Common use of Capital Contribution Events Clause in Contracts

Capital Contribution Events. (a) Notwithstanding anything in Section 4.2 to the contrary, whenever the General Partner determines in good faith that additional Capital Contributions in cash from the Partners are necessary to fund the Partnership’s operations, the General Partner may issue a notice to each Partner (a “Call Notice”) for an additional Capital Contribution by each Partner (a “Required Contribution”) in an amount equal to such Partner’s pro rata portion (based on the Percentage Interests of the Partners) of the aggregate additional Capital Contribution determined to be necessary by the General Partner not less than fifteen (15) days prior to the date the General Partner determines such additional Capital Contributions shall be made by the Partners. (b) All Call Notices shall be expressed in U.S. dollars and shall state the date on which payment is due and the bank(s) or account(s) to which payment is to be made. Each Call Notice shall specify in reasonable detail the purpose(s) for which such Required Contribution is required and the amount of the Required Contribution to be made by each Partner pursuant to such Call Notice. Each Partner shall contribute its Required Contribution within five (5) Business Days of the date of delivery of the relevant Call Notice. The Partnership shall use the proceeds of such Required Contributions exclusively for the purpose specified in the relevant Call Notice.

Appears in 11 contracts

Samples: Limited Partnership Agreement (Noble Midstream Partners LP), Limited Partnership Agreement (Noble Midstream Partners LP), Limited Partnership Agreement (Noble Midstream Partners LP)

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Capital Contribution Events. (a) Notwithstanding anything in Section 4.2 to the contrary, whenever the General Partner Managing Member determines in good faith that additional Capital Contributions in cash from the Partners Members are necessary to fund the PartnershipCompany’s operations, the General Partner Managing Member may issue a notice to each Partner Member (a “Call Notice”) for an additional Capital Contribution by each Partner Member (a “Required Contribution”) in an amount equal to such PartnerMember’s pro rata portion (based on the Percentage Interests of the PartnersMembers) of the aggregate additional Capital Contribution determined to be necessary by the General Partner Managing Member not less than fifteen (15) days prior to the date the General Partner Managing Member determines such additional Capital Contributions shall be made by the PartnersMembers. (b) All Call Notices shall be expressed in U.S. dollars and shall state the date on which payment is due and the bank(s) or account(s) to which payment is to be made. Each Call Notice shall specify in reasonable detail the purpose(s) for which such Required Contribution is required and the amount of the Required Contribution to be made by each Partner Member pursuant to such Call Notice. Each Partner Member shall contribute its Required Contribution within five (5) Business Days of the date of delivery of the relevant Call Notice. The Partnership Company shall use the proceeds of such Required Contributions exclusively for the purpose specified in the relevant Call Notice.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Oasis Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP)

Capital Contribution Events. (a) Notwithstanding anything in Section 4.2 4.2(b) to the contrary, whenever the General Partner determines in good faith that additional Capital Contributions in cash from the Partners are necessary to fund the Partnership’s Annual Plan or otherwise fund its operations, the General Partner may issue a notice to each Partner (a “Call Notice”) for an additional Capital Contribution by each Partner (a “Required Contribution”) in an amount equal to such Partner’s pro rata portion (based on the Percentage Interests of the Partners) of the aggregate additional Capital Contribution determined to be necessary by the General Partner not less than fifteen (15) days prior to the date the General Partner determines such additional Capital Contributions shall be made by the Partners. (b) All Call Notices shall be expressed in U.S. dollars and shall state the date on which payment is due and the bank(s) or account(s) to which payment is to be made. Each Call Notice shall specify in reasonable detail the purpose(s) for which such Required Contribution is required and the amount of the Required Contribution to be made by each Partner pursuant to such Call Notice. Each Partner shall contribute its Required Contribution within five (5) Business Days of the date of delivery of the relevant Call Notice. The Partnership shall use the proceeds of such Required Contributions exclusively for the purpose specified in the relevant Call Notice.

Appears in 3 contracts

Samples: Limited Partnership Agreement (CONE Midstream Partners LP), Limited Partnership Agreement (CONE Midstream Partners LP), Limited Partnership Agreement (CONE Midstream Partners LP)

Capital Contribution Events. (a) Notwithstanding anything in Section 4.2 to the contrary, whenever all of the General Partner determines in good faith Member unanimously determine that additional Capital Contributions in cash from the Partners Members are necessary to fund the PartnershipCompany’s operations, the General Partner Managing Member may issue a notice to each Partner Member (a “Call Notice”) for an additional Capital Contribution by each Partner Member (a “Required Contribution”) in an amount equal to such PartnerMember’s pro rata portion (based on the Percentage Interests of the PartnersMembers) of the aggregate additional Capital Contribution determined to be necessary by the General Partner Members not less than fifteen (15) days prior to the date the General Partner determines Managing Member determine such additional Capital Contributions shall be made by the PartnersMembers. (b) All Call Notices shall be expressed in U.S. dollars and shall state the date on which payment is due and the bank(s) or account(s) to which payment is to be made. Each Call Notice shall specify in reasonable detail the purpose(s) for which such Required Contribution is required and the amount of the Required Contribution to be made by each Partner Member pursuant to such Call Notice. Each Partner Member shall contribute its Required Contribution within five ten (510) Business Days of the date of delivery of the relevant Call Notice. The Partnership Company shall use the proceeds of such Required Contributions exclusively for the purpose specified in the relevant Call Notice.

Appears in 3 contracts

Samples: Contribution, Assignment and Assumption Agreement (BP Midstream Partners LP), Limited Liability Company Agreement (BP Midstream Partners LP), Limited Liability Company Agreement (BP Midstream Partners LP)

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Capital Contribution Events. (a) Notwithstanding anything in Section 4.2 to the contrary, whenever the General Partner determines in good faith that additional Capital Contributions in cash from the Partners are necessary to fund the Partnership’s Annual Plan or otherwise fund its operations, the General Partner may issue a notice to each Partner (a “Call Notice”) for an additional Capital Contribution by each Partner (a “Required Contribution”) in an amount equal to such Partner’s pro rata portion (based on the Percentage Interests of the Partners) of the aggregate additional Capital Contribution determined to be necessary by the General Partner not less than fifteen (15) days prior to the date the General Partner determines such additional Capital Contributions shall be made by the Partners. (b) All Call Notices shall be expressed in U.S. dollars and shall state the date on which payment is due and the bank(s) or account(s) to which payment is to be made. Each Call Notice shall specify in reasonable detail the purpose(s) for which such Required Contribution is required and the amount of the Required Contribution to be made by each Partner pursuant to such Call Notice. Each Partner shall contribute its Required Contribution within five (5) Business Days of the date of delivery of the relevant Call Notice. The Partnership shall use the proceeds of such Required Contributions exclusively for the purpose specified in the relevant Call Notice.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Howard Midstream Partners, LP), Limited Partnership Agreement (Howard Midstream Partners, LP)

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