Capital Contributions; Units Sample Clauses
The 'Capital Contributions; Units' clause defines how and when members or partners are required to provide financial contributions to the business and how these contributions translate into ownership interests, often referred to as units. It typically outlines the initial capital each party must contribute, the process for making additional contributions if needed, and how these contributions affect each member's percentage of ownership or voting rights. This clause ensures that the business is adequately funded and that ownership stakes are clearly allocated based on the amount each party invests, thereby preventing disputes over equity and financial obligations.
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Capital Contributions; Units. (a) As of the date first above written, the Partners have the Percentage Interests in the Partnership as set forth in Exhibit A which Percentage Interests 23 shall be adjusted to the extent necessary to reflect properly exchanges, redemptions or conversions of Partnership Interests, Capital Contributions, the issuance of additional Partnership Interests or any other event having an effect on a Partner's Percentage Interest, in each case to the extent permitted by and in accordance with this Agreement. Except to the extent specifically set forth in this Agreement with respect to the General Partner, the Partners shall have no obligation to make any additional Capital Contributions or loans to the Partnership, even if the failure to do so could result in the Bankruptcy or insolvency of the Partnership or any other adverse consequence to the Partnership.
(b) The General Partner shall, from time to time, contribute cash or Property to the Partnership such that the Percentage Interest of the General Partner shall at all times be at least one (1) percent and the Capital Account balance of the General Partner shall be at least the lesser of $500,000 or one (1) percent of the total positive Capital Account balances for the Partnership.
(c) The interest of a Partner (or an assignee of a Partner) in capital, allocations of Net Income, Net Loss and distributions shall be evidenced by the issuance to such Partner (or assignee) of one or more "Units." Notwithstanding the foregoing, the interest of a Class A Limited Partner (or an assignee of a Class A Limited Partner) in capital, allocations of Net Income, Net Loss and distributions, including Special Class A Distributions, and Class A Preferred Return, if any, shall be evidenced by the issuance to such Class A Limited Partner (or assignee) of one or more "Class A Units." The aggregate total of all Units and Class A Units outstanding and the ownership of such Units and Class A Units by each Partner and Class A Limited Partner are as set forth on Exhibit A and Exhibit A-1 hereto, respectively, which Exhibits shall be updated by the General Partner to reflect changes in the holdings of Units and Class A Units by the Partners.
(d) From time to time, the General Partner may cause the Partnership to issue additional Partnership Interests to existing or newly-admitted Partners in exchange for additional Capital Contributions (including Capital Contributions pursuant to Section 4.1(b)). If the General Partner contributes to t...
Capital Contributions; Units. Contemporaneous with the execution by the Sole Member of this Agreement, the Sole Member has made or is making the capital contribution and receiving units (“Units”) in the Company in exchange therefor as set forth on the attached Schedule A.
Capital Contributions; Units. The Member shall make such Capital Contributions as it may determine from time to time. The Member shall receive 100 units.
Capital Contributions; Units. (a) The Capital Contributions of each Member shall be represented by membership units or fractions thereof ("Units," and each, a "Unit"). At the initial date of this Agreement, the number of Units and the corresponding Capital Contribution (which shall, in the case of Meck▇▇▇ ▇▇▇ his Affiliates, be equal to the amount paid by Meck▇▇▇ ▇▇▇ his Affiliates to Internet World for their respective interests in the Company) and Ownership Percentage for each Member shall be as set forth on Exhibit A attached hereto. Exhibit A shall be amended from time to time in accordance with the terms hereof to reflect (i) the admission of new Members and (ii) appropriate adjustments to such Ownership Percentages and Capital Contributions.
(b) Except as provided in SECTION 2.7 or SECTION 3.2, no Person (including any Member) shall be required or permitted to make any additional Capital Contribution to the Company.
Capital Contributions; Units. Initial Capital Contributions; Units 8 5.2 Additional Capital Contributions 9 5.3 Return of Contributions 10 5.4 Advances by Members 10
Capital Contributions; Units. Upon receipt (or deemed receipt) of the Capital Contribution set forth opposite such Member’s name on the Schedule of Members, each Member shall be deemed to own the number and class or series of Units set forth opposite such Member’s name on the Schedule of Members. Holdings LLC may issue fractional Units. The Board may, in its discretion, provide any holder of Incentive Units a copy of the Schedule of Members in summary form, omitting the number, class and series of Units held by each other Holder. The ownership by a Holder of Class A Units, Class B Units, Class C Units and/or Incentive Units shall entitle such Holder to Distributions of cash and other property as set forth in this Agreement.
Capital Contributions; Units. The beneficial interests in the Trust shall consist of two types: a general liability interest and limited liability Units. The Managing Owner shall acquire the general liability interest, and investors shall all acquire limited liability Units. Upon the initial contribution by the Managing Owner to the Trust, the Managing Owner became the holder of the general liability interest of the Trust. No certificates or other evidences of beneficial ownership of the Units will be issued. The Unitholders’ respective capital contributions to the Trust shall be as shown on the books and records of the Trust. Every Unitholder, by virtue of having purchased or otherwise acquired Units, shall be deemed to have expressly consented and agreed to be bound by the terms of this Declaration and Agreement of Trust. Any Units acquired by the Managing Owner or any of its affiliates will be non-voting, and will not be considered outstanding for purposes of determining whether the majority approval of the outstanding Units has been obtained. The general liability interest in the Trust held by the Managing Owner will be non-voting.
Capital Contributions; Units. (a) As of the Effective Date and as described in the Contribution Agreement, the Members have made Capital Contributions to the Company in the amounts set forth on Exhibit C attached hereto. Each Member’s Percentage Interest as of the Effective Date is set forth opposite such Member’s name on Exhibit D attached hereto. The issue price of each Unit issued shall be one thousand dollars (US$1,000) (the “Unit Issue Price”). Fractional Units may be issued, except as otherwise provided herein.
(b) Each Unit shall be entitled to one (1) vote at any meeting of the Members of the Company as provided under the Act.
Capital Contributions; Units. The Partners’ respective capital contributions to the Partnership in respect of a Series shall be as shown on the books and records of the applicable Series.
Capital Contributions; Units. AND ADVANCES