Common use of Membership Capital Clause in Contracts

Membership Capital. Upon Closing, each participating Member shall make a Capital Contribution in an amount equal to its accepted “Commitment” (as defined in the Member’s subscription agreement, the “Subscription Agreement”) in exchange for an Interest. a) No Member will be paid interest on any Capital Contribution to the Fund. b) No Member has any right to demand the return of its Capital Contribution, except upon dissolution of the Fund pursuant to Article X. c) No Member has the right to demand property other than Portfolio Company Securities in return for its Capital Contribution, except upon dissolution of the Fund pursuant to Article VII.

Appears in 4 contracts

Samples: Purchase Agreement, Purchase Agreement, Purchase Agreement

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Membership Capital. Upon Closing, each participating Member shall make a Capital Contribution in an amount equal to its accepted “Commitment” Commitment (as defined in the Member’s subscription agreement, the “'s Subscription Agreement) in exchange for an Interest. (a) No Member will be paid interest on any Capital Contribution to the FundFund or on that Member's Capital Account. (b) No Member has any right to demand the return of its Capital Contribution, except upon dissolution of the Fund pursuant to Article X. (c) No Member has the right to demand property other than Portfolio Company Securities in return for its Capital Contribution, except upon dissolution of the Fund pursuant to Article VII.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Membership Capital. Upon Closing, each participating Member shall make a Capital Contribution in an amount equal to its accepted “Commitment” (as defined in the Member’s subscription agreement, the “Subscription Agreement”) in exchange for an Interest. (a) No Member will be paid interest on any Capital Contribution to the Fund. (b) No Member has any right to demand the return of its Capital Contribution, except upon dissolution of the Fund pursuant to Article X. (c) No Member has the right to demand property other than Portfolio Company Securities in return for its Capital Contribution, except upon dissolution of the Fund pursuant to Article VII.

Appears in 1 contract

Samples: Purchase Agreement

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Membership Capital. Upon Closing, each participating Member shall make a Capital Contribution in an amount equal to its accepted “Commitment” (as defined in the Member’s subscription agreement, the “Subscription Agreement”) in exchange for an Interest. (a) No Member will be paid interest on any Capital Contribution to the FundCompany or on that Member’s Capital Account. (b) No Member has any right to demand the return of its Capital Contribution, except upon dissolution of the Fund Company pursuant to Article X. (c) No Member has the right to demand property other than Portfolio Company Asset Securities in return for its Capital Contribution, except upon dissolution of the Fund Company pursuant to Article VII.

Appears in 1 contract

Samples: Individual Series Limited Liability Company Agreement (Freeport Holdings Series LLC)

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