Loans by Members. A Member may at any time lend funds to the Company as may be agreed upon by the Board of Managers. Such funds shall represent a debt, payable on demand, unless otherwise specifically provided, from the Company to the Member making the loan, and interest, at a rate agreed upon by the Board of Managers, shall be paid thereon and charged as an expense to the Company.
Appears in 4 contracts
Samples: Operating Agreement (Liquidmetal Technologies Inc), Asset Purchase and Contribution Agreement (Liquidmetal Technologies Inc), Operating Agreement (Liquidmetal Technologies Inc)
