Mandatory Additional Contributions Clause Samples
Mandatory Additional Contributions. The Members shall make additional contributions to the capital of the Company (Additional Capital Contribution) and concurrently receive additional Shares as follows: Date Due Amount Additional Shares Red Co [date] $[amount] US [number] Blue Co [date] $[amount] US [number] If a Member fails to make an Additional Capital Contribution when required (Defaulting Member), at the election of the other Member, either
2.4.1 the Company shall be automatically dissolved, or
2.4.2 (i) the Defaulting Member shall be automatically removed as a Member of the Company, (ii) the Defaulting Member shall lose any right to vote as a Member, and (iii) the Shares of the Defaulting Member shall be purchased in accordance with Section 9.9 of this Operating Agreement.
Mandatory Additional Contributions. From time to time it may be ------------ ---------------------------------- determined by Partnership Action that additional contributions are required for the proper operation of the Partnership's business. In this event, the General Partners shall make such additional contributions to the Partnership in the proportion which the number of capital units held by each General Partner bears to the total number of capital units held by all General Partners at that time.
Mandatory Additional Contributions. Without prejudice to the Contributions made in accordance with Section 3.01 and Section 3.03, the Parties acknowledge and agree that additional funding will be necessary for the completion of the Project. The Parties hereby commit to contributing their pro rata portion of up to an amount equal to USD$50 million, at the time the Board of Directors and Shareholders Assembly of VAH approve, on a mandatory basis, such capital increases with the purpose of funding the Project and in accordance with the business and investment plan agreed by the Parties. Such mandatory contributions shall be denominated “Mandatory Additional Contributions”. The Parties shall not be obligated (but shall have the right in accordance with the terms of the Shareholders Agreement) to make any capital contributions in excess of the Mandatory Additional Contributions.
Mandatory Additional Contributions. Except as otherwise provided in separate agreements or as provided in Section 5.9 hereof, the Company has no right to require any Member to make additional contributions. This Section does not release any Member from any obligation or promise of future performance that the Company accepted as a contribution, including, without limitation, the Initial Members' obligation to make Capital Contributions as described in Section 5.9 hereof.