Common use of Permanent Contribution Clause in Contracts

Permanent Contribution. Subject to Section 4.06(a), if the Additional Contribution Members elect under Section 4.06(a) to have the Additional Contribution treated as a permanent capital contribution, then each Additional Contribution Member that funds a portion of the Additional Contribution shall have its capital account increased accordingly and the Members’ Membership Interests and Sharing Ratios will be automatically adjusted to equal each Member’s total Capital Contributions when expressed as a percentage of all Members’ Capital Contributions.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Spectra Energy Partners, LP), Limited Liability Company Agreement (New Jersey Resources Corp)

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Permanent Contribution. Subject to Section 4.06(a), if If the Additional Contribution Contribution/Loan Members elect under Section 4.06(a4.06(a)(ii) to have the Additional Contribution Contribution/Loan treated as a permanent capital contributionCapital Contribution, then each Additional Contribution Member that funds a portion the Sharing Ratios of the Additional Contribution shall have its capital account increased accordingly Contribution/Loan Members and the Members’ Membership Interests and Sharing Ratios Non-Contributing/Loan Member will be automatically adjusted to equal each Member’s total Capital Contributions when expressed as a percentage of all such Members’ Capital ContributionsContributions (after giving effect to the Capital Contribution made by the Additional Contribution/Loan Members).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (RGC Resources Inc), Limited Liability Company Agreement (EQT Midstream Partners, LP)

Permanent Contribution. Subject to Section 4.06(a), if If the Additional Contribution Contribution/Loan Members elect under Section 4.06(a4.06(a)(ii) to have the Additional Contribution Contribution/Loan treated as a permanent capital contributionCapital Contribution, then each Additional Contribution Member that funds a portion of the Additional Contribution shall have its capital account increased accordingly and the Members’ Membership Interests and Sharing Ratios of each Member will be automatically adjusted to equal each Member’s total Capital Contributions when expressed as a percentage of all Members’ Capital ContributionsContributions (after giving effect to the Capital Contribution made by the Additional Contribution/Loan Members).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (EQT Corp), Limited Liability Company Agreement (EQT Corp)

Permanent Contribution. Subject to Section 4.06(a3.06(a), if the Additional Contribution Contributing Members elect under Section 4.06(a3.06(a) to have the Additional Contribution treated as a permanent capital contribution, then each Additional Contribution Contributing Member that funds a portion of the Additional Contribution shall have its capital account Capital Account increased accordingly and the Members’ Membership Interests and Sharing Ratios Percentage Interests will be automatically adjusted to equal each Member’s total Capital Contributions when expressed as a percentage of all Members’ Capital Contributions.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (El Paso Pipeline Partners, L.P.), Limited Liability Company Agreement (El Paso Pipeline Partners, L.P.)

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Permanent Contribution. Subject to Section 4.06(a), if the Additional Contribution Members elect under Section 4.06(a) to have the make an Additional Contribution treated as a permanent capital contributionContribution, then each Additional Contribution Member that funds a portion of the Additional Contribution shall have its capital account increased accordingly and the Members’ Membership Member Interests and Sharing Ratios will be automatically adjusted to equal the amount, when expressed as a percentage, that is determined by dividing each Member’s total net Capital Contributions when expressed as a percentage of Contributions, by all Members’ total net Capital Contributions.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Spectra Energy Partners, LP)

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