Additional Contributions of Capital. (a) If either Member reasonably determines that funds are needed to fund one or more expenditures that have been approved for payment in an Approved Budget or otherwise and that such expenditures (i) cannot be paid from Gross Receipts (including Reserves) from the operations of the Company or from Capital Transactions, and (ii) are not covered by a Completion Guaranty or an Operating Deficit Guaranty, then, either Member may issue a Funding Notice setting forth the amount of funds being requested (the "Additional Capital Requested Amount"). Within twenty (20) Business Days following the date of receipt of the Funding Notice, each Member shall advance to the Company as a Contribution such Member's Proportionate Share of the Additional Capital Requested Amount. Any funds advanced by the Members to the Company pursuant to this Section shall be referred to as "Additional Capital" and shall constitute additional Contributions to the Company.
Additional Contributions of Capital. Subject in all events to the requirement of Section 6.4, after the Initial Cash Capital Contributions are made, if the Managing Member and Operating Member, in good faith, reasonably determine that the Project requires additional capital, the Managing Member shall deliver notice thereof to the Members (the “Capital Call Notice”) in the form of Exhibit C, setting forth the amount and purpose of the additional funds required (the “Additional Capital Contribution”). If the Additional Capital Contribution is approved by the Members as a Major Event, within five (5) Business Days of such Capital Call Notice, each Member shall then contribute its Proportionate Share of the Capital Contribution requested in the Capital Call Notice. The Members shall not be required to make any Additional Capital Contributions to the Company other than as set forth in this Article III.
Additional Contributions of Capital. The Parties acknowledge that the initial total value of the Shares of the Corporation equals the sum of NINE MILLION TWO HUNDRED AND THIRTY-ONE THOUSAND, THREE HUNDRED AND NINETY-THREE DOLLARS AND FORTY CENTS (US$9,231,393.40), corresponding to the sum of FOUR MILLION SIX HUNDRED AND FIFTEEN THOUSAND SIX HUNDRED AND NINETY-SIX DOLLARS AND SEVENTY CENTS (US$4,615,696.70), with regard to their respective two hundred and fifty (250) Shares of the Corporation. The Parties are compelled to make the additional contributions of capital to the Corporation, in accordance with the detailed schedule of the additional contributions referred to in Section 6.4 of this Agreement. In the event that the Board of Directors should consider it necessary or convenient to require the Parties to make additional contributions of capital to the Corporation (whether through cash contributions, contributions in kind, shareholder loans, external financing, or any other method), the grounds shall be stated in a resolution, , which must be approved by all the Board Members of the Corporation. Such resolution shall establish the sum of the contribution of each of the Parties (which must be proportional to its shareholding) and shall set the term that the Parties shall have to make such contribution or, in the event of the nonpayment of all or part of such contribution, the term and form in which they must notify the Corporation and the other Party of such situation. In the event that one of the Parties (the “Defaulting Party”) notifies the other Party that it will not make all or part of the contribution required by the Board of Directors, or if the Defaulting Party does not make all or part of the required contribution during the term set out for such effects by the Board of Directors, the other Party (the Non-Defaulting Party) may, as soon as possible and in every event before a term of SIXTY (60) calendar days, starting as of the date on which it receives such notice, or as of the date on which the contribution should have been made, whichever should occur first, and once it has made the corresponding contribution of capital, carry out one of the following options: [#] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Additional Contributions of Capital. (a) If either Member reasonably determines that funds are needed to fund one or more expenditures that have been approved for payment in an Approved Budget or otherwise and that such expenditures cannot be paid from Gross Receipts (including Reserves) from the operations of the Company or from Capital Transactions, either Member may issue a Funding Notice setting forth the amount of funds being requested (the "Additional Capital Requested Amount"). Within twenty (20) Business Days following the date of receipt of the Funding Notice, each Member shall advance to the Company as a Contribution such Member's Proportionate Share of the Additional Capital Requested Amount. Any funds advanced by the Members to the Company pursuant to this Section shall be referred to as "Additional Capital" and shall constitute additional Contributions to the Company.
