Examples of Required Capital Contribution in a sentence
Each Member subject to a Contribution Agreement will, not later than the date specified in the Capital Call Notice, contribute or procure the payment of cash to the Company by wire transfer of immediately available funds, to the bank account of the Company specified in the applicable Capital Call Notice, in an amount equal to the Required Capital Contribution required to be funded by such Member pursuant to the applicable Capital Call Notice.
Without limiting the other remedies set forth in Section 4.4.5 below, any Required Capital Contribution not made by such date will accrue interest at the rate of one percent (1%) per month for the period commencing on the date such payment was due until the day such payment is paid by the applicable Member; provided, however, that such interest payments will not be deemed Capital Contributions.
Any remedy under clause (i) or (ii) shall be exercised within sixty (60) days after the date on which the Required Capital Contribution giving rise to the Defaulted Amount was due.
In addition, in the event that a Member fails to fund any portion of any Required Capital Contribution, such Member shall forfeit its voting rights, if any.
No Member shall be required to make Capital Contributions to the Company in excess of such Member’s Required Capital Contribution and, except as otherwise contemplated herein, no Member shall be permitted to make Capital Contributions to the Company in excess of such Member’s Required Capital Contribution, in either case without the approval of the Board.