Further Funding. If you return to Full-Time Student Status after the Payment Trigger Date, and you apply for Financial Assistance, funding may be disbursed to you under the MSFAA- Canada or you may be required to enter into a new MSFAA.
Further Funding. 13.2.1 The Company shall not, and shall procure that its Subsidiaries will not, issue debt instruments to individuals or institutional investors or seek any debt financing to fund the activities of the Group. Notwithstanding the previous sentence, the Company and its Subsidiaries may, solely in the context of partnerships or (funded or unfunded) risk participations with third parties, enter into arrangements that result in financial obligations, including debts and payment obligations, of Subsidiaries of the Company.
13.2.2 If the Company, the Development Subsidiary, Investment Subsidiary or Regulations Subsidiary, requires, or wishes to obtain (further) financing, the Management Board may, subject to the approval of the Supervisory Board, without prejudice to Clause 13.1 (No obligation to provide financing), seek further financing from the Shareholders, in the form of Shares A, Shares B, other Shareholder funding, or a combination thereof.
Further Funding. The Secretary of State is under no obligation to provide the Authority with any further funding in respect of the Proposal or for any other purpose.
Further Funding. If you return to Part-Time Student Status after the Payment Trigger Date, and you apply for a B.C. Access Grant, funding may be disbursed to you under the MSFAA (PT)-BC or you may be required to enter into a new MSFAA (PT)-BC.
Further Funding. 19.1 Save as provided in Clause 17, the Company undertakes that it will not, without the prior written consent of the Trust (such consent not to be unreasonably withheld, delayed or conditioned), accept any further funding to complete the Phase II trial of SMT 19969 by way of loan, grant or other funding the conditions of which would materially prejudice the Trust’s position under this Agreement with respect to its share of Net Revenues or its rights to become the Exploiting Party set forth in Clause 16. For clarity the Company is not restricted from raising general working capital.
Further Funding. In addition to providing timely funding for the development of working prototypes and construction of power plants, Licensee agrees to provide appropriate funding for continued research and development, as well as patent and trademark filings, legal and accounting fees, and expenses related to the management and marketing of the technology.
Further Funding. The Parties understand that further funding of the Company may become necessary through loans or additional capitalization and the Parties shall do all things reasonably necessary including the waiving of pre-emptive rights in accordance with Article 6.2
Further Funding. The Secretary of State is under no obligation to provide the Authority with any further funding in respect of the Agreed heat network development stages, the Project or for any other purpose.
Further Funding. (a) In the event that the JV Group requires additional funding, the parties agree that such funding should be sourced in the following order of preference:
(1) first from operating cash flows of the JV Group;
(2) second, from third party financiers utilising the JV Group’s borrowing capacity; and
(3) third, from capital calls to Shareholders in accordance with the remaining provisions of this clause 8.9.
(b) The Shareholders agree that the Companies will not call for any capital from the Shareholders unless the Companies have used all reasonable endeavours to raise sufficient funds from third party financiers (to the extent operating cash flows are insufficient) and there remains a funding shortfall.
(c) Unless the Shareholders agree otherwise in relation to any individual call, the parties must ensure that any call for capital:
(1) is approved by Unanimous Resolution of the Shareholders as a Major Fundamental Matter;
(2) is limited to the amount required to fund the relevant shortfall (as referred to in clause 8.9(b));
(3) (subject always to clause 8.9(f)) specifies the form in which capital is to be provided (being JV Shares, other securities or debt) and the key terms of such provision;
(4) is offered to each Shareholder on a pro-rata basis proportionate to its Shareholding Percentage and on the same terms; and
(5) specifies an agreed valuation basis for the purposes of any dilution of a Shareholder’s Shareholding Percentage in the circumstances contemplated by clause 8.10, or is made in accordance with clause 8.9(h).
(d) A call for capital must be made by notice in writing from the Companies to each Shareholder (given no later than 21 days after the date of approval of the relevant call, or in accordance with clause 8.9(h) where applicable) which confirms the details in clauses 8.9(c)(1) to 8.9(c)(5) above (or clauses 8.9(h)(3) to 8.9(h)(6) in the case of a call made under clause 8.9(h)) and specifies the date by which the capital call is to be satisfied, which shall be:
(1) no earlier than 30 days after the date of the notice; and
(2) a Business Day, (such a notice being a Valid Funding Notice)
(e) For the avoidance of doubt, no Shareholder has any obligation to fund in response to a Valid Funding Notice or other capital call. Where the Companies issue a Valid Funding Notice:
(1) to the extent either Shareholder contributes capital in response to the call within the time period specified in the Valid Funding Notice, the Companies must issue JV Shares ...
Further Funding. 10.1. Subject to the terms of this Agreement, the Board may from time to time, in order to enable the growth of the Business, determine the additional capital requirements of the Company.
10.2. If the Board determines that additional capital is required, then the financial needs of the Company should be met in priority by external financing raised from banks and financial institutions or any other Third Party, and as may be more specifically set out in the Business Plan. Such external financing will be on the most terms agreed by the Board, and without recourse to the Shareholders or to any of their respective Affiliates. It is hereby clarified that under no circumstances shall DTPL or any of its Affiliates be required to provide any security, commitment, comfort, guarantee or undertaking in respect of the debt availed by the Company under this Clause 10.
10.3. To the extent external financing required by the Company (whether anticipated or not under the Business Plan) is not available on reasonably acceptable commercial terms and such financing requirement is not capable of being met through the Company’s existing resources, the Senior Management Persons and the Board shall request the Shareholders to contribute additional capital, by subscribing to Equity Securities which shall be only issued through a ‘rights issue process’ under the Act (unless any other process is required to be followed under Applicable Law) (or any further securities that may be issued) (“Subsequent Issuance”), in proportion to the Equity Securities (calculated on a Fully Diluted Basis) held by them in the Company to enable them to maintain their shareholding. Notwithstanding anything to the contrary contained herein or in any Transaction Document, if a Shareholder is unable to, does not or fails to subscribe (“Non-subscriber”) as per this Clause 10.3 to the additional share capital, then the other Shareholder may subscribe to such additional capital or part thereof and dilute the shareholding of the Non-subscriber.
10.4. In the event of a Subsequent Issuance in accordance with the Act, DTPL shall be entitled to assign, in whole or in part, its respective entitlement, its right to subscribe to the Subsequent Issuance to its Affiliates, provided that at the time of such Subsequent Issuance, such Affiliate shall execute a Deed of Adherence in the format prescribed at Schedule V (Deed of Adherence). If the relevant DTPL Affiliate ceases to be an Affiliate of DTPL, all the securities he...
