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Funding of the Company Sample Clauses

Funding of the Company. As a means to finance the operations of the Company without contributing to, changing or otherwise affecting the Unit capital of the Company, the Unitholders and the Board, via majority approval, respectively, may require the Unitholders to provide intercompany loans to the Company from time to time in amounts proportionate to each Unitholder’s Unitholder Interest (each, a “Cash Call”). The terms and conditions of each Cash Call and related intercompany loans must be unanimously approved by the Unitholders and the Board. The Chairman shall propose the due dates for payment of Cash Calls and purposes of use of respective Cash Calls, including funding the Company’s operations and the general administrative expenses of the Company.
Funding of the Company. 9.1 Continental having completed its investment into the Company in connection with the First Option or Second Option (as the case may be) as provided in the Option Agreement, the Board may from time to time by simple majority resolution determine that the Company requires additional funding in accordance with a Company Annual Budget having been approved by the Board. The then Shareholders of Company shall have first right to supply such additional funding. 9.2 In the event that the Board determines by simple majority resolution that the Company requires additional funding in accordance with the terms of an approved Company Annual Budget, the Shareholders shall agree to make either equity contributions or shareholders loans to
Funding of the Company. Funding for the Company will be provided to the Company by each of the Home Authorities as follows.
Funding of the Company. 9.1 Continental having completed its investment into the Company in connection with the First Option or Second Option (as the case may be) as provided in the Option Agreement, the Board may from time to time by simple majority resolution determine that the Company requires additional funding in accordance with a Company Annual Budget having been approved by the Board. The then Shareholders of Company shall have first right to supply such additional funding. 9.2 In the event that the Board determines by simple majority resolution that the Company requires additional funding in accordance with the terms of an approved Company Annual Budget, the Shareholders shall agree to make either equity contributions or shareholders loans to Company. If the Shareholders cannot reach agreement on the form of funding, the funding will be in the form of shareholders equity and the Company shall undertake an issuance of Ordinary Shares to permit such funding.
Funding of the Company. 11.1 The obligation of the Parties in respect of the future funding (including, but not limited to, Operating Costs, Capital Costs and other costs) of the Company, Kibali and/or the Project shall be pro-rata in proportion to their respective Percentage Interests in the Company at the time any such future funding is required. 11.2 The Parties acknowledge that, in accordance with the Kibali JVA, Kibali will be funded by the Company via intercompany loans. 11.3 Based upon the Annual Budget approved by the Company Board and any Approved Programme, the Operator shall submit, on or before the tenth day of each month to each Party a current cash estimate for the next ensuing month for Kibali, which cash estimate must be in accordance with policies, procedures and Instructions approved by the Company Board and must show: 11.3.1 separately the estimated cash disbursements which the Operator will be required to make during the relevant month for (i) Capital Costs and (ii) Operating Costs; 11.3.2 the extent, if any, to which such disbursements will be satisfied by cash on hand after allowing for any cash balance predicted to be on hand at the end of the previous month; and 11.3.3 the share of such amounts which each Party will be required to pay to the Company, to then be advanced by the Operator from the Company, directly or indirectly, to Kibali (collectively, a “Called Sum”), and the date or dates on which the Operator requires the same to be paid to the Company (the “Due Date”). 11.4 The Operator may from time to time, by not less than five Business Daysnotice to each Party, call upon the Parties to make payment to the Company, pro-rata in proportion to their respective Percentage Interests in the Company, of any other expenditure of the Company in relation to Kibali for which no provision is made in the Annual Budget approved by the Company Board or any Approved Programme to enable the Company to meet any cost or other liability relating to the Project, the payment of which is authorised in accordance with this Agreement; provided, however, that the aggregate of any such expenditures in any given Financial Year shall not exceed US$ 5 million without the prior approval of the Company Board. Each Party must pay to the Company, to then be advanced by the Operator from the Company, directly or indirectly, to Kibali, the amounts payable by it pursuant to this clause 11.4 by the date or dates (the “Due Date”) specified by the Operator (which must be not less than fi...
