Initial Cash Contributions. Concurrently with the execution and delivery of this Agreement, the Members have contributed to the capital of the Company cash in that amount for each Member set forth opposite each such Member’s name on Exhibit A.
Initial Cash Contributions. Each Member shall be required to make an initial Cash Contribution to the Cooperative in the amount of [$X]. Except as otherwise expressly provided in this Agreement [or DESCRIBE IF/WHEN A MEMBER CAN GET REIMBURSED], no Member shall have the right to withdraw this capital from the Cooperative, to receive interest on such Initial Cash Contribution, or to receive a distribution or return of such Member’s Initial Cash Contribution.
Initial Cash Contributions. Simultaneously with the full and complete execution of this Agreement, the Members shall make the following initial cash contributions to the capital of the Company (the “Initial Cash Contributions”): MAA $48,333.33 33.33% 53.33% Xxxxxx Xxx $96,666.67 66.67% 46.67% Total $145,000.00 100.00% 100.00% The Initial Cash Contributions will be used to pay, among other expenses approved by the Executive Committee, and set forth in the initial Budget and Operating Plan attached hereto as Exhibit H, all out-of-pocket costs to form the Company including reasonable legal fees incurred by the Members in connection with negotiation of this Agreement. In addition, prior to or simultaneously with the making of its Initial Cash Contribution, MAA shall cause MAAC and its respective Affiliates to assign to the Company, if assignable, pursuant to an assignment in form and substance satisfactory to the Members, all of its and their respective right, title and interest in and to all agreements to acquire any Property, as well as all of its due diligence, reports, work product, analysis and other evaluations regarding any such Property; provided, however, such contributions shall have no value for purposes of MAA’s Capital Account; provided, further, such contributions shall not in any way imply or be deemed to imply that an acquisition of any Property has been approved by the Executive Committee.
Initial Cash Contributions. The original capital of the Partnership will consist of cash contributions to be made by the Partners in the respective amounts set forth opposite their signatures on the signature page of this Agreement. Each Partner agrees to make the capital contribution required under this Section 2.1, which will be due upon call by the General Partner. The initial Percentage Interest of each Partner is set forth opposite its signature on the signature page of this Agreement.
Initial Cash Contributions. 3.1.1 The Existing Partners acknowledge that Vintage has previously performed work for the benefit of the Partnership, and has paid, or will pay, for such work, and has incurred other costs (including, without limitation, legal fees) in the amount of One Hundred Five Thousand Dollars ($105,000). Effective as of the date of this Agreement, Vintage shall receive a credit to its Capital Account in the amount of $105,000 as full reimbursement to Vintage for such payments; provided, however, to the extent such costs have not yet been paid, Vintage agrees to pay such costs prior to delinquency from its own funds and not from Partnership funds. As of the date hereof, the Existing Partners and Vintage acknowledge and agree that, after the application of Section 2.15.2, the total credit in the Existing Partners’ Capital Accounts is Eleven Million Dollars ($11,000,000), to be allocated Two Million Dollars ($2,000,000) to C&D and Nine Million Dollars ($9,000,000) to RMLP, as may increased or decreased pursuant to the terms hereof. RMLP shall also be reimbursed by the Partnership, or the Partnership shall otherwise pay, from the Capital Contributions made by Vintage pursuant to Section 3.1.2 below for costs related to the Land and benefiting the Partnership incurred by RMLP or the Partnership from and after March 24, 2003 through the date of this Agreement (including, without limitation, legal and engineering fees, insurance costs and development costs), in the amount of One Hundred Nine Thousand Four Hundred Forty Seven Dollars ($109,447). Such amounts shall be reimbursed to RMLP by the Partnership promptly after the execution of this Agreement to the extent incurred by RMLP or already paid by the Partnership, or promptly paid by the Partnership to the extent incurred by the Partnership and not yet paid as of the date of this Agreement; provided, however, to the extent any such costs which are reimbursed to RMLP have not yet been paid by RMLP, RMLP agrees to pay such costs prior to delinquency from its own funds and not from Partnership funds. Other than the Eleven Million Dollars ($11,000,000) credited to the Existing Partners’ Capital Accounts, neither RMLP nor C&D will receive any credit for any costs incurred or contributions made prior to March 24, 2003. Notwithstanding the foregoing or anything to the contrary contained herein, if any Partner has incurred costs or expenses between March 24, 2003 and the date of this Agreement that have not been referenced above...
