Mandatory Capital Calls Sample Clauses

Mandatory Capital Calls. (a) Prior to the consummation of an IPO, the ----------------------- chief executive officer of the Company (or if none, the most senior operating officer in place) or a majority of the Board shall have the right to call (each, a "Mandatory Capital Call") the Common Stockholders to contribute and the Common Stockholders shall be obligated to contribute to the capital of the Company for the purpose of providing for the operating needs of the Company pursuant to the approved Business Plan and Budget and for the purpose of acquiring stations; provided, that (i) Mandatory Capital Calls shall be called from all Common Stockholders simultaneously, (ii) each Common Stockholder shall contribute an amount equal to 86.3711% of the Mandatory Capital Call multiplied by its Proportionate Share, (iii) no Common Stockholder shall be required to contribute pursuant to a Mandatory Capital Call in excess of the Aggregate Maximum Contribution Amount (as defined below), (iv) notice of a Mandatory Capital Call must be delivered to the Common Stockholders at least 60 days prior to the date of contribution and (v) a Special Mandatory Capital Call (as defined below) shall not be deemed to be a Mandatory Capital Call. To the extent Telemundo Sub is required to make any Mandatory Capital Calls under the Network Group Operating Agreement, the Company shall fund such Mandatory Capital Calls with the first dollars received from any Common Stockholders pursuant to this Section 4.1(a) until such requirements are fulfilled. (b) Prior to the consummation of an IPO and upon the unanimous approval of the Common Stockholders, the chief executive officer of the Company (or if none, the most senior operating officer in place) or a majority of the Board shall call (each, a "Special Mandatory Capital Call") the Common Stockholders to contribute and the Common Stockholders shall be obligated to contribute to the capital of the Company the applicable amount so approved by the Common Stockholders; provided, that (i) except as otherwise agreed by the Common Stockholders, Special Mandatory Capital Calls shall be called from all Common Stockholders simultaneously, (ii) each Common Stockholder shall contribute the amount so approved with respect to such Common Stockholder, (iii) notice of a Special Mandatory Capital Call must be delivered to the Common Stockholders at least 60 days prior to the date of contribution, (iv) Special Mandatory Capital Calls are not subject to the Total Maximum Contribution ...
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Mandatory Capital Calls. No Member shall be required or permitted to make any Capital Contribution to the Company other than as set forth in this Section 3.4.
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Mandatory Capital Calls. (a) No later than six (6) months prior to the start of each Budget Year (i.e. December 1), the Members shall make Additional Advances (pro-rata in accordance with their respective Percentage Interests) equal to the budgeted shortfall for the following Budget Year, or if no budget has been approved for such following year, the Members shall on December 1 prior to the next Budget Year make Additional Advances (pro-rata in accordance with their respective Percentage Interests) equal to the budgeted shortfall for the then current Budget Year, adjusted as set forth in Section 5.1(b) hereof. (b) The Additional Advances set forth in the second sentence of Section 3.5 shall be required to be made by the Members (pro-rata in accordance with their Percentage Interests) within ten (10) days of notice from the Member(s) requesting such Additional Advances.
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Mandatory Capital Calls. Notwithstanding Section 8 above, in the event Mercy Maricopa requires additional capital or other funds to comply with a legal or regulatory requirement of any governmental authority or pursuant to the RBHA Contracts, then each Member must make the required capital call or special assessment on a pro rata basis based on the current Relative Interests as reflected on Exhibit “A” to this Agreement (a “Mandatory
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Mandatory Capital Calls. Buy and Hold Strategy or in the Alternative Blind Pool Strategy.
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Mandatory Capital Calls. A willing buyer may not be so willing to purchase an interest in an entity which could subject that buyer to mandatory capital calls. The authority to make capital calls might reside with one or more equityholders who do not have a significant ownership interest in the entity and thus would not be seriously affected by the capital calls. For example, a 1% general partner or the holders of voting interests representing 1% equity in the entity might have the authority to make capital calls. Also, capital calls might be made to one class of equityholders and not to another class of equityholders. Consider a provision in the entity agreement which provides that a person who does not fulfill a mandatory capital call will be expelled.
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Related to Mandatory Capital Calls

