5Capital Contributions Sample Clauses
The Capital Contributions clause defines the obligations of each party to provide financial resources or assets to a business entity, such as a partnership or company. It typically outlines the amount, form (cash, property, or services), and timing of each party's contribution, and may specify procedures for additional contributions or consequences for failure to contribute. This clause ensures that the entity is properly funded and clarifies each party's financial commitment, thereby preventing disputes and supporting the entity's operational needs.
5Capital Contributions. (a) The Manager as the initial Member shall make contributions of capital to the Company in accordance with this Agreement and the terms and conditions of the respective Subscription Agreement. In connection with the making of a capital contribution, the Manager and any additional Member shall have executed and delivered such instruments and shall have taken such actions as the Manager shall deem necessary or desirable to effect such admission, including, without limitation, the execution of a Subscription Agreement and a counterpart of this Agreement.
(i) The Manager and any other Member shall each contribute its Capital Contributions to the Company, in cash or by wire transfer of immediately available funds, and in the case of a wire transfer, to the bank account of the Company as shall be designated by the Member at the closing of the purchase of such Member’s Interests.
5Capital Contributions. (a) Each Member shall make contributions of capital to the Company in accordance with this Agreement and the terms and conditions of each Member’s respective Subscription Agreement. In connection with the making of a capital contribution, each Member shall have executed and delivered such instruments and shall have taken such actions as the General Partner shall deem necessary or desirable to effect such admission, including, without limitation, the execution of a Subscription Agreement and a counterpart of this Agreement.
(i) Each Member will be required to contribute not less than $10,000 to the Company for each Series of Interests, although the Managing Member may elect accept less in its sole discretion.
(ii) Each Member shall contribute its Capital Contributions to the Company, in cash or by wire transfer of immediately available funds, and in the case of a wire transfer, to the bank account of the Company as shall be designated by the Member at the closing of the purchase of such Member’s Interests.