Member capital definition

Member capital means the assets that a member must provide by payment, transfer, or allocation of net savings to a cooperative as a condition of admission to or retention of membership and with respect to which the member has rights to dividends, redemption, or distributions on dissolution under this chapter.

Member capital means an amount equal to the sum of all the Members' Capital Account balances determined immediately prior to an allocation to the Members pursuant to Section 8.1(b) of any Disposition Gain or Disposition Loss, increased by the aggregate amount of Disposition Gain to be allocated to the Members pursuant to Section 8.1(b)(i) or decreased by the aggregate amount of Disposition Loss to be allocated to the Members pursuant to Section 8.1(b)(ii).

Member capital means with respect to each Member, the amount of such Member’s Capital Contributions to the Company as set forth on Exhibit A.

Examples of Member capital in a sentence

• Withdrawal Not Permitted Member Capital Contributions shall be made in full on admission to the Company.

• Immediately prior to a conversion of an LTIP Unit pursuant to Section 5.2(c), the LTIP Unitholder of such LTIP Unit shall be specially allocated items of Company gross income and gain for such Fiscal Year in an amount equal to the excess, if any, of (i) the Managing Member Capital Account Balance Per Common Unit over (ii) the Capital Account associated with the LTIP Unit that is to be converted.

• Immediately prior to (i) the occurrence of an Event of Dissolution, or (ii) a sale of all or substantially of the Company’s assets, items of Company gross income and gain shall also be specially allocated to LTIP Unitholders in respect of all LTIP Units until the Capital Account balance of each LTIP Unit equals the Managing Member Capital Account Balance Per Common Unit at that time.

• Member Capital Contributions shall be made in full on admission to the Company.

• All Member Capital Contributions made to the Company shall be made in total when becoming a Member.

• As of the date hereof, the Member have made previous Capital Contributions to the LLC which are reflected in the Member Capital account.

• Manager does not, in any way, guarantee the return of the Member' Capital Contributions or a profit for the Member from the operations of the Company.

• Distributions to such Member or a return of such Member’s Capital Account shall be made by the chief executive officer at such time as a distribution or a return of Member Capital Accounts is made to all Members.

• In connection with the review of the Final Closing Statement, the Member will make available to Buyer and its auditors or other advisors (if any) all records and work papers relating to the Member and the calculation of Member Costs, Member Capital Contributions and Adjusted Purchase Price that Buyer and its auditors or other advisors (if any) reasonably request in reviewing the Final Closing Statement.

• Xxxxx III President Date of Execution: December 31, 2002 EXHIBIT A Name and Address of Each Member Capital Contribution Number of Units Sharing Ratio Concord Processing, Inc.