Return of Unused Capital Contributions Sample Clauses

Return of Unused Capital Contributions. 6.3.1 If any proposed Portfolio Investment with respect to which there has been a Drawdown is not consummated or if the amount of funds drawn down for any reason exceeds the amount necessary, as the case may be, the General Partner shall return such Drawdown or such excess amount of funds, together, in each case, with any interest or gains thereon (net of any Fund Expenses in respect thereof), to the Limited Partners within [sixty (60)] days of such Drawdown, in the same proportions that such funds were contributed by the Limited Partners. 6.3.2 If at any time following the delivery of any Drawdown Notice it is intended to use any part of the relevant Drawdown for a purpose other than that specified in such Drawdown Notice then, at least ten (10) Business Days prior to such use, the General Partner shall provide to each Limited Partner a revised Drawdown Notice with the intention and the effect that each Limited Partner has the opportunity to exercise any right to be an Excused Limited Partner that it has with respect to such Drawdown pursuant to Section 6.7 (Excused Limited Partners).
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Return of Unused Capital Contributions. Any contributions held by the Company as of the last day of the Investment Period shall be promptly distributed to the Members to the extent that such contributions are not needed, as reasonably determined by the Manager, (i) to pay or fund reserves to pay Company expenses and obligations (including, without limitation, the Management Fee), (ii) to fund acquisitions of securities the Company has committed to acquire, or is in the process of acquiring, as of the close of the Investment Period, and (iii) with respect to the Class B Members and in accordance with Section 5.2 to fund acquisitions solely by the Class B Members of securities made to protect the value of previously acquired securities positions. Any amounts retained pursuant to (i), (ii) or (iii) of the preceding sentence shall be promptly distributed if they become no longer needed for the purposes for which they were retained.
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Return of Unused Capital Contributions. In the event that any portion of the Members' Capital Contributions are not used by the Company or, in the judgment of the Board, are not committed by the Company in conjunction with the acquisition, development, operation, management or sale of the Project (including the funding of the Project Reserve) within three (3) months of the date any such Capital Contributions were made, then such unused portions shall be distributed to the Members, ratably in proportion to their Capital Contributions made as of the date of such distribution, without interest paid thereon, as a return of capital.
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Return of Unused Capital Contributions. If the Company receives Capital Contributions in excess of the Company’s actual requirements, the B Manager shall cause the Company to return the excess portion of such Capital Contributions to the Class A Members within 10 Business Days after the funding of such Capital Contributions to the Company, and the Commitments of the Class A Members shall be restored by such amount. Any funds returned to the Members pursuant to this Section 5.3 shall not be treated as Capital Contributions, nor shall the return of such funds be treated as a Company distribution for purposes of Section 7.1.
Sample 1
Return of Unused Capital Contributions. (a) 6.3.1 If any proposed Portfolio Investment with respect to which there has been a Drawdown is not consummated or if the amount of funds drawn down for any reason exceeds the amount necessary, as the case may becompleted, the General Partner shall return such Drawdown or such excess amount of funds, together, in each case, with any interest or gains thereon (net of any Fund Expenses in respect thereof), to the Limited Partners within [sixty (60)90]79 days of such Drawdown, in the same proportions that such funds were contributed by the Limited Partners. The Remaining Commitment of each Limited Partner shall be increased by any funds or excess amount of funds so returned, and such returned funds or excess shall not be reflected in such Limited Partner’s Capital Account or treated as a Capital Contribution. (b) 6.3.2 If at any time following the delivery of any Drawdown Notice it is intended to use any part of the relevant Drawdown for a purpose other than that specified in suchthe Drawdown Notice then, at least ten ([10) Business Days] prior to such use, the General Partner shall provide to each Limited Partner a revised Drawdown Notice with the intention and the effect that each Limited Partner has the opportunity to exercise any 79 To retain its flexibility with use of funds, some limited partnership agreements provide (as this one does) for the mandatory return of funds if not used for the initial intended purpose, because typically the distribution waterfall and the calculation of the preferred return provide a strong incentive for General Partners not to keep any unused funds in the Fund account for a long period of time. right to be an Excused Limited Partner that it has with respect to such Drawdown pursuant to Section 6.7 (Excused Limited Partners.).
Sample 1
Return of Unused Capital Contributions. (a) 6.3.1 If any proposed Portfolio Investment with respect to which there has been a Drawdown is not consummated or if the amount of funds drawn down for any reason exceeds the amount necessary, as the case may becompleted, the General Partner shall return such Drawdown or such excess amount of funds, together, in each case, with any interest or gains thereon (net of any Fund Expenses in respect thereof), to the Limited Partners within [sixty (60)90]79 days of such Drawdown, in the same proportions that Last Updated: July 2020 38Canadian Version such funds were contributed by the Limited Partners. The Remaining Commitment of each Limited Partner shall be increased by any funds or excess amount of funds so returned, and such returned funds or excess shall not be reflected in such Limited Partner’s Capital Account or treated as a Capital Contribution. (b) 6.3.2 If at any time following the delivery of any Drawdown Notice it is intended to use any part of the relevant Drawdown for a purpose other than that specified in suchthe Drawdown Notice then, at least ten ([10) Business Days] prior to such use, the General Partner shall provide to each Limited Partner a revised Drawdown Notice with the intention and the effect that each Limited Partner has the opportunity to exercise any right to be an Excused Limited Partner that it has with respect to such Drawdown pursuant to Section 6.7 (Excused Limited Partners.).
Sample 1
Return of Unused Capital Contributions. If any proposed Portfolio Investment with respect to which there has been a Drawdown is not completed, the General Partner shall return such Drawdown to the Limited Partners within [90]79 days of such Drawdown, in the same proportions that such funds were contributed by the Limited Partners. The Remaining Commitment of each Limited Partner shall be increased by any funds or excess amount of funds so returned, and such returned funds or excess shall not be reflected in such Limited Partner’s Capital Account or treated as a Capital Contribution. If at any time following the delivery of any Drawdown Notice it is intended to use any part of the relevant Drawdown for a purpose other than that specified in the Drawdown Notice then, at least [10 Business Days] prior to such use, the General Partner shall provide to each Limited Partner a revised Drawdown Notice with the intention and the effect that each Limited Partner has the opportunity to exercise any right to be an Excused Limited Partner that it has with respect to such Drawdown pursuant to Section 6.7 (Excused Limited Partners.).
Sample 1
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Related to Return of Unused Capital Contributions

