Common use of Required Subsequent Capital Contributions Clause in Contracts

Required Subsequent Capital Contributions. Any General Partner whose capital account has a deficit balance at the time of liquidation of such General Partner’s interest agrees to contribute to the capital of the Partnership an amount of cash necessary to bring such General Partner’s Capital Account up to zero. Such amount will be paid to the Partnership by the later of the end of the taxable year in question or 90 days after the date of the Partnership’s liquidation, and such amount will be available for payment to the Partnership’s creditors or for distribution to those Partners having positive Capital Account balances.

Appears in 12 contracts

Samples: And Restated Agreement (Teebank Family LTD Partnership), Gilman Sheldon G, Gilman Sheldon G

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Required Subsequent Capital Contributions. Any General Partner whose capital account has a deficit balance at the time of liquidation of such General Partner’s 's interest agrees to contribute to the capital of the Partnership an amount of cash necessary to bring such General Partner’s 's Capital Account up to zero. Such amount will be paid to the Partnership by the later of the end of the taxable year in question or 90 days after the date of the Partnership’s 's liquidation, and such amount will be available for payment to the Partnership’s 's creditors or for distribution to those Partners having positive Capital Account balances.

Appears in 6 contracts

Samples: Agreement (Gilman Sheldon G), Agreement (Trager Scott), Trager Trust of 2012

Required Subsequent Capital Contributions. Any General Partner whose capital account has a deficit balance at the time of liquidation of such General Partner’s interest agrees to contribute to the capital of the Partnership an amount of cash necessary to bring such General Partner’s Capital Account up to zero. Such amount will be paid to the Partnership by the later of the end of the taxable year in question or 90 days after the date of the Partnership’s liquidation, and such amount Amended and Restated Agreement of Limited Partnership for Teebank Family Limited Partnership will be available for payment to the Partnership’s creditors or for distribution to those Partners having positive Capital Account balances.

Appears in 1 contract

Samples: Trager Bernard M

Required Subsequent Capital Contributions. Any General Partner whose capital account has a deficit balance at the time of liquidation of such General Partner’s 's interest agrees to contribute to the capital of the Partnership an amount of cash necessary to bring such General Partner’s 's Capital Account up to zero. Such amount will be paid to the Partnership by the later of the end of the taxable year in question or 90 days after the date of the Partnership’s 's liquidation, and such amount will be available for payment to the Partnership’s 's creditors or for distribution to those Partners having positive Capital Account balances.. Amended and Restated Agreement of

Appears in 1 contract

Samples: Gilman Sheldon G

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Required Subsequent Capital Contributions. Any General Partner whose capital account has a deficit balance at the time of liquidation of such General Partner’s interest agrees to contribute to the capital of the Partnership an amount of cash necessary to bring such General Partner’s Capital Account up to zero. Such amount will be paid to the Partnership by the later of the end of the taxable year in question or 90 days after the date of the Partnership’s liquidation, and such amount Amended and Restated Agreement of Limited Partnership for Jaytee Properties will be available for payment to the Partnership’s creditors or for distribution to those Partners having positive Capital Account balances.

Appears in 1 contract

Samples: Trager Bernard M

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