Deficiency Drawdowns Sample Clauses

Deficiency Drawdowns. 6.1.2.1 General. ..
Sample 1
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Deficiency Drawdowns. Notwithstanding the foregoing, if any Member has failed to make a capital contribution when due, the Manager may call for a deficiency drawdown of additional capital contributions from the Members to replace such unpaid contribution upon five days’ prior written notice, to be apportioned among such Members in proportion to their respective Subscriptions. Such deficiency drawdowns shall be made in cash. In no event shall the Manager call for any such deficiency drawdowns from a Member which in the aggregate exceed such Member’s Subscription by an amount in excess of 50% of such Subscription, without the written consent of such Member. The Subscription of each Member required to make an additional capital contribution pursuant to this 6.1.3 shall be increased by the amount of such additional capital contribution after any adjustment pursuant to 6.3.4(a). For purposes of 6.3, the amount of a Member’s contribution that is not paid when due shall be deemed to include such Member’s ratable share, on a grossed-up basis, of any deficiency drawdown with respect to such Member’s unpaid contribution.
Sample 1

Related to Deficiency Drawdowns

  • Loan Amount 4. ACCOUNT NAME(S) ............................................................................................................................................................................. BANK NAME / BRANCH ..................................................................................................................................................................

  • Funding Availability This Contract is at all times subject to state appropriations. The Department makes no express or implied representation or guarantee of continued or future funding under this Contract. The Department has, as of the date of the execution of this Contract, obtained all requisite approvals and authority to enter into and perform its obligations under this Contract, including, without limitation, the obligation to make the initial payment or payments required to be made under this Contract on the date or dates upon which such initial payment or payments may otherwise be disbursed during the current contract period, (i.e., Sept ember 1, 2015, through August 31, 2017). The Grantee acknowledges the Department’s authority to make such payments is contingent upon the Texas Legislature's appropriation to the Department of sufficient funds and the availability of funds to the Department for such purpose. If the State of Texas or the federal government terminates its appropriation through the Department or fails to pay the full amount of the allocation for the operation of any grant or reimbursement program hereunder , or the funds are otherwise unavailable, the Department may immediately and without penalty reduce payments or terminate this Contract, in whole or in part. Upon termination of the Contract or reduction of payments, the Grantee shall return to the Department any unexpended funds already disbursed to the Grantee. Neither the Department nor the State of Texas shall incur liability for damages or any loss that may be caused or associated with such termination or reduction of payments. The Department shall not be required to give prior notice for termination or reduction of payments.

  • Deficiency Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Collateral Agent or any Secured Party to collect such deficiency.

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