Required Reserves. The Required Reserves shall initially be funded upon the Second Equity Capital Contribution Closing in an aggregate total amount of $*****, must total such amount upon the close of business on December 31, 2009, and must total $***** immediately following the first Special Funded Distribution Date and the making of such first Special Funded Distribution. Thereafter, the Required Reserves shall be reduced to the extent set forth in this Schedule 8.2(b). The Required Reserves shall be comprised of the Clipper Reserve, the O&M Reserve and the SCPPA Cost Reserve each as set forth below, and subject to adjustment following the Second Equity Capital Contribution Date as provided below: The following definitions are used in the Schedule 8.2(b):
Appears in 2 contracts
Sources: Limited Liability Company Agreement (First Wind Holdings Inc.), Limited Liability Company Agreement (First Wind Holdings Inc.)