Failure to Advance an Additional Capital Contribution Sample Clauses

Failure to Advance an Additional Capital Contribution. (a) Should a Partner not have contributed by the Contribution Date an Additional capital Contribution called for as provided in section 3.1, the partnership Interest of each Partner, effective as of the date the contribution was required to be paid, shall be the fraction (expressed as a percentage) determined by dividing Capital Contributions made to the Partnership by such Partner (including any Capital Contributions made by such partner in response to the call or upon conversion of an Optional Advance) plus the maximum equity funding commitments of all Partners set forth in any Equity Funding Agreement by the Capital Contributions made to the Partnership by all Partners (including capital Contributions made by all Partners in response to the call or upon conversion of Optional Advances) plus the aggregate amount of the maximum equity funding commitments of all Partners set forth in any Equity Funding Agreement; provided, that such Percentage Interest shall in no event be changed if the effect of such change is to cause the RVII Facility to lose its status as a “Qualifying Facility” or the RVI Facility to lose its status as a “Qualifying Facility” (if the Partnership is not then an Exempt Wholesale Generator with respect to its ownership and operation of such Facility). In which case, in lieu of changing such Percentage Interest, the Additional Capital Contribution made by the contributing Partner shall be treated as a Partner Loan made by such Partner. A change in Partnership Interest shall not affect, or be taken into account in determining, the Partners’ Capital Accounts or other rights to the capital of the Partnership existing as of the date of such change.
Sample 1
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Related to Failure to Advance an Additional Capital Contribution

  • 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.

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

  • Initial Capital Contribution On March 7, 2007, the Member made a capital contribution of One Hundred Dollars ($100.00) to the Company, and, as consideration therefor, the Member received a percentage interest of One Hundred Percent (100%) in the Company.

  • Subsequent Capital Contributions Without creating any rights in favor of any third party, each Member shall contribute to the Company, in cash, on or before the date specified as hereinafter described, that Member's Sharing Ratio of all monies that in the unanimous judgment of the Management Committee are necessary to enable the Company to acquire the Project from the Seller and to cause the assets of the Company to be properly operated and maintained and to discharge its costs, expenses, obligations, and liabilities, including without limitation its Sharing Ratio of the purchase price set forth in the Asset Sale Agreement, and its Sharing Ratio of Working Capital Requirements in order to bring current Company bank accounts to an amount equal to the Working Capital Requirements, as more particularly described in Section 5.01 below. The Management Committee shall notify each other Member of the need for Capital Contributions pursuant to this Section 4.02 when appropriate, which notice must include a statement in reasonable detail of the proposed uses of the Capital Contributions and a date (which date may be no earlier than the fifth Business Day following each Member's receipt of its notice) before which the Capital Contributions must be made. Notices for Capital Contributions must be made to all Members in accordance with their Sharing Ratios.

  • Additional Funds and Capital Contributions .. 22 Section 4.4 Stock Option Plan................................... 23 Section 4.5 No Interest; No Return.............................. 24 Section 4.6 Conversion or Redemption of Preferred Shares........ 24

  • 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.

  • Initial Capital Contributions (a) The Partners have made, on or prior to the date hereof, Capital Contributions and, in exchange, the Partnership has issued to the Partners the number of Class A Units as specified in the books and records of the Partnership.

  • Additional Capital Contributions and Issuances of Additional Partnership Interests Except as provided in this Section 4.2 or in Section 4.3, the Partners shall have no right or obligation to make any additional Capital Contributions or loans to the Partnership. The General Partner may contribute additional capital to the Partnership, from time to time, and receive additional Partnership Interests in respect thereof, in the manner contemplated in this Section 4.2.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

  • Capital Contributions; Percentage Interest The Members shall make contributions to the Company in an amount approved by the Members. No Member shall be required or permitted to make any additional contributions without the consent of all of the Members. The percentage interest of each Member in the Company shall be as set forth in the books and records of the Company, as amended from time to time by Managing Member consent.

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