Examples of Capital Contribution Account in a sentence
Preferred Members are entitled to receive a preferred return out of any assets legally available, at the cumulative, non-compounded rate of 8% per annum on such Preferred Members’ Adjusted Capital Contribution Account on each Preferred Unit.
Capital Contributions by the Members in connection with the funding of the Capital Contribution Account on the Closing Date are as set forth in Section 2(b) of the Permitted Capital Improvement Addendum attached hereto as Annex V (and references in the Transaction Documents to this Section 5.3 will be deemed to include such Section 2(b) of the Permitted Capital Improvement Addendum).
Additionally, one-third (0.25%) of the Asset Management Fee will be deferred until the receipt by the Unitholders of all amounts credited to a Unitholder’s Capital Contribution Account.
The rights of each Lender, the Issuing Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the Issuing Lender or their respective Affiliates may have; provided further that if any Lender is the depositary institution for the Capital Contribution Account, such Lender shall not exercise rights of set off against the Capital Contribution Account.
Payment of the Closing Payment shall be made by wire transfer of immediately available funds to the Equity Capital Contribution Account (for application in accordance with Section 7.5(a) of the Financing Agreement), or such other account or accounts as designated by Seller, in each case, in accordance with written notice delivered by Seller to Purchaser not less than two (2) Business Days prior to the Closing Date.