Initial Capital Contributions of the Members. (a) Upon the execution of this Agreement, each Member shall contribute cash to the Company in the amount set forth as the Initial Capital Contribution of such Member on Schedule 1 attached hereto and hereby made a part hereof. Such cash shall be the Initial Capital Contribution of each such Member and each such Member agrees to make its Initial Capital Contribution.
(b) Upon making the Initial Capital Contribution each Member shall receive its Membership Interest and its Sharing Ratio, as set forth on Schedule 1.
Initial Capital Contributions of the Members. Each of the Members is hereby deemed to have made initial contributions to the Company (the “Initial Capital Contributions”) and to have Percentage Interests as set forth in Schedule 6.1. The limited liability company interests issued to each Equity Member pursuant to this Agreement have been duly authorized and are validly issued limited liability company interests.
Initial Capital Contributions of the Members. The initial capital contributions of the Members shall consist of cash, other property and/or services provided to the Company as more particularly described on Exhibit A attached hereto and incorporated herein by this reference. In exchange, the Company has issued to the Members the number of Units as specified in Exhibit A and the Members shall receive a credit to their respective Capital Accounts accordingly.
Initial Capital Contributions of the Members. Concurrently with the execution of this Agreement, Member A and Member B shall contribute to the LLC the cash, property and services set forth in Schedule 5.1 attached hereto and incorporated herein by this reference (each such contribution an "Initial Contribution"). The cash portion of the Initial Capital Contribution of each Member shall be made by immediately available wire transfer payable to the order of the LLC or its designated agent. The Members shall not be required to make any Capital Contributions to the LLC other than as set forth in this Section 5.1 or in Section 5.2.
Initial Capital Contributions of the Members. The Members of the Company are set forth in Exhibit A attached hereto. Until the consummation of the Merger, TZO shall own all the economic interests in the Company. Effective upon the consummation of the Merger, the Capital Account of each Member in the Company shall be its Capital Account in the Partnership on the effective date of the Merger of the Partnership into the Company, as the Capital Accounts of the Members were restated in the Partnership upon the admission of TZO to the Partnership. Effective upon the consummation of the Merger, the respective Percentage Interests of the Members will be as set forth in Exhibit A attached hereto. The Capital Accounts of the Members in the Partnership were restated based upon the Property having an agreed gross fair market value of $96,515,000, with the total (debt and equity) capitalization of the Partnership and the Company, including, however, additional costs and expenditures incurred in connection with the MTA transactions, all as further provided for in the Master Transaction Agreement. The restated Capital Accounts of the Original Partners on the Closing Date, totaling an aggregate amount of $615,000 after taking into account the making of Special Distribution, are herein referred to as the “Subordinate Capital Contributions” and the amount thereof of each Original Partner is set forth in Exhibit A. No other Capital Contributions have previously been made by the Members, either in their capacities as Members or as partners in the Partnership, which have either not been previously returned or are not part of the determination of the initial Capital Accounts of the Members in the Company.
Initial Capital Contributions of the Members. The initial Capital Contributions of the Members are set forth on Schedule 6.1 attached to this Agreement, made as follows:
(a) CHP has contributed Six Million Nine Hundred Seventy-Seven Thousand Two Hundred and Fifty-Seven and Two One Hundredths Dollars ($6,977,257.02) in cash to the Company; and
(b) Montecito has contributed Seven Hundred Seventy-One Thousand Five Hundred and Forty Nine and Fifteen One Hundredths Dollars ($771,549.15) in cash to the Company.
Initial Capital Contributions of the Members. The initial Capital Contributions of the Members are set forth on Schedule 6.1 attached to this Agreement, made as follows:
(a) CHP has contributed as of the Initial Closing Date Four Million Nine Hundred Forty-Nine Thousand Four Hundred Twenty-Three and 25/100 Dollars ($4,949,423.25) in cash to the Company, of which the Company has used (i) Four Million Four Hundred Four Hundred Forty-Eight Thousand Seven Hundred Fourteen and 71/100 Dollars ($4,432,707.52) to make a distribution to GCI (the “GCI Initial Excess Equity Amount,” (ii) a portion of, together with certain proceeds from the Financing, to repay the mortgage financing that encumbered the Facilities immediately prior to the Financing, and (iii) a portion of to pay for other closing costs;
(b) GCI has contributed as of the Initial Closing Date the GCI Contributed Assets to the Company as set forth in Schedule R-H of the Transfer Agreement for the Pool One Closing (as defined in the Transfer Agreement) located in Iowa for which GCI shall receive a Capital Account credit of One Million Six Hundred Forty-Nine Thousand Eight Hundred Seven and 75/100 Dollars ($1,649,807.75);
(c) CHP has contributed as of the Amendment Date Four Million Eight Hundred Fifty-Seven Thousand Nine Hundred Eighty-Five and 35/100 Dollars ($4,857,985.35) in cash to the Company, of which the Company has used (i) Three Million Nine Hundred Eight-Eight Thousand Seven Hundred Forty-Four and 01/100 Dollars ($3,988,744.01) to make a distribution to GCI (the “GCI Additional Excess Equity Amount”), and (ii) a portion of to pay for other closing costs; and
(d) GCI has contributed as of the Amendment Date the GCI Contributed Assets to the Company as set forth in Schedule R-H of the Transfer Agreement for the Pool Two Closing (as defined in the Transfer Agreement) for which GCI shall receive a Capital Account credit of One Million Six Hundred Nineteen Thousand Three Hundred Twenty-Eight and 55/100 Dollars ($1,619,328.55).
Initial Capital Contributions of the Members. Concurrently with the execution and delivery of this Agreement, each Member shall contribute, in cash, the amount set forth opposite such Member's name under the column entitled "Initial Cash Contribution" on Exhibit "A" attached hereto (the "Initial Contribution"), provided that Majestic shall be credited with amounts expended as third-party out-of-pocket pursuit costs for the Property upon the written approval of such costs by Tejon. Each Member's Capital Account shall be credited by the amount of such Member's Initial Contribution as and when such contribution is made.
Initial Capital Contributions of the Members. (a) FMSS Initial Capital Contribution. Concurrently with the execution of this Agreement, FMSS shall contribute an amount in Cash equal to Two-Hundred-Fifty Thousand Dollars ($250,000) to the Company by immediately available wire transfer payable to the order of the Company or its designated agent to be used for the commencement of operations of the Company (the “FMSS Initial Cash Contribution”); and
Initial Capital Contributions of the Members. Concurrently with the execution of this Agreement, Member A shall contribute [$ ] in cash to the and Member B shall contribute [$ ] in cash (each such contribution an "Initial Contribution"). The Initial Capital Contribution of each Member shall be made immediately ble wire transfer payable to the order of the LLC or its designated agent. Members shall not be required to make any Capital Contributions to the LLC other than as set forth in Section 5.01 or in Section 5.02.
