SPECIAL CAPITAL CALLS Sample Clauses

SPECIAL CAPITAL CALLS. If Ets. Brancher, for any period of time greater than thirty (30) consecutive days, shall experience a cash deficit sufficient to place the continued operations of Ets. Brancher in jeopardy, then the management of the Ets. Brancher Company shall immediately notify the Committee and request that it immediately take any and all steps necessary to cure the cash deficit. Within ten (10) days of receiving such a request, the Committee, at its sole discretion, may elect to: (i) attempt to arrange for an emergency loan to the company, such loan to be made by any lender acceptable to the Committee (including either or both Shareholders) upon such terms as the Committee in its sole discretion shall approve; (ii) propose a Special Capital Call upon the Shareholders in an amount sufficient to cure the cash deficit; or (iii) decline to act on the request. If the Committee for any reason shall not elect one of the actions specified above within ten (10) days of the receipt of such request, it shall give rise to a dispute and the remedies available under Section 7.1. Further, should any Shareholder not make any contribution approved by the Committee and the Parties, within twenty (20) days of the date of the formal decision, the other Shareholder, at its sole discretion, shall have the option to pay the capital contribution of the nonpaying Shareholder; provided, the Shareholder contributing additional capital shall be entitled to additional shares of Company Stock of Ets. Brancher sufficient such that the percentage of ownership of stock of Ets. Brancher held by such Shareholder shall equal the percentage that the total capital contributions made by such Shareholder to Ets. Brancher bears to the Ets. Brancher Company Value as described in Section 3.3.A(i) and such total capital contributions. It is further agreed that all further capital increases will be based on the Ets. Brancher Stock Price defined in Section 3.3.B(i).
Sample 1
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Related to SPECIAL CAPITAL CALLS

  • Capital Calls (i) After the Effective Date, the CORR Managers, may, in their sole discretion, determine that additional Capital Contributions are necessary for the conduct of the Company’s business (any such additional Capital Contributions called from the Capital Members by the Board, being hereinafter referred to as an “Additional Call Amount”). In connection with determining that an Additional Call Amount is necessary, the CORR Managers shall (A) issue Class B-1 Units (the “Additional Call Units”) to the Capital Members in the event such Capital Members actually fund Capital Contributions in respect of such Additional Call Amount (the “Contributing Members”) and (B) determine the Fair Market Value of each Class B-1 Unit of such Additional Call Units (the “Additional Call Unit FMV”). Xxxxx shall have the right to acquire such Additional Call Units in an amount equal to (i) the number of Additional Call Units offered multiplied by (ii) a fraction (A) the numerator of which is the number of Class C-1 Units held by Xxxxx and (B) the denominator of which is the number of Class C-1 Units held by all Members (for each Capital Member, the “Class C-1 Ratio”). Should Xxxxx desire to exercise such right, Xxxxx shall give notice thereof to the Company within thirty (30) days following receipt of a notice from the Company of its intent to issue Additional Call Units (a “Preemptive Right Response”). Absent receipt of a Preemptive Right Response from Xxxxx within such 30-day period, the Company shall be entitled to assume that such Member has elected not to exercise its rights under this Section 3.3. (ii) Upon the funding of any Capital Contribution by a Contributing Member, such Contributing Member shall be issued a number of Additional Call Units equal to the amount of the Capital Contribution made by such Member divided by a price per Additional Call Unit equal to the Additional Call Unit FMV. Exhibit A and the books and records of the Company shall be thereafter amended accordingly to reflect the funding of any Capital Contributions by a Contributing Member and the issuance of any Units in connection therewith, including any upward or downward adjustments to the Sharing Ratios of the Members in the event a Member does not elect to make a Capital Contribution and a Contributing Member increases its Capital Contribution amount in accordance with Section 3.3(b)(i).

  • Initial Capital The initial capital of the Company shall be the sum of cash contributed to the Company by the Member (the “Capital Contribution”) in the amount set out opposite the name of the Member on Schedule A hereto, as amended from time to time and incorporated herein by this reference.

  • Initial Capital Contribution The initial Capital Contribution of the Original Member as of the date of this Agreement will be $ .

  • Initial Capital Contributions The Partners have made, on or prior to the date hereof, Capital Contributions and have acquired the number of Class A Units as specified in the books and records of the Partnership.

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

  • Additional Capital The Member shall not be obligated to make any Capital Contributions other than the initial Capital Contributions specified in Section 3.2.

  • 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:

  • Initial Capital Contribution and Ownership The Trust Beneficial Owner has paid or has caused to be paid to, or to an account at the direction of, the Trustee, on the date hereof, the sum of $15 (or, in the case of Notes issued with original issue discount, such amount multiplied by the issue price of the Notes). The Trustee hereby acknowledges receipt in trust from the Trust Beneficial Owner, as of the date hereof, of the foregoing contribution, which shall be used along with the proceeds from the sale of the series of Notes to purchase the Funding Agreement. Upon the creation of the Trust and the registration of the Trust Beneficial Interest in the Securities Register (as defined in the Trust Agreement) by the Registrar in the name of the Trust Beneficial Owner, the Trust Beneficial Owner shall be the sole beneficial owner of the Trust.

  • 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 Capital Contributions (Check One)

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