In-Kind Contributions For clarity, In-Kind contributions will only be recognized as eligible when the costs incurred by the Applicant are incidental to its ordinary course of business, directly attributable to the Project and easily auditable.
Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.
Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.
Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.
