Common use of Effect of Contributions Clause in Contracts

Effect of Contributions. In exchange for its transfer of the Assets to the Venture as provided herein on the Contribution Date, (i) Contributing Member shall become a Member in the Venture pursuant to the terms of the Venture Agreement; (ii) Contributing Member shall receive the Sharing Percentage in the Venture as set forth in Schedule A to the Venture Agreement; (iii) the Capital Account of Contributing Member shall be credited with such amount set forth beside its name in Schedule A of the Venture Agreement; and (iv) Blackstone Member and Contributing Member shall cause the Venture to apply and distribute the Cash Contribution and the Deposit in accordance with the terms of the Venture Agreement.

Effect of Contributions. In exchange for its transfer of the Assets to the Venture as provided herein on the Contribution Date, (ia) Contributing Member shall become a Member in the Venture pursuant to the terms of the Venture Agreement; (iib) Contributing Member shall receive the Sharing Percentage in the Venture as set forth in Schedule A to the Venture Agreement; (iiic) the Capital Account of Contributing Member shall be credited with such amount set forth beside its name in Schedule A of the Venture Agreement; and (ivd) Blackstone Member and Contributing Member shall cause the Venture to apply and distribute the Cash Contribution and the Deposit in accordance with the terms of the Venture Agreement.