Conversion Contribution Sample Clauses

Conversion Contribution. Landlord shall pay the Conversion Contribution upon the Lease Commencement Date. Any failure by Landlord to pay the Conversion Contribution in accordance with this Section 4.2 shall be a default by Landlord under this Lease. The Conversion Contribution will be held in a non-interest bearing account by Tenant and applied as needed toward the Redevelopment and Opening Costs.
Sample 1
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Conversion Contribution. At any time after the date twelve (12) months after a Default Loan is made, at the option of the Contributing Member, such Default Loan shall be converted into an Additional Capital Contribution of the Contributing Member in an amount equal to the principal and unpaid interest on such Default Loan pursuant to this Section 2.2(b)(ii) as follows: (A) the Non-Contributing Member shall be deemed to have received a distribution, pursuant to Article III, of an amount equal to the principal and unpaid interest on such Default Loan, (B) such distribution shall be deemed paid to the Contributing Member in repayment of the Default Loan, (C) such amount shall be deemed contributed by the Contributing Member as an Additional Capital Contribution (a “Conversion Contribution”), and (D) the Contributing Member’s Capital Account shall be increased by, and the Non-Contributing Member’s Capital Account shall be decreased by, an amount equal to the principal and unpaid interest on such Default Loan. A Conversion Contribution shall be deemed an Additional Capital Contribution by the Contributing Member making (or deemed making) such Conversion Contribution as of the date such Conversion Contribution is made or the date on which such Default Loan is converted to a Conversion Contribution. At the time of a Conversion Contribution, the Percentage Interests of the Contributing Member shall be increased and the Non-Contributing Member’s Percentage Interests shall be correspondingly decreased, by adding to or subtracting from such percentage, as applicable, an amount, expressed as a percentage, equal to an amount determined by dividing (x) the amount of such Conversion Contribution by (y) the Applicable Denominator, provided, however, in the event the Conversion Contribution relates to the Non-Contributing Member’s failure to make a Development Capital Contribution, for the purposes of the foregoing calculation, the amount in clause (x) shall be multiplied by 1.5.
Sample 1
Conversion Contribution 
Sample 1

Related to Conversion Contribution

  • Equity Contributions Make, or permit any Significant Subsidiary to make, any equity contributions to any Unregulated Subsidiary; provided, however, that this Section 5.03(h) shall not restrict or otherwise apply to (i) any such equity contributions that are required by Applicable Law or court order or (ii) any intercompany advances made to any Unregulated Subsidiary (including, without limitation, pursuant to the Unregulated Money Pool Agreement) that are recharacterized by a court or other Governmental Authority as equity contributions.

  • City Contribution The City agrees to maintain health and dental benefits at present levels for the life of the Agreement.

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • Equity Contribution Prior to or substantially concurrently with the initial funding of the Loans hereunder, the Equity Contribution shall be consummated.

  • Local Subdivision Contribution The Recipient shall, at a minimum, contribute to the Project (the "Local Subdivision Contribution") the Local Subdivision Participation Percentage as set forth in Appendix D of this Agreement. The Local Subdivision Contribution to the Project shall be for the sole and express purpose of paying or reimbursing the costs certified to the OPWC under this Agreement for the completion of the Project as defined and described in Appendix A of this Agreement.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Pension Contributions While on leave pursuant to Section B. of this Article, an employee may make contributions to the appropriate State pension system and will receive service credit for the time the employee is on unpaid leave.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

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