Capital Contribution Defaults Sample Clauses

Capital Contribution Defaults. If a Member fails to contribute any capital to the Company that is required to be so contributed pursuant to Section 4.1, such Member shall be considered in default (a “Defaulting Member”), but shall remain fully obligated to contribute such capital to the Company. The Company shall be entitled to pursue all remedies available at law or in equity against the Defaulting Member, including any one or more of the following:
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Capital Contribution Defaults. 5.5.1 In the event that a Defaulting Member shall fail to make all or any part of any Initial Capital Contribution or additional Capital Contribution required of such Member pursuant to a written notice of the Management Committee calling for such Capital Contribution on or prior to the due date therefor, the other Members that have timely made their respective share of such Capital Contributions required of such other Members (a "Non-Defaulting Member") may either (i) loan amounts to the Defaulting Member to cover the Defaulting Member's Capital Contribution, or (ii) contribute to the Company the Capital Contribution otherwise required by the Defaulting Member, in each case pursuant to Sections 5.5.2 and 5.5.3, respectively.
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Capital Contribution Defaults. All capital contributions ------------------------------- which are not paid when due shall bear interest from the date due at the Default Rate until paid. In the event that a Partner defaults in its obligations hereunder to make or pay contributions to Partnership capital or any interest accruing thereon, the Management Committee (excluding the representative and alternate of such defaulting Partner) may enforce such obligations in such manner as may be permitted by Law and may exercise on behalf of the Partnership all rights and remedies with respect to such obligations and all collateral securing the same as may be provided by Law or under the terms of this Agreement. All reasonable costs and expenses, including attorneys' fees and expenses, incurred by the Partnership or such committee in enforcing such obligations, realizing on any security therefor or otherwise exercising any of the Partnership's rights or remedies with respect thereto shall be included in such obligations and paid by such defaulting Partner. In addition to and not in lieu of any other rights and remedies, each Partner hereby grants the following rights and remedies:
Sample 1
Capital Contribution Defaults. If any Member (a "Defaulting Member") shall fail or refuse to pay any Capital Contribution in the amount, at the time, and in the manner agreed to hereunder and pursuant to Section 6.2.2, or fail to return any amount withdrawn from such Member's Capital Account in violation of this Agreement (each, a "Payment Default") (a) such Defaulting Member's Ownership Interest and its rights to distributions set forth in Section 7.1 will be adjusted as provided in Section 6.3.1 below, and (b) the other Members (the "Complying Members") and the Company may take the actions described in Sections 6.3.2, 6.3.6 and 6.3.7,
Sample 1
Capital Contribution Defaults. If a Partner fails to make a capital contribution as required by the Agreement within 10 days after receipt of a notice for a capital contribution, then: (a) the General Partner may cancel the capital contribution call in question; (b) the non-defaulting Partner may make a deficiency loan to the Partnership on behalf of the defaulting Partner at a stipulated interest rate, which loan will be repaid from cash that would otherwise have been distributed to the defaulting Partner (provided that, for tax purposes, such cash shall be deemed to have been distributed to the defaulting Partner); and/or (c) the General Partner or any non-defaulting Partner may enforce any or all of the other rights or remedies set forth under “Remedies on Default” below.
Sample 1
Capital Contribution Defaults. In the event any Member shall default in the payment of any portion of a Capital Contribution (a "Capital Contribution Default") when required to be made, and shall fail to make such payment within ten (10) days after notice of default shall be given it by the Management Committee (such tenth (10th) day being referred to herein as the "Default Notice Date"), then such Member shall be a defaulting Member and shall be liable to the Company for all damages resulting, directly or indirectly, from such nonpayment and the Management Committee, other than the Representative designated by the defaulting Member (and references in this Section 5.4 to the Management Committee shall be deemed to be references to each Representative of the Management Committee other than the
Sample 1
Capital Contribution Defaults. If (i) a Member fails to make a Capital Contribution under Section 4.1(b) in response to a Capital Call validly and timely made hereunder on or before the date by which such additional Capital Contribution was required to be contributed pursuant to Section 4.1(b) (provided that such Member shall have an additional five (5) Business Days after first being notified (the date such notice is given, the “Default Notice Date”) of such Member’s failure to timely make all such Capital Contributions to cure such default by contributing such amounts) (a “Capital Call Default”), then such Member (and any of its Affiliates that are also Members (provided that if both Rice and RMP (or any of RMP’s Subsidiaries) are Members and either Rice or RMP (or its Subsidiaries) makes a Capital Call Default, then RMP (or its Subsidiaries) and Rice will not be considered to be Affiliates of one another for purposes of this Section 4.2)) will be considered to be in default (a “Defaulting Member”), but will remain fully obligated to contribute such capital to the Company. The Company (acting at the direction of the Managers designated by the non-defaulting Members) will be entitled to elect to pursue all remedies available at law or in equity against the Defaulting Member, including those specified in (a) below or the non-Defaulting Member(s) may elect to take the actions specified in (b) or (c) below:
Sample 1
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Related to Capital Contribution Defaults

