Annual Capital Contributions Sample Clauses

Annual Capital Contributions. The hospitals of each Member agree that each of them will make annual capital contributions to the Company of an amount equal to the Net Collections of the BRFA Grant amount put in its rates in any year by the HSCRC as part of the BRFA Grant program (the “Required Annual Contribution” and with the Required Initial Contribution, the “Required Capital Contributions”), and that failure to do so constitutes a default of the obligations of the Member under this Agreement.
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Annual Capital Contributions. 3.4.1. During each calendar year, the Management Committee may invest up to such amount of funds in Portfolio Investments as it shall determine, subject to Section 3.4.2 (the "Annual Investment Amount"). The Annual Investment Amount shall be wholly dependent upon the number and size of investments that are made by the Company in a particular year or the amount required as follow-on investments in applicable Portfolio Companies. 3.4.2. The Class A Member hereby commits to provide any funds requested by the Management Committee within ten (10) days after receipt of a written request from the Management Committee; provided that the total aggregate commitment by the Class A Member (or its Permitted Transferees) shall not exceed Twenty Million Dollars ($20,000,000) (the "Class A Commitment Amount"). It is expressly acknowledged by the Class A Member that there shall be no limit on the amount of capital which the Class A Member may be obligated to contribute to the Company in any one year other than as limited by the Class A Commitment Amount. 3.4.3. During a period of forty-five (45) days after the beginning of each calendar year (treating the date of execution of this Agreement, for these purposes, as the beginning of calendar year 2001) (the "Annual Investment Window"), the Class B Member shall make a Capital Contribution to the Company for such calendar year in an amount equal to the capital contributions, if any, made to the Class B Member by its members for such year; provided, that any Capital Contribution of the Class B Member to the Company for a particular year shall be in cash and be wholly contributed to the Company within the Annual Investment Window. 3.4.4. No Class C Member shall be required to make any Capital Contributions to the Company. 3.4.5. The Capital Contributions of the Members for a particular year and their Percentage Interest in each of the Portfolio Investments made by the Company in that year shall be set forth opposite such Member's name on Schedule A attached hereto and shall be amended by the Management Committee at least once each year to keep it up to date. Upon a person's admission to the Company as a Member pursuant to Section 3.1, or upon a Member ceasing to be a Member, the Management Committee shall, without any action or consent of the other Members, revise Schedule A to reflect such change.
Annual Capital Contributions. (a) Notwithstanding the respective Membership Interests held by any Member, annual capital contributions shall be made in the amount of Three Thousand Dollars ($3,000) (“Annual Capital Contributions”), no later than December 21 of each year. (b) (i) In the event that any Member does not pay their Annual Capital Contributions in full prior to December 21 of any year (a “Defaulting Member”), the remaining Members (each, a “Non-Defaulting Member”) may, in their sole discretion, pay all or any portion of the unpaid portion of the Defaulting Member’s Annual Capital Contributions. The Membership Interest of such Defaulting Member shall be reduced by Six and 667/1000 Percent (6.667%). For the avoidance of doubt, if a Defaulting Member who holds Membership Interests of twenty percent (20%) defaults on three (3) Annual Payments and acquires no additional Membership Interests, such Defaulting Member shall have no further Membership Interests in the Company.

Related to Annual Capital Contributions

  • Initial Capital Contributions The Partners have made, on or prior to the date hereof, Capital Contributions and have acquired the number of Class A Units as specified in the books and records of the Partnership.

  • Additional Capital Contributions No Member shall be required to make additional capital contributions. A Member may make additional capital contributions to the Company.

  • Initial Capital Contribution The initial Capital Contribution of the Original Member as of the date of this Agreement will be $ .

  • Members Capital Contributions a) Single-Member Capital Contributions (Applies ONLY if Single-Member): The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes. b) Multi-Member (Applies ONLY if Multi-Member): The Members have contributed the following capital amounts to the Company as set forth below and are not obligated to make any additional capital contributions:

  • Member Capital Contributions (Check One)

  • No Additional Capital Contributions Except as otherwise provided in this Article V, no Partner shall be required to make additional Capital Contributions to the Partnership without the consent of such Partner or permitted to make additional capital contributions to the Partnership without the consent of the General Partner.