  • Capital Calls (i) After the Effective Date, the CORR Managers, may, in their sole discretion, determine that additional Capital Contributions are necessary for the conduct of the Company’s business (any such additional Capital Contributions called from the Capital Members by the Board, being hereinafter referred to as an “Additional Call Amount”). In connection with determining that an Additional Call Amount is necessary, the CORR Managers shall (A) issue Class B-1 Units (the “Additional Call Units”) to the Capital Members in the event such Capital Members actually fund Capital Contributions in respect of such Additional Call Amount (the “Contributing Members”) and (B) determine the Fair Market Value of each Class B-1 Unit of such Additional Call Units (the “Additional Call Unit FMV”). Xxxxx shall have the right to acquire such Additional Call Units in an amount equal to (i) the number of Additional Call Units offered multiplied by (ii) a fraction (A) the numerator of which is the number of Class C-1 Units held by Xxxxx and (B) the denominator of which is the number of Class C-1 Units held by all Members (for each Capital Member, the “Class C-1 Ratio”). Should Xxxxx desire to exercise such right, Xxxxx shall give notice thereof to the Company within thirty (30) days following receipt of a notice from the Company of its intent to issue Additional Call Units (a “Preemptive Right Response”). Absent receipt of a Preemptive Right Response from Xxxxx within such 30-day period, the Company shall be entitled to assume that such Member has elected not to exercise its rights under this Section 3.3. (ii) Upon the funding of any Capital Contribution by a Contributing Member, such Contributing Member shall be issued a number of Additional Call Units equal to the amount of the Capital Contribution made by such Member divided by a price per Additional Call Unit equal to the Additional Call Unit FMV. Exhibit A and the books and records of the Company shall be thereafter amended accordingly to reflect the funding of any Capital Contributions by a Contributing Member and the issuance of any Units in connection therewith, including any upward or downward adjustments to the Sharing Ratios of the Members in the event a Member does not elect to make a Capital Contribution and a Contributing Member increases its Capital Contribution amount in accordance with Section 3.3(b)(i).

  • Deficit Capital Accounts No Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in the Member’s Capital Account.

  • 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.

  • Mandatory Repayment The aggregate principal amount of the Loans outstanding on the Maturity Date, together with accrued but unpaid interest thereon, shall be due and payable in full on the Maturity Date.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Net Capital You represent that you, and we represent that we, are in compliance with the capital requirements of Rule 15c-3-1 promulgated by the Commission under the Securities and Exchange Act of 1934, and we may, in accordance with and pursuant to such Rule 15c-3-1, agree to purchase the amount of Units to be purchased by you and us, respectively, under the Agreement.

  • Mandatory Repayments (a) On any day on which the sum of (I) the aggregate outstanding principal amount of all Revolving Loans (after giving effect to all other repayments thereof on such date), (II) the aggregate outstanding principal amount of all Swingline Loans (after giving effect to all other repayments thereof on such date) and (III) the aggregate amount of all Letter of Credit Outstandings, exceeds the Total Commitment as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans and, after all Swingline Loans have been repaid in full or no Swingline Loans are outstanding, Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the Total Commitment as then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash equal to the amount of such excess (up to a maximum amount equal to the Letter of Credit Outstandings at such time), such cash to be held as security for all obligations of the Borrower to the Issuing Lender and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent. (b) Notwithstanding anything to the contrary contained in this Agreement or in any other Credit Document, (i) all then outstanding Revolving Loans shall be repaid in full on the Maturity Date, (ii) all then outstanding Swingline Loans shall be repaid in full on the Swingline Expiry Date and (iii) all then outstanding Loans shall be repaid in full on the date on which a Change of Control occurs. (c) On any day on which the Asset Coverage Ratio is less than 2.00:1.00 (based on the most recently delivered Valuation Certificate, subject to adjustments contemplated by Section 8.01(j)), the Borrower shall prepay principal of outstanding Loans and/or cash collateralize outstanding Letters of Credit, in accordance with the immediately following sentence, in an aggregate amount necessary to increase the Asset Coverage Ratio to at least 2.00:1.

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

  • Member's Capital Accounts A Capital Account for the Member shall be maintained by the Company. The Member's Capital Account shall reflect the Member’s capital contributions and increases for any net income or gain of the Company. The Member’s Capital Account shall also reflect decreases for distributions made to the Member and the Member’s share of any losses and deductions of the Company.

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

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