Further Finance. Except otherwise agreed by all Shareholders in writing, no Shareholder shall be obliged to contribute further funds (whether in the form of debt or equity) to the Company or any of the Group Companies under any circumstances, even in the event that the Company or any of the Group Companies requires further funding for its operations.
Further Finance. If the Board considers at any time that the Business requires further finance, the Board will consider whether or not to approach the Company's bankers or other financial institutions or, in appropriate circumstances, to seek such further finance from the parties. The parties are not obliged to provide any further finance unless they both agree on the amount and method of providing the finance. Unless they agree otherwise, they (or members of their respective Groups) shall contribute the same amount to the Company (whether by subscribing for shares, stock or debentures or by way of loan or otherwise), at the same time and on the same terms.
Further Finance. If the Board considers at any time that further finance is required for the Business, the Board must submit such matter to a Shareholders' meeting for approval. The Shareholders shall discuss in good faith whether to provide such further finance, and if so, the method and timing by which such finance is to be provided. Any further contribution of finance to the Investment Vehicle (whether by way of subscription for Shares, stock or debentures or by way of loan or otherwise) shall, unless otherwise agreed between the Shareholders, be made by each of them in the proportion of the Percentage Interests, at the same time and on the same terms.
Further Finance. The Shareholders acknowledge that the Company may require further finance to fund its projected cash requirements under the Business Plan and agree that the Company may borrow additional sums from third parties on the most favourable terms available as to interest, repayment and security compatible with its needs, but shall not allow any prospective lender the right to participate in the share capital of the Company or otherwise in the Business as a condition or term of any loan or advance.
Further Finance. If the Board considers at any time that the Business requires further finance, the Board will consider whether or not to approach the Company's bankers or other financial institutions or, in appropriate circumstances, to seek such further finance from the Members. No Member shall be obliged to provide any such further finance unless such Member agrees in writing on the amount and method of providing the finance.
Further Finance. 2.6.1 The estimated planned capital expenditure for the Company for illustration purpose only will be: a. Capex of Knitting 3,150 630 2,520 b. Capex for Dye and Print Factory 14,627 9,363 5,264 c. Capex for lab, WH, and office 2,212 2,212 - d. Capex for Factory Set up 3,609 2,350 1,259 e. Capex for water system 1,316 1,316 - f. Capex for boiler and power station 4,942 2,546 2,396 Total: 29,856 18,417 11,439
2.6.2 The Shareholders agree that the initial capital expenditures of the Company shall be approximately US$ 29,856,000, with US$100,000 to be injected in the Company as share capital and the rest to be paid by the Parties in the form of shareholders’ loans according to their respective shareholding mentioned above. The Parties should inject the initial capital expenditures to the Company in two phases according to their respective shareholding proportions and pursuant to the capex table mentioned above within Clause 2.6.1, with the phase 1 of the capex table. Once the production capacity of phase 1 loads over 60%, the Parties shall perform capital injections in the amount of phase 2 value as presented in the capex table. Nevertheless, if the Group Companies obtain bank loans, the Parties shall reduce shareholders’ loans by the aggregate amount of the bank loan actually received by the Group Companies, pro rata with their respective shareholding proportions. The total amount of bank loans and shareholders’ loans added should not be less than the total amount as set out in the capex table.
(a) The Parties shall contribute their phase 1 capital injection to the Company pro rata with their respective shareholding proportions according to the following schedule. Notwithstanding the foregoing, if the actual capital expenditure plan differs from the following schedule and such difference is confirmed by the Parties, the actual timeline for the capital injection can be adjusted accordingly if mutually agreed upon by the Parties;
i. The Parties shall, within two weeks after a bank account the Company is opened, contribute an aggregate of US $100,000 into the Company as share capital;
ii. The Parties shall, within two weeks after commencing the construction of fabric & textile factory (which shall be commenced within 5 months from the date of establishment of the Jordanian Subsidiary in accordance with Clause 3.6.g.iii herein), contribute an aggregate of US$7.37 million in the form of shareholder loans to the Company, accounting for approximately 40% of the tota...
Further Finance. If FAC shall in the opinion of the Board require further finance, FAC shall first approach its own bankers. The parties shall not be obliged to provide guarantees for FAC's liabilities in respect of such finance but, if they do so, they shall be given in equal proportions. The liabilities of the parties under any such guarantees shall be several and, if a claim is made under any such guarantee against a party, that party shall be entitled to a contribution from the other party such as to ensure that the aggregate liability is borne in equal proportions.
Further Finance. 5.1 Each Partner undertakes that it will during the term of this Agreement contribute its Percentage Share of all funding required by any relevant Budget or as agreed by the Partnership Board pursuant to clause 5.3.
5.2 All capital contributed by P1 and P2 to meet funding pursuant to clauses 5.1 or 5.3 shall (unless otherwise agreed by the Partners) be treated as a capital contribution and credited to its respective Capital Account.
5.3 Each Partner undertakes that, if the Partnership Board resolves that further funding from the Partners is required in addition to any such finance provided for in any relevant Budget and/or obtained from any third party borrowing, it will contribute its Percentage Share of the additional required funding on the terms set out in clause 5.1 or on such other terms as the Partners agree.
5.4 All sums contributed pursuant to clause 5.3 shall also be credited to the relevant Partner's Capital Account.
5.5 The Partners are not obliged to provide guarantees to support the Partnership's financing commitments. If they do so, such guarantees shall be given in proportion to each Partner's Percentage Share. The liabilities of the Partners under such guarantees (so far as possible) shall be several and not joint and several. If a claim is made under any such guarantee against a Partner, it is entitled to such a contribution from the other Partner as will ensure that the aggregate liability is borne by the Partners in their respective Percentage Shares.
Further Finance. Except as otherwise provided in Transaction Documents, no Shareholder, nor any of its Affiliates, shall be required to provide additional funding to the Group whether by way of: (i) subscribing for Shares; (ii) providing any form of debt funding, security, collateral or guarantee; or (iii) any other arrangement whatsoever. To the extent the Group requires additional funding for any reason, the Parties agree to discuss in good faith, and to seek to secure, debt financing from third parties on acceptable terms prior to the provision of any finance (whether debt or equity) by the Shareholders.
Further Finance. (a) If, after the date of this Agreement, FAC shall in the opinion of the Board require further finance, FAC shall first approach its own bankers. The parties shall not be obliged to provide guarantees for FAC's liabilities in respect of such finance.
(b) If finance cannot be obtained from FAC's own bankers, neither party shall be obliged to provide any such further finance to FAC.
