Obligation to Fund. Notwithstanding any provision to the contrary contained herein, no later than the date of a Change of Control, the Bank shall fund a "Rabbi Trust" (as such term is described in Revenue Procedure 92-64) in the amount of the payment required under Section 4.4.2, with the trustee of such trust being designated by the Board in its sole and absolute discretion.
Obligation to Fund. In the event a Change in Control occurs, the performance of Employer’s obligations under this Section 14.2 will be secured by amounts deposited or to be deposited in a trust, an escrow account, or a separate account, as determined by the Compensation Committee of the Board in its reasonable judgment. Any failure by Employer to satisfy any of its obligations under this Section 14.2.5 will not limit the rights of Employee hereunder. Subject to the foregoing, Employee will have the status of a general unsecured creditor of Employer and will have no right to, or security interest in, any assets of Employer.
Obligation to Fund. If, for any respective month, funds in the Property Account are not sufficient to cover expenses specified in the approved Operating Plan or to be disbursed pursuant to Section 3.10 or Section 4.1 or 4.2, or those which have been approved in writing by Owner, Owner shall, within ten (10) days after receipt of written notice from Property Manager of the amount of the estimated insufficiency, deposit in the applicable Project Account an amount equal to such estimated shortfall. Manager shall have no liability whatsoever to fund the deficiency.
Obligation to Fund. Subject to Section 3.7(a)(ii), on any Capital Demand Date, each Limited Partner (and the General Partner, if applicable) shall contribute to the Partnership an amount equal to such portion of its Unfunded Capital Commitment as shall be specified by the General Partner in a Capital Call delivered in respect of such Capital Demand Date. Each Limited Partner (and the General Partner, if applicable) shall pay the Capital Contribution set forth in each Capital Call in full on or prior to the Capital Demand Date specified in such Capital Call, irrespective of any set-off, claim, counterclaim, defense or other right that any Limited Partner may have against the Partnership, the General Partner or any of its Affiliates, successors and assigns.
Obligation to Fund. All obligations of the City hereunder shall be subject to appropriation of the required funds and the collection of the levies therefore.
Obligation to Fund. Upon written notice by the Company pursuant to Section 1.7 hereof to borrow, and so long as no Event of Default has occurred and is continuing, Guidant shall have the absolute obligation to fund the Loan on the Disbursement Date in the amount requested in the Borrowing Notice.
Obligation to Fund. CEPCB’s ability to consummate the transactions contemplated hereby is not contingent on its ability to complete any public or private placement of securities prior to or on the Closing Date. CEPCB will have at the Closing Date on hand cash in an amount sufficient to pay in U.S. dollars the Purchase Price.
Obligation to Fund. The closing of the Purchasers' investment in WTM on the terms provided in the Subscription Agreement and in this Term Sheet and their obligations to fund their commitments as provided therein and herein will be subject only to the completion of the Transactions, including the closing of the acquisition of CGU pursuant to the terms and conditions of the Stock Purchase Agreement, the consummation of Financing on the terms and conditions set forth in the Commitment Letter and the delivery by WTM of Preferred Stock and of a Shareholders Agreement executed by WTM, in each case reasonably reflecting the terms of this term sheet. The Stock Purchase Agreement and the Commitment Letter will not be amended and the closing conditions contained therein will not be waived in any material respect without the consent of each of the Purchasers.
Obligation to Fund. The Bank shall not be obligated to fund all or any portion of the Loan unless and until the following conditions have been satisfied:
Obligation to Fund. Except as provided below, MuniMae shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. Prior to, but in connection with, the consummation of any Change in Control (as defined in that certain Employment Agreement by and between MuniMae and Xx. Xxxxxx entered into on even date herewith), MuniMae shall contribute assets to the Trust that have a fair market value equal to the balance of the Account as of the date of the consummation of the Change in Control. Any assets set aside or purchased by MuniMae to provide for its obligations under this Agreement, including any asset transferred to the Trust, shall be subject to the claims of MuniMae's general creditors, and Xx. Xxxxxx shall not be deemed to have any lien nor right, title or interest in or to any such assets.
