K-Resin Contribution Sample Clauses

K-Resin Contribution. (a) Phillips shall make a cash adv▇▇▇▇ ▇▇ the Company that may be either repaid in part to Phillips or added to and treat▇▇ ▇▇ ▇▇rt of the capital contribution that Phillips and its Affiliates ar▇ ▇▇▇▇▇▇ at the Closing, in any case, as set forth in this Section 6.19(a). At Closing, Phillips shall advance to th▇ ▇▇▇▇▇ny $70 million, subject to adjustment depending on the calendar month by which the Company has produced at the K-Resin Plant (and/or Designated Replacement Facilities) and sold into the market an aggregate of 143 million pounds of K-Resin, of which at least 114 million pounds must be of prime quality (the "Target Quantities") and subject to a maximum cap of $109 million. No adjustment shall be due if Target Quantities are achieved later than November 30, 2001 but prior to the close of business on December 31, 2001, and in such event the entire advance shall be added to Phillips' capital contributio▇ ▇▇ ▇▇e Company. For each calendar month prior to December 2001 by which Target Quantities have been achieved, Phillips' advance shall be rep▇▇▇ ▇▇ $3.2 million and the balance of the advance shall be treated as a capital contribution to the Company. If it is determined that the Target Quantities have not been achieved by December 31, 2001, then the entire advance shall be treated as a capital contribution to the Company and, on the tenth business day of each calendar month after December 2001 until Target Quantities have been achieved, Phillips shall make an additio▇▇▇ ▇▇▇ital contribution of $3.2 million to the Company; provided that no contribution will be due after December 2002 even if Target Quantities have not been achieved by December 31, 2002. (b) In addition to the capital contribution set forth in Section 6.19(a), Phillips shall make a capital ▇▇▇▇▇▇▇▇tion to the Company equal in amount to the tax-adjusted shortfall (the "Tax-Adjusted Shortfall") from the Projected K-Resin EBITDA for the period commencing on the Closing Date and ending on the earlier of (i) December 31, 2002 or (ii) six months after
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Related to K-Resin Contribution

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Investment of Contributions At the direction of the Designated Beneficiary (or the direction of the Depositor or the Responsible Individual, whichever applies) the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a custodial account investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Designated Beneficiary (or the Depositor or Responsible Individual), and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Designated Beneficiary.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Defined Contribution Plan A plan under which Employee accounts are maintained for each Participant to which all contributions, forfeitures, investment income and gains or losses, and expenses are credited or deducted. A Participant’s benefit under such plan is based solely on the fair market value of his or her account balance.

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.