Initial Cash Contributions. The initial capital contributions described above in Section 2.1, must be paid to the Company, in cash, immediately after all parties have signed this Agreement.
Initial Cash Contributions. To obtain additional capital from the Members the Company may request (a "CAPITAL CALL", which term also refers to capital calls made by the Board pursuant to SECTION 5.2.1) in writing that within ten (10) business days following such written request, the Members shall make capital contributions (each an "INITIAL CASH CONTRIBUTION") to the Company in proportion to their Contribution Percentages (except for the first $2,483,033 contributed pursuant to this SECTION 5.1, which shall be contributed by EOP), of cash to the capital of the Company. If EOP Lender is obligated to fund amounts pursuant to the Wilsxx Xxxn documents and defaults on such obligations, Wilsxx'x xxxigation to contribute such amounts to the Company pursuant to this SECTION 5.1 shall not arise until EOP Lender has cured such default and funded such amounts. If
(i) Wilsxx xxx timely and properly requested (or is deemed to have automatically requested as described in the Wilsxx Xxxe) an Advance (as defined in the Wilsxx Xxxe) to meet a Capital Call, and (ii) EOP Lender is not in default of its obligations to fund such Advance, but EOP Lender is not obligated to fund such Advance, and (iii) no "Event of Default" has occurred under the Wilsxx Xxxe, Wilsxx'x xxx EOP's obligation to fund the Capital Call to which such Advance relates shall not arise until the earlier of (a) EOP Lender's funding of such Advance, or (b) an "Event of Default" has occurred under the Wilsxx Xxxe. Wilsxx xxxll satisfy its obligation to contribute $8,911,137.20 to the Company by entering into and performing its obligations under that certain Contribution Agreement relating to the First & Howaxx Xxxject dated as of December 21, 2000. The total maximum capital contributions that the Members may be required to make under this SECTION 5.1 shall not exceed the following: EOP: $36,124,199.60 Wilsxx: $03,776,000.00 Each Member's Initial Cash Contribution shall, when made, be credited to the contributing Member's Capital Account and Adjusted Capital. A Capital Call pursuant to this SECTION 5.1 may only be made by the Board or the Manager as follows:
Initial Cash Contributions. Concurrently with the execution and delivery of this Agreement, (i) each Member shall make an initial cash contribution to the capital of the Company in the amount set forth opposite such Member's name under the column labelled "Initial Cash Contribution" on Exhibit "A" attached hereto to enable the Company to fund the anticipated costs and expenses that will be incurred by the Company prior to the funding of the Construction Loan described in Section 3.04, (ii) Tejon shall be deemed to have contributed to the capital of the Company the actual third- party pre-development costs and expenses incurred by Tejon Industrial Corp. prior to the Effective Date described in the Pre-Development Budget (exclusive of any costs or expenses incurred in connection with the abandonment of the Re-Abandoned Well described in Section 3.01(c) below), (iii) DP shall be deemed to have contributed to the capital of the Company the actual third-party pre-development costs and expenses incurred by DP prior to the Effective Date described in the Pre-Development Budget, and (iv) DP shall make an initial cash contribution to the capital of the Company equal to fifty percent (50%) of the excess of (A) the actual third-party pre-development costs and expenses deemed contributed by Tejon to the Company described in clause (ii) above, minus (B) the actual third-party pre-development costs and expenses deemed contributed by DP to the Company described in clause (iii) above. Each Member's Capital Account and Unreturned Contribution Account shall be credited by the amount contributed or deemed contributed by such Member pursuant to this Section 3.01(a) on the date this Agreement is executed and delivered. The Company shall promptly distribute to Tejon the capital contribution made by DP pursuant to clause (iv) above, which distribution shall be debited to Tejon's Capital Account and Unreturned Contribution Account on the date such distribution is received by Xxxxx. Following such distribution, the balances standing in each Members' Capital Accounts and Unreturned Contribution Accounts will be equal to the balances standing in the other Member's Capital Account and Unreturned Contribution Account.
