New Project Capital Calls Sample Clauses

New Project Capital Calls. In addition to Phase I Capital Calls and subject to Section 5.1, upon Majority Approval of the Board of a New Project, or upon Supermajority Approval of a New Project for those New Projects described in Section 7.7(a)(xvii), as applicable, the Company may call for additional capital necessary to fund such New Project (each such call, a “New Project Capital Call”) by written notice (a “New Project Notice”) to each of the Class A Members setting forth the aggregate amount of capital required and each Class A Member’s Pro Rata portion thereof. If the aggregate amount of capital requested in the New Project Capital Call relating to a New Project, together with all amounts previously called pursuant to New Project Capital Calls relating to such New Project, is in an aggregate amount equal to or less than [**] (each such New Project Capital Call, a “Mandatory New Project Capital Call”), then each Class A Member shall have the right and obligation to make an Additional Capital Contribution in an amount equal to its Pro Rata portion of the amount required by the applicable Mandatory New Project Capital Call in accordance with the Mandatory New Project Capital Call. Upon the issuance of a New Project Capital Call relating to a New Project that, together with all amounts previously called pursuant to New Project Capital Calls relating to such New Project, is for an aggregate amount in excess of [**] (each such New Project Capital Call, an “Initial Optional New Project Capital Call”), the Company shall provide notice to the Class A Members that the provisions of Section 5.4(b) shall apply to such Initial Optional New Project Capital Call. The Class A Members shall have the right in accordance with the applicable Initial Optional New Project Capital Call, but (subject to Section 5.4(b)) shall have no obligation, to make an Additional Capital Contribution with respect to any portion of such Initial Optional New Project Capital Call, and all future New Project Capital Calls relating to the development and construction of such New Project (each, a “Subsequent Optional New Project Capital Call”, and together with the Initial Optional New Project Capital Call, a “Optional New Project Capital Call”). Each New Project Capital Call shall state (i) the aggregate amount of the additional capital called for, (ii) the payment date or payment schedule (it being understood and agreed that unless each of the Principal Members otherwise agrees, the first payment of Additional Capital...
Sample 1
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New Project Capital Calls. In addition to Phase I Capital Calls and subject to Section 5.1, upon Supermajority Approval the Company may call for additional capital necessary to fund any New Projects (each such call, a “New Project Capital Call”) by written notice (a “New Project Notice”) to each of the Class A Members setting forth the aggregate amount of capital required and each Class A Member’s Pro Rata portion thereof. If the aggregate amount of capital requested in the New Project Capital Call relating to a New Project, Confidential Treatment Requested
Sample 1

Related to New Project Capital Calls

  • Capital Calls Except as set forth in the Constituent Documents and the Side Letters, no Borrower shall make any contractual agreement which shall restrict, limit, penalize or control its ability to make Capital Calls or the timing thereof.

  • Additional Funds and Capital Contributions .. 22 Section 4.4 Stock Option Plan................................... 23 Section 4.5 No Interest; No Return.............................. 24 Section 4.6 Conversion or Redemption of Preferred Shares........ 24

  • Cost Overruns In the event that the costs and expenses incurred by Borrower in completing any work which is the subject of this Agreement exceed the respective amounts allocated by Lender for such items of expense, Borrower shall be responsible for the payment (from sources other than the Property Reserves) of such excess costs and expenses.

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

  • Initial Capital Contribution On March 7, 2007, the Member made a capital contribution of One Hundred Dollars ($100.00) to the Company, and, as consideration therefor, the Member received a percentage interest of One Hundred Percent (100%) in the Company.

  • 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 Budget Any amendment that is mutually agreed upon shall be set forth in writing and signed by both parties. It is acknowledged by Owner that capital expenditures required as a result of an emergency situation shall not reduce amounts available pursuant to the Capital Budget or otherwise hereunder, other than to the extent a Capital Budget item is subsumed within the capital expenditures required as a result of the occurrence of the emergency;

  • 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.

  • Additional Funding and Capital Contributions If the Board of the Company or Haimeng at any time or from time to time determines that funding and/ or capital contributions to the Company or Haimeng are necessary to conduct the Company’s or Haimeng’s business activities, then:

  • Initial Capital Contributions (a) The Partners have made, on or prior to the date hereof, Capital Contributions and, in exchange, the Partnership has issued to the Partners the number of Class A Units as specified in the books and records of the Partnership.

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