FIELD EXAMINATION STAGE Sample Clauses

FIELD EXAMINATION STAGE. BMGE shall contribute $325,000 less any non-refundable payments in PARAGRAPH 1.13 OF THIS EXHIBIT I during the field examination stage. This sum is due in PGL's bank account within five business days after the Effective Date. Funds expenditure from the PGL bank account or any subsequent investments of those funds, will require at least one signature each from NGXS and BMGE, for the duration of this LLC. BMGE's obligation is unconditional and the sum of $325,000 is nonrefundable. Upon completion of the Field Examination Stage, BMGE may elect to continue funding or to discontinue funding. If BMGE elects to discontinue funding, the Operating Agreement shall terminate and BMGE shall have no interest in PGL or any of its assets.
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Related to FIELD EXAMINATION STAGE

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