Capital Contributions and Loans. (a) Initial Capital Contributions shall be made as follows:
(i) Each PCP and Specialist Member shall acquire one (1) PCP or Specialist Unit, respectively, in return for a Capital Contribution of Two Hundred Fifty Dollars ($250).
(ii) Each Auxiliary Member shall acquire one (1) Auxiliary Unit with the rights set forth in this Agreement in return for a Capital Contribution of Two Hundred Fifty Dollars ($250).
(iii) The System Member shall acquire System Units in return for a Capital Contribution of an aggregate amount which, when added to the aggregate amounts contributed to capital of the Company by the other Members, will equal 49% of the Company’s total capital. This calculation represents the Board’s good faith estimate of the percentage of total cash flow from Company managed care contracts that will be paid to the System Member for services rendered to patients. The Capital Contribution of the System Member may be paid in installments on a basis to be determined by Supermajority Approval of the Board. Notwithstanding the provisions of this section, no additional capital contribution from the System Member will be due after the first anniversary of the Board’s decision to require a Capital Contribution, except that the System Member shall be required to make any additional Capital Contributions required by Section 5.1(c).
Capital Contributions and Loans. The Member has contributed property to the Company as the initial Capital Contribution as set forth opposite its name on Schedule I attached hereto.
Capital Contributions and Loans. (a) The Partners shall each make the following Capital Contributions to the Partnership:
(i) Unique has contributed $1.00 in cash to the capital of the Partnership.
(ii) URC has contributed $99.00 in cash to the capital of the Partnership.
(iii) Xxxxxx shall make its capital contribution to the Partnership by paying the Partnership the portion of the "Purchase Price" to be allocated to the Partnership pursuant to the terms of, and as such term is described in, that certain Partnership Interest Subscription Agreement dated December 30, 1997, by and among Xxxxxx Enterprises, Inc., Max's Beach Grill, Ltd., Max's Beach Grill, Ltd., Unique Weston, Ltd. and Unique TBA, Ltd.
(b) No Partner shall be obligated to make any additional Capital Contribution or loan to the Partnership. Partners shall be permitted to make Capital Contributions and loans in addition to the foregoing to the Partnership with the prior written consent of the General Partner. All loans made by Partners to the Partnership shall be demand loans bearing interest at the Stipulated Rate unless otherwise provided in the documentation evidencing any such loans.
Capital Contributions and Loans. The Sole Member has contributed cash to the Company in the amounts set forth as the initial Capital Contribution opposite his name on Schedule I attached hereto.
Capital Contributions and Loans. The sole Member has contributed cash or property to the Company in the amount set forth as the initial Capital Contribution opposite its name on Schedule 1 attached hereto. The Member shall have no duty or obligation to make any other contributions to the capital of the Company for any purpose. All capital contributions by the Member shall be recorded on the records of the Company. Property owned by the Member shall in no event be deemed owned by the Company unless there is a writing affirmatively evidencing the Member’s intent to transfer title to such property to the Company.
Capital Contributions and Loans. Contemporaneously with the execution of this Agreement, the Member has contributed to the Company the cash or property described on Schedule 1 attached hereto. The member shall have no obligation to make any further or additional Capital Contributions to the Company.
Capital Contributions and Loans. Initial Capital Accounts and Percentage Interests. The initial or restated Common Capital Account, the initial Preferred Capital Account, the initial or restated Common Percentage Interest and/or the initial Preferred Percentage Interest, as the case may be, of each Member shall be as set forth opposite such Member's name on either Exhibit A or Schedule A attached hereto.
Capital Contributions and Loans. 4 3.1 Initial Capital Contributions; Issuance of Shares................................. 4 3.2 Intentionally Left Blank.......................................................... 5 3.3 Obligation to Make Capital Contributions.......................................... 5 3.4 No Interest on Contributions...................................................... 5 3.5 Loans to or by Members............................................................ 5 ARTICLE IV DISTRIBUTIONS........................................................................................ 6
Capital Contributions and Loans. 5 5.1 Initial Capital Contributions; Percentage Interests....................5 5.2
Capital Contributions and Loans. 5.1 A separate capital account shall be maintained for each Member (collectively, the “Capital Accounts”). Each Member’s Capital Account shall be the total of the amounts contributed by that Member to the capital of the Company, and shall be increased or decreased, as the case may be, as set forth below.
5.2 Each of the Members has made a contribution to the capital of the Company (the “Initial Capital Contributions,” which, together with any additional contribution made by a Member to the capital of the Company, shall be referred to as each Member’s “Capital Contribution”). No interest shall be paid on the Capital Contributions of the Members.
5.3 No Member shall be required to make any additional Capital Contributions or loans to the Company.
5.4 Each Member’s Capital Account shall be maintained as follows:
(a) Each Member’s Capital Account shall be increased by:
(i) the amount of any money contributed by the Member to the Company, or paid by the Member on behalf of the Company;
(ii) the fair market value of any property contributed by the Member to the Company (net of liabilities securing such contributed property that the Company is considered to assume or take subject to); and
(iii) allocations to the Member of any Company profit (or item thereof), as specified in Section 1.704-1(b) of the U.S. Department of the Treasury Income Tax Regulations (the “Regulations”), including income and gain exempt from tax and income and gain described in Section 1 .704-1(b)(2)(iv)(g) of the Regulations, but excluding income and gain described in Section 1 .704-1(b)(4)(i) of the Regulations.
(b) Each Member’s Capital Account shall be decreased by:
(i) the amount of any money (other than compensation for services rendered) distributed to the Member by the Company;
(ii) the fair market value of any property distributed to the Member by the Company (net of liabilities securing such distributed property that such Member is considered to assume or take subject to);
(iii) allocations to the Member of any Company expenditures not deductible in computing the Company’s taxable income and not properly chargeable to a capital asset account; and
(iv) allocations to the Member of any Company loss or deduction (or item thereof), as specified in Section 1.704-1(b) of the Regulations.
5.5 The provisions of Section 5 hereof relating to the maintenance of Capital Accounts are intended to comply with Section 1.704-1(b) of the Regulations and shall be interpreted and applied in a manner c...
