Mandatory Contribution Conditions Sample Clauses

Mandatory Contribution Conditions. (i) The following conditions must be satisfied prior to the contribution of Antigua at the Mandatory Entity Interest Closing: (A) the memorandum of agreement, dated July 28, 2015 (the “MOA”) among BrownMcLennon, First Capital Real Estate Investment (“FCREI”) and the Government of Antigua and Barbuda (“GOAB”) shall have been amended to reflect that BrownMcLennon’s expected 24 units in the LLC (as defined in the MOA) have been transferred to FCREI in consideration for BrownMcLennon being engaged as an independent contractor, to act as broker for the Contributor Parties or their affiliates in connection with the sale of timeshare interests and/or other residential units for which BrownMcLennon would be entitled to a commission from FCREI and all performance dates shall have been extended by at least twelve (12) months; and (B) the conditions specified in Section 4A of the MOA (other than the conditions specified in Sections 4A(9) through, and including 4A(17)) shall have been satisfied or irrevocably waived in writing by GOAB and no new material conditions shall have been substituted therefor. (ii) The following condition must be satisfied prior to the contribution of Amarillo at the Mandatory Entity Interest Closing: The dispute between the Contributing Parties and Silverlake Park, LLC (the “Claimant”) pursuant to which the Claimant has attempted to transfer by quitclaim deed 75% of the Contributing Parties’ interest in Amarillo shall have been finally adjudicated or settled in favor of the Contributing Parties and such judgment or settlement shall indicate that the Contributing Parties have full ownership rights in Antigua that may be transferred to the Acquiror Parties free and clear of all Encumbrances (other than existing liens in favor of lenders arising prior to the Initial Closing) or other restrictions and no future payment or other obligation of the Acquiror Parties shall exist under such judgment or settlement. (iii) The following conditions must be satisfied by the Acquiror Parent prior to the first Mandatory Interest Closing: (1) the Articles of Incorporation of the Acquiror Parent shall have been amended and restated in the form of Exhibit E hereto, and (ii) all necessary corporate approvals shall have been obtained in order that the Transaction Shares issuable pursuant to Section 9.2(b) hereof shall be Acquiror Parent Common Stock.
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Mandatory Contribution Conditions

  • Equity Contributions Make, or permit any Significant Subsidiary to make, any equity contributions to any Unregulated Subsidiary; provided, however, that this Section 5.03(h) shall not restrict or otherwise apply to (i) any such equity contributions that are required by Applicable Law or court order or (ii) any intercompany advances made to any Unregulated Subsidiary (including, without limitation, pursuant to the Unregulated Money Pool Agreement) that are recharacterized by a court or other Governmental Authority as equity contributions.

  • 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.

  • Equity Contribution Prior to or substantially concurrently with the initial funding of the Loans hereunder, the Equity Contribution shall be consummated.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Contribution Deadline The deadline for making an IRA contribution is your tax return due date (not including extensions). You may designate a contribution as a contribution for the preceding taxable year in a manner acceptable to us. For example, if you are a calendar year taxpayer, and you make your IRA contribution on or before April 15, your contribution is considered to have been made for the previous tax year if you designate it as such. If you are a member of the Armed Forces serving in a combat zone, hazardous duty area, or contingency operation, you may have an extended contribution deadline of 180 days after the last day served in the area. In addition, your contribution deadline for a particular tax year is also extended by the number of days that remained to file that year’s tax return as of the date you entered the combat zone. This additional extension to make your IRA contribution cannot exceed the number of days between January 1 and your tax filing deadline, not including extensions.

  • City Contribution The City agrees to maintain health and dental benefits at present levels for the life of the Agreement.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.

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

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!