Discretionary Funding Advance. (a) In the event there are insufficient funds in the Collection Account and also insufficient funds in the Working Capital Reserve Account to make Funding Draws with respect to specific Loans (and related Acquired Property), the Manager may, in its discretion, make an advance to the Company (the “Discretionary Funding Advance”), which Discretionary Funding Advance shall be reimbursable (and shall accrue interest as set forth herein) only to the extent used exclusively for the applicable Funding Draws for specified Loans (or related Acquired Property). In no event may Discretionary Funding Advances be used for payment of any Working Capital Expenses other than Funding Draws. The proceeds of Discretionary Funding Advances shall be deposited into the Collection Account for disbursement therefrom for the making of the applicable Funding Draws. All Discretionary Funding Advances, together with a detailed statement of the sources and uses thereof (which shall be broken out by the reimbursable and unreimbursable portions thereof) and description of the allocation to the Loans for which such Discretionary Funding Advance was made, shall be reflected in the Monthly Report with respect to the calendar month during which the relevant Discretionary Funding Advance was made.
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Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
