Examples of Second Capital Contribution in a sentence
Should Yucaipa make such Second Capital Contribution, Yucaipa shall be admitted as an Initial Member (including, for the sake of clarity, as a Member) and all other parties hereto hereby consent to such admission.
By executing this Agreement, Yucaipa agrees, and each other Member acknowledges and accepts, that if Simon does not make any or all of its respective Second Capital Contribution or Third Capital Contribution to the Company, subject to Simon’s Maximum Member Funding Amount, then Yucaipa shall be required to make the amount of such contribution that Simon has not made in the stead of Simon, subject to the same rights and penalties as set forth herein.
The Initial Capital Contribution, the Second Capital Contribution (other than solely with respect to Simon as permitted and provided under Sections 4.3.2, 4.3.3 and 4.3.4).
If any Member fails to timely make all or a portion of any Mandatory Capital Contribution to the Company, whether directly, or in the case of a Second Capital Contribution by Simon or a Third Capital Contribution by Simon, both directly by Simon and indirectly by Yucaipa (a “Funding Default”), such Member will be in default under this Agreement (a “Defaulting Member”).
After satisfaction of all of the conditions set forth below, review and approval by AHF of the items described below, and delivery by Wichita GP to AHF of the Second Payment Certificate, but in no event earlier than October 1, 2023, AHF shall make the Second Capital Contribution in the amount of $1,463,319.00, subject to reduction and withholding as provided in Sections 5.1(c) and 5.4 of this Agreement.
XxXxxx or his wife or children shall own and control, directly or indirectly, a beneficial interest of at least 8.2% in the General Partner for a period of seven years after the Second Capital Contribution Date and (ii) either (x) Xxxxxx X.
Amount of Initial Capital Contribution (due upon acceptance): $ ($1,000 minimum contribution) Amount of Second Capital Contribution (due within 30 days of notice the Following Year): $ (Same amount as Initial Capital Contribution) Xxxxxx Xxxxx, in his capacity as the Manager of the Company, xxxxxx accepts this Xxxxxxx and admits the party or parties identified above as a Member of the Company as of the date written below.
AHF shall have received satisfactory evidence that the Applicable Fraction (as defined in Section 42(c)(1)(B) of the Code) for the Apartment Complex equals or exceeds 40% determined as of the date of the Second Capital Contribution.
Asset Management AgreementNSV Residential LLC is obligated under the terms of Amended and Restated Operating Agreement dated March 24, 2016 between NSV Residential Managing Member LLC and the Investor Members (“Operating Agreement”) to pay the special investment member a $5,000 annual asset management fee commencing in the year of the Second Capital Contribution.
AHF shall have received a certificate from the General Partner that the representations, warranties and covenants in Article 4 and Section 6.18 of this Agreement are true and accurate in all material respects as of the date of the proposed Second Capital Contribution and that the General Partner and the Partnership are not in default of any of their obligations hereunder and under the Project Documents as of the date of the proposed Second Capital Contribution.