Common use of Future Contributions Clause in Contracts

Future Contributions. Members may be required to make additional capital contributions to the Company other than the capital contribution required to be made under Paragraph 3.01 without any Member's prior written consent when directed by the Manager based on his, her or its determination. Subsequent contributions must be in amounts and may be in any type of property as is determined by the Manager. If subsequent contributions are required, Members may make additional Capital Contributions on a pro rata basis in accordance with the Member's Capital Account and in proportion to the Member's Percentage Interest. Upon such determination, the Manager shall give written notice to each Member. Each Member shall have fourteen (14) days from the date such notice is given to contribute his, her or its share of the additional capital to the Company. Each Member shall receive a credit to its Capital Account in the amount of any additional capital which he, she or it contributes to the Company.

Appears in 1 contract

Sources: Operating Agreement (Dover Investments Corp)

Future Contributions. Members may be maybe required to make additional capital contributions to the Company other than the capital contribution required to be made under Paragraph 3.01 without with out any Member's prior written consent when directed by the Manager based on his, her or its determination. Subsequent contributions must be in amounts and may be in any type of property as is determined by the Manager. If subsequent contributions are required, Members may make additional Capital Contributions on a pro rata basis in accordance with the Member's Capital Account and in proportion to the Member's Percentage Interest. Upon such determination, the Manager shall give written notice to each Member. Each Member shall have fourteen (14) days from the date such notice is given to contribute his, her or its share of the additional capital to the Company. Each Member shall receive a credit to its Capital Account in the amount of any additional capital which he, she or it contributes to the Company.

Appears in 1 contract

Sources: Operating Agreement (Dover Investments Corp)

Future Contributions. Members may be maybe required to make additional capital contributions to the Company other than the capital contribution required to be made under Paragraph 3.01 without any Member's prior written consent when directed by the Manager based on his, her or its determination. Subsequent contributions must be in amounts and may be in any type of property as is determined by the Manager. If subsequent contributions are required, Members may make additional Capital Contributions on a pro rata basis in accordance with the Member's Capital Account and in proportion to the Member's Percentage Interest. Upon such determination, the Manager shall give written notice to each Member. Each Member shall have fourteen (14) days from the date such notice is given to contribute his, her or its share of the additional capital to the Company. Each Member shall receive a credit to its Capital Account in the amount of any additional capital which he, she or it contributes to the Company.

Appears in 1 contract

Sources: Operating Agreement (Dover Investments Corp)