  • Member Capital Contributions (Check One)

  • 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.

  • Return of Contributions The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from Partnership assets.

  • Interest on and Return of Capital Contributions No Member shall be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein.

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

  • 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 Capital Accounts (a) The capital contributions of each party shall be all amounts paid by it pursuant to the Agreement. With respect to each oil and gas property and the related assets subject to the Agreement, each party shall be treated as having contributed to the tax partnership an amount of cash equal to such party's share of any Lease acquisition or other property costs and the tax partnership shall be treated as having purchased such property from the party to whom such amounts are paid. (b) An individual capital account shall be maintained for each party in accordance with the following: (i) The capital account of each party shall, except as otherwise provided herein, be (A) credited by the amount of cash and fair market value of any property contributed to the tax partnership (net of any liabilities assumed by the parties hereto or to which such property is subject at the time of contribution) as provided in subparagraph (a) of this paragraph 4, and (B) credited with the amount of any item of taxable income or gain and the amount of any item of income or gain exempt from tax allocated to such party. (ii) The capital account of each party shall be debited by (A) the amount of any item of tax deduction or loss allocated to such party, (B) such party's allocable share of expenditures not deductible in computing taxable income and not properly chargeable as capital expenditures, including any non-deductible book amortizations of capitalized costs, and (C) the amount of cash or the fair market value of any property (net of any liabilities assumed by such party or to which such property is subject at the time of distribution) distributed to such party (after making the adjustment provided in subparagraph (b)(iii) in this paragraph 4). (iii) Immediately prior to any distribution of property that is not pursuant to a liquidation of the tax partnership, the parties' capital accounts shall be adjusted by assuming that the distributed assets were sold for cash at their respective fair market values as of the date of distribution and crediting or debiting each party's capital account with its respective share of the hypothetical gains or losses resulting from such assumed sales determined in the same manner as gains or losses provided for under paragraphs 4(b)(iv) and 6 for actual sales of such properties. (iv) The allocation of basis prescribed by Section 613A(c)(7)(D) of the Code and provided for in paragraph 6 hereinbelow and each party's depletion deductions shall not reduce such party's capital account, but such party's capital account shall be decreased by an amount equal to the product of (A) the depletion deductions that would otherwise be allocable to the tax partnership in the absence of Section 613A(c)(7)(D) of the Code (computed without regard to any limitations which theoretically could apply to any party) and (B) such party's percentage share of the adjusted basis of the property with respect to which such depletion is claimed (herein called "Simulated Depletion"). The tax partnership's basis in any oil or gas property, as adjusted from time to time for Simulated Depletion, is herein called "Simulated Basis." No party's capital account shall be decreased, however, by Simulated Depletion deductions attributable to any depletable property to the extent such deductions exceed such party's remaining Simulated Basis in such property. Upon the sale or other disposition of an interest in a depletable property, each party's capital account shall be credited with the gain ("Simulated Gain") or debited with the loss ("Simulated Loss") determined by subtracting from its allocable share of the amount realized on such sale or disposition its Simulated Basis, as adjusted by Simulated Depletion. (v) Any adjustments of basis of property provided for under Sections 734 and 743 of the Code and comparable provisions of state law (resulting from an election under Section 754 of the Code or comparable provisions of state law) shall not affect the capital accounts of the parties, and the parties' capital accounts shall be debited or credited as if no such election had been made unless otherwise required by applicable Treasury Regulations. (vi) Capital accounts shall be adjusted, in a manner consistent with subparagraph (b) of this paragraph 4, to reflect any adjustments in items of income, gain, loss or deduction that result from amended returns filed by the tax partnership or pursuant to an agreement with the Internal Revenue Service or a final court decision. (vii) In the case of property contributed to the tax partnership by a party, the parties' capital accounts shall be debited or credited for items of depreciation, Simulated Depletion, amortization and gain or loss with respect to such property computed in the same manner as such items would be computed if the adjusted tax basis of such property were equal to its fair market value on the date of its contribution to the tax partnership, in lieu of the capital account adjustments provided above for such items, all in accordance with Section 704(c) of the Code and Treasury Regulation 1.704-1(b)(2)(iv)(g).

  • Limitations on Return of Capital Contributions Notwithstanding any of the provisions of this Article 5, no Partner shall have the right to receive and the General Partner shall not have the right to make, a distribution that includes a return of all or part of a Partner’s Capital Contributions, unless after giving effect to the return of a Capital Contribution, the sum of all Partnership liabilities, other than the liabilities to a Partner for the return of his Capital Contribution, does not exceed the fair market value of the Partnership’s assets.

  • Interest on Capital Contributions No Member shall be entitled to any interest on its capital contribution.

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