Working Capital Commitment. HLTT will contribute working capital as needed for the conduct of the Wound Care Business by HWC and/or PBI. HLTT will make the capital contributions to HWC, and HWC shall in turn make non-interest-bearing demand loans as needed by PBI to carry on its Wound Care Business. HLTT’s obligation to contribute working capital to HWC (for itself or for PBI) will terminate upon the earlier of these events: a) HWC is Cash Flow Positive. HWC will be considered “Cash Flow Positive” on the last day of any period of six consecutive months if the cash flow from operations realized by HWC for that six-month period, in accordance with generally accepted accounting principles, is positive. b) the aggregate capital contributions by HLTT to HWC equal Three Million Five Hundred Thousand Dollars ($3,500,000). c) HLTT shall have reasonably determined and notified PTG in writing that market conditions make it unlikely that HWC will be financially successful in the Wound Care Business (an “Abandonment”).
Appears in 4 contracts
Samples: Asset Purchase Agreement (Predictive Technology Group, Inc.), Asset Purchase Agreement (Healthtech Solutions, Inc./Ut), Operations Agreement (Predictive Technology Group, Inc.)
