Contributions Generally. The capital of the Company shall initially consist of the initial contribution of the Organizational Member. After the date hereof, the Company may offer and sell unlimited additional Units (the "Additional Units") to its existing Members who desire to increase their capital contribution to the Company (the "Increasing Members") and to additional persons and entities who desire to become Members of the Company and who agree to be bound by the terms of this Agreement by signing a subscription agreement or executing a counterpart of this Agreement, as amended from time to time (the "Additional Members"). The Directors may establish, from time to time, one or more minimum investment amounts. Such offer and sale of Additional Units shall be subject to the provisions of this Agreement.
Contributions Generally. As of the effective date hereof, each Member shall have contributed or be deemed to have contributed to the Company the property or amount set forth opposite such Member’s name on the attached Schedule A. Each Member’s number of Class A Membership Units or Class B Membership Units is set forth opposite such Member’s name on Schedule A, which shall be amended from time to time upon admission of new Members or the acceptance of additional Capital Contributions as set forth herein.
Contributions Generally. (a) We will only accept cash contributions to your HSA. No property or in-kind transfers will be accepted. There is currently no minimum periodic contribution amount, but we reserve the right to require a minimum periodic contribution in the future, upon prior notice to you.
(b) All contributions made by you or on your behalf to your HSA are initially allocated to the Deposit Account. Once the balance of your Deposit Account reaches the Investment Threshold, the balance in excess of the Investment Threshold may be invested thereafter in accordance with your instructions, subject to the terms of this Agreement, the Investment Terms and Conditions, and such policies and procedures as we may implement.
(c) For payroll deductions received from your employer, your funds will generally become available one Business Day after your employer’s payroll is received and allocated to your HSA. Electronic funds transfers, including ACH credit transfers and wire transfers to your HSA, will generally be available one Business Day after the Business Day we receive the funds. If you request a transfer of funds by ACH debit transfer to your HSA, those funds will generally be available three Business Days after the day you initiate the transfer. Contributions by check generally will be available three Business Day after the check is received by us. In certain circumstances, however, longer delays may apply.
(d) We will determine the applicable interest rate payable on the balance of your Deposit Account. At our discretion, we may at any time change the interest rate and annual percentage yield. We will provide you with notice of any such change in accordance with applicable laws. The interest rate paid with respect to your HSA may be higher or lower than the interest rate available to depositors making deposits at depository institutions in comparable accounts. In addition, we reserve the right to establish (and change) balance levels on which different rates of interest may be paid. For current interest rate information, please refer to the Interest Rate disclosure.
(e) Except for Rollover Contributions described below, all contributions made by you or on your behalf to your HSA must be made in accordance with our procedures and while you are an Eligible Individual. Contributions are considered made when received except that contributions received after normal business hours will be considered made on the next Business Day that is not a holiday. For more information regardin...
Contributions Generally. All contributions to the capital of the LLC (each a “Contribution”) shall be set forth on Schedule A, as amended from time to time in accordance with the terms hereof. Except as set forth on Schedule A, no Member or Director shall be entitled or required to make any contribution to the capital of the LLC; however, the LLC may borrow from its Members as well as from banks or other lending institutions to finance its working capital or the acquisition of assets upon such terms and conditions as shall be approved by the Directors, and any borrowing from Members shall not be considered Contributions or reflected in their Capital Accounts. The value of all non-cash Contributions made by Members shall be set forth on Schedule A. No Member shall be entitled to any interest or compensation with respect to its Contribution or any services rendered on behalf of the LLC except as specifically provided in this Agreement or approved by the Board. Except as specifically provided in this Agreement, no Member shall have any liability for the repayment of the Contribution of any other Member, and each Member shall look only to the assets to the LLC for return of its Contribution.
Contributions Generally. Only cash and the Company’s com- mon stock are allowed to be rolled over, or transferred in a trustee-to-trustee transfer, to this Xxxx XXX. Any property (other than cash) you contribute to the Xxxx XXX must be the same property you received in the distribution. [Please note that separate Trust Account balances, e.g., the funds in a Xxxx Conversion IRA and a regular Xxxx XXX, cannot be commin- gled for investment purposes.]
Contributions Generally. From and after the Effective Date, no Member shall be required, or have the right, to make capital contributions to the Company except as set forth in this Section 4.01(b).
