No Additional Contributions. Except as otherwise expressly provided in this Agreement, neither Owner nor Purchaser shall, under any circumstances, be required to, or provide funds to, build or rebuild any improvement at the Hotel, or make any repairs, replacements, alterations, restorations or renewals of any nature or description to the Hotel, whether ordinary or extraordinary, structural or nonstructural, foreseen or unforeseen.
No Additional Contributions. No Member shall be required to contribute any additional capital to the Company, and no Member shall have personal liability for any obligation of the Company except as expressly provided by law.
No Additional Contributions. The Trust is to be funded by the Cy Pres Fund established in the settlement of Keepseagle x. Xxxxxxx, No. 1:99CV03119 (D.D.C.). The Trust shall not accept contributions of additional property from any other source.
No Additional Contributions. No Member shall be permitted or required to make any Capital Contributions to the Company except as provided in Section 3.01 or as otherwise agreed by both Members. All Capital Contributions shall be made in cash unless otherwise expressly agreed to in writing by both Members.
No Additional Contributions. Except as provided in Section 8(a), the Members shall have no obligation to contribute capital to the Company.
No Additional Contributions. The Members are not intended to have personal liability for the obligations of the Company (whether arising in tort, contract or otherwise) above their actual capital commitments established in accordance with Section 6.1 and no contributions, other than the initial contributions, shall be required.
No Additional Contributions. Except as provided in Section 3.4, no Partner shall be required to make additional contributions to the Partnership, Any additional contributions that are approved by both Partners shall be made in accordance with their relative Capital Percentages.
No Additional Contributions. Sections III.C.1 and III.C.2 identify the only events pursuant to which the Gross Fund may increase. In no other event besides those specifically described in Sections III.C and III.D shall the Gross Fund exceed $13,100,000.00. For the avoidance of confusion, the triggering events in Sections III.C and III.D are not mutually exclusive.
No Additional Contributions. The Investing Members are not required to contribute additional capital or lend funds to the Company.
No Additional Contributions. No Member shall be obligated to contribute additional capital to the Company over and above the Initial Capital Contribution required pursuant to Section 8.1 above, but, to the extent the Board determines that additional Capital Contributions are necessary or appropriate in connection with the conduct of the Company’s business (including expansion or diversification), the Members may be permitted to make additional Capital Contributions if they so desire. In such event, the Members shall have the opportunity (but not the obligation) to participate in such additional Capital Contributions on pro rata terms. If a Member chooses not to make additional capital contributions, as may be determined by the Managers (a “Non-Contributing Member”), the Membership Interests of all the Members shall be adjusted as follows: (i) the Non-Contributing Member’s Membership Interest shall be reduced so that it is equal to the result (expressed as a percentage) obtained by dividing (A) the product of the Non-Contributing Member’s Membership Interest multiplied by the total Capital Contributions made by all Members (not including the subject additional capital contribution), by (B) the sum of the total Capital Contributions made by all Members (not including the subject additional capital contribution) plus the total of the subject additional capital contributions, and (ii) the other contributing Members’ Membership Interest shall be increased, pro rata, by the amount of the reduction in the Non-Contributing Member's Membership Interest. For example, if the total capital contributions, before any additional capital contributions, were equal to $100,000, and if the additional capital contributions were equal to $25,000, and if there is one Contributing Member and one Non-Contributing Member, a Non-Contributing Member with a 20% Membership Interest would have his Membership Interest reduced to sixteen percent (16%) ($20,000/$125,000), and the Contributing Member would have his Membership Interest increased from 80% to 84%.
