Additional Capital Call definition
Examples of Additional Capital Call in a sentence
Notwithstanding the foregoing, the words "1.0 (100%)" shall replace the words "2.0 (200%)" for determining the applicable dilution for a Non-Contributing Partner in respect of any Additional Capital Call made pursuant to clause (a) of Section 6.2, to the extent, but only to the extent, that Berkshire's share of such Additional Capital Contribution is in excess of $10,000,000.
Subsequent to the First Additional Capital Call, a Participating Member calls for Additional Capital Contributions of $250,000 in the aggregate (the “Second Additional Capital Call”), of which the Investor Member is responsible for $121,750, the Owner Member is responsible for $125,250 and the Comfort Member is responsible for $3,000.
In addition to the requirement referred to in Section 5.2 for Founding Shareholder Approval, the Company shall not issue any shares to any Shareholder (whether in connection with an Additional Capital Call or otherwise) unless such Shareholder has executed and delivered to the Company such documents or instruments as shall be required by the Company to ensure compliance with all applicable securities laws.
The Company shall declare an Additional Capital Call by delivering notice thereof to each Shareholder (other than Management Company).
Except as otherwise agreed by the Members, such Additional Capital Contributions to be funded by each Member shall be in an amount equal to the amount of the aggregate Additional Capital Call in proportion to each Member’s Sharing Percentage.
In the event that any Shareholder elects not to make its entire share of an Additional Capital Contribution, the other Shareholders (other than Management Company) shall be entitled to make Additional Capital Contributions to make up the shortfall, pro rata based on the ratio that their respective Ownership Percentages shall constitute of the total Ownership Percentage of all Shareholders electing to fund the Additional Capital Call.
Upon receipt of notice of an Additional Capital Call, each Shareholder (other than Management Company) shall have the right, but not the obligation, to fund its pro rata portion thereof (an “Additional Capital Contribution”) in the manner, in such currency, and within the time period specified by the Company in the notice of the Additional Capital Call.
Within ten Business Days after the date such Additional Capital Call is declared by the Voting Member Majority, each Common Member shall be entitled to contribute, in cash, to the capital of the Company an amount (the "Additional Contribution") equal to such Common Member's Common Percentage Interest at the time of the Additional Capital Call multiplied by the aggregate additional capital contributions.
Upon such determination, the Managing Member shall notify each Nonmanaging Member in writing (each, an Additional Capital Call Notice ) of its intention to make a capital call (each an Additional Capital Call ).
The aggregate amount of all Shortfall Loans made by all Contributing Partners must be equal to the aggregate amount of all Shortfall Amounts, in each case with respect to the applicable Additional Capital Call.