Company Funding and Additional Capital Contribution Sample Clauses

Company Funding and Additional Capital Contribution i. The Initial Loan: a. As part of the Initial Investment, Tharawat will provide an interest free loan to the Company in an amount which will be determined by the Business Plan (the "Initial Loan"). b. The Initial Loan shall be paid back from the revenues of the Company and the Business. Safe for statuary payments and reserves which will have a priority under the Applicable Law, the Initial Loan shall have a priority over any dividend distribution or any other payments which could be made out by the Company excluded the general operational expenses of the Company and the Management Fee as stipulated in Clause 6.3v considered it as a general and operational expense. The Members will not be entitled to receive any dividend until such time when the Initial Loan is fully repaid to Tharawat. c. The Parties hereby agree, confirm and acknowledge that all assets of the Company shall be pledged to the benefit of Tharawat and shall remain under pledge to the benefit of Tharawat until the Initial Loan is fully paid back. Accordingly, the Board of Directors shall not, and the Members shall not direct or cause any Director to, under any circumstances dispose of any assets owned by the Company without the prior written approval of Tharawat. Moreover, the Initial Loan shall be due and payable in full, to the extent then unpaid, on the date of termination of this Agreement and dissolution of the Company in accordance with this Agreement. ii. Additional capital contributions: a. Additional capital contributions shall be made in the amounts and at the times determined by the unanimous vote of the Members. b. In the event that a Member does not make a timely additional capital contribution as required by this Clause 3.3ii ("Defaulting Member"), the other Member, at its option, may elect to advance to the Company, as a loan to the Defaulting Member, an amount up to or equal to the amount that the Defaulting Member failed to contribute. Such loan shall be referred to herein as a "Default Loan". Each Default Loan shall be evidenced by such documents and shall be on such terms and conditions as are customary in transactions of this type and are reasonably acceptable to the lending Member; provided that each Default Loan shall be repaid from any cash distributed to the Defaulting Member with the approval of the Board of Directors and, to the extent then unpaid, shall be due and payable in full on the date of termination of this Agreement and dissolution of the Company in accordan...
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Related to Company Funding and Additional Capital Contribution

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

  • 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.

  • Initial Capital Contribution The initial Capital Contribution of the Original Member as of the date of this Agreement will be $ .

  • 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.

  • Initial Capital Contribution of Trust Estate As of the date of the Original Trust Agreement, the Seller sold, assigned, transferred, conveyed and set over to the Owner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Seller, as of such date, of the foregoing contribution, which shall constitute the initial Trust Estate and shall be deposited in the Collection Account.

  • 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.

  • 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.

  • Member Capital Contributions (Check One)

  • 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:

  • Member and Capital Contribution The name and the business address of the Member and the amount of cash or other property contributed or to be contributed by the Member to the capital of the Company are set forth on Schedule A attached hereto and shall be listed on the books and records of the Company. The managers of the Company shall be required to update the books and records, and the aforementioned Schedule, from time to time as necessary to accurately reflect the information therein. The Member shall not be required to make any additional contributions of capital to the Company, although the Member may from time to time agree to make additional capital contributions to the Company.

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