Release of Capital Contribution Obligations. At the time of closing on the purchase and sale of a Membership Interest pursuant to this Article, each selling Member will be released from any further obligation to make Capital Contributions to the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Hersha Hospitality Trust), Limited Liability Company Agreement (Hersha Hospitality Trust)
Release of Capital Contribution Obligations. At the time of closing on the purchase and sale of a Membership Interest pursuant to this ArticleArticle 12, each selling Member will be released from any further obligation to make Capital Contributions to the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Storage Usa Inc), Limited Liability Company Agreement (Storage Usa Inc)
Release of Capital Contribution Obligations. At the time of closing on the purchase and sale of a Membership Interest pursuant to this ArticleARTICLE 12, each selling Member will be released from any further obligation to make Capital Contributions to the CompanyCompany in connection with the Project or Projects subject to the Buy-Sell Option.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Apartment Investment & Management Co)
Release of Capital Contribution Obligations. At the time of closing on the purchase and sale of a Membership Interest pursuant to this ArticleSection 7.3(b), each selling non-acquiring Member will be released from any further obligation to make Capital Contributions to the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (TNP Strategic Retail Trust, Inc.)
