Advances by Members. If the Company does not have sufficient cash to pay its obligations, any Member(s) that may agree to do so with the Managers' written consent may advance all or part of the needed funds to or on behalf of the Company. Any advance described in this Section 4.4 constitutes a loan from the Member to the Company, bears interest at the General Interest Rate from the date of the advance until the date of payment, and is not a Capital Contribution. No such advance may be made by a Manager without the written consent of all Members.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Kaiser Texas Sierra Micromills LLC), Limited Liability Company Agreement (Kaiser Texas Sierra Micromills LLC)
Advances by Members. If the Company does not have sufficient cash to pay its obligations, any Member(s) that may agree to do so with the Managers' written consent may advance all or part of the needed funds to or on behalf of the Company. Any An advance described in this Section 4.4 4.05 constitutes a loan from the Member to the Company, bears interest at the General Interest Rate from the date of the advance until the date of payment, and is not a Capital Contribution. No such advance may be made by a Manager without the written consent of all Members.
Appears in 1 contract
Samples: Operating Agreement (Ashton Houston Residential L.L.C.)
Advances by Members. If the Company does not have sufficient cash to pay its obligations, any Member(s) that may agree agrees to do so so, with the Managers' written consent consent, may advance all or part of the needed funds to or on behalf of the Company. Any An advance described in this Section 4.4 constitutes a loan from the Member to the Company, bears interest at the General Interest Rate from the date of the advance until the date of payment, and is not a Capital Contribution. No such advance may be made by a Manager without the written consent of all Members.
Appears in 1 contract
