Equalization Expense definition
Equalization Expense means the amount each Member shall be required to reimburse any other Member for the reimbursing Member’s proportionate share (according to its respective Percentage Interests) of any Pre-Effective Date Expenditures; provided that the aggregate amount of all Equalization Expenses shall not exceed $1,000,000.
Examples of Equalization Expense in a sentence
As soon as such additional expenditures and costs to be considered as Pre-Effective Date Expenditures hereunder have been approved or disapproved by the Members, which approval or disapproval shall not be unreasonably delayed, the Managing Member shall issue a capital call for the applicable Members to make cash Capital Contributions in an amount equal to such Members’ Equalization Expense.