Common use of Operating Deficit Guaranty Clause in Contracts

Operating Deficit Guaranty. Feld hereby guarantees Feld shall advance to or for the account of ▇▇▇ Company amounts equ▇▇ ▇o all Operating Deficits, at such time as such Operating Deficits occur ("Operating Deficit Payments"). Feld shall make Operating Deficit Payments required of him by the d▇▇▇ required to avoid a default under Company obligations, including without limitation the Construction Loan and obligations to trade creditors. In any event, all Operating Deficits shall be paid by Feld in full prior to the Final Closing Date. All Operating Defici▇ ▇▇yments made to the Company shall be non-reimbursable payments, except to the extent that, subsequent to the making of any such Operating Deficit Payment by Feld, there is sufficient Net Operating Income prior to the earlies▇ ▇▇ the Final Closing Date, the Outside Date or the date of the Removal of Feld by WPHC to reimburse Feld for the same. In no event, shall th▇ ▇▇pital Account of Feld ▇▇ ▇ffected by any Operating Deficit Payments made by Feld. N▇▇▇▇thstanding anything to the contrary herein, upon the Re▇▇▇▇l of Feld, Feld shall not have any obligation hereunder to fund Operatin▇ ▇▇fi▇▇▇▇ incurred after the date of his Removal.

Operating Deficit Guaranty. Feld hereby guarantees Feld shall advance sha▇▇ ▇dvance to or for the account of th▇ ▇▇▇ count of the Company amounts equ▇▇ ▇o equal to all Operating Deficits, at such time as such Operating Deficits occur ("Operating Deficit Payments"). Feld shall make Operating Deficit Defi▇▇▇ Payments required of him by the d▇▇▇ date required to avoid a default under Company obligations, including without limitation the Construction Loan and obligations to trade creditors. In any event, all Operating Deficits shall be paid by Feld in full prior to the Final Fin▇▇ Closing Date. All Operating Defici▇ ▇▇yments Deficit Payments made to the Company shall be non-reimbursable payments, except to the extent that, subsequent to the making of any such Operating Deficit Payment by Feld, there is sufficient Net Operating O▇▇▇▇ting Income prior to the earlies▇ ▇▇ earliest of the Final Closing Date, the Outside Date or the date of the Removal of Feld by WPHC to reimburse Feld for ▇▇▇ the same. In no event, shall th▇ ▇▇pital ▇ll the Capital Account of Feld be affected by any Operati▇▇ ▇ffected by any Operating Deficit Payments made by Feld. NNotwithstanding anything ▇▇▇▇thstanding anything to ▇ the contrary herein, upon the Re▇▇▇▇l Removal of Feld, Feld shall not have any obligation o▇▇▇▇at▇▇▇ hereunder to fund Operatin▇ ▇▇fi▇▇▇▇ Operating Deficits incurred after the date of his Removal.