Commitment for Second Capital Contribution Clause Samples
Commitment for Second Capital Contribution. Each Member, by executing and delivering its respective Joinder, agrees to make a second Capital Contribution to the Company in an amount equal to that Member's respective initial Capital Contribution. The second Capital Contributions will be deemed accepted by the Company on such date as the Manager determines the contribution eligible for tax credits.
Commitment for Second Capital Contribution. Each Member, by executing and delivering its respective Joinder, or otherwise as a signatory to this Agreement, agrees to make, a second Capital Contribution to the Company in an amount equal to that Member’s respective initial Capital Contribution. Due to varying dates of state approval of Company’s application to make contributions to the EITC and/or the OSTC programs the date due for the second Capital Contribution shall be no later than 12 months after the initial Capital Contribution is made or other reasonable date set by the Manager. The second Capital Contributions will be deemed accepted by the Company on such date as the Manager determines.