Loans and Other Transactions with the Company. With the express prior approval of a Super-Majority of the Management Committee, a Member may loan money to the Company on terms and conditions so approved. No such loan shall constitute a Capital Contribution or increase the Percentage Interest of the lending Member. Notwithstanding the foregoing, following an Event of Default, the Management Committee acting in accordance with Section 6.2.2 shall have the authority to approve such a loan, so long as such loan contains terms and conditions representative of an arm’s-length transaction.
Appears in 4 contracts
Samples: Membership Interest Purchase Agreement (Nutracea), Limited Liability Company Agreement (Nutracea), Limited Liability Company Agreement (RiceBran Technologies)
