Phase III Capital Contribution Sample Clauses

Phase III Capital Contribution. The Parties agree that for the purposes of the Harborside Entity C Operating Agreement, Owner’s deemed contribution of Unit 3 shall be valued at thirty ($30) dollars per square foot of buildable area, defined as the gross floor area of Unit 3 approved for development (as set forth in the Required Approvals) minus the number of square feet attributable to all mechanical and garage space associated with Unit 3 (the “Unit 3 Established Value”). Upon the Parties entering into the Harborside Entity C Operating Agreement, Owner shall be credited with a capital account equal to the aggregate of the Unit 3 Established Value and the Owner Pre-Development Costs allocable to Unit 3 (collectively, the “Unit 3 Owner Capital Value”). The required capital contribution for the Ironstate Member C Interest (the “Phase III Capital Contribution”) shall equal seventeen and point six four seven zero five percent (17.64705%) of the Unit 3 Owner Capital Value. The Phase III Capital Contribution shall be reduced as set forth in Section 2.3, on a dollar for dollar basis, by the amount equal to the Ironstate Pre-Development Costs attributable to Phase III of the Project.
Sample 1
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Phase III Capital Contribution. The Phase III Capital Contribution, to be tendered by Ironstate Member C to Harborside Entity C as set forth in Section 6.8(b) above.
Sample 1

Related to Phase III Capital Contribution

  • 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.

  • 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.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

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

  • 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

  • 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.

  • Capital Contributions Distributions 10 SECTION 5.1

  • 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.

  • Member and Capital Contribution The name and the business address of the Member and the amount of cash or other property contributed or to be contributed by the Member to the capital of the Company are set forth on Schedule A attached hereto and shall be listed on the books and records of the Company. The managers of the Company shall be required to update the books and records, and the aforementioned Schedule, from time to time as necessary to accurately reflect the information therein. The Member shall not be required to make any additional contributions of capital to the Company, although the Member may from time to time agree to make additional capital contributions to the Company.

  • 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:

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