Common use of Loans by Partners Clause in Contracts

Loans by Partners. Subject to obtaining any approvals required under this Agreement for the Partnership to borrow funds, any Partner may (but shall not be obligated to) at any time, upon obtaining the consent of the General Partner and a Majority in Interest of the Limited Partners, loan money to the Partnership to finance Partnership operations, to pay the debts and obligations of the Partnership, or for any other Partnership purpose. If any Partner lends funds to the Partnership, such Partner shall be entitled to receive interest on such loan at an interest rate to be agreed upon by such Partner and each of the Partners.

Loans by Partners. Subject to obtaining any approvals required under this Agreement for the Partnership to borrow funds, any Partner may (but shall not be obligated to) at any time, upon obtaining the consent of the General Partner and a Majority in Interest each of the Limited Partners, loan money to the Partnership to finance Partnership operations, to pay the debts and obligations of the Partnership, or for any other Partnership purpose. If any Partner lends funds to the Partnership, such Partner shall be entitled to receive interest on such loan at an interest rate to be agreed upon by such Partner and each of the Partners.