Additional Contributions by Members. The members may agree, from time to time by unanimous vote, to require the payment of additional capital contributions by the members, on or by a mutually agreeable date.
Additional Contributions by Members. Although no Member shall be required to contribute additional funds to the Company, the Members acknowledge that the business of the Company may not produce sufficient income to discharge its operating costs and that additional cash contributions may be necessary to pay the obligations of the Company as they become due. Accordingly, should the Members determine that it is necessary or appropriate to raise additional funds, then the following provisions shall apply:
2.3.1 The Company shall issue a written notice of capital request ("Notice of Capital Request") to each Member to contribute additional funds to the Company. The Notice of Capital Request shall include the following information:
A. The total amount of capital requested from all of the Members ("Total Capital Request");
B. Each Member's share of the Total Capital Request, which shall be determined by multiplying the Total Capital Request by the Membership Interest of each Member ("Member Capital Contribution"); and
C. The date on or before which the Member Capital Contribution shall be due, which date shall not be less than thirty (30) days from the date of the Notice of Capital Request.
2.3.2 Should any Member neglect, fail or refuse to timely contribute any portion of such Member's Capital Contribution ("Delinquent Member"), then the Company shall so notify the other Members ("Member Notice") and the other Members who have paid their Member's Capital Contribution in full ("Non-Delinquent Members") shall have the option to contribute the Delinquent Member's Capital Contribution on a pro-rata basis (in accordance with the then respective Membership Interest of each other Non-Delinquent Member as compared to the total Membership Interests of all Non-Delinquent Members). In the event that any Non-Delinquent Member neglects, fails or refuses to contribute the Member's pro-rata share of the Delinquent Member's Capital Contribution within thirty (30) days of the Member Notice, then all other Non-Delinquent Members shall have the right to contribute the remaining deficiency in the Delinquent Member's Capital Contribution on a pro-rata basis (as to all such other Non-Delinquent Members and in the manner hereinabove provided), which procedure shall be repeated until the Delinquent Member's Capital Contribution is satisfied or all Non-Delinquent Members fail to contribute any additional capital.
2.3.3 The Membership Interests of the Members shall be adjusted so that the Membership Interest of each Member ...
Additional Contributions by Members. As a single-member LLC there is no need for this provision as no further contributions will be required, however if in the future other members are added, this provision will be required and updated.
