Capital Contributions Required Sample Clauses

Capital Contributions Required. Upon execution and delivery of this Agreement by the Venturers, the Venturers shall contribute to the Joint Venture, by providing a deposit to the Escrow for purposes of closing the purchase of the Joint Venture Real Property: Milco: $232,500.00 + thirty percent (30%) of the Buyer’s costs and expenses of closing IMMC: $542,500.00 + seventy percent (70%) of the Buyer’s costs and expenses of closing. The Venturers each acknowledge that the Capital Contributions to the Joint Venture account as stated in this Section 9.01 must be made in immediate accessible U. S. funds and must be provided in a timely manner to facilitate the close of the purchase within two (2) business days of receiving Court approval to the sale transaction. The Venturers anticipate the Court approval of the sale will be made on April 9, 2004. The Venturers further acknowledge that the failure to provide their respective Capital Contributions would jeopardize the purchase of the Joint Venture Property.
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Capital Contributions Required. A person may not be admitted as an Additional Member of the Company and may not acquire any Units without making a contribution to the Company or assuming an obligation to make a contribution to the Company.
Sample 1

Related to Capital Contributions Required

  • 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.

  • Member Capital Contributions (Check One)

  • 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 Distributions 17 TABLE OF CONTENTS (continued)

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

  • 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 and Accounts 12 4.1 Capital Contributions..........................................................................12 4.2 Additional Capital Contributions and Issuances of Additional Partnership Interests.............12 4.3

  • Additional Funds and Capital Contributions 30 SECTION 4.4 NO INTEREST; NO RETURN................................................................... 31 SECTION 4.5 NOTE DEFICIENCY CAPITAL CONTRIBUTION..................................................... 31

  • No Additional Capital Contributions Except as otherwise provided in this Article V, no Partner shall be required to make additional Capital Contributions to the Partnership without the consent of such Partner or permitted to make additional capital contributions to the Partnership without the consent of the General Partner.

  • 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.

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