Initial Working Capital Contribution definition

Initial Working Capital Contribution means the Two Million Dollars ($2,000,000) payable by each of Patriot and TPL, in the aggregate amount of Four Million Dollars ($4,000,000), due upon the execution of this Operating Agreement.

Initial Working Capital Contribution shall have the meaning set forth in Section 6.2(a).

Initial Working Capital Contribution has the meaning ascribed to it in Section 1.3.

Examples of Initial Working Capital Contribution in a sentence

• On the date hereof, Patriot and TPL shall each make an Initial Working Capital Contribution to the Company of Two Million Dollars ($2,000,000), for an aggregate Initial Working Capital Contribution of Four Million Dollars ($4,000,000).

• If the Initial Working Capital Contribution and any subsequent cash Capital Contributions have not been sufficient to pay all liabilities to creditors and pay other Company costs incurred, including without limitation hard and soft costs incurred by the Diamond Member (other than compensation to Xxxxxxx X.

• In such event Whitehall will be treated as if it had (i) received distributions equal to the amount it would have received pursuant to Section 8.1(b) or 8.1(c) had Whitehall not foregone such distribution and (ii) made an Additional Capital Contribution in such amount (any such Additional Capital Contribution shall first be treated as part of the Initial Working Capital Contribution until the Initial Working Capital Contribution has been fully funded).

• The Diamond Member and the Grand Member shall each fund fifty percent (50%) of any amount or amounts of the Initial Working Capital Contribution requested from time to time by the Manager, within fifteen (15) days of such request.

• Buyer authorizes the Company to, and the Company will, immediately use a portion of the Initial Working Capital Contribution to retire the long-term and current debt of the Company as set forth on Schedules X-00, X-00, X-00 and C-15 hereto.

• By the end of the Escrow Period, the Buyer will make each of the Initial Cash Payment, the Stock Payment and the Warrant Payment to the Sellers and will provide the Initial Working Capital Contribution to the Company.

• The Initial Working Capital Contribution will be funded in cash at Closing via wire transfer to the Company’s operating bank account.

• The amount of the Initial Working Capital Contribution shall be specified in the purchase contract between Developer and the purchaser.

• As part of the Working Capital Funding Obligation, the Buyer will provide to the Company at Closing the Initial Working Capital Contribution of Four Hundred Seventy Thousand Dollars ($470,000).

• On the date hereof, Patriot and TPL shall each make an Initial Working Capital Contribution to the Company of *** for an aggregate Initial Working Capital Contribution of *** .

More Definitions of Initial Working Capital Contribution

Initial Working Capital Contribution means the *** payable by each of Patriot and TPL, in the aggregate amount of *** due upon the execution of this Operating Agreement.

Initial Working Capital Contribution means each of the Capital Contributions required by Section 5.1 to be made by the initial Members in cash, in order to pay organizational and other start-up expenses of the Company, and to serve as initial working capital, up to an aggregate total contributed by both Members not to exceed Five Hundred Thousand Dollars ($500,000).