Initial Member. The Initial Member shall contribute the sum of $100 in cash to the Company, but shall not receive any Units therefor. On the first business day following the admission of additional Members, the Initial Member’s $100 Capital Contribution will be returned, and the Initial Member shall cease to be a Member. The Members hereby consent to the Initial Member’s withdrawal of the Initial Member’s Capital Contribution and waive any right, claim or action they may have against the Initial Member by reason of the Initial Member having been a Member.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)
Initial Member. The Initial Member shall contribute the sum of $100 in cash to the Company, but shall not receive any Investor Units therefor. On the first business day following the admission of additional Members, the Initial Member’s $100 Capital Contribution will shall be returned, and the Initial Member he shall cease to be a Member. The Members hereby consent to the Initial Member’s withdrawal of the Initial Member’s his Capital Contribution and waive any right, claim or action they may have against the Initial Member him by reason of the Initial Member his having been a Member.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (T Reit Inc)
Initial Member. The Xxxxxxx X. Xxxxxxxx, as the Initial Member Member, shall contribute the sum of $100 in cash to the Company, but shall not receive any Investor Units therefor. On the first business day following the admission of additional Members, the Initial Member’s 's $100 Capital Contribution will shall be returned, and the Initial Member he shall cease to be a Member. The Members hereby consent to the Initial Member’s 's withdrawal of the Initial Member’s his Capital Contribution and waive any right, claim or action they may have against the Initial Member him by reason of the Initial Member his having been a Member.
Appears in 2 contracts
Samples: Operating Agreement (NNN 2002 Value Fund LLC), Operating Agreement (NNN 2002 Value Fund LLC)
Initial Member. The Xxxxxxx X. Xxxxxxxx, as the Initial Member Member, -------------- shall contribute the sum of $100 in cash to the Company, but shall not receive any Investor Units therefor. On the first business day following the admission of additional Members, the Initial Member’s 's $100 Capital Contribution will shall be returned, and the Initial Member he shall cease to be a Member. The Members hereby consent to the Initial Member’s 's withdrawal of the Initial Member’s his Capital Contribution and waive any right, claim or action they may have against the Initial Member him by reason of the Initial Member his having been a Member.
Appears in 1 contract
Samples: Operating Agreement (T Reit Inc)
Initial Member. The Initial Member shall contribute the sum of $100 in cash to the Company, but shall not receive any Investor Units therefor. On the first business day following the admission of additional Members, the Initial Member’s 's $100 Capital Contribution will shall be returned, and the Initial Member it shall cease to be a Member. The Members hereby consent to the Initial Member’s 's withdrawal of the Initial Member’s its Capital Contribution and waive any right, claim or action they may have against the Initial Member Manager by reason of the Initial Member its having been a Member.
Appears in 1 contract