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Capital Contributions Persons seeking to become a Member shall be required to purchase or acquire Shares and make capital contributions in such forms and in such amounts and at such times as the Board may require, if any, in its sole discretion (any, a “Capital Contribution”) whereupon a capital account for a new Member will be established, and, if applicable, accreted, in the amount of such Member’s Capital Contribution or based upon the fair market value of property contributed, and the new Member shall be issued a number of Class A Ordinary Shares as determined by the Board, and the Board shall update Exhibit A attached hereto accordingly. The provisions of this Section 3.1 are solely intended for the benefit of the Members and, to the fullest extent permitted by law, shall not be construed as conferring any benefit upon any creditor of the Company (and no such creditor shall be a third-party beneficiary of this Agreement). The Members shall have no duty or obligation to any creditor of the Company to make any contribution to the Company.

  • Capital Contributions and Capital Accounts (a) The capital contributions of each party shall be all amounts paid by it pursuant to the Agreement. With respect to each oil and gas property and the related assets subject to the Agreement, each party shall be treated as having contributed to the tax partnership an amount of cash equal to such party's share of any Lease acquisition or other property costs and the tax partnership shall be treated as having purchased such property from the party to whom such amounts are paid. (b) An individual capital account shall be maintained for each party in accordance with the following: (i) The capital account of each party shall, except as otherwise provided herein, be (A) credited by the amount of cash and fair market value of any property contributed to the tax partnership (net of any liabilities assumed by the parties hereto or to which such property is subject at the time of contribution) as provided in subparagraph (a) of this paragraph 4, and (B) credited with the amount of any item of taxable income or gain and the amount of any item of income or gain exempt from tax allocated to such party. (ii) The capital account of each party shall be debited by (A) the amount of any item of tax deduction or loss allocated to such party, (B) such party's allocable share of expenditures not deductible in computing taxable income and not properly chargeable as capital expenditures, including any non-deductible book amortizations of capitalized costs, and (C) the amount of cash or the fair market value of any property (net of any liabilities assumed by such party or to which such property is subject at the time of distribution) distributed to such party (after making the adjustment provided in subparagraph (b)(iii) in this paragraph 4). (iii) Immediately prior to any distribution of property that is not pursuant to a liquidation of the tax partnership, the parties' capital accounts shall be adjusted by assuming that the distributed assets were sold for cash at their respective fair market values as of the date of distribution and crediting or debiting each party's capital account with its respective share of the hypothetical gains or losses resulting from such assumed sales determined in the same manner as gains or losses provided for under paragraphs 4(b)(iv) and 6 for actual sales of such properties. (iv) The allocation of basis prescribed by Section 613A(c)(7)(D) of the Code and provided for in paragraph 6 hereinbelow and each party's depletion deductions shall not reduce such party's capital account, but such party's capital account shall be decreased by an amount equal to the product of (A) the depletion deductions that would otherwise be allocable to the tax partnership in the absence of Section 613A(c)(7)(D) of the Code (computed without regard to any limitations which theoretically could apply to any party) and (B) such party's percentage share of the adjusted basis of the property with respect to which such depletion is claimed (herein called "Simulated Depletion"). The tax partnership's basis in any oil or gas property, as adjusted from time to time for Simulated Depletion, is herein called "Simulated Basis." No party's capital account shall be decreased, however, by Simulated Depletion deductions attributable to any depletable property to the extent such deductions exceed such party's remaining Simulated Basis in such property. Upon the sale or other disposition of an interest in a depletable property, each party's capital account shall be credited with the gain ("Simulated Gain") or debited with the loss ("Simulated Loss") determined by subtracting from its allocable share of the amount realized on such sale or disposition its Simulated Basis, as adjusted by Simulated Depletion. (v) Any adjustments of basis of property provided for under Sections 734 and 743 of the Code and comparable provisions of state law (resulting from an election under Section 754 of the Code or comparable provisions of state law) shall not affect the capital accounts of the parties, and the parties' capital accounts shall be debited or credited as if no such election had been made unless otherwise required by applicable Treasury Regulations. (vi) Capital accounts shall be adjusted, in a manner consistent with subparagraph (b) of this paragraph 4, to reflect any adjustments in items of income, gain, loss or deduction that result from amended returns filed by the tax partnership or pursuant to an agreement with the Internal Revenue Service or a final court decision. (vii) In the case of property contributed to the tax partnership by a party, the parties' capital accounts shall be debited or credited for items of depreciation, Simulated Depletion, amortization and gain or loss with respect to such property computed in the same manner as such items would be computed if the adjusted tax basis of such property were equal to its fair market value on the date of its contribution to the tax partnership, in lieu of the capital account adjustments provided above for such items, all in accordance with Section 704(c) of the Code and Treasury Regulation 1.704-1(b)(2)(iv)(g).

  • Capital Contributions Distributions 17 TABLE OF CONTENTS (continued)

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