Common use of Advances by Members Clause in Contracts

Advances by Members. In the event the Company requires additional funds, with the approval of the Managing Member and subject to the terms and conditions determined by the Managing Member, any or all of the Members may (but will have no obligation to) advance all or part of the needed funds to or on behalf of the Company, which advances (a) will constitute a loan from such Member to the Company, (b) will bear interest and be subject to such other terms and conditions as agreed between such Member and the Company, and (c) unless otherwise determined by the Managing Member, will not be deemed to be a Capital Contribution by such Member to the Company.

Advances by Members. In the event the Company requires additional funds, with the approval of the Managing Member Steering Committee and subject to the terms and conditions determined by the Managing MemberSteering Committee, any or all of the Members may (but will have no obligation to) advance all or part of the needed funds to or on behalf of the Company, which advances (a) will constitute a loan from such Member to the Company, (b) will bear interest and be subject to such other terms and conditions as agreed between such Member and the Company, and (c) unless otherwise determined by the Managing MemberSteering Committee, will not be deemed to be a Capital Contribution by such Member to the Company.