Initial funding (including Additional Payment Sample Clauses
The 'Initial funding (including Additional Payment)' clause defines the obligations and procedures for providing the initial financial resources required under an agreement, including any supplementary payments that may be necessary. This clause typically outlines the timing, method, and amount of the initial payment, as well as the conditions under which additional funds must be provided, such as upon reaching certain milestones or incurring unforeseen costs. Its core practical function is to ensure that the project or contractual relationship is adequately funded from the outset, thereby reducing the risk of delays or disputes over payment responsibilities.
Initial funding (including Additional Payment. The Performing Subsidiary shall, on the Commencement Date, pay into the Compensation Funds Account an amount equal to the following (Initial Funding), calculated using the same methodologies and assumptions used in determining the Discounted Central Estimate, and to be set out in the Initial Report, being $184.3 million, which is comprised of:
(a) $211.0 million, being the sum of the following amounts:
(i) the Period Actuarial Estimate for the six months ending 31 March 2007, being $37.0 million;
(ii) plus the Period Actuarial Estimate for the Financial Year ending 31 March 2008, being $75.0 million;
(iii) plus the Period Actuarial Estimate for the Financial Year ending 31 March 2009, being $88.0 million;
(iv) plus an amount equal to the estimated reasonable Operating Expenses of the Trustee and the Liable Entities for the six months to 31 March 2007, being $3.3 million;
(v) plus a prepayment (the “Additional Payment”) equal to $7.7 million; and
(b) minus the value of the net assets of the Liable Entities as at 30 September 2006 determined in accordance with clause 9.10 and by any amounts (other than by way of loan) received by the Trustee or a Liable Entity from any member of the JHISE Group between 30 September 2006 and the Commencement Date (whether under clause 17 or otherwise).
Initial funding (including Additional Payment. The Performing Subsidiary shall, on the Commencement Date, pay into the Compensation Funds Account an amount equal to the following (Initial Funding), calculated using the same methodologies and assumptions used in determining the Discounted Central Estimate, and to be set out in the Initial Report, being $184.3 million, which is comprised of: