Working Capital Contribution. The Shareholders are desirous of as quickly as possible entering into a contract or contracts for the start-up of Agreed Construction at the Channahon Facility. UGE has pre-existing relationships with AMS and Block Electric, and other reputable contractors with familiarity and working knowledge of the Channahon facility. As UGE’s working capital contribution and prior to obtaining Project Financing, UGE at its own cost and expense shall perform the following:
(a) Negotiate and coordinate with DeNovo Global Technologies, Inc. (“De Novo”) to minimize engineering expense, maximize in field placements and generate the lowest cost infra-structure placement with complete “as-built” drawings; and
(b) assist DeNovo in marking equipment for removal, refurbishing and determining demolition situs, status and schedule and, if feasible complete plans for a first phase capable of producing approximately 12 million gallons per year capacity using existing reactors and equipment, and
(c) arrange for AMS to commence demolition and basic to Equipment relocation at the site; and
(d) arrange for Block Electric to start testing and ringing out needed circuits and placing transmitters and otherwise providing the capability for a revise electrical plan, and
(e) negotiate contracts and take all planning and implementation action needed for the acquisition of glycerin feedstock, conversion to technical grade glycerin and the sale of such glycerin, and
(f) work with De Novo, Block, AMS and other contractors to obtain a final cost estimate for the Agreed Improvements, such that the estimate will be sufficient for Project Financing purposes, and
(g) be making their Best Efforts to obtain a commitment for Project Financing. It is the Shareholder’s specific intention that this in-kind, working capital advance made available by UGE will be repaid as a first priority from any Project Financing, but shall be at risk if for any reason the Channahon Facility fails to become operational or the project is otherwise terminated or abandoned by the Company. Upon, completion of all the above, UGE shall receive two (2) shares in the Company); and
Working Capital Contribution. NBGV and APOTHIO agree to contribute those assets and funds for specified operations as set forth on Schedule A, as budgeted by the Managers, to be used as working capital for the first year of the Company’s existence, commencing on the date of the Company’s formation (the “Working Capital Contribution”). The Working Capital Contribution shall be made pursuant to an “Annual Budget” adopted by the Managers in accordance with Section 3.7. Any contribution made by NGBV for working capital in excess of those amounts specified on Schedule A shall be considered a loan by NBGV to the Company subject to the provisions of Section 4.3(g). In the event that the Company requests additional contributions, which would be treated as loans pursuant to this Section 4.3(g), the terms of such loans shall be approved by a Majority in Interests.
Working Capital Contribution. Cadiz shall have deposited into the Cash Account, as a Capital Contribution to Borrower, the Cadiz Working Capital Contribution Amount.
Working Capital Contribution. Simultaneously with the Closing (or at such other time as the parties hereto may reasonably agree), in order to satisfy net capital requirements applicable to Xxxxxx, Eastbrokers will provide Xxxxxx with $1.5 million in working capital in the form of a single lump-sum payment and the Xxxxxx Members and Special Members may withdraw capital from Xxxxxx up to an aggregate amount equal to $1.5 million.
Working Capital Contribution. Parent shall contribute at least $2,000,000 cash to the working capital of the Company within 180 days of the Closing. Parent, at its sole discretion, may decide the form of this cash contribution.
Working Capital Contribution. A working capital contribution equal to the aggregate of two (2) months of the then current maintenance shall be paid at closing to the Condominium Association and the Shared Facilities Owner. This contribution shall be determined at time of closing and will not be credited against regular assessments. This capital contribution may be used for purposes of reimbursing Seller for utility deposits, prepaid insurance premiums and other operating expenses.
Working Capital Contribution. At or prior to the Closing, NM shall have delivered $1.1 million to Logicorp for working capital purposes.
Working Capital Contribution. Member and Company agree to contribute those assets and funds for specified operations as set forth on Schedule A, as budgeted by the Managers, to be used as working capital for the first year of the Company’s existence, commencing on the date of the Company’s formation (the “Working Capital Contribution”). The Working Capital Contribution shall be made pursuant to an “Annual Budget” adopted by the Managers in accordance with Section 3.7. Any contribution made by Member for working capital in excess of those amounts specified on Schedule A shall be considered a loan by Member to the Company subject to the provisions of Section 4.3(g). In the event that the Company requests additional contributions, which would be treated as loans pursuant to this Section 4.3(g), the terms of such loans shall be approved by a Majority in Interests.
Working Capital Contribution. NBGV agrees to contribute $2,000,000, over a two-year period as budgeted by the Managers, to be used as working capital for the first two (2) years of the Company’s existence, commencing on the date of the Company’s formation (the “Working Capital Contribution”). The first $150,000 of Working Capital Contribution made by NBGV shall be paid to Hydro Dynamics, Inc. (“HD”) as payment owed by EcoX to HD pursuant to a certain license agreement between EcoX and HD. The Working Capital Contribution shall be made pursuant to an “Annual Budget” adopted by the Managers in accordance with Section 3.7. Any contribution made by NGBV for working capital in excess of $2,000,000 shall be considered a loan by NBGV to the Company subject to the provisions of Section 4.3(g) and the consent of a Majority in Interests. Notwithstanding the above, NBGV shall have no obligation to fund any amount in excess of the $2,000,000 Working Capital Contribution. In the event that the Company requests additional contributions, which would be treated as loans pursuant to this Section 4.3(g), the terms of such loans shall be approved by a Majority in Interests.
Working Capital Contribution. 12 3.4 FURTHER ASSURANCES; POST-CLOSING COOPERATION.......................................................12
