Loans By or To Member. The Member or the Manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, and transact other business with, the Company on such terms and conditions as the Company and the Member or the Manager, as the case may be, shall agree. The Member shall not be permitted to make a loan upon the security of the Company’s property if, at the time said secured loan is made, the assets of the Company are not sufficient to discharge the Company’s debts and liabilities to Persons not claiming as Members.
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.), Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.), Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.)
Loans By or To Member. The Member or the a Manager may lend money to, borrow money from, act as a surety, guarantor or endorser for, and transact other business with, the Company on such terms and conditions as the Company and the Member or the Manager, as the case may be, shall agree. The Member shall not be permitted to make a loan upon the security of the Company’s property if, at the time said secured loan is made, the assets of the Company are not sufficient to discharge the Company’s debts and liabilities to Persons not claiming as Members.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Fisher Broadcasting - Seattle Radio, L.L.C.)
