Default on Capital Contributions Sample Clauses

Default on Capital Contributions. If a Member fails to make any Capital Contributions when due, such Member shall be in default and the Company may exercise all legal rights available against such Member.
Sample 1
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Default on Capital Contributions. If a Partner fails to make any Capital Contribution when due, such Partner shall be in default and the Partnership may exercise all legal rights including, without limitation, the commencement of an action to collect from such defaulting Partner by legal process the entire amount of such Partner's unpaid Capital Contributions, including those not currently in default, together with all court costs and reasonable attorney fees.
Sample 1
Default on Capital Contributions. If a Partner fails to make any Capital Contributions when due, such Partner shall be in default and the Partnership may exercise all legal rights including, without limitation, the commencement of an action to collect from such defaulting Partner by legal process the entire amount of his unpaid Capital Contribution together with all court costs and reasonable attorneys' fees. In addition to any other rights it may have, the General Partner may return any funds contributed previously (but less than fully required) without interest and henceforth terminate that Partner’s limited partnership interest, without waiving the Partnership’s or the General Partner’s right to damages arising from the default.
Sample 1
Default on Capital Contributions 
Sample 1

Related to Default on Capital Contributions

  • Interest on Capital Contributions No Member shall be entitled to any interest on its capital contribution.

  • No Interest on Capital Contributions Members are not entitled to interest or other compensation for or on account of their capital contributions to the Company except to the extent, if any, expressly provided in this Agreement.

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

  • 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.

  • Member Capital Contributions (Check One)

  • 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.

  • 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 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.

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

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