Common use of Contribution Loans Clause in Contracts

Contribution Loans. 1. If either Partner (a "Non-Contributing Partner") fails to make any additional capital contribution within the time specified in SECTION 6.4(A) and such failure continues for a period of thirty (30) days after an Initial Uncured Default, the other Partner who makes the requested contribution of additional capital (the "Contributing Partner") shall have the right but not the obligation to advance directly to the Partnership the funds required from the Non-Contributing Partner as a loan ("Contribution Loan") to the Non-Contributing Partner. If and when a Contribution Loan is made, the Non-Contributing Partner shall be deemed to have waived the right to make the requested capital contribution as of the date of such loan. Such Contribution Loan shall bear interest, compounded annually, at a rate equal to the Prime Rate plus four (4) percentage points per annum. Contribution Loans may be prepaid by the Non-Contributing Partner at any time after the date the Contribution Loan is made. If not repaid by the Non-Contributing Partner, the Contribution Loan shall be repaid pursuant to SECTION 6.4(C) or other applicable provisions of this Agreement, but otherwise shall be and remain a recourse obligation of the Non-Contributing Partner.

Contribution Loans. 1. (a) If either Partner Member (a "Non-Contributing PartnerMember") fails to make any additional capital contribution within the time specified in SECTION 6.4(A) Section 5.4.2 and such failure continues for a period of thirty (30) days after an Initial Uncured Default, the other Partner Member who makes the requested contribution of additional capital (the "Contributing PartnerMember") shall have the right but not the obligation to advance directly to the Partnership Company the funds required from the Non-Contributing Partner Member as a loan ("Contribution Loan") to the Non-Contributing PartnerMember. If and when a Contribution Loan is made, the Non-Contributing Partner Member shall be deemed to have waived the right to make the requested capital contribution as of the date of such loan. Such Contribution Loan shall bear interest, compounded annually, at a rate equal to the Prime Rate plus four (4) percentage points per annum. Contribution Loans may be prepaid by the Non-Contributing Partner Member at any time after the date the Contribution Loan is made. If not repaid by the Non-Contributing PartnerMember, the Contribution Loan shall be repaid pursuant to SECTION 6.4(C) Section 5.4.5 or other applicable provisions of this Agreement, but otherwise shall be and remain a recourse obligation of the Non-Non- Contributing PartnerMember.

Contribution Loans. 1. (i) If either Partner Member (a "Non-Contributing PartnerMember") fails to make any additional capital contribution within the time specified in SECTION 6.4(A5.4(b) and such failure continues for a period of thirty (30) days after an Initial Uncured Default, the other Partner Member who makes the requested contribution of additional capital (the "Contributing PartnerMember") shall have the right but not the obligation to advance directly to the Partnership Company the funds required from the Non-Contributing Partner Member as a loan ("Contribution Loan") to the Non-Contributing PartnerMember. If and when a Contribution Loan is made, the Non-Contributing Partner Member shall be deemed to have waived the right to make the requested capital contribution as of the date of such loan. Such Contribution Loan shall bear interest, compounded annually, at a rate equal to the Prime Rate plus four (4) percentage points per annum. Contribution Loans may be prepaid by the Non-Contributing Partner Member at any time after the date the Contribution Loan is made. If not repaid by the Non-Contributing PartnerMember, the Contribution Loan shall be repaid pursuant to SECTION 6.4(C5.4(F) or other applicable provisions of this Agreement, but otherwise shall be and remain a recourse obligation of the Non-Contributing PartnerMember.