Additional Required Funds Sample Clauses

Additional Required Funds. If additional capital is required, as determined by the Majority Vote of the Voting Members, each Member shall contribute such capital in proportion to the number of Units owned by each Member as compared to the total number of Units owned by all of the Members. If the Members make such agreed upon, additional Capital Contributions to the Company, their Capital Accounts shall be adjusted accordingly. If such additional Capital Contributions are made by the Members to the Company, additional Units shall be issued by the Company to such Members. The determination of the amount and type of Units to be issued shall be determined by the Manager taking into account the value of said Capital Contribution and the then fair market value of the underlying Company property determined immediately prior to the contribution. If any Member shall be unable to make the additional contribution determined by the Majority Vote of the Voting Members, the other Members shall have the right, but not the duty, to make such contributions, in proportion to the number of Units owned by them or as otherwise agreed. The Members agree that the sole remedy for failure to make an additional Capital Contribution as required under this Section 3.4 shall be their dilution of their ownership interest in the Company by the reason of the issuance of additional Units to the Members who have made such additional Capital Contributions.
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Additional Required Funds. (a) Notwithstanding the provisions of Sections 5.3, 5.5 and 5.8, in order to finance the capital requirements of the Partnership and its Subsidiaries and to facilitate the receipt by the Partnership and its Subsidiaries of secured third-party financing, St. Joe ▇▇▇agement and CNL Venture (each, a "Holder") have agreed to make lendings (individually, a "Lending" and collectively, "Lendings") to the Partnership under the Debentures from time to time from a date which is ten (10) days after the date of this Agreement until the Maturity Date (as defined hereinbelow) up to the maximum aggregate principal amount outstanding at any time of $30,000,000 (the "Maximum Commitment"); provided that in no event shall the amount in principal outstanding at any time from Lendings to the Partnership exceed $25,000,000 by St. Joe ▇▇▇agement (the "St. Joe ▇▇▇ding Obligation") and $5,000,000 by CNL Venture (the "CNL Funding Obligation") (the St. Joe ▇▇▇ding Obligation and the CNL Funding Obligation are sometimes referred to hereinbelow individually as a "Funding Obligation" and collectively as the "Funding Obligations"). (b) The Debentures shall be revolving, unsecured, fully subordinated obligations of the Partnership which shall bear interest at the rate per annum of 10%, 8% of which shall be payable on a quarterly basis in arrears and 2% of which shall accrue until the earlier of the maturity of the Debentures or the date prior to the stated maturity thereof on which the principal amounts of such Debentures are due and payable in full or otherwise paid in full (the "Accrued Interest Allocation"). Interest shall be computed on the basis of a year of 12 30-day months. The Accrued Interest Allocation shall be compounded annually. The Debentures shall mature on December 3, 2004 (the "Maturity Date"). The Partnership shall be permitted to receive Lendings under the Debentures upon fifteen (15) days' written notice to the Holders in minimum aggregate amounts of $1,000,000 (or a lesser amount necessary to fully fund a Debenture at the time of such Lending). Each Lending to be made hereunder shall be made by St. Joe ▇▇▇agement and CNL Venture in proportion to their respective Funding Obligations. For example, for a minimum aggregate Lending of $1,000,000, the St. Joe ▇▇▇ding Obligation would be $833,333 and the CNL Funding Obligation would be $166,667. In the event a Holder (the "Defaulting Holder") fails to satisfy its Funding Obligation with respect to a Lending (a "Funding Defa...
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Additional Required Funds. If additional capital is required, as determined by the General Partner, each Partner may, but shall not be required to, contribute such capital in proportion to the number of Units owned by each Partner as compared to the total number of Units owned by all of the Partners. If additional Capital Contributions are made by the Partners to the Partnership, additional Units (General Partnership Units or Limited Partnership Units, as the case may be) shall be issued by the General Partner to such Partners. The determination of the amount of Units to be issued shall be determined by the General Partner, taking into account the value of said Capital Contribution and the then net fair market value of the underlying Partnership property immediately before the contribution. If any Partner shall not make such additional contribution, the other Partners shall have the right, but not the duty, to make such contributions, in proportion to the number of Units owned by such Partner or as otherwise agreed, in exchange for additional Units. The Partners agree that the sole remedy for failure to make an additional Capital Contribution under this Section 3.3 shall be the dilution of their ownership interest in the Partnership by the reason of the issuance of additional Units to other Partners who have made such additional Capital Contributions.
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Related to Additional Required Funds

