Failure to Fund Additional Capital Contributions Sample Clauses

Failure to Fund Additional Capital Contributions. In the event a Member fails to make all of its Additional Capital Contribution (“Defaulting Member”) as required in Section 8.4.1 or 8.4.3 above on the due date, any Member who has funded all of its Additional Capital Contribution (a “Non-Defaulting Member”) may (but shall not be obligated to) contribute the unpaid portion of the Defaulting Member’s Additional Capital Contribution. If there is more than one Non-Defaulting Member desiring to make the Additional Capital Contribution to replace the Additional Capital Contribution not funded by the Defaulting Member, then such Non-Defaulting Members shall be entitled to contribute the Defaulting Member’s unfunded Additional Capital Contribution in such amounts as they may agree among each other or, in the absence of such agreement, in proportion to their respective Ownership Percentages. The rights provided by this Section 8.4.4 are the sole and exclusive remedies of the Company, the Members and the Managers in the event that any Member fails to fund its the Additional Capital Contribution required in Section 8.4.1 or 8.4.3 above.
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Failure to Fund Additional Capital Contributions. (a) If any Member fails to make an Additional Capital Contribution required of it under a Capital Call in the amount and within the time periods specified therein (that Member is hereinafter referred to as a “Non-Contributing Member”), the Managing Members shall provide notice of such failure to the other Members and all Members who are not Non-Contributing Members may fund all or part of the amount of the Additional Capital Contribution not funded by the Non-Contributing Member (that amount is hereinafter referred to as the “Failed Contribution”, and each such Member who funds any part of a Failed Contribution is hereinafter referred to as a “Contributing Member”). Each Contributing Member will have the right to fund a portion of the Failed Contribution pro rata in proportion to the relative Percentage Interests of all Contributing Members (but the Contributing Members may agree among themselves to some other manner to fund the Failed Contribution). Upon the funding by a Contributing Member of all or part of a Failed Contribution, the Contributing Member(s) may elect either of the following (and if there is more than one Contributing Member, each may separately make its own election):
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Related to Failure to Fund Additional Capital Contributions

  • 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 (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.

  • 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.

  • 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.

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

  • 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.

  • 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.

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

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