Common use of ADDITIONAL CAPITAL CONTRIBUTIONS BY THE PARTNERS Clause in Contracts

ADDITIONAL CAPITAL CONTRIBUTIONS BY THE PARTNERS. Neither of the Partners shall be required to and no Partner has the right to make any additional Capital Contributions to the Partnership, except that the Partners shall make such additional Capital Contributions as provided below in this Section 3.2. 3.2.1 If the General Partner determines, at any time and from time to time, that the Partnership requires additional capital for its business and operations, the General Partner, in its sole and absolute discretion, may deliver notice (an "Additional Capital Requirement Notice") to the Limited Partner specifying the additional amount of capital so determined to be required; provided, however, the General Partner shall have no obligation to any creditor of the Partnership to deliver an Additional Capital Requirement Notice. At any time after the delivery to the Limited Partner of such an Additional Capital Requirement Notice, the Partners, in proportion to their Percentage Interests, shall make an additional Capital Contribution to the Partnership up to the amount stated in such notice. 3.2.2 Notwithstanding anything to the contrary in this Agreement, with respect to any future Capital Contributions, the actual making of such Capital Contributions by the Partners in proportion to their Percentage Interests shall be deemed to have been made pursuant to an Additional Capital Requirement Notice, whether written or oral.

Appears in 22 contracts

Samples: Limited Partnership Agreement (Leasehold Resource Group LLC), Limited Partnership Agreement (Leasehold Resource Group LLC), Limited Partnership Agreement (Leasehold Resource Group LLC)

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ADDITIONAL CAPITAL CONTRIBUTIONS BY THE PARTNERS. Neither of the Partners shall be required to and no Partner has the right to make any additional Capital Contributions to the Partnership, except that the Partners shall make such additional Capital Contributions as provided below in this Section 3.2. 3.2.1 If the General Partner determines, at any time and from time to time, that the Partnership requires additional capital for its business and operations, the General Partner, in its sole and absolute discretion, may deliver notice (an "β€œAdditional Capital Requirement Notice"”) to the Limited Partner specifying the additional amount of capital so determined to be required; provided, however, the General Partner shall have no obligation to any creditor of the Partnership to deliver an Additional Capital Requirement Notice. At any time after the delivery to the Limited Partner of such an Additional Capital Requirement Notice, the Partners, in proportion to their Percentage Interests, shall make an additional Capital Contribution to the Partnership up to the amount stated in such notice. 3.2.2 Notwithstanding anything to the contrary in this Agreement, with respect to any future Capital Contributions, the actual making of such Capital Contributions by the Partners in proportion to their Percentage Interests shall be deemed to have been made pursuant to an Additional Capital Requirement Notice, whether written or oral.

Appears in 1 contract

Samples: Limited Partnership Agreement (Shawnee Gardens Healthcare & Rehabilitation Center LLC)

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ADDITIONAL CAPITAL CONTRIBUTIONS BY THE PARTNERS. Neither of the Partners shall be required to and no Partner has the right to make any additional Capital Contributions to the Partnership, except that the Partners shall make such additional Capital Contributions as provided below in this Section 3.2. 3.2.1 If the General Partner determines, at any time and from time to time, that the Partnership requires additional capital for its business and operations, the General Partner, in its sole and absolute discretion, may deliver notice (an "Additional Capital Requirement Notice") to the Limited Partner specifying the additional amount of capital so determined to be required; provided, however, the General Partner shall have no obligation to any creditor of the Partnership to deliver an Additional Capital Requirement Notice. At any time after the delivery to the Limited Partner of such an Additional Capital Requirement Notice, the Partners, in proportion to their Percentage Interests, shall make an additional Capital Contribution to the Partnership up to the amount stated in such notice. 3.2.2 . Notwithstanding anything to the contrary in this Agreement, with respect to any future Capital Capital 3.2.2 Contributions, the actual making of such Capital Contributions by the Partners in proportion to their Percentage Interests shall be deemed to have been made pursuant to an Additional Capital Requirement Notice, whether written or oral.

Appears in 1 contract

Samples: Limited Partnership Agreement (Leasehold Resource Group LLC)

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