Initial Capital Call. In connection with the formation hereof, each Partner has contributed to the Partnership as its initial Capital Call ("Initial Capital Call") an amount relative to its respective Ownership Interest as set forth on the Counterpart Signature Page multiplied by $900,000. As Cellcom Corp. has contributed cash and services and is currently personally responsible to repay in connection with a certain loan from Astronet Corporation to fund the working capital needs of the System through June 30, 1988 in an aggregate amount of approximately $560,000, and estimates the Partnership will require the additional funding or advancing by the Partners of an amount approximately equal to $300,000 through September 30, 1988, Cellcom Corp. or any successor to Cellcom Corp.'s interest is not obligated to contribute additional amounts pursuant to the Initial Capital Call. Rather, such prior contributions or working capital advances assumed by Cellcom Corp. may be credited to Cellcom Corp.'s, or any successor to Cellcom Corp.'s interest, initial Capital Contribution to satisfy its obligation pursuant to the Initial Capital Call. Amounts contributed pursuant to the Initial Capital Call of all Parties shall be used first to reimburse Cellcom Corp. for amounts advanced and services performed by Cellcom Corp. or its affiliates (other than amounts credited against Cellcom Corp.'s Initial Capital Call) and amounts currently outstanding to third persons in connection with the Partnership's Business for which Cellcom Corp. is personally liable to repay, with the balance used to fund additional working capital needs of the Partnership. If in connection with any Capital Call, other than the Initial Capital Call, Cellcom Corp. or any successor to Cellcom's interest has advanced funds to the Partnership or in connection with the Partnership's Business, and such sum is outstanding, Cellcom Corp. or its successor may satisfy its obligation pursuant to any Capital Call by forgiving a similar amount of money owing to it.
Initial Capital Call. At the Closing, the Company may deliver to the Investor an Initial Capital Call Notice in an amount up to Three Hundred Thousand Dollars ($300,000.00), provided that at the Closing the Company must also deliver to the Investor an Initial Draw Notice in an amount not less than Three Hundred Thousand Dollars ($300,000.00). The amount of the Initial Capital Call and the amount of the Initial Advance shall not, in the aggregate, exceed Six Hundred Thousand Dollars ($600,000.00). The proceeds of the Initial Capital Call and the Initial Advance shall only be used for the purposes specified in Section 3.2(b) hereof.
Initial Capital Call. Pursuant to Section 4.2(c) of the Investment Agreement, and subject to the satisfaction by the Company of the conditions precedent to Closing set forth in the Investment Agreement, the Company may deliver to the Purchaser an Initial Capital Call at the Closing (as defined in the Investment Agreement). Upon satisfaction of the aforementioned conditions, and the delivery to the Purchaser by the Company of the Initial Capital Call Notice, the Purchaser shall deliver to the Company the amount requested in the Initial Capital Call Notice, and the Company shall deliver to the Purchaser a certificate or certificates representing the number of Common Shares purchased by the Purchaser, which number of shares shall be determined by dividing the amount requested in the Initial Capital Call Notice by the Purchase Price.
Initial Capital Call. The action of the Winning Partner in soliciting and receiving the initial Capital Call of $200.00 for each .99% interest to be applied according to this Agreement is hereby ratified, confirmed and approved by each signatory to this Agreement.
