Examples of Supplemental Capital Contribution in a sentence
The approved amount shall be funded within ten (10) days of written notice from the Manager (after the amount is approved as a Major Decision) and shall be treated as a Supplemental Capital Contribution for each funding Member for all purposes under this Agreement.
All “Contribution Loans” and “New Partner Loans” (as those terms are defined in the Prior Agreement) outstanding as of the Effective Date shall be paid on the same terms applicable to Capital Contribution Obligations as set forth in Section 3.7.2 above; provided, that no Supplemental Capital Contribution Amounts will accrue with respect to Contribution Loans.
In approving the Major Decision, MCG and the Keystone Investor shall indicate the portion of such Supplemental Capital Contribution that each shall fund (provided, that each shall have the right to fund fifty percent (50%) of such Supplemental Capital Contribution and if one of them does not desire to fund its pro rata share of the Supplemental Capital Contribution, the other may fund the remainder).
The Capital Contribution of such New Limited Partner shall be paid upon admission in cash, provided, that upon mutual agreement of such New Limited Partner and the General Partner, such New Limited Partner may contribute its Capital Contribution over time together with the Supplemental Capital Contribution Amounts accrued thereon (such payments collectively referred to as a “Capital Contribution Obligation”) or in an alternative manner approved by the General Partner in its sole discretion.
When the Manager and Members have reached a decision on whether to approve the funding of the Supplemental Capital Contribution and the percentage that each Member would fund, the Manager shall issue a capital call for such amount in accordance with Section 6.2.
To the extent not inconsistent with such rules, the following provisions shall apply: The Capital Account of each Partner shall be credited with (i) each Partner's Capital Contribution and Supplemental Capital Contribution and (ii) such Partner's share of Net Income and Gain from a Capital Transaction (or items thereof).
Notwithstanding anything to the contrary contained in this Agreement, the decision whether or not to fund the Supplemental Capital Contribution shall be in the sole and absolute discretion of Preferred Member.
The General Partner’s Supplemental Capital Contribution shall be apportioned as between Limited and General Partnership Interests in the amounts of $504,000 and $160,000, respectively.
Any requirement to make a Supplemental Capital Contribution shall be imposed upon the Members pro rata based upon their respective Capital Accounts at the time in question, except to the extent that all Members agree to the contrary.
After the Initial Capital Contributions have been made in full, the Manager may direct from time to time that one or more supplemental capital contributions (individually, a "Supplemental Capital Contribution") be made.