Funding Capital Requirements. (a) In the event that the Company requires additional funds to carry out its purposes, to conduct its business, or to meet its obligations, the Company may borrow funds not to exceed $250,000 from such lender(s), including Members, on such terms and conditions as are approved by the Board of Managers, all on such terms as reflect fair market value. Any borrowing of funds exceeding $250,000 shall require Supermajority Approval of the Board. It is specifically provided that no such terms or conditions shall impose any personal liability on any Member without the prior written consent of such Member.
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
