Financing and Additional Capital Sample Clauses

Financing and Additional Capital. 3.5.1 The Managers shall in good faith endeavor to secure financing for the LLC in such amounts and under such terms and conditions as the Managers deem in the best interest of the LLC. 3.5.2 Each Member may be required to contribute additional capital to the LLC in accordance with this Section 3.5.2 ("Additional Contributions"). In the event that a majority of the authorized number of Managers determines that additional capital is required or advisable for the operation of the LLC, the Managers may give written notice (the "Call Notice") to each Member stating the aggregate amount of the Additional Contribution and each Member's share of the Additional Contribution based on its respective Membership Interest; provided that Additional Contributions in excess of $l,OOO,OOO in the aggregate during the term of this Agreement shall require the consent of all of the authorized number of Managers. Each Member shall within fifteen (15) days from the date of delivery of the Call Notice (the "Call Period") contribute to the LLC, in immediately available funds to an account designated in the Call Notice, its ratable share of the Additional Contribution. 3.5.3 If a Member fails to contribute an amount equal to its ratable share of the Additional Contribution within the Call Period (the "Failing Member"), and if the other Member (the "Non-Failing Member") has made its entire required contribution, then the Non-Failing Member may, but need not, (a) withdraw from the LLC its most recent ratable contribution made pursuant to this Section 3.5, in which case the LLC shall promptly repay the amount of such withdrawn contribution to the Non-Failing Member, and/or (b) make a loan to the LLC (a "Member Loan") in an amount equal to (i) some or all of the contribution which the Failing Member failed to make pursuant to this Section 3.5 and/or (ii) the contribution made by the Non-Failing Member, in which the case the contribution theretofore made by the Non-Failing Member shall be deemed instead to be part of the funds advanced in connection with making such Member Loan. If made, a Member Loan shall be due on demand, and shall bear interest at the rate of the lower of five (5) percentage points above the Prime Rate compounded annually or the highest lawful rate, with interest payable on the first day of each and every month following the making of the Member Loan. 3.5.4 Until such time as the Member Loan is repaid in full, distributions to which the Failing Member would otherwis...
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Financing and Additional Capital. 3.5.1 The Managers shall in good faith endeavor to secure financing for the LLC in such amounts and under such terms and conditions as the Managers deem in the best interest of the LLC. 3.5.2 Each Member may be required to contribute additional capital to the LLC in accordance with this Section 3.5.2 ("ADDITIONAL CONTRIBUTIONS"). In the event that a majority of the authorized number of Managers determines that additional capital is required or advisable for the operation of the LLC, the Managers may give written notice (the "CALL NOTICE") to each Member stating the aggregate amount of the Additional Contribution and each Member's share of the Additional Contribution based on its respective Membership Interest; provided that Additional Contributions in excess of $1,000,000 in the aggregate during the term of this Agreement shall require the consent of all of the authorized number of Managers. Each Member shall within fifteen (15) days from the date of delivery of the Call Notice (the "CALL PERIOD") contribute to the LLC, in immediately available funds to an account designated in the Call Notice, its ratable share of the Additional Contribution. 3.5.3 If a Member fails to contribute an amount equal to its ratable share of the Additional Contribution within the Call Period (the "FAILING MEMBER"), and if the other Member
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Related to Financing and Additional Capital

  • Additional Capital The Member shall not be obligated to make any Capital Contributions other than the initial Capital Contributions specified in Section 3.2.

  • Initial Capital Contribution and Ownership The Trust Beneficial Owner has paid or has caused to be paid to, or to an account at the direction of, the Trustee, on the date hereof, the sum of $15 (or, in the case of Notes issued with original issue discount, such amount multiplied by the issue price of the Notes). The Trustee hereby acknowledges receipt in trust from the Trust Beneficial Owner, as of the date hereof, of the foregoing contribution, which shall be used along with the proceeds from the sale of the series of Notes to purchase the Funding Agreement. Upon the creation of the Trust and the registration of the Trust Beneficial Interest in the Securities Register (as defined in the Trust Agreement) by the Registrar in the name of the Trust Beneficial Owner, the Trust Beneficial Owner shall be the sole beneficial owner of the Trust.

  • Initial Capital The initial capital of the Company shall be the sum of cash contributed to the Company by the Member (the “Capital Contribution”) in the amount set out opposite the name of the Member on Schedule A hereto, as amended from time to time and incorporated herein by this reference.

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

  • Initial Contribution of Trust Property; Organizational Expenses The Property Trustee acknowledges receipt in trust from the Depositor in connection with the Original Trust Agreement of the sum of $10, which constituted the initial Trust Property. The Depositor shall pay organizational expenses of the Trust as they arise or shall, upon request of any Trustee, promptly reimburse such Trustee for any such expenses paid by such Trustee. The Depositor shall make no claim upon the Trust Property for the payment of such expenses.

  • Additional L/C Issuers Any Lender hereunder may become an L/C Issuer upon receipt by the Administrative Agent of a fully executed Notice of Additional L/C Issuer which shall be signed by the Borrower, the Administrative Agent and each L/C Issuer. Such new L/C Issuer shall provide its L/C Commitment in such Notice of Additional L/C Issuer and upon the receipt by the Administrative Agent of the fully executed Notice of Additional L/C Issuer, the defined term L/C Commitment shall be deemed amended to incorporate the L/C Commitment of such new L/C Issuer.

  • Trustee and Agents May Hold Securities; Collections, etc The Trustee or any agent of the Issuer or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and may otherwise deal with the Issuer and receive, collect, hold and retain collections from the Issuer with the same rights it would have if it were not the Trustee or such agent.

  • CONDITIONS OF LENDING AND ISSUANCE OF LETTERS OF CREDIT The obligation of each Lender to make Loans and of the Issuing Lender to issue Letters of Credit hereunder is subject to the performance by each of the Loan Parties of its Obligations to be performed hereunder at or prior to the making of any such Loans or issuance of such Letters of Credit and to the satisfaction of the following further conditions:

  • 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.

  • Initial Capital Contribution of Trust Estate As of the date of the Original Trust Agreement, the Seller sold, assigned, transferred, conveyed and set over to the Owner Trustee the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Seller, as of such date, of the foregoing contribution, which shall constitute the initial Trust Estate and shall be deposited in the Collection Account.

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