{"component": "clause", "props": {"groups": [{"snippet": "A Member\u2019s Capital Commitment shall mean the amount that such Member has agreed to contribute to the capital of the Company.", "snippet_links": [{"key": "a-member", "type": "definition", "offset": [0, 8]}, {"key": "agreed-to", "type": "clause", "offset": [73, 82]}, {"key": "capital-of-the-company", "type": "clause", "offset": [101, 123]}], "size": 14, "samples": [{"hash": "jBgQqy49Rgi", "uri": "/contracts/jBgQqy49Rgi#capital-commitment", "label": "Operating Agreement", "score": 25.5119781494, "published": true}, {"hash": "bt7O6Fipfvg", "uri": "/contracts/bt7O6Fipfvg#capital-commitment", "label": "Operating Agreement", "score": 25.5119781494, "published": true}, {"hash": "7dRVPN33uPu", "uri": "/contracts/7dRVPN33uPu#capital-commitment", "label": "Operating Agreement", "score": 25.491443634, "published": true}], "hash": "c9fdef3368c9717c7bf7254492b878c4", "id": 1}, {"snippet": "(a) Subject to Member Approval or Prior Manager 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"Each Cash Investor has, and will have on the Closing Date and on any Subsequent Payment Date, cash available to it in an amount sufficient to make its Initial Cash Contribution or Subsequent Cash Contribution, as the case may be, in accordance with the terms of Article 2.", "snippet_links": [{"key": "cash-investor", "type": "definition", "offset": [5, 18]}, {"key": "the-closing-date", "type": "clause", "offset": [41, 57]}, {"key": "subsequent-payment-date", "type": "definition", "offset": [69, 92]}, {"key": "available-to", "type": "definition", "offset": [99, 111]}, {"key": "initial-cash-contribution", "type": "clause", "offset": [151, 176]}, {"key": "the-case", "type": "definition", "offset": [213, 221]}, {"key": "in-accordance-with", "type": "definition", "offset": [230, 248]}, {"key": "terms-of", "type": "definition", "offset": [253, 261]}, {"key": "article-2", "type": "clause", "offset": [262, 271]}], "size": 4, "samples": [{"hash": "k0O4p4dSfuo", "uri": 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"Preferred Stock Purchase Agreement (Triton PCS Holdings Inc)", "score": 18.0, "published": true}], "hash": "f3493d18ee72146a2834077388220462", "id": 7}, {"snippet": "3 Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1", "snippet_links": [], "size": 3, "samples": [{"hash": "kkMZqEEQebC", "uri": "/contracts/kkMZqEEQebC#capital-commitment", "label": "Operating Agreement (Epitope Inc/Or/)", "score": 18.0, "published": true}, {"hash": "dW5AFg4pMtR", "uri": "/contracts/dW5AFg4pMtR#capital-commitment", "label": "Operating Agreement (Agritope Inc)", "score": 18.0, "published": true}, {"hash": "7uUMK8Gz72B", "uri": "/contracts/7uUMK8Gz72B#capital-commitment", "label": "Operating Agreement (Agritope Inc)", "score": 18.0, "published": true}], "hash": "7482b15a7ee390a9241252733db0eb3c", "id": 8}, {"snippet": "As defined in Section 3.1.", "snippet_links": [{"key": "section-31", "type": 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You agree to purchase Interests (up to the amount of your Undrawn Commitment, as defined below) each time the Fund delivers a drawdown notice, which will be delivered (including by email) in respect of such Commitment at least 10 calendar days prior to the required funding date (\u201ca Capital Call Deadline\u201d) (except that an initial funding may be required immediately upon the Initial Closing Date (as defined below). New Interests will be issued on each Drawdown Date in respect of such drawdown. A \u201cDrawdown Date\u201d is each date on which an Interestholder purchases Interests from the Fund, and the Fund issues Interests to an Interestholder.\na. The first date on which the Fund accepts capital commitments to purchase Interests, other than from the Initial Interestholder, is referred to as the \u201cInitial Closing Date.\u201d The first date on which Interests are issued (other than to the Initial Interestholder) is referred to herein as the \u201cInitial Issuance Date.\u201d\nb. Interests will initially be issued at a price per Interest of $20.00. Interests issued following the Initial Issuance Date will generally be issued at a per Interest price equal to the then-current net asset-value (\u201cNAV\u201d) per Interest. For purposes of this calculation, the NAV per Interest may be based on the NAV per Interest calculated at the end of the most recent calendar quarter prior to the date of the applicable drawdown notice or issuance date or as otherwise determined by the Board of Managers in accordance with the Fund\u2019s valuation policy, subject to the limitations of Section 23 under the Investment Company Act (which generally prohibits the Fund from issuing Interests at a price below the then-current NAV, subject to certain exceptions).\nc. The Fund may hold, and expects to hold, a number of closings subsequent to the Initial Closing Date (each date on which a subsequent closing is held, a \u201cSubsequent Closing Date\u201d).