Discretionary Loans to the Partnership. (a) FF&E and Capital Improvement Loans. In lieu of additional capital contributions pursuant to Section 3.5, the Company shall have the right, in its sole and absolute discretion, to cause the Partnership to obtain a loan of such funds as are necessary for the furniture, fixture and equipment package for any Restaurant (“FF&E Loan”) or for capital improvements to any Restaurant (“Capital Improvement Loans”). The Company shall also have the right to obtain additional FF&E Loans or Capital Improvement Loans from time to time, as determined by the Company in its sole discretion. Any FF&E Loans or Capital Improvement Loans shall bear interest at a rate, and shall have repayment terms, as the Company shall reasonably determine. The Company shall have the right, in its sole discretion and without the consent of the other Partners, to be the lender to the Partnership of the FF&E Loan and any Capital Improvement Loan.
Appears in 18 contracts
Samples: Carrabba's/Colorado-I, Limited Partnership, Carrabba's/Colorado-I, Limited Partnership, Carrabba's/Colorado-I, Limited Partnership
