Hardball Initial Contribution Sample Clauses

Hardball Initial Contribution. Hardball shall contribute Six Million Dollars ($6,000,000) (the “Hardball Initial Contribution”) to the City in connection with the construction and equipping of the Venue. On or before the date of groundbreaking for construction of the Venue, and as a condition thereto, the Hardball Initial Contribution shall either be paid in full by Hardball to City or Hardball shall provide evidence of adequate financing, which evidence of adequate financing shall be satisfactory to the City in its sole and absolute discretion, pursuant to which Hardball can advance the Hardball Initial Contribution in draws as applicable expenses are incurred. Notwithstanding the foregoing, in the event the Parties mutually agree in writing that Hardball will obtain from third parties equipment for the construction and equipping of the Venue, Hardball’s actual, direct, out-of-pocket costs for obtaining such equipment will be credited against the Hardball Initial Contribution; provided, however, in connection with such approval, the Parties shall also agree as to (i) the specific equipment, and related installation and other services to be provided by the third party with respect to such equipment, (ii) the identity of the third party equipment and service provider, (iii) the terms and conditions of such acquisition, including warranty and services terms, conditions and limitations; which terms and conditions shall not, unless approved by the City allow for installment payments of any such costs, (iv) Hardball’s cost to be credited to the Hardball Initial Contribution, and (v) such other matters as the Parties mutually agree to at the time of approval. For example, in the event the Parties mutually agree Daktronics is to provide the main Venue scoreboard, and the actual, direct, out-of-pocket cost to Hardball of such equipment is $2,000,000, provided the other conditions above are satisfied, the cash portion of the Hardball Initial Contribution payable to the City would be decreased by $2,000,000. If the amount of Hardball’s actual, direct, out-of-pocket costs for obtaining equipment by agreement pursuant to this Section IV(A)(1) is not determined as of the date Hardball’s cash payment is due under this Section IV(A)(1), the Parties’ agreement shall specify an estimated credit for such amount, and upon determination of the actual amount the Parties shall promptly make payment as needed to reconcile the difference, if any, between the estimate and the actual cost.
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Related to Hardball Initial Contribution

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Initial Capital Contribution The initial Capital Contribution of the Original Member as of the date of this Agreement will be $ .

  • Initial Capital Contributions The Partners have made, on or prior to the date hereof, Capital Contributions and have acquired the number of Class A Units as specified in the books and records of the Partnership.

  • Initial Capital Contribution and Ownership The Trust Beneficial Owner has paid or has caused to be paid to, or to an account at the direction of, the Trustee, on the date hereof, the sum of $15 (or, in the case of Notes issued with original issue discount, such amount multiplied by the issue price of the Notes). The Trustee hereby acknowledges receipt in trust from the Trust Beneficial Owner, as of the date hereof, of the foregoing contribution, which shall be used along with the proceeds from the sale of the series of Notes to purchase the Funding Agreement. Upon the creation of the Trust and the registration of the Trust Beneficial Interest in the Securities Register (as defined in the Trust Agreement) by the Registrar in the name of the Trust Beneficial Owner, the Trust Beneficial Owner shall be the sole beneficial owner of the Trust.

  • Capital Contributions Distributions 17 TABLE OF CONTENTS (continued)

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

  • Initial Capital Contribution of Trust Estate As of the date of the Original Trust Agreement, the Seller sold, assigned, transferred, conveyed and set over to the Owner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Seller, as of such date, of the foregoing contribution, which shall constitute the initial Trust Estate and shall be deposited in the Collection Account.

  • Members Capital Contributions a) Single-Member Capital Contributions (Applies ONLY if Single-Member): The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes. b) Multi-Member (Applies ONLY if Multi-Member): The Members have contributed the following capital amounts to the Company as set forth below and are not obligated to make any additional capital contributions:

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