Common use of Initial Capital Clause in Contracts

Initial Capital. The initial capital of the Company shall be the sums of cash or the agreed fair market value of the property or services (or combination of cash, property and services) contributed to the Company by the Members in such amounts or value as are set out opposite the name of each of the Members on Schedule A attached hereto and incorporated herein by this reference which shall be amended from time to time by the Managers to reflect a current list of the names and addresses of each current member. A transfer of any Membership Interest (as defined herein) shall not be effective until it has been recorded in the records of the Company.

Initial Capital. The initial capital of the Company shall be consist of all the sums right, title and interest of cash or the agreed fair market value of the property or services (or combination of cash, property each Member in and services) contributed to the Company by the Members in such amounts or value as are assets set out forth opposite the name of each such Member in the Schedule of Members’ Capital attached hereto as Exhibit A and made a part hereof. Each Member hereby contributes to the capital of the Members Company the assets set forth opposite such Member’s name on Schedule Exhibit A attached hereto and incorporated herein by this reference which under the column “Contribution to Capital.” The amount of the initial capital contributions shall be amended from time credited to time by the Managers to reflect a current list of the names and addresses of each current member. A transfer of any Membership Interest (as defined herein) shall not be effective until it has been recorded in the records of the CompanyMember’s Capital Account.