Capital Contributions by Member Sample Clauses

Capital Contributions by Member. The Member is not obligated to make any Capital Contributions to the Company.
Sample 1Sample 2Sample 3See All (10)
AutoNDA by SimpleDocs
Capital Contributions by Member. The Member shall contribute capital to the Company as and when it determines in its sole discretion. Any such contributions shall be recorded in the books and records of the Company
Sample 1
Capital Contributions by Member. The Member shall make the following contributions of cash, property or services to the LLC, on or by specified dates, as shown next to the Member’s name below. The fair market values of items of property or services as agreed between the LLC and the contributing member are also shown below. Name of Member: [NAME] Value of Capital Payment: Intellectual Property & Consulting Services -OR - Intellectual Property, Consulting Services, and a Capital Contribution of $[CASH] Date of Payment: DATE Comment [RMP27]: Repeat this format for each and every Member of the LLC. Each Member must make a contribution in exchange for an ownership interest. That contribution can be cash or services. Designate which here. Comment [MSOffice28]: The total units (Membership shares) are 100k units. Issue the Member s a total of 60k. The 40k units remaining unissued are for future partners, investors, etc. The 40k may never be used. Because ownership is determine by a fraction, the unused 40k units have no effect on ownership %. 60k units issued divided by 60k units outstanding = 100% ownership. This allows you the flexibility to grow by adding more Members down the line. Comment [RMP29]: The Members determine when the LLC pays out to You if it sells assets. This provision is about the sale of assets NOT the distribution of profits from the sale of the services or products the LLC sells. You can create another provision if you’d like to designate when, after the LLC makes a profit on sales, it makes a distribution to its Members. Comment [RMP30]: Again, determine whether “majority” or “unanimous.” Units Issued: [UNIT AMOUNT] Units
Sample 1

Related to Capital Contributions by Member

  • 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 Distributions 17 TABLE OF CONTENTS (continued)

  • Members Capital Contributions Each Member shall contribute the amount as pledged, or as determined by the Manager and the Member, as the Member’s Initial Capital Contribution upon not less than 48 hours’ notice by the Manager. An Exhibit A may be amended from time to time by the Manager in its sole discretion to represent the current state of Capital Contributions by Members who may join to this Operating Agreement during the course of the business of the Company. The Manager may instead maintain the Capital Contributions, capital accounts and names of Members using its own office systems and personnel without updating or attaching an Exhibit A to this Operating Agreement.

  • Initial Capital Contributions (a) The Partners have made, on or prior to the date hereof, Capital Contributions and, in exchange, the Partnership has issued to the Partners 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.

  • Capital Contributions of the Partners (a) The Partners have made the Capital Contributions as set forth in Exhibit A.

  • 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.

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

  • 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!