Common use of Members Capital Contributions Clause in Contracts

Members Capital Contributions. Each organizing member shall be required to make the capital contributions of cash to the Company at the times and in the amounts set forth across from such member's name as shown on Schedule A hereto, as the same may be amended from time to time pursuant to section 7 of this Article, by paying, or causing to be paid, said amount to the Company. Upon receipt of such payment, such amount shall be credited to the member's Capital Account (as such term is defined in Article VI) and shall be available to the Company to pay for the expenses associated with the Company's business activities, pursuant to the Company's procedures for approving expenditures. Members shall not be entitled to interest on the capital contributions. A member's failure to make a scheduled capital contribution shall result in a suspension of such member's voting rights until such time as the member makes the required contribution. The Board may establish an interest penalty for late payments, which interest penalty shall not exceed the lawful rate. For purposes hereof, a member's payment shall not be considered late until ten (10) business days after receipt of a notice from the Company of such member's failure to make a scheduled payment.

Members Capital Contributions. Each organizing member shall be required to make the capital contributions of cash to the Company at the times and in the amounts set forth across from such member's ’s name as shown on Schedule A hereto, as the same may be amended from time to time pursuant to section 7 of this Article, by paying, or causing to be paid, said amount to the Company. Upon receipt of such payment, such amount shall be credited to the member's ’s Capital Account (as such term is defined in Article VI) and shall be available to the Company to pay for the expenses associated with the Company's ’s business activities, pursuant to the Company's ’s procedures for approving expenditures. Members shall not be entitled to interest on the capital contributions. A member's ’s failure to make a scheduled capital contribution shall result in a suspension of such member's ’s voting rights until such time as the member makes the required contribution. The Board may establish an interest penalty for late payments, which interest penalty shall not exceed the lawful rate. For purposes hereof, a member's ’s payment shall not be considered late until ten (10) business days after receipt of a notice from the Company of such member's ’s failure to make a scheduled payment.