Capital Contributions; Issuance of Units. (a) No Member shall be obligated to make any additional Capital Contributions to the Company or to pay any assessment to the Company, other than the unpaid portion of such Member’s written agreement to make Capital Contributions, and no Units shall be subject to any mandatory assessment, requests or demands for capital.
Capital Contributions; Issuance of Units. (a) Each Unit issued and outstanding as of the Effective Date is hereby automatically converted into, designated, and shall hereafter be deemed to be and shall be, a Class B Unit.
Capital Contributions; Issuance of Units. Previously or concurrently with the effective date of this Agreement, the initial Members, also called the Class A Members, have each contributed to the Company the amount of cash, property or other consideration set forth opposite such Class A Member’s name on Exhibit A hereto.
Capital Contributions; Issuance of Units. CAPITAL ACCOUNTS
Capital Contributions; Issuance of Units. Each Party subscribes to contribute land and/or money to the Company as follows:
Capital Contributions; Issuance of Units. On the date of this Agreement:
Capital Contributions; Issuance of Units. (a) The Members shall make contributions to the capital of the Company by purchasing Units for $5,000 per Unit with an initial minimum subscription of $5,000 (1 Unit) per Member (including subscriptions from entities of which such Member is the sole beneficial owner). Notwithstanding the foregoing, the Manager may accept subscriptions for less than the initial minimum subscription and may accept subscriptions of less than 3 Units or may issue fractional Units in its discretion.
Capital Contributions; Issuance of Units. (a) A SCHEDULE A to this Agreement (which SCHEDULE A is hereby incorporated into this Agreement) shall be maintained in accordance with this Agreement, which SCHEDULE A shall include a current list of the full name and last known business or residence address of each Unit Holder set forth in alphabetical order, the Capital Contributions and Units of each Unit Holder (including the amount of cash and description and statement of the agreed value of any other property or services relating to such Capital Contributions), the amount and value of any Capital Contributions which any Member or potential Member has agreed to make pursuant to a contribution agreement or a contribution allowance agreement (including the time or times at which or events the happening of which such Capital Contributions are to be made or, in the case of a contribution allowance agreement, such right to contribute lapses), and which SCHEDULE A shall be amended from time to time as Transfers occur or as additional Units are issued and as additional Members are admitted to the Company in accordance with this Agreement, and which SCHEDULE A, together with the other applicable provisions of this Agreement, shall constitute the statement of membership interests in the Company provided for by the Act.
Capital Contributions; Issuance of Units. (a) Capital Contribution upon Issuance of Units - Generally. Upon the issuance of any Unit to any Member, except as provided in Section 6(c), such Member shall make a Capital Contribution to the Company in the amount set forth in any purchase, subscription or contribution agreement entered into with respect to such Unit.
Capital Contributions; Issuance of Units. On the date hereof, (i) Xxxxxxx has contributed to the Company the oil and gas assets described in the Contribution Agreement (having a deemed value of $4.0 million) and has received in exchange therefor 4,000,000 Units; and (ii) HKN has contributed to the Company the sum of $4.0 million in cash and has received in exchange therefor 4,000,000 Units.
