Capital Contributions Profits and Losses Sample Clauses

Capital Contributions Profits and Losses. 2.1 Anticipated Capital Requirements (a) The total capital needs of the Partnership to fund the development, operation (including operating losses), maintenance and sale of self-service storage facilities of the Partnership and the administration of the Partnership's business and affairs are estimated to total approximately $88,000,000. Of the Partnership's total capital needs, 30% are to be funded through capital contributions by the Partners as provided in Section 2.2. Any remaining amounts of Partnership capital needs will be funded through a credit facility obtained by the Partnership (the "Credit Facility"), such that of the Partnership's total estimated capital needs, the capital contributions of the Partners and the Credit Facility fund 30% and 70%, respectively. The Partnership shall not enter into the Credit Facility unless the terms thereof are mutually agreeable to each of the Partners. The Partners currently contemplate that the Credit Facility may be obtained from a third-party lender; however, if the Partnership has not obtained a Credit Facility from a third-party lender on or prior to March 26, 1999, then Shurgard may, itself or through SSCI, provide the Credit Facility to the Partnership on the terms set forth in Section 2.1(c). (b) If the Credit Facility is obtained from a third-party lender and is secured by the Properties, the aggregate Carrying Value of the Properties contributed by SSCI shall be increased by $50,000 to reflect SSCI's increased internal costs resulting from the Partnership electing a secured Credit Facility. If the Credit Facility is obtained from a third-party lender and is not secured, SSCI agrees that it will bear the risks associated with any required guarantee (as to principal or interest) provided that the Carrying Value of property contributed by SSCI similarly be increased by the amount of any third-party costs incurred by SSCI associated with bearing such risks (but not including the payment of such principal or interest). (c) If the Partnership has not obtained a Credit Facility from a third-party lender on or prior to March 15, 1999, then Shurgard may, itself or through SSCI, provide an approximately $61,600,000 non-revolving line of credit to the Partnership on the terms set forth on the loan term sheet dated December 5, 1998, or on such other terms as Shurgard or SSCI and the Partnership may agree. Notwithstanding Shurgard's election to provide the non-revolving line of credit contemplated by this Section ...
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Capital Contributions Profits and Losses. Section 2.1. Capital Contributions Each Partner has made a contribution to the Partnership capital on the date hereof in the respective value of the assets transferred to the Partnership pursuant to the Contribution Agreement.
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Capital Contributions Profits and Losses 
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Related to Capital Contributions Profits and Losses

  • Profits and Losses Distributions Until the admission of additional Members, the Original Member shall be entitled to all allocations of LLC profits and losses and to allocations of distributions.

  • Profits and Losses For financial accounting and tax purposes, the Company’s net profits or net losses shall be determined on an annual basis in accordance with the manner determined by the Board. In each year, profits and losses shall be allocated entirely to the 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.

  • Allocations of Profits and Losses Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of income, gain or loss or deduction of the Partnership) shall be allocated in a manner such that the Capital Account of each Partner after giving effect to the Special Allocations set forth in Section 5.05 is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made pursuant to Article IV if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Partnership liabilities were satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Partnership were distributed to the Partners pursuant to this Agreement, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. For purposes of this Article V, each Unvested Unit shall be treated as a Vested Unit. Notwithstanding the foregoing, the General Partner shall make such adjustments to Capital Accounts as it determines in its sole discretion to be appropriate to ensure allocations are made in accordance with a partner’s interest in the Partnership.

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