Common use of Permitted Additional Junior Capital Clause in Contracts

Permitted Additional Junior Capital. Any additional junior capital may be made in the same form as permitted for the Capital Infusion (“Permitted Additional Junior Capital”) and shall be used initially to replenish the Special Account up to Fifteen million Dollars ($15,000,000) if the aggregate amount of the Capital Infusion before the Equity Outside Date is Fifteen million Dollars ($15,000,000) or less, and up to Twenty million Dollars ($20,000,000), if the aggregate amount of the Capital Infusion before the Equity Outside Date is in excess of Fifteen million Dollars ($15,000,000). Permitted Additional Junior Capital in excess of amounts required to replenish the Special Account shall be treated as available cash for the purposes of calculating Excess Cash.

Appears in 2 contracts

Samples: Supplemental Agreement (TBS International PLC), Supplemental Agreement (TBS International PLC)

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Permitted Additional Junior Capital. Any additional junior Additional capital may be made infusions in the same form as permitted for the Capital Infusion New Corporate Guarantor (“Permitted Additional Junior Capital”) may be made in any form permitted for the Capital Infusion and shall be used initially to replenish the Special Account Accounts up to Fifteen million Dollars ($15,000,000) 15,000,000 if the aggregate amount of the Capital Infusion before the Equity Outside Date is Fifteen million Dollars ($15,000,000) 15,000,000 or less, and up to Twenty million Dollars ($20,000,000), if the aggregate amount of the Capital Infusion before the Equity Outside Date is in excess of Fifteen million Dollars ($15,000,000). Permitted Additional Junior Capital in excess of amounts required to replenish the Special Account Accounts shall be treated as available cash for the purposes of calculating Excess Cash.

Appears in 1 contract

Samples: Amending and Restating Agreement (TBS International PLC)

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Permitted Additional Junior Capital. Any additional junior capital may be made in the same form as permitted for the Capital Infusion (“Permitted Additional Junior Capital”) and shall be used initially to replenish the Special Account up to Fifteen million Dollars ($15,000,000) if the aggregate amount of the Capital Infusion before the Equity Outside Date is Fifteen million Dollars ($15,000,000) or less, and up to Twenty million Dollars ($20,000,000), if the aggregate amount of the Capital Infusion before the Equity Outside Date is in excess of Fifteen million Dollars ($15,000,000). Permitted Additional Junior Capital in excess of amounts required to replenish the Special Account shall be treated as available cash for the purposes of calculating Excess Cash.

Appears in 1 contract

Samples: Supplemental Agreement (TBS International PLC)

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