Capital Contributions of Limited Partner and Special Limited Partner Sample Clauses

Capital Contributions of Limited Partner and Special Limited Partner. Section 7.1 Withdrawing Limited Partner. The Withdrawing Limited Partner made a Capital Contribution of $99.99. Effective as of the date of this Agreement, the Withdrawing Limited Partner's Interest has been liquidated and the Partnership has reacquired the Withdrawing Limited Partner's Interest in the Partnership. The Withdrawing Limited Partner acknowledges that it has no further interest in the Partnership as a partner as of the date of this Agreement and has released all claims, if any, against the Partnership arising out of its participation as a partner. Section 7.2 Capital Contribution of Limited Partner and Special Limited Partner. The Limited Partner and the Special Limited Partner shall make a Capital Contribution in the aggregate amount of $3,043,228, as may be adjusted in accordance with Section 7.4 of this Agreement, in cash on the dates and subject to the conditions hereinafter set forth. (a) $2,130,351 (which includes the Special Limited Partner's Capital Contribution of $304) shall be payable upon the Limited Partner's receipt and approval of the following documents: (1) a legal opinion in a form substantially similar to the form of opinion attached hereto as Exhibit B and incorporated herein by this reference; (2) a fully executed Certification and Agreement in the form attached hereto as Exhibit C and incorporated herein by this reference; (3) a copy of the Title Policy; (4) evidence of Insurance required during construction; (5) a copy of the recorded grant deed (warranty deed); (6) an executed commitment from the Lender to provide the Mortgage Loan; (7) fully executed Construction Loan documents; (8) an executed Development, Construction and Operating Budget Agreement; (9) an executed Construction Completion, Operating Deficit and Tax Credit Guaranty Agreement; (10) an executed Amended and Restated Development Fee Agreement and Development Fee Guaranty Agreement; (11) the construction draw disbursement procedure; (12) payment of $15,000 for costs and expenses in connection with the Limited Partner's or its Affiliate's underwriting of the Apartment Housing and Improvements; (13) a determination by the Special Limited Partner that the amount of the remaining Capital Contributions and other financing funds are equal to or exceed the difference between the Construction Loan and Mortgage in order to retire the Construction Loan; and (14) a determination letter from the State Tax Credit Agency satisfying the requirements of Section 42(m)(1)(D...
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Capital Contributions of Limited Partner and Special Limited Partner. Section 7.1 Original Limited Partner. The Original Limited Partner made an aggregate capital contribution of $950. Effective as of the date of this Agreement, the Original Limited Partner's Interest has been liquidated and the Partnership has reacquired the Original Limited Partner's Interest in the Partnership. The Original Limited Partner acknowledges that it has no further interest in the Partnership as a limited partner as of the date of this Agreement, and has released all claims, if any, against the Partnership arising out of its participation as a limited partner.
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Capital Contributions of Limited Partner and Special Limited Partner 
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Related to Capital Contributions of Limited Partner and Special Limited Partner

  • Capital Contributions of the Partners (a) The General Partner and Initial Limited Partner have made the Capital Contributions as set forth in Exhibit A to this Agreement. (b) To the extent the Partnership acquires any property by the merger of any other Person into the Partnership or the contribution of assets by any other Person, Persons who receive Partnership Interests in exchange for their interests in the Person merging into or contributing assets to the Partnership shall become Partners and shall be deemed to have made Capital Contributions as provided in the applicable merger agreement or contribution agreement and as set forth in Exhibit A, as amended to reflect such deemed Capital Contributions. (c) Each Partner shall own Partnership Units in the amounts set forth for such Partner in Exhibit A and shall have a Percentage Interest in the Partnership as set forth in Exhibit A, which Percentage Interest shall be adjusted in Exhibit A from time to time by the General Partner to the extent necessary to reflect accurately exchanges, additional Capital Contributions, the issuance of additional Partnership Units or similar events having an effect on any Partner’s Percentage Interest. (d) The number of Partnership Units held by the General Partner, in its capacity as general partner, shall be deemed to be the General Partner Interest. (e) Except as provided in Sections 4.2 and 10.5, the Partners shall have no obligation to make any additional Capital Contributions or provide any additional funding to the Partnership (whether in the form of loans, repayments of loans or otherwise) and no Partner shall have any obligation to restore any deficit that may exist in its Capital Account, either upon a liquidation of the Partnership or otherwise.

  • Capital Contributions and Issuance of Partnership Interests Section 5.1

  • Additional Capital Contributions and Issuances of Additional Partnership Interests Except as provided in this Section 4.2 or in Section 4.3, the Partners shall have no right or obligation to make any additional Capital Contributions or loans to the Partnership. The General Partner may contribute additional capital to the Partnership, from time to time, and receive additional Partnership Interests in respect thereof, in the manner contemplated in this Section 4.2.

  • Members Capital Contributions a) Single-Member Capital Contributions (Applies ONLY if Single-Member): The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes. b) Multi-Member (Applies ONLY if Multi-Member): The Members have contributed the following capital amounts to the Company as set forth below and are not obligated to make any additional capital contributions:

  • 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.

  • Additional Capital Contributions No Member shall be required to make additional capital contributions. A Member may make additional capital contributions to the Company.

  • Initial Capital Contributions The Partners have made, on or prior to the date hereof, Capital Contributions and have acquired the number of Class A Units as specified in the books and records of the Partnership.

  • Member Capital Contributions (Check One)

  • Substituted Limited Partner In the event a Limited Partner transfers all or any part of such Limited Partner’s Limited Partnership Interest in compliance with the provisions of this Article VIII, the transferee of the Limited Partner shall take such Limited Partnership Interest subject to all of the terms and conditions of this Agreement, shall not be considered to have title to such Limited Partnership Interest and shall not have the right to be admitted to the Partnership as a substituted Limited Partner of the Partnership unless the transferring Limited Partner has given the transferee such right and unless: (a) the Company consents in writing to the admission of the transferee into the Partnership as a substituted Limited Partner, which consent may be granted or denied in the sole discretion of the Company; and (b) the transferring Limited Partner and the transferring Limited Partner’s transferee execute and deliver such instruments as the Company deems necessary or desirable to effect such substitution; and (c) such transferee accepts, assumes and agrees in writing to be bound by all of the terms, conditions and provisions of this Agreement; and (d) such transferee pays all reasonable expenses connected with such substitution.

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

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