Members’ Initial Capital Contributions. The Member has contributed in immediately available U.S. funds, or in fair market value of property or services rendered, or a promissory note or other binding obligations to contribute cash or property or to perform services, that amount set forth opposite the Member’s name on Exhibit A hereto, for the number of Units set forth opposite the Member’s name thereon.
Members’ Initial Capital Contributions. Not later than the closing of the Contribution Agreement, each Member shall contribute such amount of cash or property as will constitute an allocation under the Capital Percentages to the BR Member and to the TriBridge Member, respectively, of the required equity to close under the Contribution Agreement and fund the development of the Project as governed by the Estimated Budget or Total Project Budget, as applicable, and at such time the Members shall insert the applicable figures in Exhibit “A” hereto (including the contribution by the BR Member and the TriBridge Member for the Acquisition Fee and/or by the BR Member for the Financing Fee, as applicable) (the “Initial Capital Contributions”). The Members acknowledge and agree that, for purposes of all IRR calculations on all Initial Capital Contributions, the date of initial funding shall be deemed to be September 15, 2015. The Members further acknowledge and agree that all costs related to the pursuit of the Project under the Cost-Sharing Agreement previously incurred by a Member or its Affiliate either (i) shall be deemed an Initial Capital Contribution of such Member and reduce the amount otherwise to be contributed by it to the Company or (ii) shall be refunded to such Member. The Members acknowledge that, simultaneously with the closing under the Contribution Agreement, the TriBridge Member will be making its Initial Capital Contribution to the Company as a contribution of 100% of the fee simple interest in the Property, subject to and encumbered only by the indebtedness set forth on Exhibit D hereto (the "Property Indebtedness"), with a value (net of such Property Indebtedness) of $1,200,000.00 (the "TBR Net Initial Capital Value"), and that the TriBridge Member shall receive a credit in the amount of the TBR Net Initial Capital Value towards its Initial Capital Contribution upon the contribution of the Property to the Company as provided under the Contribution Agreement. The Members acknowledge that 100% of the agreed value of the Initial Capital Contribution made by the TriBridge Member is attributable to the Property as and when contributed. The Members acknowledge and agree that, simultaneously with the closing under the Contribution Agreement (including the TriBridge Member causing the Current Owner to contribute ownership of the Property to the TriBridge Member and then the TriBridge Member’s immediate contribution of ownership of the Property to Borrower), a portion of the BR Member's Initi...
Members’ Initial Capital Contributions. Each of the Members have contributed their respective Holdings Membership Interests to the Company in exchange for the following Units in the Company, and the Members are deemed to have made an initial Capital Contribution to the capital of the Company as set forth in Schedule A and, in consideration therefor, the Company is issuing to each such Member the number of Units set forth opposite such Member’s name, representing the Percentage Interests in the Company as set forth in Schedule A. The Members are admitted as the Members of the Company upon their execution and delivery of this Agreement, or a joinder to this Agreement. The name, address, and Members’ Percentage Interests are as set forth on Schedule A subject to adjustment as herein provided. To the extent that any adjustment of Schedule A is required pursuant to this Agreement, whether as a result of the Capital Contribution of any Member, the Transfer of any Membership Interest (or any portion thereof), the admission of any additional Members, or otherwise as provided herein, the parties hereto acknowledge and agree that Schedule A shall automatically be deemed amended and restated to reflect the correct name and capital contribution of each Member in accordance with the books and records of the Company without further action by any of the Parties (and the Units held by the Members shall be similarly adjusted, so that each Member shall have such number of Units equal to 100,000 multiplied by such Member’s Percentage Interest) from time to time.
Members’ Initial Capital Contributions. Each of the Members has contributed to the Company certain cash Capital Contributions indicated on attached Exhibit A.
Members’ Initial Capital Contributions. Each Member has contributed or shall be obligated to contribute such amount as is set forth in Exhibit “A” hereto as its share of the Initial Capital Contribution.
Members’ Initial Capital Contributions. The Initial Capital Contributions to the Company of each of the Members have been made concurrently with the Effective Date.
Members’ Initial Capital Contributions. (a) Strathmore, as its Initial Capital Contribution, hereby contributes the Property described in Appendix B to the capital of the Company.
Members’ Initial Capital Contributions. (a) The names, addresses, initial Capital Contributions, and Membership Interests of the Members are set forth on Exhibit "A" hereto.
Members’ Initial Capital Contributions. In exchange for their respective Membership Interest, each Member shall contribute to the Company's Capital the amount set forth on Exhibit A attached hereto.
Members’ Initial Capital Contributions. Each Member has contributed the associated amount as is set forth in Exhibit “A” hereto as its share of the Initial Capital Contribution. In addition to the Members’ Initial Capital Contributions, Exhibit A for informational purposes only reflects the initial capital contributions into the Borrower that were required from and simultaneously made by the Bxxxx Co-Tenants. Notwithstanding the foregoing, the Members agree that all Pursuit Costs (as such term is defined in the Cost-Sharing Agreement) previously incurred by a Member or its Affiliate were either (i) deemed an Initial Capital Contribution of such Member and reduced the amount otherwise to be contributed by it to the Company or (ii) refunded to such Member by the Borrower such that each of the Co-Tenants bears its pro rata share of such amount.