\nd. If your Commitment is accepted on any Subsequent Closing Date, you shall be required to purchase from us, on no less than 10 calendar days\u2019 prior notice, a number of Interests with an aggregate purchase price necessary to ensure that, upon payment of the aggregate purchase price for such Interests, your contributed capital percentage will be equal to that of each prior Interestholder (other than an affiliate of GS, a Defaulting Interestholder or an Interestholder whose Commitment was accepted on a Subsequent Closing Date and that has not yet made such a purchase).\ne. At each Drawdown Date following any Subsequent Closing Date, all investors, including investors whose Commitments were accepted on such Subsequent Closing Date, shall purchase Interests in accordance with the standard provisions for Drawdown Dates described below.", "snippet_links": [{"key": "you-agree-to", "type": "clause", "offset": [0, 12]}, {"key": "equal-to", "type": "definition", "offset": [64, 72]}, {"key": "to-the-fund", "type": "definition", "offset": [122, 133]}, {"key": "by-the-fund", "type": "clause", "offset": [151, 162]}, {"key": "the-terms-and-conditions", "type": "definition", "offset": [184, 208]}, {"key": "undrawn-commitment", "type": "definition", "offset": [285, 303]}, {"key": "drawdown-notice", "type": "definition", "offset": [353, 368]}, {"key": "by-email", "type": "clause", "offset": [405, 413]}, {"key": "in-respect-of", "type": "definition", "offset": [415, 428]}, {"key": "prior-to-the", "type": "clause", "offset": [471, 483]}, {"key": "required-funding-date", "type": "definition", "offset": [484, 505]}, {"key": "capital-call", "type": "clause", "offset": [510, 522]}, {"key": "initial-funding", "type": "clause", "offset": [550, 565]}, {"key": "the-initial-closing-date", "type": "clause", "offset": [599, 623]}, {"key": "new-interests", "type": "clause", "offset": [644, 657]}, {"key": "issued-on", "type": "clause", "offset": [666, 675]}, {"key": "first-date", "type": "definition", "offset": [876, 886]}, {"key": "commitments-to-purchase", "type": "clause", "offset": [921, 944]}, {"key": "initial-issuance-date", "type": "definition", "offset": [1164, 1185]}, {"key": "price-per", "type": "definition", "offset": [1231, 1240]}, {"key": "following-the", "type": "definition", "offset": [1278, 1291]}, {"key": "interest-price", "type": "definition", "offset": [1348, 1362]}, {"key": "net-asset", "type": "definition", "offset": [1389, 1398]}, {"key": "for-purposes-of-this", "type": "clause", "offset": [1427, 1447]}, {"key": "based-on", "type": "clause", "offset": [1489, 1497]}, {"key": "at-the-end-of-the", "type": "clause", "offset": [1530, 1547]}, {"key": "most-recent", "type": "definition", "offset": [1548, 1559]}, {"key": "calendar-quarter", "type": "clause", "offset": [1560, 1576]}, {"key": "date-of", "type": "clause", "offset": [1590, 1597]}, {"key": "the-applicable", "type": "clause", "offset": [1598, 1612]}, {"key": "the-board-of-managers", "type": "clause", "offset": [1676, 1697]}, {"key": "in-accordance-with", "type": "definition", "offset": [1698, 1716]}, {"key": "valuation-policy", "type": "definition", "offset": [1728, 1744]}, {"key": "subject-to-the", "type": "clause", "offset": [1746, 1760]}, {"key": "investment-company-act", "type": "definition", "offset": [1797, 1819]}, {"key": "current-nav", "type": "definition", "offset": [1905, 1916]}, {"key": "certain-exceptions", "type": "clause", "offset": [1929, 1947]}, {"key": "a-number", "type": "definition", "offset": [1993, 2001]}, {"key": "subsequent-to-the", "type": "clause", "offset": [2014, 2031]}, {"key": "subsequent-closing-date", "type": "definition", "offset": [2106, 2129]}, {"key": "your-commitment", "type": "clause", "offset": [2139, 2154]}, {"key": "prior-notice", "type": "definition", "offset": [2276, 2288]}, {"key": "number-of-interests", "type": "clause", "offset": [2292, 2311]}, {"key": "to-ensure", "type": "clause", "offset": [2355, 2364]}, {"key": "purchase-price-for", "type": "clause", "offset": [2401, 2419]}, {"key": "contributed-capital-percentage", "type": "definition", "offset": [2441, 2471]}, {"key": "affiliate-of", "type": "definition", "offset": [2538, 2550]}, {"key": "a-purchase", "type": "definition", "offset": [2694, 2704]}, {"key": "all-investors", "type": "clause", "offset": [2771, 2784]}, {"key": "provisions-for", "type": "clause", "offset": [2928, 2942]}, {"key": "drawdown-dates", "type": "clause", "offset": [2943, 2957]}], "size": 7, "samples": [{"hash": "it0r6yAuc4D", "uri": "/contracts/it0r6yAuc4D#capital-commitment", "label": "Subscription Agreement (Goldman Sachs Private Markets Fund 2018 (A) LLC)", "score": 29.2299785614, "published": true}, {"hash": "5eQPYeSL8nH", "uri": "/contracts/5eQPYeSL8nH#capital-commitment", "label": "Subscription Agreement (Goldman Sachs Private Markets Fund 2018 LLC)", "score": 29.2299785614, "published": true}, {"hash": "3IzMbCuWLbx", "uri": "/contracts/3IzMbCuWLbx#capital-commitment", "label": "Subscription Agreement (Goldman Sachs Private Markets Fund 2018 (B) LLC)", "score": 29.2299785614, "published": true}], "hash": "5fee5b0aaae6ca01622f81e6d4d8784a", "id": 4}, {"snippet": "(i) Subject to the terms and