Failure to Make Timely Contributions Sample Clauses

Failure to Make Timely Contributions. If any Partner fails to make timely payment of any portion of its Capital Contribution required to be made by it under Section 5.1, the Partnership shall, after five days notice to such Defaulting Partner, pursue one or more of the following rights or remedies: (a) Taking all such action (including without limitation, the filing of a lawsuit) as may be necessary or appropriate to obtain payment by the Defaulting Partner of that portion of its agreed contribution that is in default, together with interest thereon at the maximum non usurious rate permitted by applicable law from the date that such contribution was due, at the cost and expense of the Defaulting Partner; (b) Cancelling the obligation of the Defaulting Partner to make payment of the remaining balance of all of its agreed contributions, whereupon (i) the Partnership shall be deemed to have purchased in consideration thereof all of the interest of such Defaulting Partner in the Partnership, (ii) the Defaulting Partner shall have no further interest in the Partnership or its assets, and (iii) at the Partnership’s option (x) the interest of such Defaulting Partner in the Partnership may be offered and sold by the Partnership at any price agreeable to the Partnership to any person meeting the requirements of this Agreement or (y) the interest of such Defaulting Partner in the Partnership shall thereafter be deemed to be owned by the remaining Partners in the proportion of their respective Percentage Interests; or, (c) Exercising any other rights and remedies available at law or in equity.
Sample 1
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Related to Failure to Make Timely Contributions

  • 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.

  • Return of Contributions The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from Partnership assets.

  • FINANCIAL CONTRIBUTIONS (§5.d): Owner shall use reasonable efforts to seek contributions and grants from Capital Metro Transit Authority (CMTA) and Xxxxxx County.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Tax Returns and Payments; Pension Contributions Borrower and each of its Subsidiaries has timely filed all required tax returns and reports, and Borrower and each of its Subsidiaries, has timely paid all foreign, federal, state, and local taxes, assessments, deposits and contributions owed by Borrower and such Subsidiaries, in all jurisdictions in which Borrower or any such Subsidiary is subject to taxes, including the United States, unless such taxes are being contested in accordance with the following sentence. Borrower and each of its Subsidiaries, may defer payment of any contested taxes, provided that Borrower or such Subsidiary, (a) in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Collateral Agent in writing of the commencement of, and any material development in, the proceedings, and (c) posts bonds or takes any other steps required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien.” Neither Borrower nor any of its Subsidiaries is aware of any claims or adjustments proposed for any of Borrower’s or such Subsidiaries’, prior tax years which could result in additional taxes becoming due and payable by Borrower or its Subsidiaries. Borrower and each of its Subsidiaries have paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and neither Borrower nor any of its Subsidiaries have, withdrawn from participation in, and have not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower or its Subsidiaries, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other Governmental Authority.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • 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.

  • Limitations on Return of Capital Contributions Notwithstanding any of the provisions of this Article 5, no Partner shall have the right to receive and the General Partner shall not have the right to make, a distribution that includes a return of all or part of a Partner’s Capital Contributions, unless after giving effect to the return of a Capital Contribution, the sum of all Partnership liabilities, other than the liabilities to a Partner for the return of his Capital Contribution, does not exceed the fair market value of the Partnership’s assets.

  • When Can I Make Contributions You may make annual contributions to your Xxxx XXX any time up to and including the due date for filing your tax return for the year, not including extensions. You may continue to make regular contributions to your Xxxx XXX even after you attain RMD age. In addition, rollover contributions and transfers (to the extent permitted as discussed below) may be made at any time, regardless of your age.

  • Other Contributions In this Agreement, Other Contributions means the financial or in-kind contributions other than the Grant set out in the following table: Contributor Nature of Contribution Amount (GST exclusive) Timing Grantee < insert description of contribution, e.g., cash, access to equipment, secondment of personnel etc> $<insert amount> <project end date> <name of third party providing the Other Contribution> <insert description of contribution, e.g., cash, access to equipment, secondment of personnel etc> $<insert amount> <insert date or Milestone to which the Other Contribution relates> Total $<total other contributions>

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