Member Equity Contributions Sample Clauses

Member Equity Contributions. Capital Contributions to fund expenditures (i) contemplated by the Annual Budget or (ii) as otherwise approved by the Board shall be made by the Members in accordance with the procedures set forth in this Section 4.3. Prior to the beginning of each calendar quarter, the Board shall cause to be prepared, and shall approve, a written plan setting forth the projected cash flows and balances of the Company and the likely timing and amount of each periodic Capital Contribution to be made by each Member during each month in such calendar quarter (each, a "Cash Call"). Each Cash Call made pursuant to such plan shall be evidenced by a written notice given to each Member at least ten (10) Business Days (or such shorter period as agreed by the Members) prior to the date the Cash Call is due (a "Funding Notice"). Each Funding Notice shall set forth: (a) the total amount and purpose of the Cash Call and the portion of that amount being requested from each Member; and (b) the date on which payments of that Cash Call will be due and the method of payment, which date and method will be the same for all Members. Funding Notices may be given only by the Board or other Person specifically designated to do so by the Board. The Board may also issue a Funding Notice to the Members for Cash Calls to fund costs reasonably determined by the Board to be necessary to (a) address an emergency situation threatening life or property of the Company or (b) reimburse Member's Affiliates in accordance with Section 4.3.2. If one or more Members make Capital Contributions pursuant to Section 4.1.2.2, then, until such time as all the Capital Account Balances of all Members are proportional to their respective Sharing Ratios, the amount of each Member's Cash Call will be calculated in such a manner as to cause the Capital Account Balance of that Member to be in proportion to its Sharing Ratio, which calculation, in the case of a Member that has made its initial Capital Contribution pursuant to Section 4.1.2.2, may result in a share of that Cash Call that exceeds its Sharing Ratio, and, in the case of an Initial Member, may result in a share of that Cash Call that is less than its Sharing Ratio; otherwise, each Member will be obligated to pay the percentage of each Cash Call which equals its Sharing Ratio. Each Capital Contribution the Company receives from a Member under this Section 4.3.1 will be credited to that Member's Capital Account as of the date the Funding Notice relating thereto spe...
Sample 1
AutoNDA by SimpleDocs

Related to Member Equity Contributions

  • Equity Contributions Make, or permit any Significant Subsidiary to make, any equity contributions to any Unregulated Subsidiary; provided, however, that this Section 5.03(h) shall not restrict or otherwise apply to (i) any such equity contributions that are required by Applicable Law or court order or (ii) any intercompany advances made to any Unregulated Subsidiary (including, without limitation, pursuant to the Unregulated Money Pool Agreement) that are recharacterized by a court or other Governmental Authority as equity contributions.

  • Equity Contribution Prior to or substantially concurrently with the initial funding of the Loans hereunder, the Equity Contribution shall be consummated.

  • Return of Contributions The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from Partnership assets.

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • 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.

  • Subsequent Capital Contributions Without creating any rights in favor of any third party, each Member shall contribute to the Company, in cash, on or before the date specified as hereinafter described, that Member's Sharing Ratio of all monies that in the unanimous judgment of the Management Committee are necessary to enable the Company to acquire the Project from the Seller and to cause the assets of the Company to be properly operated and maintained and to discharge its costs, expenses, obligations, and liabilities, including without limitation its Sharing Ratio of the purchase price set forth in the Asset Sale Agreement, and its Sharing Ratio of Working Capital Requirements in order to bring current Company bank accounts to an amount equal to the Working Capital Requirements, as more particularly described in Section 5.01 below. The Management Committee shall notify each other Member of the need for Capital Contributions pursuant to this Section 4.02 when appropriate, which notice must include a statement in reasonable detail of the proposed uses of the Capital Contributions and a date (which date may be no earlier than the fifth Business Day following each Member's receipt of its notice) before which the Capital Contributions must be made. Notices for Capital Contributions must be made to all Members in accordance with their Sharing Ratios.

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

  • ALLOCATION OF CONTRIBUTIONS If the application is in good order, the initial Contribution will be applied within two Business Days of receipt at the Retirement Resource Operations Center. During the right to cancel period, all Contributions will be allocated in one or more of the Sub-Account(s) as specified in the application. During the right to cancel period, the Owner may change the allocations to the Sub-Accounts. Subsequent Contributions will be allocated to the Annuity Account in the proportion Requested by the Owner. If there are no accompanying instructions, then allocations will be made in accordance with standing instructions. Allocations will be effective upon the Transaction Date.

Time is Money Join Law Insider Premium to draft better contracts faster.