Funding Member definition
Examples of Funding Member in a sentence
No additional Units shall be issued to the Funding Member in connection with any additional Capital Contribution made pursuant to this Section 3.3. and there shall be no adjustment to the Gross Asset Value of the Company assets as a result of any additional Capital Contribution made pursuant to this Section 3.3; provided, however that such Funding Member’s Capital Account will increase as a result of.
As of the Funding Date, the Capital Contributions made by the DIP Loan Funding Members and the True-Up Members in accordance with this Section 3.1(h)(iv) shall be deemed Invested Capital and a Capital Contribution and included in the Capital Account of such DIP Loan Funding Member or True-Up Member.
The Funding Member is hereby constituted and appointed as attorney-in-fact, such appointment being coupled with an interest, to execute, acknowledge and deliver all instruments and documents necessary to effect such recalculation of Percentage Interests as herein provided.
Each Funding Member shall be given written notice of any Additional Capital Contribution required by the Member directing such Additional Capital Contribution to be made at least 20 Business Days prior to the date on which such Additional Capital Contribution is required to be made.
For purposes hereof, the “Excess Amount” shall mean (i) the total Necessary Cost Capital Contribution funded by the Funding Member (reduced by any amount reimbursed to the Funding Member under Section 3.7(c)(i)), minus (i) the Equity Portion.