Required Capital Contributions. No Member shall have any obligation to make any Capital Contributions to the Company other than as expressly set forth herein. In particular, no Member shall have any obligation to restore (to the Company or to or for the benefit of any creditor of the Company) any deficit balance in its Capital Account at any time, whether on liquidation or otherwise, and such deficit balance shall not be considered a debt owed by such Member to the Company or to any other Person for any purpose whatsoever.
Required Capital Contributions. (a) If the Outside Financing cannot be obtained on terms and conditions acceptable to the Manager, but the Company is required to advance funds to FCC pursuant to the terms of the Commitment, then on or before the date such funds are required to be advanced, Berkadia-Management shall fund to the Company an amount of Capital Contributions that, when combined with the Outside Financing actually obtained, is sufficient to satisfy the Company's obligations under the Commitment.
(b) If any payment, including any amount of principal, interest or similar item, or any amount attributable to indemnification obligations of the Company under the Outside Financing Documents, is due to be paid to the lenders who have provided the Outside Financing and the Company does not have sufficient funds to make such payment (apart from Finova Fees, Stock Proceeds or the FNV Stock), then on or before the date such funds are required to be paid, Berkadia- Management shall fund to the Company an amount of Capital Contributions that is sufficient to pay the amounts required to be paid (without drawing upon such Finova Fees, Stock Proceeds or the FNV Stock, which assets shall not be applied by the Company to satisfy such Company obligations, and shall retain their status as such items for all purposes of this Agreement, including for purposes of applying Section 4.1 hereof). Consistent with the preceding sentence, and pursuant to Section 18-303(b) of the Act, Berkadia-Management hereby agrees to be liable for all of the Company's obligations under the Outside Financing, and no other Member shall bear any responsibility or liability for any portion of such Company obligations.
(c) If the Company incurs costs or expenses, other than those set forth in Section 2.3(a) or (b) above, and does not have sufficient funds to pay such expenses (apart from Finova Fees, Stock Proceeds or the FNV Stock), upon demand by the Company or by either Member, the Members shall promptly make Capital Contributions sufficient to pay such costs and expenses (without drawing upon such Finova Fees, Stock Proceeds or the FNV Stock, which assets shall not be applied by the Company to satisfy such Company expenses, and shall retain their status as such items for all purposes of this Agreement, including for purposes of applying Section 4.1 hereof) in accordance with the following:
(i) with respect to costs and expenses incurred in the operation of the Company's Business from the Formation Date through the date of,...
Required Capital Contributions. Each Limited Part- -------------------------------------------- ner shall make an "Initial Capital Contribution" to the Partner- ship in an amount not less than $1,000 in cash or assets (subject to the discretion of the General Partner to accept lesser amounts and to determine whether to accept any assets and, on a reason- able basis, the value of any such assets). The General Partner shall be required to make additional Capital Contributions to the Partnership from time to time to the extent necessary to maintain the balance of its Capital Account at an amount which results in the Partnership being treated as a partnership for Federal income tax purposes.
Required Capital Contributions. (a) Subject to the limitations contained in Section 6.04(b) and the other requirements of this Agreement, during the Commitment Period, each Member shall contribute to the capital of the Company an amount up to, but not to exceed, its aggregate Commitment. The Company will issue one (1) Unit for each $1,000 of capital contributed to the Company by such Members (or a partial Unit for capital totaling less than $1,000). No Member shall have any obligation to make any contributions to the Company after the expiration of the Commitment Period, except as otherwise provided in this Agreement. Each Member shall be required to contribute its Commitment Percentage of the aggregate amount of all contributions of capital to the Company which may be called for from time to time by the Manager prior to the Commitment Termination Date; provided that no Member shall ever be obligated to make contributions of capital to the Company in excess of its Commitment. The Manager will give each Member not less than ten (10) Business Days prior written notice of any required contributions of capital to the Company, including such Member's Commitment Percentage thereof, which notice shall contain a brief description of the intended uses of such contributions of capital. The Manager shall not call for capital contributions from the Members more frequently than once per calendar quarter. The Members agree that Capital Contributions can be used for any lawful Company purpose consistent with the provisions of this Agreement. No Capital Contributions returned to Members shall be subject to recall and re-contribution, except as otherwise provided in Section 4.01(b) or Section 5.01(c). All Capital Contributions shall be made to the Company by wire transfer in same day funds on or before the date specified in the written notice from the Manager of a required contribution of capital.
(b) If a Member fails to pay any installment of its Commitment when due, a written notice of default shall be given to such Member in accordance with Section 4.06 by the Manager. If the installment is not received by the Company prior to the expiration of the cure period set forth in Section 4.06, in the Manager’s sole and absolute discretion, such amount shall constitute a demand loan to such Member payable to the Company (“Default Loan”) that shall bear interest at the Default Rate, compounded monthly, from and after the original due date of such installment (the “Default Date”) until the earliest of either (...
