Future Capital Contributions. If the Partnership requires additional funding to provide working capital or for any other purpose, no Partner shall have any obligation to advance such funds personally to the Partnership except as otherwise provided herein.
Future Capital Contributions. No Member will be required to make any loans to the Company or any Capital Contribution, other than the Initial Capital Contributions, without such Member’s prior written consent. No Member will be permitted to make any such additional Capital Contribution unless requested to do so by the Managing Member. Members do not have the right to participate, on a pro rata basis or otherwise, in any such additional Capital Contributions.
Future Capital Contributions. Shareholders' Loans, and/or Subordinated Debt.
(a) No additional capital stock may be issued by Company other than by the mutual written consent of the Shareholders. The Shareholders hereto shall meet no less frequently than annually following the date of this Agreement to determine the capital needs of the Company for the next succeeding year.
(b) The Shareholders may, but shall not be obligated to, mutually agree to make additional equity capital contributions and/or shareholders' loans to the Company in equal proportion to their respective shareholdings. Upon written notification by the Board of Directors to the Shareholders that the Company does not have sufficient capital to fund the activities of Company, the Shareholders shall promptly meet with management of Company to ascertain the amount of funding reasonably required by Company under the circumstances. The Shareholders shall thereafter enter into a mutually acceptable agreement with respect to such additional capital contributions, if any.
Future Capital Contributions. In the event the Company requires additional working capital and is unable to obtain financing on commercially reasonable terms, as determined by the Managing Member, the Managing Member may, after obtaining the consent of the Members holding a Super-Majority of the Percentage Interests of the Company if required pursuant to Section 3.4 hereof, from time to time request in the manner hereinafter provided in this Section 5.2 that the Members make capital contributions in excess of such Member’s Initial Capital Contributions (each a “Capital Contribution” and collectively, the “Capital Contributions”), in amounts equal to the product of such Member’s then current Interest Percentage, multiplied by the amount required. If it is so determined that a Capital Contribution is required, the Managing Member may issue a capital call to the Members in the form of a written notice requesting that each Member fund its Interest Percentage of such amount within twenty (20) business days following delivery of such capital call (the “Funding Period”) and each Member shall fund its share of such amount directly to the Company by an irrevocable and unconditional wire transfer of immediately available funds pursuant to the wire transfer instructions for the Company contained in such capital call. If the Managing Member issues a notice requesting Capital Contributions, the Managing Member, at the same time the notice is given, shall deposit its required portion of the requested amount into the Company’s operating account and provide evidence thereof to the other Members. When all Members have made such Capital Contributions, the Managing Member shall utilize such funds for the applicable expenses. The failure of a Member to make a Capital Contribution as described above shall give the other contributing Member(s) the right to make a Member Loan as provided in Section 5.4.
Future Capital Contributions. Upon receipt by Holdings of any Cash proceeds (any such proceeds net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses) from the issuance of any equity Securities of Holdings or any other contributions to the capital of Holdings, Holdings shall contribute such net Cash proceeds to Borrower as a contribution to capital (provided that if Holdings receives any capital stock of Borrower as a result of such contribution it shall be common stock) to be used by Borrower in accordance with subsection 2.4B(iii)(e).
Future Capital Contributions. (a) If the Company is, or anticipates that it will be, unable to meet its obligations as they become due, or to fund its anticipated capital requirements pursuant to an approved budget, the Board of Managers shall use its commercially reasonable efforts to obtain and will have authority to cause the Company to incur indebtedness in order to fund the obligations. If the Company is unable to obtain third party financing, the Company may negotiate with Members and with Affiliates of Members in an effort to fund the obligations or capital requirements through indebtedness to any of these Persons. Any indebtedness of the Company to a Member or an Affiliate of a Member will be subject to the provisions of this Agreement concerning loan transactions with related parties.
Future Capital Contributions. The Holder and the Company are currently discussing a broader business relationship which will consist of future capital contributions to the Company by the Holder or its affiliates. The Company agrees that it will first use any such future contributions to repay this Note and the January 30, 2017 Unsecured Promissory Note made by the Company for the benefit of the Holder, and such contributions will be made at the same valuation of the Company underlying the September 30, 2016 Unsecured Convertible Promissory Note made by the Company for the benefit of the Holder's affiliate.
Future Capital Contributions. (a) If the Company is, or anticipates that it will be, unable to meet its obligations as they become due, or to fund its anticipated capital requirements pursuant to an approved budget, the Board of Managers shall use its commercially reasonable efforts to obtain and will have authority to cause the Company to incur indebtedness in order to fund the obligations. If the Company is unable to obtain third party financing, the Company may negotiate with Members and with Affiliates of Members in an effort to fund the obligations or capital requirements through indebtedness to any of these Persons. Any indebtedness of the Company to a Member or an Affiliate of a Member will be subject to the provisions of Section 4.4 concerning loan transactions with related parties.
(b) If the Company’s current and anticipated obligations and/or capital requirements cannot be satisfied as provided in Section 4.2(a), the Board of Managers may give to all Members notice of a capital call pursuant to this Section in an aggregate amount reasonably determined by the Board of Managers to enable the Company to satisfy those obligations described in the preceding paragraph (the “Capital Call”), which notice must specify in reasonable detail the amount, purpose and date of any additional Capital Contribution, which date will be no earlier than fifteen (15) days following the notice.
(c) Following a Capital Call, each Member shall contribute cash to the Company when due in an amount equal to the additional Capital Contribution specified in the Capital Call multiplied by the Percentage Interest, except that no Member will have any personal liability for failing to fund its share of a Capital Call beyond such Member’s initial Capital Contribution, but a Member’s Percentage Interest may be reduced as provided below if the Member fails to make its share of the Capital Call.
(d) If any Member fails to make when due all or any portion of any additional Capital Contribution pursuant to this Section, the Board of Managers shall give prompt notice of this failure to the contributing Members, who, based on their relative Percentage Interests, will have the right to advance directly to the Company their pro rata shares of the additional Capital Contribution that was not made by the noncontributing Member (the “Excess Contribution”), which right will expire with respect to each contributing Member five (5) days after notice of the failure of the noncontributing Member to make its additional Capital ...
Future Capital Contributions. All future funding needs for the SG shall be satisfied in accordance with Section 13.3 and subject to the following:
(a) Except as set forth in this Agreement with respect to the Initial Contributions, all contributions from the parties shall be in the form of cash unless otherwise approved by the SG Board. Non-cash contributions shall be valued at the fair value of the property contributed as determined by the SG Board. The SG Board shall review and approve the SG business plan and corresponding budget (including fixed and working capital requirements) prior to the commencement of each of its fiscal years, and at such other times a the SG Board determines from time to time.
Future Capital Contributions. It is not the current intention to require future Capital Contributions from the Members.
