Further capital Sample Clauses

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Further capital. Term The shareholder agreement should deal with: a. when the arrangements between the shareholders commence; b. when and how the arrangements between the shareholders will cease. Controller The document will need to state who has the control over the day to day operation of the business. This may not necessarily be all of the shareholders. In addition, it should outline the rights of the shareholders to vote on relevant/ significant matters to the business. The shareholders should agree on the following: a. How are decisions of the business made? b. Who will be the decision makers for the business and how will the decision makers be appointed? c. Will all shareholders have the right to appoint? d. Can a representative of a shareholder be removed? e. What happens when a representative of a shareholder is removed? f. How and when will meetings be held? g. What are the requirements in order to hold a meeting (i.e. quorum, notice periods etc)?
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Further capital. 4.1 The Council shall not be required to subscribe for any further Shares or to provide any additional funding for the Company. 4.2 If, in the opinion of the Board the Company requires further funding, the Board shall, having consulted the Council, determine how the Company should obtain such additional funding, whether by way of the allotment of further Shares, by obtaining additional debt finance, or such other means as the Board may determine, provided always that the Board shall obtain prior written consent from the Council in accordance with the Corporate Covenants.
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Further capital. 5 WARRANTY ....................................................................................................................
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Further capital. If any further capital shall at any time or times be necessary or expedient for efficiently carrying on the business it shall be contributed by the partners in such shares as may be agreed to in writing.
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Further capital. In the event that the Board resolves that the Company requires further working capital then the Shareholders may (if they so agree) provide the same but only in the respective proportions of their shareholdings in the Company by way of capital injection or interest-free loans (repayable on demand provided always that all repayments of such loans shall be made to the Shareholders pro rata according to the respective principal amounts outstanding to each Shareholder at the date of each repayment) or such other form of financing as the Shareholders shall agree.
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Further capital. (d) No Shareholder shall be required to subscribe for any further Shares or to provide any additional funding for the SPV (or guarantees or indemnities on behalf of the SPV) which, for the avoidance of doubt, shall include any additional funding by way of shareholder loans and/or required to increase the working capital requirements of the SPV. (e) The SPV shall not allot any Shares to any person (other than a Shareholder) unless that person has first executed a Deed of Adherence in the form set out in Schedule 4 (Deed of Adherence). (f) If, in the opinion of the SPV Board, requires further funding, the SPV Board shall determine how the SPV,) should obtain such additional funding, whether by way of the allotment of shares, by obtaining additional debt finance, or such other means as the SPV Board may determine, PROVIDED THAT the foregoing shall be subject to the SPV Board seeking and obtaining any required approval from the Shareholders for the further funding proposals if any to the extent required under clause 6.2 (Reserved Matters). (g) Subject to the approval of the Shareholders pursuant to clause 6.2 (Reserved Matters), if the Board determines to allot further Shares, such Shares shall be allotted in accordance with the provisions of sub-clauses (f) to (i) below. (h) Subject to the provisions of sub-clauses (g) and (h) and clause 4.3 (Offers to Allot), on any allotment of Shares the Shares shall be offered for allotment by the Company to Shareholders pro rata to the number of Shares then in issue. (i) If the Directors determine to allot Shares in the Company, the Directors shall, of the Shares to be offered, first offer the Shares to the Shareholders pro rata to each Shareholder's existing holdings of Shares (first offer). (j) To the extent that any Shares are not accepted under the first offer the Directors shall offer the remaining Shares to the Shareholders who have accepted that first offer pro rata to their holdings of Shares following the first offer (second offer). To the extent that any second offer is not accepted by any such Shareholder but is accepted by other Shareholders, the Directors shall make such subsequent offers with the necessary changes having been made to those persons who have accepted the second offer until all the Shares have been accepted or (failing acceptance) until there are no persons willing to take further Shares whereupon the Directors may offer the remaining Shares to any Suitable Third Party. (k) A Shareholder may a...
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Further capital 
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Related to Further 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.

  • Members Capital Contributions a) Single-Member Capital Contributions (Applies ONLY if Single-Member): The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes. b) Multi-Member (Applies ONLY if Multi-Member): The Members have contributed the following capital amounts to the Company as set forth below and are not obligated to make any additional capital contributions:

  • 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.

  • Investments, Acquisitions, Loans and Advances The Borrower shall not, nor shall it permit any Subsidiary to (i) directly or indirectly, make, retain or have outstanding any investments (whether through the purchase of stock or obligations or otherwise) in any Person, real property or improvements on real property, or any loans, advances, lines of credit, mortgage loans or other financings (including pursuant to sale/leaseback transactions) to any other Person, or (ii) acquire any real property, improvements on real property or all or any substantial part of the assets or business of any other Person or division thereof; provided, however, that the foregoing shall not apply to nor operate to prevent, with respect to the Borrower or any Subsidiary, any of the following: (a) investment in Cash Equivalents; (b) investments existing or contemplated on the date hereof and listed on Schedule 8.8 hereto; (c) investments in derivatives and h▇▇▇▇▇ made in the ordinary course of the such Person’s business in connection with managing risk for which the Borrower, any Guarantor or any Subsidiary has actual exposure (and not for speculative purposes) including, without limitation, Hedging Agreements; (d) investments in Permitted Acquisitions; (e) investments by the Borrower in one or more Guarantors or by a Guarantor in the Borrower or one or more other Guarantors; (f) investments in Mortgage Receivables not to exceed $5,000,000 in the aggregate; (g) investments in marketable securities available for sale; or (h) any other investments otherwise approved by the Required Lenders. In determining the amount of investments, acquisitions, loans, and advances permitted under this Section, investments and acquisitions shall always be taken at the book value (as defined in GAAP) thereof, and loans and advances shall be taken at the principal amount thereof then remaining unpaid.