Examples of Total Funding in a sentence
During the period commencing on the Commencement Date and continuing through and until the Total Funding Date (as defined below), the Company shall pay the Executive as compensation for his services an initial base salary at a gross annual rate of not less than $90,000.00.
The Financing Bonus will be Fifteen Thousand Dollars $15,000.00), payable no more than ten (10) days after the Total Funding Date.
The Sponsor estimates in good faith that the Total Funding Available to the Project Company (i) will be sufficient to carry out the Project in accordance with the Construction Milestone Schedule, including adequate contingency funds for identified Cost Overruns and (ii) equals or exceeds Total Project Costs.
In the event that the Total Funding Date occurs, the Company shall increase the Executive’s initial base salary to a gross annual rate of not less than $120,000.00 for a period of 2 years, and $120,000.00 subsequently thereafter.
The number of shares to be paid will be determined by multiplying the number of Units set forth in paragraph 1, above, by the Total Funding Percentage.