Contributions Generally. The limited liability company interest of each Member in the Company shall be represented by units issued to such Member (“Membership Units”). The Membership Units shall not be issued in certificated form, unless otherwise determined by the Board. As of the effective date hereof, each Member shall have contributed to the Company the amount of Capital Contribution set forth opposite such Member’s name on Schedule A and the number of Membership Units set forth opposite each Member’s name on Schedule A shall have been issued to such Member. The Company shall update Schedule A from time to time as necessary to reflect accurately all material information regarding the Membership Units. Any amendment or revisions to Schedule A will not be deemed to be an amendment to this Agreement. Any reference in this Agreement to Schedule A shall be deemed to be a reference to Schedule A as amended and in effect from time to time.
Contributions Generally. The Employer shall contribute the following amounts, at the following times, to the Contribution Account described in Article 3. Date Contribution January 1, 2011 $ 61,375 August 1, 2011 $ 60,000 August 1, 2012 $ 60,000 August 1, 2013 $ 60,000 August 1, 2014 $ 60,000
Contributions Generally. All contributions, whether in form of cash or assets, to the capital of the Company (each a “Contribution”) shall be recorded by the Company, and reflected in the Member’s Capital Account as set forth in Section 9.01. No Member shall be required to make any Contribution to the capital of the Company, and no Member shall be entitled to make any Contribution to the capital of the Company without the permission of the Board. The Company may borrow from its Members as well as from banks or other lending institutions to finance its working capital or the acquisition of assets upon such terms and conditions as shall be approved by the Board, and any borrowings from Members shall not be considered Contributions or reflected in their Capital Accounts. To the extent made, no existing Member shall be entitled to any additional interest in the Company with respect to any additional Contribution to the capital of the Company or for any services rendered on behalf of the Company except as specifically provided in this Agreement. No Member shall be entitled to any compensation with respect to any services rendered on behalf of the Company by a Member except as specifically provided in this Agreement or as approved by the Board. No Member shall have any liability for the repayment of the Contribution of any other Member, and each Member shall look only to the assets of the Company for return of such Member’s Contribution.
Contributions Generally. All contributions to the Account must be made in cash. No property or in-kind contributions or transfers will be accepted. There is currently no minimum periodic contribution amount established for the Account, but the Custodian reserves the right to establish a minimum periodic contribution amount in the future upon prior written notice. Annual contributions, including Catch-Up Contributions, for any tax year may be made at any time before the deadline for filing the Account Owner’s federal income tax return for that year (without extensions), or such later date as may be determined by the Department of the Treasury or the Internal Revenue Service. All annual contributions that are received by the Custodian during a calendar year will be credited to the Account for the calendar year in which they are received by the Custodian unless the Account Owner designates the contribution as a prior-year contribution and such designation is timely made in accordance with IRS Rules and the Custodian’s and HSA Administrator’s policies and procedures. The Custodian will also accept Rollover Contributions and trustee-to-trustee transfers from another HSA or from an Xxxxxx Medical Savings Account (“Xxxxxx MSA”). Rollover Contributions and trustee- to-trustee transfers from another HSA or from an Xxxxxx MSA are not subject to the Annual Contribution Limit referenced in Section 3.2 below. An Account Owner may also make a one-time trustee-to-trustee transfer from an individual retirement account to the Account (a “Qualified HSA Funding Distribution”) in accordance with Code Section 408 and IRS Rules. A Qualified HSA Funding Distribution is subject to the to the Annual Contribution Limit referenced in Section 3.2 below. Rollover Contributions, trustee- to-trustee transfers and Qualified HSA Funding Distributions must be made in accordance with IRS Rules and the Custodian’s and HSA Administrator’s policies and procedures. The Account Owner is solely responsible for (i) deciding whether to rollover or transfer funds to the Account and (ii) for properly identifying a Rollover Contribution as a Rollover Contribution. The Account Owner’s identification of a Rollover Contribution shall be received by the Custodian as the Account Owner’s confirmation that the Rollover Contribution satisfies the requirements of Code Section 223(f)(5). The Custodian is not responsible for any losses incurred by the Account or the Account Owner as a result of the timing of any rollover or transfer fro...
