Contributions of Capital Sample Clauses
The "Contributions of Capital" clause defines the obligations and procedures for parties to provide financial or other resources to a business or partnership. It typically outlines how much each party must contribute, the form these contributions may take (such as cash, property, or services), and the timing or conditions under which contributions are made. This clause ensures that the entity is properly funded and clarifies each party's responsibilities, thereby preventing disputes over funding and supporting the ongoing operations of the business.
Contributions of Capital. The members have agreed on the following schedule for contribution of initial capital to the Company: on or before August 1, 1999, the balance from each member of its respective required capital contribution.
Contributions of Capital. 4.1 All Capital to be contributed by the General Partner and the Limited Partners shall be made available in cash.
4.2 The initial capital to be contributed by each Partner, General and Limited, shall be the amount of [AMOUNT]
4.3 Each partner shall be personally liable to the Partnership for the full amount of his or her initial capital contribution.
4.4 The Limited Partners shall be required to make additional capital contributions to the Partnership, on written request by the General Partner, the Partner's pro rata share (the ownership percentage set opposite the name of each Limited and General Partner in Appendix "A") of all costs, expenses, or charges with respect to the operation of the Partnership and the ownership operation, maintenance, and upkeep of any Partnership property including but not limited to ad valorem taxes, debt amortisation (including interest payments), insurance premiums, repairs, professional fees, wages, and utility costs] to the extent such costs, expenses, or charges exceed the income, if any, derived from the Partnership and the proceeds of any loans made to the Partnership.
4.4.1 If any Partner fails or refuses to contribute the entire amount of the initial capital called for and/or the additional capital as called for, the General Partner shall be authorised to declare forfeited Partner's capital account and ownership interest as liquidated damages for the failure.
Contributions of Capital a. The Company's initial capital shall consist of the contribution by the Members as described by the following:
i. NDS will contribute output from its CityNet web site exclusively to the Site, a file server with sufficient capacity, an Internet line connection of sufficient capacity (T1 or greater) and 300,000 shares of NDS common stock.
ii. FINET will contribute output from its iQualify web site or any other Finet controlled site which markets the "Desktop Underwriter Program", which is the multi lender platform for loan approval provided through Fannie Mae.
iii. Each Member agrees to diligently do all acts necessary to transfer the above described contributions, as may be reasonably required to carry out the intent and purpose of this Agreement.
b. The respective initial ownership interest in the Company shall be:
i. NDS shall own 50% of the Company; and,
ii. FINET shall own 50% of the Company.
c. Except as is otherwise provided herein, no Member may withdraw any portion of the capital of the Company and no Member shall be entitled to the return of that member's contribution to the capital of the Company except upon dissolution of the Company or the withdrawal of that Member from the Company in accordance with the terms and conditions described herein.
d. Additional contributions of capital by the Members shall be determined upon the mutual consent of the Members. Upon approval of additional contribution to capital, the contribution shall be given within thirty (30) days after the determination by the mutual consent of the Members. If within the time period provided, any Member fails to make his additional capital contribution, as was mutually agreed upon, the other Member may, within a period of thirty (30) days after the end of the time the contribution was due, either:
i. Make an additional capital contribution in a sum equal to that which the defaulting Member was required to make, in which case the Members' capital and income accounts shall be adjusted accordingly, or
ii. Cause the Company to be dissolved.
e. Except as otherwise provided herein, the capital of the Company may be contributed in the form of cash, personal property, equipment, personal services rendered or in any other manner which in the general course of business affairs is recognized as representing valid legal consideration and is mutually agreed upon by the Members. Upon establishment of the Company's Site to the mutual satisfaction of the Members, the initial capital accounts of...
Contributions of Capital. 4.1 Each of the Partners has contributed to the Partnership all of his or her undivided right, title, and interest in and to a house and lot known as Drive, situate in Township, County, State of , with all the improvements located thereon (such property will be referred to herein as the "XXX Property").
4.2 The Partners may make additional capital contributions to the Partnership, whether in the form of cash or interests in property, real or personal, but they will not be required to do so unless all the Partners by unanimous written consent agree to make such additional contributions. Any additional contributions of capital made by the Partners will be described in the books and records of the Partnership.
4.3 Neither the Partnership nor any Partner will be subject to or assume any liability for any indebtedness, in the form of a mortgage note or otherwise, as to any property transferred by a Partner to the Partnership for himself or on behalf of the Partners, and the Partner making such transfer hereby agrees to indemnify and hold harmless all other Partners for any proportionate amount required to be paid by the Partnership or such other Partners in connection with such indebtedness, including costs and attorney's fees.
Contributions of Capital. Electro has made the contributions to the capital of the Company, subject to the Company's assumptions of certain liabilities of Electro, all as set forth on Exhibit B attached hereto. Scho▇▇ ▇▇▇ acquired from Electro, 49% of Electro's capital account as of the date hereof (prior to the contribution of $300,000 by Electro as contemplated by Section 1.9(a) of the Joint Venture Formation Agreement) and will acquire an additional 1% of Electro's capital account upon the exercise of the Option.
Contributions of Capital