Funding of the CompanyBuyer shall (i) use all reasonable ---------------------- efforts to maintain in effect the Financing Commitment and (ii) draw funds on the Financing Commitment as necessary to fund the operations and capital requirements of the Buyer and, if the operations of the Company are conducted by a subsidiary of the Buyer, to contribute such funds as equity contributions to such subsidiary.
Funding of the Company. M-I and MCA agree to fund the Company by making loans to the Company in proportion to their equity interest when required by the Company following unanimous approval of the Management Committee. All such loans shall bear interest at an annual percentage rate of five percent (5%) or One-Year London Inter-Bank Offer Rate (LIBOR) plus two percent (2%), whichever is the higher, payable quarterly until repaid in full. In no case shall MCA, AC and M-I together be required to loan more than US$1,000,000 to the Company in any one calendar year. Neither MCA nor AC together nor M-I individually shall be expected to extend loans to the Company such that the total outstanding loan exceeds US$2,000,000 each. The Company's initial funding will be governed by the terms of the Funding Agreement, attached hereto as Exhibit A. All fees and expenses related to the Funding Agreement shall be paid for by the Company.
Funding of the Company. Unless otherwise determined by the Board, the funds required by the Company shall be provided first, by the Company's cash flow, secondly, by external borrowings in accordance with Clause 9.3, thirdly, by shareholders loans and lastly, by the issue of additional share capital. The additional share capital shall either be equity or preference. The debt-equity ratio shall be determined by the Board from time to time. If further funding is required, the Shareholders shall provide such further funding pro rata on the basis of their respective shareholding in the Company.
Funding of the Company. Unless otherwise determined by the Board, the funds required by the Company shall be provided first, by the Company's cash flow, secondly, by external borrowings in accordance with Clause 9.3 and lastly, by the issue of additional share capital or loans from the Shareholders, pro rata to their shareholding in the Company. For the avoidance of doubt, failure by a Shareholder to provide shareholder loans will not constitute a default under Clause 10.4.The additional share capital shall either be equity or preference. The debt-equity ratio shall be determined by the Board from time to time.
Funding of the Company. (a) From and after the Closing Date, and during the Escrow Term, Purchaser shall provide the Company with all necessary funding for its operations, including all debt service and all payments due under all agreements to which the Company is a party (the "Funding"). The Funding shall be provided to the Company on commercially reasonable terms. In each instance when Purchaser provides Funding, it will provide prior notice thereof to COTG, which notice shall specify the purpose for which such Funding is to be utilized. (b) In the event of, and conditioned upon, the failure of the Company to obtain the New York Regulatory Consent pursuant to Section 2.2 of this Agreement (other than as a result of any action by the Purchaser, the failure of the Purchaser to take any action necessary to obtain such consent, or the failure of the Purchaser to provide Funding for the Company during the Escrow Term), (i) COTG will guarantee the Company's repayment to the Purchaser of the first $50,000 of the Funding pursuant to the Guaranty in the form annexed hereto as Exhibit 4.4(b)(i) to this Agreement (the "COTG Guaranty"), and (ii) the Company will grant Purchaser a security interest (the "Security Interest") in its accounts receivables to secure the repayment to Purchaser by the Company to the extent of the next $125,000 of Funding pursuant to a Security Agreement in the form annexed hereto as Exhibit 4.4(b)(ii) to this Agreement (the "Company Security Agreement"). The Security Interest granted to Purchaser shall be senior to that held by COTG to the extent of such $125,000 and, at such time as the Purchaser shall have received an aggregate of $125,000, pursuant to the Security Agreement or otherwise, in addition to the $50,000 guarantied by COTG, the Company Security Agreement shall automatically terminate and the Purchaser shall be an unsecured creditor of the Company as to any additional Funding. In the event and to the extent that COTG pays any sum to TAL pursuant to the COTG Guaranty, such sum shall constitute an additional advance to the Company under the COTG Loan Agreement. (c) Notwithstanding any provision of this Agreement to the contrary, in the event that the New York Regulatory Consent is obtained in accordance with the provisions of the Escrow Agreement, the Guaranty and the Company Security Agreement will automatically terminate at that time and be of no further force or effect. At such time, Purchaser will return the COTG Guaranty to COTG and deliver to the C...