Initial Series EA Capital Contributions Sample Clauses

Initial Series EA Capital Contributions. (a) On the Series EA Closing Date, each of the Series EA Partners made its respective Capital Contribution (each, an “Initial Series EA Capital Contribution”) to the Series EA in immediately available U.S. dollars in the amounts set forth opposite its name on Exhibit A to the Prior Agreement in return for the Series EA Percentage Interest and type of Series EA Partnership Interest set forth opposite its name on Exhibit A to the Prior Agreement, and each such Series EA Partner was admitted as a Partner of the Series EA in the capacity set forth opposite its name on Exhibit A to the Prior Agreement. (b) On the Series EA Closing Date, the Managing General Partner of Series EA applied the proceeds of the Initial Series EA Capital Contributions to repay the Intercompany Preliminary EA Construction Cost Payable. (c) On June 28, 2013, EECI and Enbridge Partners entered into that certain Option Interests Purchase Agreement (the “Option Purchase Agreement”), whereby Enbridge Partners sold to EECI a portion of the Series EA Limited Partner Interests owned by Enbridge Partners representing, in the aggregate, 15% of the total outstanding Series EA Limited Partner Interests in accordance with Section 4.10 of the Prior Agreement. The Percentage Interests of each Series EA General Partner and Series EA Limited Partner as of the date of this Agreement are as set forth on Exhibit A.
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Initial Series EA Capital Contributions. (a) On the Series EA Closing Date, each of the Series EA Partners shall make its respective Capital Contribution (each, an “Initial Series EA Capital Contribution”) to the Series EA in immediately available U.S. dollars in the amounts set forth opposite its name on Exhibit A in return for the Series EA Percentage Interest and type of Series EA Partnership Interest set forth opposite its name on Exhibit A, and, upon its execution of this Agreement and the making of its Initial Series EA Capital Contribution, each such Series EA Partner shall be admitted as a Partner of the Series EA in the capacity set forth opposite its name on Exhibit A. (b) On the Series EA Closing Date, the Managing General Partner of Series EA shall apply the proceeds of the Initial Series EA Capital Contributions to repay the Intercompany Preliminary EA Construction Cost Payable.
Sample 1
Initial Series EA Capital Contributions. (a) On the Series EA Closing Date, each of the Series EA Partners made its respective Capital Contribution (each, an “Initial Series EA Capital Contribution”) to the Series EA in immediately available U.S. dollars in the amounts set forth opposite its name on Exhibit A in return for the Series EA Percentage Interest and type of Series EA Partnership Interest set forth opposite its name on Exhibit A, and each such Series EA Partner was admitted as a Partner of the Series EA in the capacity set forth opposite its name on Exhibit A. (b) On the Series EA Closing Date, the Managing General Partner of Series EA applied the proceeds of the Initial Series EA Capital Contributions to repay the Intercompany Preliminary EA Construction Cost Payable.
Sample 1

Related to Initial Series EA Capital Contributions

  • Member Capital Contributions (Check One)

  • Members Capital Contributions a) Single-Member Capital Contributions (Applies ONLY if Single-Member): The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes. b) Multi-Member (Applies ONLY if Multi-Member): The Members have contributed the following capital amounts to the Company as set forth below and are not obligated to make any additional capital contributions:

  • Additional Funds and Capital Contributions 30 SECTION 4.4 NO INTEREST; NO RETURN................................................................... 31 SECTION 4.5 NOTE DEFICIENCY CAPITAL CONTRIBUTION..................................................... 31

  • Additional Capital Contributions No Member shall be required to make additional capital contributions. A Member may make additional capital contributions to the Company.

  • Initial Capital Contributions The Partners have made, on or prior to the date hereof, Capital Contributions and have acquired the number of Class A Units as specified in the books and records of the Partnership.

  • Capital Contributions Distributions 17 TABLE OF CONTENTS (continued)

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Initial Capital Contribution The initial Capital Contribution of the Original Member as of the date of this Agreement will be $ .

