Other Initial Contributions of Sport-Xxxxx Sample Clauses

Other Initial Contributions of Sport-Xxxxx. Sport-Xxxxx shall initially contribute the following services and or property to the Company: (1) licensed use of the Callaway-Top-Flite license for the United States pursuant to the License Agreement. Explorer Gear acknowledges and agrees that the Company’s use of Sport-Xxxxx’x exclusive license to manufacture and sell Top-FliteÔ Apparel in the United States and the Territory (as defined in the License Agreement) is subject to the approval of Callaway, as set forth in the attached Exhibit C, and such use does not in any way constitute an assignment or sublicense of Sport-Xxxxx’x or Xxxxxxxx’x rights under the License Agreement. Further, any Change of Control of Sport-Xxxxx or assignment or transfer of Sport-Xxxxx’x membership interest in the Company shall not constitute an assignment of the Top-Flite license to the Company, unless approved by Sport-Xxxxx’x present management and Callaway; (2) with respect to the Wal-Mart Sales and Other Branded Sales, subject to Member expense reimbursement pursuant to Section 2.12: (a) use of Sport-Xxxxx warehouse facilities and personnel (with such personnel serving as independent contractors of the Company); (b) repackaging and staging the apparel sold to Wal-Mart and other customers at Sport-Xxxxx’x warehouse; (c) shipping and receiving of apparel to be sold to Wal-Mart and other customers; (d) administrative, accounting, invoicing, and collections services related to the Wal-Mart Sales and Other Branded Sales; (e) customer service; and (f) maintaining sufficient commercial general liability insurance related to the licensed sales of Top-FliteÔ Apparel pursuant to and in accordance with the License Agreement.
Sample 1
AutoNDA by SimpleDocs

Related to Other Initial Contributions of Sport-Xxxxx

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Tax Credit for Contributions You may be eligible to receive a tax credit for your IRA contributions. This credit will be allowed in addition to any tax deduction that may apply, and may not exceed $1,000 in a given year. You may be eligible for this tax credit if you are • age 18 or older as of the close of the taxable year, • not a dependent of another taxpayer, and • not a full-time student. The credit is based upon your income (see chart below), and will range from 0 to 50 percent of eligible contributions. In order to determine the amount of your contributions, add all of the contributions made to your IRA and reduce these contributions by any distributions that you have taken during the testing period. The testing period begins two years prior to the year for which the credit is sought and ends on the tax return due date (including extensions) for the year for which the credit is sought. In order to determine your tax credit, multiply the applicable percentage from the chart below by the amount of your contributions that do not exceed $2,000. *Adjusted gross income (AGI) includes foreign earned income and income from Guam, America Samoa, North Mariana Islands, and Puerto Rico. AGI limits are subject to cost-of-living adjustments each year.

  • Capital Contributions of the Partners (a) The General Partner and Initial Limited Partner have made the Capital Contributions as set forth in Exhibit A to this Agreement. (b) To the extent the Partnership acquires any property by the merger of any other Person into the Partnership or the contribution of assets by any other Person, Persons who receive Partnership Interests in exchange for their interests in the Person merging into or contributing assets to the Partnership shall become Partners and shall be deemed to have made Capital Contributions as provided in the applicable merger agreement or contribution agreement and as set forth in Exhibit A, as amended to reflect such deemed Capital Contributions. (c) Each Partner shall own Partnership Units in the amounts set forth for such Partner in Exhibit A and shall have a Percentage Interest in the Partnership as set forth in Exhibit A, which Percentage Interest shall be adjusted in Exhibit A from time to time by the General Partner to the extent necessary to reflect accurately exchanges, additional Capital Contributions, the issuance of additional Partnership Units or similar events having an effect on any Partner’s Percentage Interest. (d) The number of Partnership Units held by the General Partner, in its capacity as general partner, shall be deemed to be the General Partner Interest. (e) Except as provided in Sections 4.2 and 10.5, the Partners shall have no obligation to make any additional Capital Contributions or provide any additional funding to the Partnership (whether in the form of loans, repayments of loans or otherwise) and no Partner shall have any obligation to restore any deficit that may exist in its Capital Account, either upon a liquidation of the Partnership or otherwise.

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

  • 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.

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • Members Capital Contributions a) Single-Member Capital Contributions (Applies ONLY if Single-Member): The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes. b) Multi-Member (Applies ONLY if Multi-Member): The Members have contributed the following capital amounts to the Company as set forth below and are not obligated to make any additional capital contributions:

  • Capital Contributions and Accounts 12 4.1 Capital Contributions..........................................................................12 4.2 Additional Capital Contributions and Issuances of Additional Partnership Interests.............12 4.3

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

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!