Contributions to Fund Clause Samples
Contributions to Fund. (a) If a Contribution Event occurs prior to the occurrence of a Termination Event, the Support Provider will make a Capital Contribution in an amount equal to the lower of (i) the Loss incurred as a result of such Contribution Event, or (ii) the Maximum Contribution Amount reduced by the amount of any Capital Contribution previously made by either Support Provider to the Fund under this Agreement.
(b) The Support Providers shall make the Capital Contribution to the Fund not later than one business day after the occurrence of a Contribution Event, by 12:00 noon, Eastern Time. Each Capital Contribution made hereunder shall be made in immediately available funds, without deduction, set-off or counterclaim, to the Fund.
(c) The obligation of the Support Providers to make Capital Contributions pursuant to this Agreement shall terminate upon the earlier of (such occurrence, the "Termination Event"): (i) the Support Providers have made Capital Contributions equal to the Maximum Contribution Amount, (ii) the Fund no longer holds Eligible Notes, or (iii) 5:00 p.m. Eastern Time on March 31, 2009. If an event constitutes both a Termination Event and a Contribution Event, then the Termination Event will not be deemed to have occurred until the Support Providers have made any Capital Contributions required under this Agreement with respect to such Contribution Event.
(d) The obligations of the Support Providers to make Capital Contributions hereunder shall be joint and several. Any required Capital Contribution hereunder may be made by either Support Provider, in the sole discretion of the Support Providers, provided, however, nothing contained herein shall in any manner limit the Fund's rights to receive all amounts due hereunder, including, without limitation, its right to draw funds from the Segregated Account as provided for herein.
(e) If the Support Providers make a Capital Contribution when due, then the amount that LMSub is obligated to maintain in the Segregated Account shall be reduced to give effect to such Capital Contribution. In the event that the Support Providers do not make a Capital Contribution when due, the Fund will draw funds from the Segregated Account by 4:00 p.m. on the day that such Capital Contribution was required to have been made and in an amount equal to the Capital Contribution that is due. Any amount withdrawn from the Segregated Account shall be deemed to be a Capital Contribution made hereunder by the Support Providers.
Contributions to Fund. Section 2.01. Each of the Governments specified below undertakes, as a party to this Agreement, subject to such parliamentary or congressional action as may be necessary, to make a contribution to the Fund in its own currency of the nature and in the amount specified opposite its name below:— Grant Loan Australia £A 6,965,000 — Canada Can.$ 22,100,000 — Germany DM. 126,000,000 — New Zealand £NZ 1,000,000 — United Kingdom £ 20,860,000 — United States U.S.$ 177,000,000 Proceeds of a U.S. dollar loan to Pakistan (repayable in rupees) in an amount not exceeding U.S. $70,000,000 (hereinafter referred to as the United States loan). The Schedule—continued.
Section 2.02. The following contribution (hereinafter referred to as the Bank loan) will also be made to the Fund:— The proceeds of a loan to Pakistan from the Bank in an amount not exceeding U.S.$80,000,000 equivalent, of which the terms and conditions are set out in the Loan Agreement annexed hereto as Annexure B.
Section 2.03. The United States, in addition to its contributions specified in Section 2.01 above, undertakes, subject to any necessary Congressional action, to make a contribution to the Fund of an amount in Pakistan rupees (hereinafter called rupees) equivalent to U.S.$235 million. This contribution shall be in the form of grants or loans or both to Pakistan in amounts and under conditions to be agreed between the United States and Pakistan.
Section 2.04. Pakistan undertakes to make the following contributions to the Fund:—
(a) a contribution in pounds sterling of £440,000, and
(b) a contribution in rupees in an amount equivalent to £9,850,000.
Contributions to Fund. SECTION 2.01. Each of the Governments specified below undertakes, as a party to this Agreement, subject to such parliamentary or congressional action as may be necessary, to make a contribution to the Fund in its own currency of the nature and in the amount specified opposite its name below:— Australia £A 6,965,000 — Canada Can.$ 22,100,000 — Germany DM. 126,000,000 New Zealand £NZ 1,000,000 — United Kingdom £ 20,860,000 United States U.S.$ 177,000,000 Proceeds of a U.S. dollar loan to Pakistan (repayable in rupees) in an amount not exceeding U.S. $70,000,000 (hereinafter re• ferred to as the United States loan).
Contributions to Fund. Each Employer agrees to pay the sum reflected in Appendix A of this Agreement, per hour for each hour worked by each employee, covered by the terms of this Agreement, to the Massachusetts Laborers’ Health and Welfare Fund. Said sum will be paid into said Fund not later than the twentieth (20th) day of each and every month for hours worked by said employees up to the end of the last complete payroll of the preceding calendar month. The said Fund will be administered by a Board of Trustees selected and appointed under the provisions of the Trust Agreement executed by the Union and the Employers. Said Trust Agreement shall conform to the Labor-Management Relations Act of 1947, as amended, and all other applicable laws and regulations of the United States, the Commonwealth of Massachusetts and the State of New Hampshire. The said Fund will be used to purchase accident and sickness disability insurance and hospitalization, medical and surgical benefits and/or other welfare benefits of a similar nature for the said employees as provided in the said Trust Agreement.
Contributions to Fund. To assure the soundness of the Fund, the Clinic shall make quarterly contri- butions to the Fund as determined necessary by an independent actuary selected by the Clinic who has experience in the field of medical malpractice liability insurance. The actuary shall, in accordance with s. Ins 17.50, Wis. Adm. Code, annually determine the amount necessary to be paid into the Fund. In addition to the cash assets of the Fund, the Fund may also, with the approval of the Commissioner of Insurance (“Commissioner”), hold letters of credit as necessary to assure that the Fund assets shall total the estimated liabilities of the Plan, but only if the estimated liabilities are less than $2,000,000.