Elective Additional Capital Contributions Sample Clauses

Elective Additional Capital Contributions. Except as set forth in Section 2.2(b) and Section 2.2(c)(i) above, no Class A Member shall be required to make additional Capital Contributions to the Company. Notwithstanding the foregoing, the Board may make a call for additional Capital Contributions by the Class A Members. Additional Capital Contributions shall be made by such Class A Members to the Company pro rata in accordance with their Percentage Interests. Any such additional Capital Contributions shall be made by the Class A Members within fifteen (15) days after such call by the Board is made; provided, however, in the event of an emergency, the Board may specify an earlier date for delivery of such additional Capital Contributions as may be reasonably necessary under the circumstances. If a Class A Member elects not to make or otherwise fails to make an additional Capital Contribution pursuant to this Section 2.2(c)(ii) when due (such a Class A Member is herein referred to as a “Non-Contributing Member”), notice shall be given to the Non-Contributing Member by the Board. If the full amount of such Capital Contribution is not received by the Company within three (3) Business Days after the Non-Contributing Member’s receipt of such notice, the other Class A Members shall have the option, but not the obligation, to make the Non-Contributing Member’s Capital Contribution. Any such payment shall be made by those Class A Members who elect to do so (such Class A Members are referred to as the “Contributing Members”), pro rata to the aggregate Percentage Interests of the Contributing Members or in such other proportions as they agree, and shall be treated as an additional Capital Contribution to the Company by the Contributing Members, unless the Contributing Members elect to put such additional funds into the Company as a loan, on the terms set forth in Section 2.2(c)(i)(A) above. The Class A Members’ Class A Units shall be redetermined as of the date of such payment in the manner set forth in Section 2.2(c)(i)(B)
Sample 1
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Related to Elective Additional Capital Contributions

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

  • No Additional Capital Contributions Except as otherwise provided in this Article V, no Partner shall be required to make additional Capital Contributions to the Partnership without the consent of such Partner or permitted to make additional capital contributions to the Partnership without the consent of the General Partner.

  • Initial Capital Contributions (a) The Partners have made, on or prior to the date hereof, Capital Contributions and, in exchange, the Partnership has issued to the Partners the number of Class A Units as specified in the books and records of the Partnership.

  • 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.

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

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

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

  • 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.

  • 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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