the Company in the form of cash or extend loans to the Company in accordance with the loan agreements to be entered into by each Party and the Company, where each loan to be extended by a Party shall bear the same proportion to such Party’s contribution to share capital and each loan agreement between a Party and the Company shall have the same terms and conditions mutually agreed to by the Parties, in the amounts specified in the initial Five-Year Business Plan (the “Initial Contribution”). Notwithstanding the foregoing, the first fifteen percent (15%) of the Initial Contributions shall be paid by each of DAP and WTW within ten (10) days of its receipt of a written request from the Company.
(b) Each of DAP and WTW shall pay the remaining eighty-five percent (85%) of the Initial Contributions only after all of the conditions set forth below (the “Initial Conditions”) have been satisfied or waived in writing by DAP and WTW. Payment of such remaining amounts shall be made by each of DAP and WTW within ten (10) days of its receipt of a written request from the Company for all or a portion of such remaining amounts, at one time or at different times, consistent with the Five-Year Business Plan. If any of the conditions set forth below have not been satisfied or waived in writing by DAP and WTW by the Long Stop Date, either Party shall have the right to terminate this Agreement pursuant to Section 13.3(b)(ii). The Initial Conditions are as follows:
(i) the articles of association of the Shanghai WFOE have been approved by the Examination and Approval Authority without material substantive amendments thereto;
(ii) the Business License has been issued to the Shanghai WFOE without altering in any material respect the Shanghai WFOE’s initial business scope as set forth in the articles of association of the Shanghai WFOE; and
(iii) the Shanghai WFOE has received all of the Shanghai WFOE Approvals.
(c) All contributions to the share capital of the Company or Shareholders’ loans shall be made by the Parties in accordance with their respective shareholding percentages in the Company at such time and pursuant to the same terms and conditions. Except for the Initial Contributions, any required contributions to the Company shall be subject to the unanimous approval of the Board as provided in Section 8.9. For the avoidance of doubt, the ...
Contribution of Capital. Party A contributes the capital by the value of the entire exiting premises (the drawing attached). Party B contributes capital by the total value of purchasing equipment, tools serving the BCC, the value of the finalization of repair, renovation and completion of material facilities of the BCC and working capital. In the event party B contributes capital in the form of leasing machines: + If the lease of machines by the business cooperation shows that it is effective, the business cooperation unit shall pay the monthly rent to the machine-leasing party through party B for 5 (five) years of business. After this period, party B has to undertake not to account the rent of leasing machines and these machines shall be continuously used by the business cooperation unit until both parties agree to buy or lease new machines. + If the lease of machines by the business cooperation shows that it is not effective, party B undertakes to replace new machines to fit the practical situation of business. Both parties agree to negotiate again the price of leasing machines, time for payment of rent according to the kind of leased machines at that time. The total of investment capital must be confirmed by both parties in writing.
Contribution of Capital. No Shareholder shall be under any obligation to acquire additional Shares or other interest of any nature whatsoever, make capital contributions to or make loans to or guarantee the indebtedness of the Company or any of its Subsidiaries or any other Person.
Contribution of Capital. (a) At the Closing, PGP shall cause, and PGP-MVT shall contribute, the PGP-MVT Capital Contribution to the California General Partnership.
Contribution of Capital. (A) FIRST PARTY. The first party shall contribute <<$ AMOUNT>> to purchase, repair, maintain, advertise, market and incur any other expenses as well as any mortgage payments that become due during the period of ownership of the subject property as well as qualifying for any financing.
Contribution of Capital. 1. Subject to Section 5.4, each Party shall contribute its registered capital in accordance with Article 5.1.
2. Subject to Section 5.4, each Party shall, for the first phase in Shanghai and Beijing, contribute 24% of its registered capital within 90 days after the Joint Venture's business license becomes effective. Party A: US$360,000 Party B: US$720,000 Party C: US$120,000
3. Subject to Section 5.4, each Party shall contribute its registered capital within three (3) years of the date of issuance of the business license according to the resolutions of the Board of Directors.. The Board of Directors shall determine the specific dates of contribution according to the obtaining of governmental approvals for projects in other cities and the construction schedule.
4. If any Party fails to contribute its portions of the registered capital within the time set forth in this Contract, it shall pay the Joint Venture 10% annual interest for the late portion. From the date the contribution is due (including the due date) until the date the contribution is made (not including such date), the interest shall be paid on a monthly basis. If any Party fails to make the contribution ninety (90) days after the due date, the other Parties shall have the right and option to terminate this Contract according to Section18.3, or make the contribution, and thereafter own the additional portion of the Joint Venture represented by the contribution so made by the total registered capital of the Joint Venture.
Contribution of Capital. 13 2.11 Execution and Delivery of Related Documents...................................................... 13 2.12 Closing.......................................................................................... 13
Contribution of Capital. According to the provisions in this Contract, Sinoway shall transfer the technology to JVC in time; Xxxxxx shall contribute the difference between the registered capital and the total investment to the account of JVC in accordance with progress of the JVC preparation and construction and relevant regulations.
Contribution of Capital. Alchut is contributing the Specified Assets ----------------------- to Engineering as a contribution to capital. The parties agree that the value of such Specified Assets is $480,000.
Contribution of Capital. All Capital Calls that are consistent with the foregoing provisions of Section 3.4(A) and (C) shall be paid in US Dollars within ten (10) Business Days following receipt of the Draw Report therefor. Any and all amounts that are called and that are not immediately applied for the purpose called shall be (i) returned to the funding Members, or (ii) invested by the Manager in the name of the Company in Short Term Investments until such time as they are applied for the purpose called. During the Commitment Period, any amounts returned to the funding Members pursuant to this Section 3.4(D) or clause (i) of Section 3.4(E) together with all distributions of capital to the Members pursuant to Section 5.2 and Section 5.3: (1) shall reduce each such Member’s Capital Account by the amount returned to each such Member, (2) shall restore the Member Commitment of each such Member by the amount returned to each such Member, and (3) may be recalled by Manager (and, in the event of the failure of the Manager to do so, by a Member) in accordance with this Agreement.
