EXCESS CAPITAL CONTRIBUTIONS Sample Clauses

EXCESS CAPITAL CONTRIBUTIONS. To the extent the Management Committee determines, in its sole discretion, that the Fund has received Capital Contributions in excess of the Fund's needs, the Management Committee may return said excess Capital Contributions to the Investors, provided that at the time of such partial returns (i) all liabilities of the Fund to Persons other than Investors have been paid or, in the good faith determination of the Management Committee, there remains property of the Fund sufficient to pay them and (ii) the Management Committee causes this Agreement to be amended, if necessary, to reflect a reduction in Capital Contributions. In the event that the Management Committee elects to make a partial return of Capital Contributions to Investors, such distribution shall be made pro rata to all of the Investors based upon the number of Shares held by each Investor. Each Investor, by becoming such, consents to such pro rata distribution theretofore or thereafter duly authorized and made in accordance with this Section 7.05. Without the consent of all Investors, no
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EXCESS CAPITAL CONTRIBUTIONS. To the extent the Management Committee determines, in its sole discretion, that the Partnership has received Capital Contributions in excess of the Partnership's needs, the Management Committee may return said excess Capital Contributions to the Partners, provided that at the time of such partial returns (i) all liabilities of the Partnership to Persons other than Partners have been paid or, in the good faith determination of the Management Committee, there remains property of the Partnership sufficient to pay them and (ii) the Management Committee causes this Agreement to be amended, if necessary, to reflect a reduction in Capital Contributions. In the event that the Management Committee elects to make a partial return of Capital Contributions to Limited Partners, such distribution shall be made pro rata to all of the Limited Partners based upon the number of Units held by each Limited Partner. Each Partner, by becoming such, consents to such pro rata distribution theretofore or thereafter duly authorized and made in accordance with this Section 7.05. Without the consent of all Partners, no Partner shall have the right to receive property other than cash in return for such Partner's Capital Contribution. Any Capital Contributions not committed for investment within three years after the Closing Date (except for reserves and necessary operating capital) shall be deemed to be in excess of the Partnership's needs.
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EXCESS CAPITAL CONTRIBUTIONS. To the extent the Individual General Partners determine, in their sole discretion, that the Partnership has received Capital Contributions in excess of the Partnership's needs, the Individual General Partners may cause the Partnership to return said excess Capital Contributions to the Partners, provided that at the time of such partial returns (i) all liabilities of the Partnership to Persons other than Partners have been paid or, in the good faith determination of the Individual General Partners, there remains property of the Partnership sufficient to pay them and (ii) the Individual General Partners cause this Agreement to be amended, if necessary, to reflect a reduction in Capital Contributions. In the event that the Individual General Partners elect to cause the Partnership to make a partial return of Capital Contributions to Limited Partners, such distribution shall be made pro rata to all of the Limited Partners based upon the number of Units held by each Limited Partner. Each Partner, by becoming such, consents to such pro rata distribution theretofore or thereafter duly authorized and made in accordance with this Section 7.05. Without the consent of all Partners, no Partner shall have the right to receive property other than cash in return for such Partner's Capital Contribution. Such distribution shall also include each Limited Partners' pro rata portion of sales commissions and Organizational and Offering Expenses attributable to such returned funds (other than the portion of sales commissions that has been paid or remains owing to broker-dealers other than the Dealer-Manager).
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Related to EXCESS CAPITAL CONTRIBUTIONS

  • Subsequent Capital Contributions Without creating any rights in favor of any third party, each Member shall contribute to the Company, in cash, on or before the date specified as hereinafter described, that Member's Sharing Ratio of all monies that in the unanimous judgment of the Management Committee are necessary to enable the Company to acquire the Project from the Seller and to cause the assets of the Company to be properly operated and maintained and to discharge its costs, expenses, obligations, and liabilities, including without limitation its Sharing Ratio of the purchase price set forth in the Asset Sale Agreement, and its Sharing Ratio of Working Capital Requirements in order to bring current Company bank accounts to an amount equal to the Working Capital Requirements, as more particularly described in Section 5.01 below. The Management Committee shall notify each other Member of the need for Capital Contributions pursuant to this Section 4.02 when appropriate, which notice must include a statement in reasonable detail of the proposed uses of the Capital Contributions and a date (which date may be no earlier than the fifth Business Day following each Member's receipt of its notice) before which the Capital Contributions must be made. Notices for Capital Contributions must be made to all Members in accordance with their Sharing Ratios.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

  • Initial Capital Contributions (a) The Partners have made, on or prior to the date hereof, Capital Contributions and, in exchange, the Partnership has issued to the Partners the number of Class A Units as specified in the books and records of the Partnership.

  • Additional Capital Contributions No Member shall be required to make additional capital contributions. A Member may make additional capital contributions to the Company.

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Capital Contributions Persons seeking to become a Member shall be required to purchase or acquire Shares and make capital contributions in such forms and in such amounts and at such times as the Board may require, if any, in its sole discretion (any, a “Capital Contribution”) whereupon a capital account for a new Member will be established, and, if applicable, accreted, in the amount of such Member’s Capital Contribution or based upon the fair market value of property contributed, and the new Member shall be issued a number of Class A Ordinary Shares as determined by the Board, and the Board shall update Exhibit A attached hereto accordingly. The provisions of this Section 3.1 are solely intended for the benefit of the Members and, to the fullest extent permitted by law, shall not be construed as conferring any benefit upon any creditor of the Company (and no such creditor shall be a third-party beneficiary of this Agreement). The Members shall have no duty or obligation to any creditor of the Company to make any contribution to the Company.

  • Capital Contributions Distributions 10 SECTION 5.1

  • No Additional Capital Contributions Except as otherwise provided in this Article V, no Partner shall be required to make additional Capital Contributions to the Partnership without the consent of such Partner or permitted to make additional capital contributions to the Partnership without the consent of the General Partner.

  • Initial Capital Contribution On March 7, 2007, the Member made a capital contribution of One Hundred Dollars ($100.00) to the Company, and, as consideration therefor, the Member received a percentage interest of One Hundred Percent (100%) in the Company.

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