Capital Contributions and Commitments Clause Samples
Capital Contributions and Commitments. (a) Not later than seven days following the execution and delivery of this Agreement, each Initial Member shall make a capital contribution (each, an “Initial Capital Contribution”), in an amount [**]. The Initial Capital Contributions of the Members shall only be used to pay Patent Acquisition and Operating Expenses; provided that, except as otherwise provided in Schedule 4.02(c)(i) or Schedule 4.02(c)(ii), any portion of the Initial Capital Contributions may be used to pay Patent Litigation Expenses if approved by the affirmative vote of the [**] Directors constituting the Company Board.
(b) Upon the admission of an Additional Member . who is not a Permitted Transferee of a Member, such Additional Member shall make, concurrently with the effectiveness of the admission of such Additional Member, a capital contribution in an amount determined by the Company Board (unless, and as, otherwise determined by an action, resolution or decision of the Members), in exchange for the issuance by the Company of one Membership Interest.
(c) The Company Board shall determine, in accordance with and subject to the voting requirements set forth in Section 4.02(c), the amount, form, timing and terms of any Subsequent Capital Contributions to fund Patent Acquisition and Operating Expenses, and will notify the Members of such decision and the Members’ obligations in respect thereof. Any Subsequent Capital Contribution to fund Patent Acquisition and Operating Expenses shall be allocated on a pro rata basis among the Members, with each Member making an equal Capital Contribution regardless of the number of Membership Interests held by such Member. Each Member shall make Subsequent Capital Contributions as and when directed by the Company Board in accordance with this Section 6.01(c); provided that, except as specified in Section 6.01(f), (i) no Subsequent Capital Contributions to fund Patent Acquisition and Operating Expenses may be required until [**], (ii) Subsequent Capital Contributions of any Member pursuant to this Section 6.01(c) may not exceed, together with all Subsequent Capital Contributions made by such Member pursuant to Section 6.01 (d), $[**] in the aggregate in the period beginning on the date of this Agreement and ending on [**] and (iii) no Subsequent Capital Contributions may be required on or after [**]. Except as otherwise provided in Schedule 4.02(c)(i) or Schedule 4.02(c)(ii), any portion of the proceeds of any Subsequent Capital Contribution made pursua...
Capital Contributions and Commitments. Each Member hereby agrees to make Capital Contributions in the amount set forth opposite its name in the Schedule (such amount, a "CAPITAL COMMITMENT") pursuant to Capital Calls (as defined herein) (such capital contributions agreed to be made being referred to herein in the aggregate for one or more Members, as the context may require, as the "Capital Contributions").
Capital Contributions and Commitments. (a) Each Member shall make Capital Contributions to the Company up to the aggregate amount of such Member’s Remaining Capital Commitment. Each Member will be required to make a minimum Capital Contribution equal to the remaining amount of their respective Capital Commitment noted in the Subscription Document of such Member, except to the extent that such minimum is waived or reduced by the Managing Member.
(b) Each Class A Member and Class B Member shall be required to make an initial Capital Contribution of an amount that is no less than ten thousand dollars ($10,000.00); provided, however, that the Managing Member may waive this requirement in its sole discretion.
Capital Contributions and Commitments