Project Capital Contributions. 58 Section 6.2
Project Capital Contributions. (a) The Members shall make Capital Contributions to the Company (collectively, the "Project Capital Contributions") in accordance with and as more particularly described in Schedule 6.1(a) attached hereto. For all other Projects agreed to be contributed to the Company, the Members shall make Project Capital Contributions thereafter as determined by the Members.
Project Capital Contributions. (a) Upon the approval by the Executive Committee of the Final Presentation for a Target and contemporaneously with the acquisition of such Project by the Company or a Subsidiary, unless and until such approval has been withdrawn or revoked by the Executive Committee or deemed withdrawn or revoked in accordance with Section 4.4(f) hereof, the Members shall make Capital Contributions (the "Project Capital Contributions") for that Subsidiary and Project. Project Capital Contributions will be made on an as needed basis as required to pay Equity Formation Costs in accordance with Section 2.10 hereof, exxxxxx money deposits on an as-needed basis in accordance with Section 4.4(e) hereof and otherwise, as Projects are acquired and developed by the Company through a Subsidiary. The proceeds thereof shall, in turn, be paid by the Company on account of Equity Formation Costs or exxxxxx money deposits or be contributed to the applicable Subsidiary to consummate the acquisition and to pay the Total Project Costs for such Project.
Project Capital Contributions. 9 3.3 Call Notice/Bank Accounts............................................................................. 10 3.4
Project Capital Contributions. In addition to the Start-Up Capital ----------------------------- Contributions set forth in Section 3.1, the Members shall contribute from time to time, in accordance with their Percentage Interests, cash in amounts as required by the Management Committee to fund all Project Budgets, to fund the Company Budget after the Start-Up Period, and otherwise pay the costs of the Company (a "Project Capital Contribution"). As of the Formation Date, such Percentage Interests, for all matters under this Agreement, excepting (i) Start-Up Capital Contributions under Section 3.1(b), and (ii) Net Loss, Net Income, and Distributions related to such Start-Up Capital Contributions as set forth in the Tax Supplement (Sections 2.2 and 2.3) and Section 6.5 of this Agreement, are: SWC- 25%, Inland - 75% (which Percentages are subject to adjustment by reason of Transfer or dilution pursuant to the terms of this Agreement). Upon the Formation Date, SWC and Inland shall contribute the following initial Project Capital Contributions to the Company to fund future Projects: SWC $10,000 Inland $30,000
Project Capital Contributions. The services to be provided by the Diamond Member in lieu of its Project Capital Contribution shall be provided from time to time by causing the Diamond Manager to perform the services required of the Manager of the Company and such obligation shall be deemed to be satisfied for as long as such services are provided; provided, however, that the value of such services shall not be credited to the Diamond Member's Capital Account. The Grand Member's Project Capital Contribution shall be made as follows. Within fifteen (15) Business Days after the Diamond Manager has provided the Grand Member with a copy of a written financing commitment for a construction loan sufficient to fund at least the first phase of the building improvements contemplated by the Time Share Project, which may be constructed and sold in multiple phases consisting of separate or connected buildings, the Grand Member shall cause the relevant portion of the Shark Club Parcel to be formally conveyed to the Company by Grand as the fee owner thereof, via recorded Grant Bargain and Sale Deed. Upon the written request of the Diamond Member, the Grand Member shall execute and deliver to the Company a written memorandum briefly describing such conditional contribution obligation with respect to the Shark Club Parcel, in a form acceptable for filing in the official records of Xxxxx County, Nevada; provided, however, that in the event the Company shall be dissolved for any reason before the conditions for all of such contributions have been satisfied, the Diamond Member and the Company (before its dissolution) shall cause a written memorandum releasing any such remaining conditional contribution obligation to be executed and delivered to the Grand Member, in a form acceptable for filing in the official records of Xxxxx County, Nevada.
