Capital Contributions, Purchase of Interests and Admission of Members Sample Clauses

Capital Contributions, Purchase of Interests and Admission of Members. (a) Until the Unfunded Capital Commitment of the Capital Member is zero, the Capital Member shall make Capital Contributions in an amount equal to the total Capital Contribution called pursuant to Section 3.1(b). (b) Requests by the Company for Capital Contributions will be in such amounts and at such times as shall be determined by the Board of Directors with the approval of Quantum. Each time the Board of Directors calls for additional Capital Contributions to the Company, the Board of Directors shall give the Capital Member a written notice specifying (i) the transaction or purposes for which such contribution is requested, (ii) the aggregate amount of the Capital Contribution requested, (iii) the date by which such Capital Contribution is required to be funded, which shall, unless waived by the Capital Member, be not less than fifteen (15) Business Days after such notice is given to the Capital Member and (iv) wiring instructions for the depository institution and account into which such Capital Contribution shall be made. Excluding calls for Capital Contributions for approved acquisitions or investments, the Board of Directors shall endeavor to make no more than one capital call per quarter and in not less than a minimum amount per call to be established by the Board of Directors. Notwithstanding anything herein to the contrary, any obligation of the Capital Member to make any Capital Contributions pursuant to this Section 3.1 shall not create any rights, remedies or claims in favor of or enforceable by any Person who is not a party to this Agreement. (c) Quantum will be admitted as the Capital Member upon the execution of a signature page attached hereto. A new Capital Member will be admitted as a Member of the Company with respect to its Capital Interest upon the execution of a signature page attached hereto or a joinder agreement reflecting its agreement to be bound by all of the terms and conditions of this Agreement, which joinder agreement will, at a minimum, set forth the Capital Commitment of such Capital Member. (d) LINN Incentive Members will be admitted as Members of the Company with respect to their LINN Incentive Interests pursuant to the terms and conditions of the LINN Incentive Pool Plan (i) with respect to LINN, upon its execution of this Agreement reflecting its agreement to be bound by all of the terms and conditions of this Agreement, including Exhibit D attached hereto and the LINN Incentive Pool Plan or (ii) with respect to any W...
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Related to Capital Contributions, Purchase of Interests and Admission of Members

  • 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.

  • 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.

  • 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:

  • Initial Capital Contribution and Ownership The Trust Beneficial Owner has paid or has caused to be paid to, or to an account at the direction of, the Trustee, on the date hereof, the sum of $15 (or, in the case of Notes issued with original issue discount, such amount multiplied by the issue price of the Notes). The Trustee hereby acknowledges receipt in trust from the Trust Beneficial Owner, as of the date hereof, of the foregoing contribution, which shall be used along with the proceeds from the sale of the series of Notes to purchase the Funding Agreement. Upon the creation of the Trust and the registration of the Trust Beneficial Interest in the Securities Register (as defined in the Trust Agreement) by the Registrar in the name of the Trust Beneficial Owner, the Trust Beneficial Owner shall be the sole beneficial owner of the Trust.

  • Member Capital Contributions (Check One)

  • Capital Contributions and Distributions 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.

  • 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.

  • 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 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.

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