Special Capital Contributions. It is anticipated that the Company will from time to time require additional capital to purchase or acquire additional assets or entities, or interests therein, and to fund the future operations of the Company. The Members will contribute to the capital of the Company, according to their respective Membership Interests, as set forth in Sections 5.1(b) above, cash sums equal to the sums necessary to defray the costs of such operations not covered by Company revenues, up to an cumulative aggregate maximum amount of additional capital for all Members of $10,000. Any requirement or project requiring capital in excess of this amount shall require a two-thirds (b's) majority of the Votes. Should a Member fail to pay its share of authorized additional capital, it shall be liable to the other Member or Members therefor, as provided in Section 5.1(d) below; provided, however, that in lieu of the penalty set forth in Section 5.1(d), upon a Majority Vote of the non-defaulting Members, the defaulting Member shall be deemed to have forfeited its interest in the Company to the non-defaulting Member or Members who choose to advance the defaulting Member's unpaid capital contribution. Notice of the forfeiture shall be given to the defaulting Member within sixty (60) days of the default in capital contribution. The provisions of this Section 5.1(c) shall not apply to capital calls in excess of the aggregate limit set forth herein unless such call has been approved by the affirmative vote of not less than eighty percent (80%) of the issued and outstanding Units prior to a default.
Special Capital Contributions. It is anticipated that the Company will from time to time require additional capital to purchase or acquire additional assets or entities, or interests therein, and to fund the future operations of the Company. The Members will contribute to the capital of the Company, according to their respective Membership Interests, as set forth in Sections 5. l(b) above, cash sums equal to the sums necessary to defray the costs of such operations not covered by Company revenues in such amounts as are approved by an unanimous vote of the Members. Following approval, should a Member fail to pay its share of authorized additional capital within ten (10) days of written notice from any Member or Manager to do so, it shall be liable to the other Member or Members therefor, as provided in Section 5.1(d) below; provided, however, that in lieu of the penalty set forth in Section 5.1(d), upon a Majority Vote of the non-defaulting Members, the defaulting Member shall be deemed to have forfeited its interest in the Company to the non-defaulting Member or Members who choose to advance the defaulting Member's unpaid capital contribution. Written notice of forfeiture shall be delivered to the defaulting Member within sixty (60) days of the default in capital contribution. The provisions of this Section 5.1 (c) shall not apply to capital calls unless such call has been approved by a unanimous vote prior to a default.
Special Capital Contributions. If the Committee shall determine that debt financing as contemplated by Section 3.5 cannot be obtained on commercially reasonable terms, the Committee shall determine from time to time the amount of the additional funds required to carry on the Partnership's business ("Cash Shortfall"). The Partners shall thereupon determine (subject to a requirement of unanimous consent) whether to make capital contributions to the Partnership ("Special Capital Contributions") in order to fund such Cash Shortfall. All Special Capital Contributions shall be made by the Partners in proportion to their respective Percentage Interests.
Special Capital Contributions. 31 Section 11.4. No Right to Return of Contribution................................................. 32 Section 11.5. Loans to the Company; No Interest on Capital....................................... 32 Section 11.6. Creditor's Interest in the Company................................................. 32 Section 11.7.
Special Capital Contributions. A Member may make ----------------------------- Special Capital Contributions for the purpose of funding any expenditure by the Company which is to be charged, either by expense, depreciation or amortization, solely to the Capital Account of such Member pursuant to Section 12.2 of this Agreement. A Special Capital Contribution made pursuant to this Section 11.3 shall be credited to the Capital Account of the contributing Member, but shall not alter the Equity Percentages of the Members as determined under this Agreement. PPG may make Special Capital Contributions solely for the purpose of funding the Defined Benefit Plans, which Special Contributions shall be applied by the Company solely for that purpose.
Special Capital Contributions. (a) In connection with its admission to the Partnership as a Limited Partner, UPREIT shall make a Capital Contribution in the amount of $3,713,725.00 (the “UPREIT Special Capital Contribution”).
