Common use of Mandatory Additional Contributions by the General Partner Clause in Contracts

Mandatory Additional Contributions by the General Partner. The --------------------------------------------------------- General Partner shall make any capital contribution required in connection with the dissolution of the Partnership pursuant to Section 7.3(e). In addition, the General Partner shall make any capital contributions necessary for it to maintain, at all times during the term of the Partnership, a positive Capital Account balance at least equal to the lesser of (i) one percent of the aggregate positive Capital Account balances of the Partners or (ii) $500,000.

Appears in 2 contracts

Samples: Agreement (Hollywood Park Inc/New/), Partnership Agreement (Hollywood Park Fall Operating Co)

AutoNDA by SimpleDocs

Mandatory Additional Contributions by the General Partner. The --------------------------------------------------------- General Partner shall make any capital contribution required in connection with the dissolution of the Partnership pursuant to Section 7.3(e). In addition, the General Partner shall make any capital contributions necessary for it to maintain, at all times during the term of the Partnership, a positive Capital Account balance at least equal to the lesser of (i) one percent of the aggregate positive Capital Account balances of the Partners or (ii) $500,000.

Appears in 2 contracts

Samples: Partnership Agreement (St Louis Casino Corp), Partnership Agreement (Switzerland County Development Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!