  • Initial Contribution The capital contributions to be made by the Member and with which the Company shall begin business are as follows: Member Name Contribution Membership Interest Century Land Holdings, LLC $ 1,000.00 100 %

  • Subsequent Capital Contributions Without creating any rights in favor of any third party, each Member shall contribute to the Company, in cash, on or before the date specified as hereinafter described, that Member's Sharing Ratio of all monies that in the unanimous judgment of the Management Committee are necessary to enable the Company to acquire the Project from the Seller and to cause the assets of the Company to be properly operated and maintained and to discharge its costs, expenses, obligations, and liabilities, including without limitation its Sharing Ratio of the purchase price set forth in the Asset Sale Agreement, and its Sharing Ratio of Working Capital Requirements in order to bring current Company bank accounts to an amount equal to the Working Capital Requirements, as more particularly described in Section 5.01 below. The Management Committee shall notify each other Member of the need for Capital Contributions pursuant to this Section 4.02 when appropriate, which notice must include a statement in reasonable detail of the proposed uses of the Capital Contributions and a date (which date may be no earlier than the fifth Business Day following each Member's receipt of its notice) before which the Capital Contributions must be made. Notices for Capital Contributions must be made to all Members in accordance with their Sharing Ratios.

  • Additional Funds and Capital Contributions .. 22 Section 4.4 Stock Option Plan................................... 23 Section 4.5 No Interest; No Return.............................. 24 Section 4.6 Conversion or Redemption of Preferred Shares........ 24

  • Additional Capital Contributions No Member shall be required to make additional capital contributions. A Member may make additional capital contributions to the Company.

  • Capital Contributions Persons seeking to become a Member shall be required to purchase or acquire Shares and make capital contributions in such forms and in such amounts and at such times as the Board may require, if any, in its sole discretion (any, a “Capital Contribution”) whereupon a capital account for a new Member will be established, and, if applicable, accreted, in the amount of such Member’s Capital Contribution or based upon the fair market value of property contributed, and the new Member shall be issued a number of Class A Ordinary Shares as determined by the Board, and the Board shall update Exhibit A attached hereto accordingly. The provisions of this Section 3.1 are solely intended for the benefit of the Members and, to the fullest extent permitted by law, shall not be construed as conferring any benefit upon any creditor of the Company (and no such creditor shall be a third-party beneficiary of this Agreement). The Members shall have no duty or obligation to any creditor of the Company to make any contribution to the Company.

  • Initial Capital Contribution On March 7, 2007, the Member made a capital contribution of One Hundred Dollars ($100.00) to the Company, and, as consideration therefor, the Member received a percentage interest of One Hundred Percent (100%) in the Company.

  • Additional Funding and Capital Contributions If the Board of the Company or Haimeng at any time or from time to time determines that funding and/ or capital contributions to the Company or Haimeng are necessary to conduct the Company’s or Haimeng’s business activities, then:

  • Interest on Capital Contributions No Member shall be entitled to any interest on its capital contribution.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

  • Initial Contributions In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $10.10 for an interest in the Partnership and was admitted as the general partner of the Partnership, and the Initial Limited Partner made an initial Capital Contribution to the Partnership in the amount of $989.90 for an interest in the Partnership and was admitted as a limited partner of the Partnership.

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