Common use of Advances by Members Clause in Contracts

Advances by Members. If the Company does not have sufficient cash to pay its obligations or is otherwise in need of working capital, any Member that may agree to do so may advance all or part of the needed funds to or on behalf of the Company. In the absence of any written agreement to the contrary, an advance described in this Section 4.3 shall constitute a loan from the Member to the Company and shall bear interest from the date of the advance until the date of payment at a rate per annum agreed to by the Members and such Member and shall not constitute a part of such Member's Capital Contribution.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Noble Midstream Partners LP), Limited Liability Company Agreement (Noble Midstream Partners LP), Limited Liability Company Agreement (Noble Midstream Partners LP)

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Advances by Members. If the Company does not have sufficient cash to pay its obligations or is otherwise in need of working capital, any Member that may agree agrees to do so with the Managers’ consent may advance all or part of the needed funds to or on behalf of the Company. In the absence of any written agreement to the contrary, an An advance described in this Section 4.3 shall constitute constitutes a loan from the Member to the Company and and, unless otherwise agreed, shall bear interest from the date of the advance until the date of payment at a rate per annum agreed equal to by the Members and such Member Prime Rate at the date of the advance and shall not constitute a part of such Member's ’s Capital Contribution.

Appears in 4 contracts

Samples: Operating Agreement (Pacific Custom Materials Inc), Operating Agreement (American Materials Transport, Inc.), Operating Agreement (American Materials Transport, Inc.)

Advances by Members. If the Company does not have sufficient cash to pay its obligations or is otherwise in need of working capitalobligations, any Member Member(s) that may agree to do so with the consent of the Managers may advance all or part of the needed funds to or on behalf of the Company, at such interest rate and on such other terms as such Member and the Managers may agree. In the absence of any written agreement to the contrary, an An advance described in this Section 4.3 shall constitute 3.05 constitutes a loan from the Member to the Company and shall bear interest from the date of the advance until the date of payment at is not a rate per annum agreed to by the Members and such Member and shall not constitute a part of such Member's Capital Contribution.

Appears in 2 contracts

Samples: Operating Agreement (Amen Properties Inc), Operating Agreement (Amen Properties Inc)

Advances by Members. If the Company does not have sufficient cash to pay its obligations or is otherwise in need of working capitalobligations, any Member Member(s) that may agree to do so may advance all or part of the needed funds to or on behalf of the CompanyCompany if Member Consent is obtained. In the absence of any written agreement to the contrary, an An advance described in this Section 4.3 shall constitute 5.4 constitutes a loan from the Member to the Company and shall bear Company, bears interest at the Prime Rate from the date of the advance until the date of payment at repayment, and is not a rate per annum agreed to by the Members and such Member and shall not constitute a part of such Member's Capital Contributioncapital contribution.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Dorchester Minerals Lp), Contribution Agreement (Dorchester Minerals Lp)

Advances by Members. If the Company does not have sufficient cash to pay its obligations or is otherwise in need of working capital, any Member that may agree to do so may advance all or part of the needed funds to or on behalf of the Company. In the absence of any written agreement to the contrary, an advance described in this Section 4.3 shall constitute a loan from the Member to the Company and shall bear interest from the date of the advance until the date of payment at a rate per annum agreed to by the Members Managers and such Member and shall not constitute a part of such Member's ’s Capital Contribution.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Clayton Williams Energy Inc /De), Limited Liability Company Agreement (NBL Texas, LLC)

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Advances by Members. If the Company does not have sufficient cash to pay its obligations or is otherwise in need of working capitalobligations, any Member that may agree to do so so, with the consent of the Manager, may advance all or part of the needed funds to or on behalf of the Company, at such interest rate and on such other terms as such Member and the Manager may agree. In the absence of any written agreement to the contrary, an An advance described in this Section 4.3 shall constitute 4.5 constitutes a loan from the Member to the Company and shall bear interest from the date of the advance until the date of payment at is not a rate per annum agreed to by the Members and such Member and shall not constitute a part of such Member's Capital Contribution.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Advances by Members. If the Company does not have sufficient cash to pay its obligations or is otherwise in need of working capitalobligations, any Member member(s) that may agree to do so with the Members' consent may advance all ail or part of the needed funds to or on behalf of the Company. In the absence of any written agreement to the contrary, an An advance described in this Section 4.3 shall constitute be a loan from the Member to the Company and shall Company, bear interest at the General Interest Rate from the date of the advance until the date of payment at a rate per annum agreed to by the Members and such Member payment, and shall not constitute be a part of such Member's Capital Contribution.

Appears in 1 contract

Samples: Operating Agreement (TB Wood's INC)

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