Common use of Overrun Equity Contributions to Borrower Clause in Contracts

Overrun Equity Contributions to Borrower. (a) Without limiting the Sponsor’s obligations under Section 2.2.1 or Article VII, and notwithstanding the release of Funded Overrun Equity Commitment Balance Security pursuant to Section 2.2.4, not later than the applicable Overrun Equity Contribution Date, each Equity Contributor shall cause its share of each Overrun Equity Contribution, in an amount equal to the product of (x) the Funded Overrun Equity Percentage for such Equity Contributor, and (y) the aggregate Overrun Equity Contributions required on the applicable Overrun Equity Contribution Date, to be made to the Borrower, provided that no Equity Contributor shall be obligated to make Overrun Equity Contributions in excess of its Individual Funded Overrun Equity Commitment Balance. To the extent an Equity Contributor is excused from making an Overrun Equity Contribution because it has reduced its Individual Funded Overrun Equity Commitment Balance to zero, the Sponsor shall make the Overrun Equity Contribution that the applicable Equity Contributor would have made but for the cap in Section 2.2.2.

Appears in 7 contracts

Samples: Equity Funding Agreement, Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc)

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