  • Additional Requirements As a condition precedent to the execution and Delivery, the registration of issuance, transfer, split-up, combination or surrender, of any ADS, the delivery of any distribution thereon, or the withdrawal of any Deposited Property, the Depositary or the Custodian may require (i) payment from the depositor of Shares or presenter of ADSs or of an ADR of a sum sufficient to reimburse it for any tax or other governmental charge and any stock transfer or registration fee with respect thereto (including any such tax or charge and fee with respect to Shares being deposited or withdrawn) and payment of any applicable fees and charges of the Depositary as provided in Section 5.9 and Exhibit B, (ii) the production of proof reasonably satisfactory to it as to the identity and genuineness of any signature or any other matter contemplated by Section 3.1, and (iii) compliance with (A) any laws or governmental regulations relating to the execution and Delivery of ADRs or ADSs or to the withdrawal of Deposited Securities and (B) such reasonable regulations as the Depositary and the Company may establish consistent with the provisions of the representative ADR, if applicable, the Deposit Agreement and applicable law.

  • Additional Federally Required Orders/Directives Both parties agree that they will comply with the following laws and directives, where applicable: 11.20.1 Executive Order 11061, as amended, which directs the Secretary of HUD to take all action which is necessary and appropriate to prevent discrimination by agencies that utilize federal funds. 11.20.2 Public Law 88-352, Title VI of the Civil Rights Act of 1964, which provides that no person in the United States shall, on the basis of race, color, national origin, or sex, be excluded from participation in, denied the benefits of, or subjected to discrimination under any program or activity which receives federal financial assistance. The Agency hereby extends this requirement to the Contractor and its private contractors. Specific prohibited discriminatory actions and corrective action are described in Chapter 2, Subtitle C, Title V of the Anti-Drug Abuse Act of 1988 (42 U.S.C. 19901 et. seq.). 11.20.3 Public Law 90-284, Title VIII of the Civil Rights Act of 1968., popularly known as the Fair Housing Act, which provides for fair housing throughout the United States and prohibits any person from discriminating in the sale or rental of housing, the financing of housing or the provision of brokerage services, including in any way making unavailable or denying a dwelling to any person because of race, color, religion, sex, or national origin. Pursuant to this statute, the Agency requires that the Contractor administer all programs and activities, which are related to housing and community development in such a manner as affirmatively to further fair housing. 11.20.4 The Age Discrimination Act of 1975, which prohibits discrimination on the basis of age. 11.20.5 Anti-Drug Abuse Act of 1988 (42 U.S.C. 11901 et. seq.). 11.20.6 HUD Information Bulletin 909-23 which is the following: 11.20.6.1 Notice of Assistance Regarding Patent and Copyright Infringement; 11.20.6.2 Clean Air and Water Certification; and,

  • Documents Required from Subscriber 3.1 The Subscriber must complete, sign and return to the Company an executed copy of this Subscription Agreement. 3.2 The Subscriber shall complete, sign and return to the Company as soon as possible, on request by the Company, any documents, questionnaires, notices and undertakings as may be required by regulatory authorities, and applicable law.

  • DEFENSE FEDERAL ACQUISITION REGULATION SUPPLEMENT CONTRACT CLAUSES 252.246-7000 MATERIAL INSPECTION AND RECEIVING REPORT (MAR 2008)

  • Operational Requirements The Client will adhere to the deadlines and other operational requirements set out in the Client Publications, to facilitate meeting the requirements of CSD’s, Third Party Agents and Market Participants.