conditions hereof, the Unitholder hereby agrees to make a Capital Commitment equal to an aggregate amount set forth on Schedule A (the \u201cCapital Commitment\u201d) in exchange for the issuance by the Company of an aggregate of Class C Common Units and Class D Common Units set forth on Schedule A (the \u201cSubscribed Units\u201d). One hundred percent (100%) of the Unitholder\u2019s Capital Commitment attributable to its Class C Common Units shall be due and payable at the time of the Unitholder\u2019s admission to the Company. All payments of the Unitholder\u2019s Capital Commitment with respect to Class D Common Units shall be made by wire transfer of immediately available funds pursuant to instructions provided by the Company in accordance with the terms of the LLC Agreement. All references herein are to United States Dollars. The Unitholder acknowledges that the Subscribed Units will be subject to restrictions on transfer as set forth in the LLC Agreement.\n(ii) The Unitholder hereby ratifies, adopts and accepts the LLC Agreement. The Unitholder hereby agrees that, if Unitholder is admitted to the Company pursuant to Section 1(a), Unitholder shall be bound by the terms of the LLC Agreement and shall duly satisfy all of the Unitholder\u2019s obligations arising thereunder. Without limitation on the preceding sentence, in the event the Unitholder fails to make payments in respect of its Capital Commitment when due, the Unitholder shall be subject to strict enforcement of the default provisions set forth in the LLC Agreement.\n(iii) If the IPO Closing has not occurred by December 31, 2020, then the Company will promptly redeem the Unitholder\u2019s Class C Common Units issued pursuant to Section 1(a)(i) for a cash payment equal to the capital contributions made by the Unitholder with respect to the Class C Common Units, and this Agreement shall terminate and be of no further force or effect.\n(iv) If the actual number of Public Units offered and sold in the IPO is less than 15,000,000, then the Company shall promptly redeem the Unitholder\u2019s Class C Common Units issued pursuant to Section 1(a)(i) for a cash payment equal to the capital contributions paid by the Unitholder in respect of such Class C Common Units and this Agreement shall terminate and be of no further force or effect. As used herein, \u201cBusiness Day\u201d means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking institutions are generally authorized or required by law or regulation to close in the City of New York, New York. If the IPO Closing has not occurred by the date that is seven (7) Business Days after the effective date of the SPAC\u2019s Registration Statement, then, unless the Unitholder otherwise agrees in writing, the Company will promptly return such capital contributions made by the Unitholder in respect of its Class C Common Units to the Unitholder.", "snippet_links": [{"key": "the-terms-and-conditions", "type": "definition", "offset": [15, 39]}, {"key": "agrees-to", "type": "clause", "offset": [70, 79]}, {"key": "equal-to", "type": "definition", "offset": [106, 114]}, {"key": "aggregate-amount", "type": "definition", "offset": [118, 134]}, {"key": "schedule-a", "type": "clause", "offset": [148, 158]}, {"key": "in-exchange", "type": "clause", "offset": [186, 197]}, {"key": "issuance-by-the-company", "type": "clause", "offset": [206, 229]}, {"key": "class-c-common-units", "type": "definition", "offset": [249, 269]}, {"key": "class-d-common-units", "type": "clause", "offset": [274, 294]}, 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Accounts", "Capital Contributions Capital Accounts"], ["incremental-commitments", "Incremental Commitments", "Incremental Commitments"]], "related_snippets": [], "updated": "2026-04-01T04:22:47+00:00", "also_ask": ["What are the most effective negotiation levers for adjusting capital commitment terms?", "Which drafting elements are essential to prevent ambiguity in capital commitment obligations?", "What are the primary risks if capital commitment provisions are breached or underfunded?", "How do capital commitment clauses differ across common fund structures or jurisdictions?", "What factors most influence a court\u2019s willingness to enforce capital commitment obligations?"], "drafting_tip": "Specify the amount and timing of capital commitments to ensure clarity; define consequences for non-fulfillment to promote enforceability; reference governing law to provide certainty in dispute resolution.", "explanation": "A Capital Commitment clause defines the amount of capital that an investor or partner is obligated to contribute to a fund, project, or business venture. Typically, this clause specifies the total committed amount, the schedule or conditions under which funds must be provided, and any penalties for failure to meet these obligations. By clearly outlining each party\u2019s financial responsibilities, the clause ensures that sufficient funding is available for the venture and reduces the risk of underfunding or disputes over payment obligations."}, "json": true, "cursor": ""}}