Examples of Additional Capital Notice in a sentence
The time for the payment of any Additional Capital Contribution to the Company shall be determined by the BH Investor, but shall in no event be less than ten (10) days after the delivery of the Additional Capital Notice.
The time for the payment of any Additional Capital Contribution to the Partnership shall be determined by the General Partner, but shall in no event be less than ten (10) days after the delivery of the Additional Capital Notice.
The time for the payment of any Additional Capital Contribution to the Partnership shall be determined by the General Partner, but shall in no event be less than fifteen (15) days after the delivery of the Additional Capital Notice.
Assume that the BH Investor sends an Additional Capital Notice for $400,000 to the Members, and that in response thereto the CP Investor makes an Additional Capital Contribution of $60,000 and BH Investor fails to make its Additional Capital Contribution of $340,000.
Failure of a Member to deliver such notice of election on or before the 10th Business Day after the date of the Additional Capital Notice shall be deemed to be an election of such Member not to make such contribution.
If such Initial Shareholder elects not to make such a contribution, it shall give Corporation written notice to such effect and Corporation shall have the right to sell such Additional Capital, on the terms described in the Additional Capital Notice, to third parties (provided that such third parties agree in writing to assume performance of and to be bound by the terms and conditions of this Agreement as a Stockholder hereunder) or other Initial Stockholders.
In order to be valid, such election must be exercised by delivery of written notice of election to the Managing Member not later than the 10th Business Day after the date of the Additional Capital Notice.
Any additional equity contribution pursuant to this Section 3.5 shall not have any priority current return and shall be returned without interest under the terms of Section 4.10, unless otherwise proposed in the Additional Capital Notice.
Thereafter, the General Partner and the Class A Limited Partner shall each have the option to make the Additional Capital Contribution requested in the Additional Capital Notice.
The notice (the "Additional Capital Notice") shall specify the amount of funds to be provided by each Member (each, an "Additional Capital Contribution"), the date on which funds are to be provided (the "Contribution Date"), and the account of the Company to which such funds are to be transmitted.