Subsequent Contributions Clause Samples
The "Subsequent Contributions" clause defines the rules and procedures for any additional contributions made by parties after the initial agreement is executed. It typically outlines how new assets, funds, or intellectual property can be added, who must approve such contributions, and how these additions are documented or integrated into the existing arrangement. This clause ensures that the process for expanding the scope of the agreement is clear and agreed upon, preventing disputes or confusion over future contributions.
POPULAR SAMPLE Copied 1 times
Subsequent Contributions. The Members shall make subsequent capital contributions of cash from time to time as set forth in the then current Annual Plan and Budget or as otherwise approved pursuant to the Significant Matters Approval process pursuant to Section 6.4.
Subsequent Contributions. Unless unanimously agreed to in writing by the Members, no Member shall be required to make any Capital Contributions other than the Initial Capital Contributions as contemplated by Section 4.1; provided, that, notwithstanding any provisions in this Agreement to the contrary, no Member shall be required to make any Capital Contribution, other than an Initial Capital Contribution, if such Member did not vote to approve such Capital Contribution.
Subsequent Contributions. The Member shall not be obligated to make any Capital Contributions to the Company other than those set forth in Section 6.1.
Subsequent Contributions. Additional Capital Contributions may be made by the Member at its discretion and shall be reflected in the books and records of the Company.
Subsequent Contributions. No Member shall be obligated to make any Capital Contributions to the Company other than those set forth on Exhibit “A.”
Subsequent Contributions. Any person or organization (hereinafter referred to as "Donor"), may make a contribution to the Foundation for the purposes of the Fund by a transfer to the Foundation in whole or in part for the Fund. All contributions to the Fund, including the Charitable Donor's initial contribution, described in the preceding paragraph, shall be irrevocable. The Foundation, the Charitable Donor, and any other Donor may from time to time make additions to the Fund from money or property available to them.
Subsequent Contributions. Any Partner may, on any business day, make additional cash contributions to the Partnership.
Subsequent Contributions. Additional Capital Contributions shall be made only with the unanimous consent of the Partners.
Subsequent Contributions. (a) Without creating any rights in favor of any third party, each Member may be asked by the Managers to contribute to the Company in cash, on or before a date approved by the Managers (the "Contribution Date"),that Member's share (as determined by the Member's Ownership Interest, without regard to any Current Year Section 5.8 Adjustments) of all monies that, in the judgment of the Managers, are necessary to enable the Company to cause the business of the Company to be properly operated and maintained and to discharge its costs, expenses, obligations and liabilities. The Managers shall notify each Member (a "Capital Call") of the need for Capital Contributions pursuant to this Section 5.2 when appropriate. This notice must include a statement in reasonable detail of the current financial condition of the Company, the reasons) for the Capital Call and the proposed uses of the Capital Contributions. To the extent a Member (a "Non-Contributing Member") cannot or elects not to contribute Capital Contributions requested pursuant to this Section 5.2, the Managers shall notify the other Member(s) (the "Contributing Member(s)") of such fact and shall request that additional Capital Contributions be made by one or more of the Contributing Member(s) in an amount equal to the amount originally requested of the Non-Contributing Member, and a Contributing Member may make an additional Capital Contribution (a "Shortfall Contribution") of a portion or all of such amount.
(b) Subject to Section 5.2(c), to the extent a Non-Contributing Member cannot or elects not to make Capital Contributions requested pursuant to this Section 5.2, the Non-Contributing Member's Ownership Interest will be decreased proportionately (and the Contributing Member's Ownership Interest increased proportionately) so that Ownership Interests are proportionate to the FMV Capital Accounts after the Capital Contributions. Subject to Section 5.2(c), to the extent that any Contributing Member(s) makes a Shortfall Contribution, such Contributing Member's(s') Ownership Interests) will be increased proportionately (and the Non-contributing Member's Ownership Interest decreased proportionately) so that Ownership Interests are proportionate to the FMV Capital Accounts after the Capital Contributions. The proportionate increase and decrease in Ownership Interest under this Section 5.2(b) will be made in accordance with Section.
(c) The proportionate increases and decreases in Ownership Interests required unde...
Subsequent Contributions. No Member will be required to contribute additional capital to the Company. No Member will be permitted to contribute additional capital or loan money to the Company without the approval of the Manager and on such terms as the Manager shall determine.