Additional Capital Contributions; Non-Cash Contributions. Subject to Sections 8.3 and 8.4, no Member shall be required to make additional capital contributions to the Company. With the consent of all of the Members, a Member may contribute additional capital to the Company, and if any such contribution consists of property, the same shall be recorded on the books of the Company at the fair market value thereof. The Company may obtain such capital contributions from third parties seeking to be admitted as additional Members in accordance with Section 7.4 after the Members have agreed to the valuation of such contribution pursuant to Section 2.6 and approved such additional Member in accordance with Section 7.4.
Appears in 27 contracts
Samples: Limited Liability Company Operating Agreement (Town Sports International Inc), Company Operating Agreement (Town Sports International Inc), Limited Liability Company Operating Agreement (Town Sports International Inc)
Additional Capital Contributions; Non-Cash Contributions. Subject to Sections 8.3 and 8.4, no Member shall be required to make additional capital contributions to the Company. With the consent of all of the Members, a Member may contribute additional capital to the Company, and if any such contribution consists of property, the same shall be recorded on the books of the Company at the fair market value thereof. The Company may obtain such capital contributions from third parties seeking to be admitted as additional Members in accordance with Section 7.4 after the Members have agreed to the valuation of such contribution pursuant to Section 2.6 and approved such additional Member in accordance with Section 7.4.
Appears in 14 contracts
Samples: Company Operating Agreement (Town Sports International Inc), Company Operating Agreement (Town Sports International Inc), Company Operating Agreement (Town Sports International Inc)
