Common use of Contributions by the Company Clause in Contracts

Contributions by the Company. After all of the Members have made their initial Capital Contributions to the Company under Section 3.1.2, the Manager shall cause the Company to make a Contribution to an eligible charity in an amount equal to the initial Capital Contributions of the Members within 60 days following the Company's receipt of an approval letter from the Commonwealth of Pennsylvania that authorizes the Company to participate in the EITC and/or the OSTC tax credit programs, as applicable. After all of the Members have made their second Capital Contributions to the Company under Section 3.1.3, the Manager shall cause the Company to make a second and final Contribution to an eligible charity in an amount equal to the second Capital Contributions of the Members.

Appears in 5 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

AutoNDA by SimpleDocs

Contributions by the Company. After all of the Members have made their initial Capital Contributions to the Company under Section 3.1.2, the Manager shall cause the Company to make a Contribution to an eligible charity the Charity in an amount equal to the initial Capital Contributions of the Members within 60 days following the Company's receipt of an approval letter from the Commonwealth of Pennsylvania that authorizes the Company to participate in the EITC and/or the OSTC tax credit programs, as applicable. After all of the Members have made their second Capital Contributions to the Company under Section 3.1.3, the Manager shall cause the Company to make a second and final Contribution to an eligible charity the Charity in an amount equal to the second Capital Contributions of the Members.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!