Common use of Additional Capital Clause in Contracts

Additional Capital. If the Company requires additional capital beyond the “Loans” described in subsection (b) below, each Member shall also contribute, to the Company, the difference between his/its capital contribution set forth above and the total amount of the approved (such approval to require the unanimous consent of the Members) budget for the acquisition, construction, renovation, pre-opening and working capital of the restaurant(s) contemplated herein.

Appears in 9 contracts

Samples: Operating Agreement, Operating Agreement (Sbarro Express LLC), Operating Agreement (Sbarro Express LLC)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.