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 $73,000,000. 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 will 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 May 31, 1998, then Shurgard shall, itself or through SSCI, provide the Credit Facility to the Partnership on the terms set forth in Section 2.1(b). (b) If the Partnership has not obtained a Credit Facility from a third party lender on or prior to May 31, 1998, then Shurgard shall, itself or through SSCI, provide a $51,100,000 non- revolving line of credit to the Partnership on the following terms: (i) the term of the loan shall be for 48 months with an 18 month drawdown period; (ii) the rate on amounts outstanding shall be LIBOR plus 150 basis points for the first six months following commitment, and thereafter shall be LIBOR or treasuries plus 350 basis points; (iii) the loan may be refinanced without penalty at any time during its term; (iv) a commitment fee of 100 basis points on the commitment amount shall be due on the six month anniversary of the commitment unless the loan is refinanced prior to that date; and (v) the loan shall be non-recourse to the Partners, subject to a negative pledge and, if necessary, a first deed of trust on all real property of the Partnership.
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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

  • 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.

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

  • Profits and Losses Distributions The Member shall treat all of the profits and losses of the Company as its own. All distributions shall be made to the Member at times and in amounts determined by the Member or the Board of Managers. The Company shall not make distributions to the Member if such distribution would violate Section 18-607 of the Act.

  • Capital Contributions; Percentage Interest The Members shall make contributions to the Company in an amount approved by the Members. No Member shall be required or permitted to make any additional contributions without the consent of all of the Members. The percentage interest of each Member in the Company shall be as set forth in the books and records of the Company, as amended from time to time by Managing Member consent.

  • Capital Contributions Distributions 10 SECTION 5.1

  • Capital Contributions and Accounts ..................................................12 4.01 Capital Contributions.............................................................12 4.02 Additional Capital Contributions and Issuance of Additional Partnership Interests.........................................................................12 4.03

  • 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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