  • Capital Contributions and Capital Accounts (a) The capital contributions of each party shall be all amounts paid by it pursuant to the Agreement. With respect to each oil and gas property and the related assets subject to the Agreement, each party shall be treated as having contributed to the tax partnership an amount of cash equal to such party's share of any Lease acquisition or other property costs and the tax partnership shall be treated as having purchased such property from the party to whom such amounts are paid. (b) An individual capital account shall be maintained for each party in accordance with the following: (i) The capital account of each party shall, except as otherwise provided herein, be (A) credited by the amount of cash and fair market value of any property contributed to the tax partnership (net of any liabilities assumed by the parties hereto or to which such property is subject at the time of contribution) as provided in subparagraph (a) of this paragraph 4, and (B) credited with the amount of any item of taxable income or gain and the amount of any item of income or gain exempt from tax allocated to such party. (ii) The capital account of each party shall be debited by (A) the amount of any item of tax deduction or loss allocated to such party, (B) such party's allocable share of expenditures not deductible in computing taxable income and not properly chargeable as capital expenditures, including any non-deductible book amortizations of capitalized costs, and (C) the amount of cash or the fair market value of any property (net of any liabilities assumed by such party or to which such property is subject at the time of distribution) distributed to such party (after making the adjustment provided in subparagraph (b)(iii) in this paragraph 4). (iii) Immediately prior to any distribution of property that is not pursuant to a liquidation of the tax partnership, the parties' capital accounts shall be adjusted by assuming that the distributed assets were sold for cash at their respective fair market values as of the date of distribution and crediting or debiting each party's capital account with its respective share of the hypothetical gains or losses resulting from such assumed sales determined in the same manner as gains or losses provided for under paragraphs 4(b)(iv) and 6 for actual sales of such properties. (iv) The allocation of basis prescribed by Section 613A(c)(7)(D) of the Code and provided for in paragraph 6 hereinbelow and each party's depletion deductions shall not reduce such party's capital account, but such party's capital account shall be decreased by an amount equal to the product of (A) the depletion deductions that would otherwise be allocable to the tax partnership in the absence of Section 613A(c)(7)(D) of the Code (computed without regard to any limitations which theoretically could apply to any party) and (B) such party's percentage share of the adjusted basis of the property with respect to which such depletion is claimed (herein called "Simulated Depletion"). The tax partnership's basis in any oil or gas property, as adjusted from time to time for Simulated Depletion, is herein called "Simulated Basis." No party's capital account shall be decreased, however, by Simulated Depletion deductions attributable to any depletable property to the extent such deductions exceed such party's remaining Simulated Basis in such property. Upon the sale or other disposition of an interest in a depletable property, each party's capital account shall be credited with the gain ("Simulated Gain") or debited with the loss ("Simulated Loss") determined by subtracting from its allocable share of the amount realized on such sale or disposition its Simulated Basis, as adjusted by Simulated Depletion. (v) Any adjustments of basis of property provided for under Sections 734 and 743 of the Code and comparable provisions of state law (resulting from an election under Section 754 of the Code or comparable provisions of state law) shall not affect the capital accounts of the parties, and the parties' capital accounts shall be debited or credited as if no such election had been made unless otherwise required by applicable Treasury Regulations. (vi) Capital accounts shall be adjusted, in a manner consistent with subparagraph (b) of this paragraph 4, to reflect any adjustments in items of income, gain, loss or deduction that result from amended returns filed by the tax partnership or pursuant to an agreement with the Internal Revenue Service or a final court decision. (vii) In the case of property contributed to the tax partnership by a party, the parties' capital accounts shall be debited or credited for items of depreciation, Simulated Depletion, amortization and gain or loss with respect to such property computed in the same manner as such items would be computed if the adjusted tax basis of such property were equal to its fair market value on the date of its contribution to the tax partnership, in lieu of the capital account adjustments provided above for such items, all in accordance with Section 704(c) of the Code and Treasury Regulation 1.704-1(b)(2)(iv)(g).

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