Common use of Required Contribution Clause in Contracts

Required Contribution. The Managers shall determine the contribution the New Member needs to make and the number and class of interests to be issued to such Member. The Managers may provide that the required contribution may be paid prior to, at the time of, or subsequent to, the issuance of any interest to such Member and that any subsequent contribution may be made from distributions paid or payable in respect of such interest. If any portion of a required contribution is payable after the issuance of the interest, the Managers may determine that any rights otherwise incident to such interest (including, without limitation, voting, distribution, inspection and transfer rights) will not come into effect until such required contribution has been made. At any time that the voting rights in respect of such interest have been suspended, in determining whether a required percentage of Interests have approved any action, such Interests shall be excluded from both the numerator and the denominator of such percentage computation.