Funding Call definition
Examples of Funding Call in a sentence
You expressly acknowledge that: (i) Purchaser maintains its principal office in the State of New York; (ii) the Funding Call and customer service will take place with Purchaser’s representatives in the State of New York; (iii) all funding to and payments from Merchant under this Agreement will be processed through Purchaser’s bank branches in New York; and (iv) the purchase and sale of Receivables pursuant to this Agreement shall take place in New York.
Each Member has paid to the Company the Initial Capital Contribution set forth on Exhibit A for such Member in cash within a reasonable time after execution of this Agreement or has provided, or will provide, services to the Company; provided, however that BCU shall pay the Initial Capital Contribution, from time to time, pursuant to the terms of the Company Subscription Funding Call Right.
ColumbiaGrid shall not use any such advance payment as an offset to any other Funder's Allocated Share of any Funding Call.
Any Funding Call, notice, or request made by a Party to any other Party required or permitted by this Agreement shall be made in writing and delivered by U.S mail and by e-mail to the person(s) identified in Attachment A to receive notice on behalf of such other Party at the address(es) specified for such person(s) in Attachment A.
ColumbiaGrid shall make each Funding Call to all Parties that are Funders as of the date of such call; provided that ColumbiaGrid shall only make an initial Funding Call to a New Funder pursuant to section 2.3.4 without a pro rata call to the other Funders.
Notwithstanding anything to the contrary in this Agreement, in no event shall any Purchaser be required to purchase Additional Preferred Units if the aggregate amount paid by such Purchaser for all Series A Preferred Units purchased by such Purchaser pursuant to this Agreement (taking into account the Additional Preferred Units subject to the pending Funding Call) exceeds or would exceed the sum of such Purchasers’ Commitment Amount.
ColumbiaGrid shall submit any Funding Call in writing and delivered by U.S mail and by e-mail to the persons set forth in Attachment A to this Agreement.
By the10th day of each month, or the preceding Friday if the 10th falls on a weekend, ColumbiaGrid shall notify each Funder of the balance in the Working Capital Account as of such notice and such Funder’s Allocated Share of such Funding Call.
Within the limits set by and subject to the provisions of this Agreement, the obligation of each Funder under this Agreement to pay its Allocated Share of each Funding Amount, as requested by a ColumbiaGrid Funding Call, is unconditional, cannot be terminated or rescinded, and is applicable whether or not such Funder thereafter withdraws as a Member of ColumbiaGrid.
At any time during the Term, any Funder may pay to ColumbiaGrid all or a portion of its Allocated Share of the Funding Amount prior to ColumbiaGrid making a Funding Call for such Funding Amount.