Funding of the Project. The Agency has agreed by resolution to approve the Project and to fund all costs for the design, installation, and maintenance of the Project, and such resolution is attached and incorporated in this Agreement as Exhibit “D”. The Department shall not be responsible for any costs associated with the Project. All improvements funded, constructed, and installed by the Agency shall remain the Agency’s property. However, this permissive use of the Department’s right-of-way where the Project is located does not vest any property right, title, or interest in or to the Agency for the Department’s right-of-way.
Funding of the Project. Until Donor has received adequate funding for the Project detailed on Exhibit B, no work shall commence on the Project.
Funding of the Project. As consideration for this Agreement, PARTY1 agrees to provide all necessary funding for the purchase and future development of the Property.
Funding of the Project. As consideration for this Agreement, PARTY1 agrees to assist both parties by obtaining the property under fair market value. It is estimated that the current fair market value of the Property is $Xxxxxx,xxx. The parties shall obtain the Property for $Xxxx,xxx. Thus PARTY1’s contribution to the Joint Venture is $Xxxx,xxx. PARTY2 shall provide the cash purchase price of $Xxxx,xxx in order to close on the purchase of the Property. Hence the initial percentages of the partners set forth in Section X above are based on their respective initial investment.
Funding of the Project. (a) The Project shall be funded solely with the proceeds of the Loan (excluding the first $13.2 million previously paid by the Company for the Project), and the proceeds of the Loan shall be used solely to fund the Project, including changes in working capital related to the Project and interest on the Loan. Marathon and the Company shall not amend, modify or supplement the Loan Agreement without prior approval of the Board of Managers in accordance with the Super Majority Decision voting procedures contained in Section 8.07(b) of the MAP LLC Agreement. The Company shall not reduce the Commitment (as defined in the Loan Agreement) or waive any rights under the Loan Agreement without prior approval of the Board of Managers in accordance with the Super Majority Decision voting procedures contained in Section 8.07(b) of the MAP LLC Agreement. In the event that the Commitment is not sufficient to fully fund the Project, Marathon and the Company shall amend the Loan Agreement to increase the Commitment to an amount sufficient to complete the Project.
(b) On or prior to the 25th day of each month, the Company shall deliver to each Member (at the same time) a Qualified Expenditure Report schedule summarizing all of the Qualified Expenditures which were incurred by the Company during the prior calendar month. In accordance with the terms of the Loan Agreement, Marathon shall advance cash to the Company in an amount equal to the Qualified Expenditures listed on the relevant Qualified Expenditure Report on the third Business Day following Marathon's receipt of such Qualified Expenditure Report. Each such cash advance to the Company from Marathon shall constitute a borrowing under the Loan Agreement by the Company.
(c) During the two years following the Company's delivery of each Qualified Expenditure Report, each Member and its duly authorized representatives shall have examination rights in accordance with Section 7.01 of the MAP LLC Agreement for the purpose of auditing the content of the Qualified Expenditure Reports.
Funding of the Project. Section 1. <ABBREVIATION OF FUNDING AGENCY> and <RDI>shall pay for the costs and expenses as indicated in the Line Item Budget attached as Annex “B.”
Section 2. <RDI> counterpart participation shall be <state funding or services> for the Project.
Funding of the Project. Upon certification of the Yield, the Company shall fund, through equity contributions to the Developer or the SPV (as defined in Section 5.4), the Project start-up expenses during the first year of the Term in amounts not less than the amounts set forth on Schedules C and D, on a time schedule reasonably agreed by Company and Project Manager. In accordance with mutually agreed budget, the Company shall fund, through equity contributions to the Developer or the SPV, the Project working capital needs during the Term. Any material changes or additional expenses added to the budget shall be pursuant to the mutual agreement of the Parties.
Funding of the Project. BDI Pharmaceuticals shall be solely responsible for all costs associated with funding its performance of the Project.
Funding of the Project. Donor will make payments to Contractor as provided in Section 3.7. of this Agreement in support of the Project. Until Donor has received adequate funding for the Project detailed on Exhibit B, Contractor shall not commence work on the Project.
Funding of the Project. Conditions of funding will be recorded in the addendum of particular clauses in case they are needed to be reflected.
