Extraordinary Contributions Sample Clauses

Extraordinary Contributions. If the Partnership has at any time a liability arising out of a tort or a liability which is not customarily incurred by the Partnership in the ordinary course of the Partnership's business and which cannot be satisfied from Net Cash Flow or net proceeds from a Capital Transaction, such liability shall be solely the liability of the General Partner to the extent the assets of the Partnership are insufficient to pay such liability. In such cases, the General Partner shall make an Extraordinary Contribution to the Partnership, as soon as practicable, in an amount sufficient to satisfy such liability. Notwithstanding the provisions of Article VI, all losses of the Partnership which are funded by Extraordinary Contributions shall be allocated to the General Partners.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Extraordinary Contributions. Upon the approval of the Admission Committee the General Meeting of the Cluster shall be entitled in some cases – in order to secure the financial instrument necessary for the implementation of specific projects (for example organizing conferences, events, having recourse to professional counselling, arrange for professional, legal and other studies to be carried out, tendering, etc.) – to adopt extraordinary contribution payment obligation. The Members – excepting the Nonprofit members – shall pay the extraordinary contribution proportionally with the membership fee determined in their case. The Cluster Management Company or the person initiating the project shall submit for approval upon the proposal of the project the draft budget of the project to the Admission Committee and – in case of positive decision of the Admission Committee – to the General Meeting. Upon deciding on the implementation of the project the General Meeting shall decide on the extraordinary contributions of the members, the decision shall include the amount of the contribution, the modality and deadline of payment and the administration of the unused amounts. The Cluster Management shall send a proforma invoice for the payable fee – membership fee, admission fee or extraordinary contribution – to the member who shall pay the amount to the bank account kept for the purposes of the Cluster within 5 days from its receipt. The Cluster Management shall issue the final invoice within 5 days from the date when the amount was credited to the bank account. The two managing directors of the Cluster Management shall be entitled to the right of disposal of the bank accounts kept by the Cluster Management, being jointly entitled to sign in the name of the company. The Cluster Management Company shall be obliged to act in compliance with present policy while administrating the bank accounts. The xxxxx cash of the Cluster shall be administrated by the Cluster Management in its own name but always in the favour of the Cluster, considering its interests complying with the rules of the Accounting Act and other related acts. The person responsible with the administration of the xxxxx cash is the managing director of the Cluster Management appointed by the member GreenGo. The managing director is responsible for the operation in accordance with the legislation of the xxxxx cash, the establishment of the rules regarding the organisation of the accounts and the record keeping and the regular verification...
Sample 1
Extraordinary Contributions. If the Partnership has at any time a liability arising out of a tort or a liability which is not customarily incurred by the Partnership in the ordinary course of the Partnership's business and which cannot be satisfied from Net Cash Flow or net proceeds from a Capital Transaction, such liability shall be solely the liability of the General Partner to the extent the assets of the Partnership are, insufficient to pay such liability. In such cases, the General Partner shall make an Extraordinary Contribution to the Partnership, as soon as practicable, in an amount sufficient to satisfy such liability. Notwithstanding the provisions of Article VI, all losses of the Partnership which are funded by Extraordinary Contributions shall be allocated to the General Partners.
Sample 1

Related to Extraordinary Contributions

  • Voluntary Contributions Subrecipient must assure that voluntary contributions shall be allowed and may be solicited in accordance with the following requirements [OAA § 315(b)]: 1. The Subrecipient or any subcontractors for any Title III or Title VII-A services shall not use means tests. 2. Any Title III or Title VII-A client that does not contribute toward the cost of the services received shall not be denied services. 3. Methods used to solicit voluntary contributions for Title III and Title VII-A services shall be non-coercive. 4. Each service provider will: a) Provide each recipient with an opportunity to voluntarily contribute to the cost of the service. b) Clearly inform each recipient that there is no obligation to contribute and that the contribution is purely voluntary. c) Protect the privacy and confidentiality of each recipient with respect to the recipient’s contribution or lack of contribution; and d) Establish appropriate procedures to safeguard and account for all contributions. e) Use all collected contributions to expand the services for which the contributions were given and to supplement (not supplant) funds received under this program.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

  • Charitable Contributions Make any charitable or similar contributions, except in amounts not to exceed five thousand dollars ($5,000) individually, and twenty thousand dollars ($20,000) in the aggregate.

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

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

  • Equity Contributions Make, or permit any Significant Subsidiary to make, any equity contributions to any Unregulated Subsidiary; provided, however, that this Section 5.03(h) shall not restrict or otherwise apply to (i) any such equity contributions that are required by Applicable Law or court order or (ii) any intercompany advances made to any Unregulated Subsidiary (including, without limitation, pursuant to the Unregulated Money Pool Agreement) that are recharacterized by a court or other Governmental Authority as equity contributions.

  • Contributions Without creating any rights in favor of any third party, the Member may, from time to time, make contributions of cash or property to the capital of the Company, but shall have no obligation to do so.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement. 8.2 Contributions shall be recorded on a remittance form and remitted to the designated recipient of such contributions on or before the fifteenth (15) day of the month following the month for which contributions are to be made. In the event that any Employer is delinquent in his contributions to the above funds for more than thirty (30) days, the Employer and the Association shall be notified of such delinquency. If after five (5) days from such notice such delinquency has not been paid, the Employer shall pay to the applicable funds, as liquidated damages and not as a penalty, an amount equal to ten percent (10%) of the arrears for the month, or part thereof, in which the Employer is in default. Thereafter, interest shall accumulate at the rate of two percent (2%) per month (24% per year compounded monthly) on any unpaid arrears, including liquidated damages. 8.3 The amounts to be designated as wages and/or Employer contributions to the above funds may be varied from time to time by agreement between the Association and the Union. 8.4 The Board of Trustees of the respective Trust Funds shall have authority to promulgate such agreements, plans and/or rules as may be necessary or desirable for the efficient and successful operation and administration of the said Trust Funds, including provisions for audit security, surety and/or liquidated damages to the extent that such may be necessary for the protection of the beneficiaries of such Trust Funds. 8.5 Any and all agreements, plans or rules established by the Boards of Trustees of the respective Trust Funds shall be appended hereto and shall be deemed to be part of and expressly incorporated herein and the Employer and the Union shall be bound by the terms and provisions thereof. 8.6 All employer contributions due and payable to the above funds, except industry promotion funds, shall be deemed and are considered to be Trust Funds. It is expressly understood that training funds and industry promotion funds are not wages or benefits due to an employee and industry promotion funds are dues for services rendered by the Association. 8.7 The Business Representative of the Local Union may inspect, during regular business hours, the Company's record of time worked by employees and contributions to the plan. 8.8 The Employer shall be responsible for the payment of any government sales taxes applicable to any trust fund contributions payable by the Employer.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

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