Required Capital Contributions. If either (i) during the first twelve (12) month period during which this Agreement remains in effect, the Cash and Cash Equivalents of the Company (including Reserves) should be less than One Hundred Thousand Dollars ($100,000) or (ii) at any time after the first anniversary of the date of this Agreement, the Cash and Cash Equivalents of the Company (including Reserves) should be less than Five Hundred Thousand Dollars ($500,000), then either Global or LaBaxxx (xxe "Calling Member") may, by means of written notice to the Company and each other Member (a "Call Notice"), require each Member to contribute an amount to the capital of the Company consisting of the product of such Member's Membership Interest multiplied by the amount of such deficiency. In the event either LaBaxxx xx Global requires any such capital contributions hereunder, each Member shall make such capital contributions within fifteen (15) days after such Member delivers or receives such Call Notice (whichever is applicable). If any Member defaults in its obligations to make any capital contribution required hereunder, then the Calling Member may, at its option, contribute the defaulting Member's required amount to the Company or the Company may, at the Calling Member's option, retain all distributions which such defaulting Member is entitled to receive hereunder up to the amount of such defaulting Member's obligations hereunder which amounts shall be deemed to have been distributed to such defaulting Member hereunder and re-contributed to the Company. If a Member defaults in its obligation to make a capital contribution required hereunder, the nondefaulting Member with respect to such required capital contribution hereunder shall be entitled to receive additional Class A Membership Units in exchange for its capital contribution. The number of additional Class A Membership Units a nondefaulting Member shall be entitled to shall equal the following:
6.2.1 If such a default occurs before the earlier of (i) the first anniversary of this Agreement or (ii) the default in such obligation to make an aggregate of $375,000 of capital contributions by such Member (a "$375,000 Capital Call"), then such number of Class A Membership Units shall be the amount of additional capital contributed by the nondefaulting Member in excess of that capital contribution by the defaulting Member, divided by the book value of a Membership Unit immediately before the Member made the additional capital contribution. For ...
Required Capital Contributions. (a) Upon the execution of this Agreement, OASIS shall contribute to the Company all of the outstanding capital stock of ORS, pursuant to the terms of the Contribution Agreement.
(b) Upon the execution of this Agreement, EOI shall contribute to the Company shares of EGLOBE Common Stock, and the EGLOBE Warrants, pursuant to the terms of the Contribution Agreement.
Required Capital Contributions. In addition to its initial, nonrefundable capital contribution, Bullion would be required to contribute an additional 1.75 million USD to be used by the JV in the exploration of the Bom Xxxxx and Bom Jardim Properties (the “Capital Funds”). At a minimum, Bullion would be required to contribute $80,000 each month (for 22 months) until the entire Capital Funds will have been contributed, but it could contribute more - should circumstances warrant. The $75,000 already given to Dourave Canada and Dourave Brazil through that certain Promissory Note and Advance, executed on or about March 25, 2009, would be treated as an advance of the first $250,000 capital contribution and the Promissory Note and Advance would be cancelled. No contribution would be made for the month following the month in which the initial capital contribution is made (month 1 = $175,000, skip next month, then $80,000 for the next 22 months).
Required Capital Contributions. Subject to the approval of the Exchange Control Authority of Barbados being obtained by Landmark:
(a) (i) On the Effective Date or such other date as the Members Committee shall determine, Wxxxxxxx and Landmark shall each make an interest free (subject to Section 4.1(a)(iii)) loan to the Society in an amount equal to $US 150,000.00. In the event the development of the Project Site is commenced in accordance with the Project Business Plan prior to the date that all loans to the Society pursuant to this Section 4.1(a)(i) are made, the parties shall be relieved of the obligation to make further loans pursuant to this Section 4.1(a)(i). It is further agreed that the sum of loans by each party is an estimate of the cash requirements of the Society prior to the commencement of the development of the Project Site and such amount may be adjusted upward or downward by the Members Committee as and when the cash requirements of the Society can be more precisely determined.
Required Capital Contributions. The required capital contribution ("Required Capital Contribution Amount") to the capital of the Partnership shall be 110% of the Required Down Payment for all Licenses awarded to the Partnership at the Auction. Each Partner's share of the Required Capital Contribution Amount shall be the Required Capital Contribution Amount multiplied by that Partner's respective Required Capital Contribution Amount Percentage, as set forth on Schedule I. The amount of each contribution of each Partner shall be recorded by the General Partner as a contribution to the capital of the Partnership. Notwithstanding anything to the contrary, in no event shall the Required Capital Contribution Amount for each Partner exceed the amounts set forth on Schedule I.
Required Capital Contributions. Immediately after receiving the proceeds of the Southern Diversified Timber Loan, the Initial Holder shall contribute $783,000,000 in cash to the Partnership, in exchange for which the Series T-1 Interest shall be issued to the Initial Holder and the Initial Holder shall be admitted to the Partnership. No further capital contributions will be required with respect to the Series T-1 Interest.
