Loans From Holders. Loans by Holders to the Company shall not be considered Capital Contributions. If any Holder shall loan funds to the Company in excess of the amounts required hereunder to be contributed by such Holder to the capital of the Company, the making of such loans shall not result in any increase in the amount of the Capital Account of such Holder. The amount of any such loans shall be a debt of the Company to such Holder and shall be payable or collectible in accordance with the terms and conditions upon which such loans are made.
Appears in 19 contracts
Samples: Operating Agreement, Operating Agreement (Stack Rock Capital, L.L.C.), Operating Agreement (Officemax Inc)
Loans From Holders. Loans by Holders to the Company shall not be considered Capital Contributions. If any Holder shall loan advance funds to the Company in excess of the amounts required hereunder to be contributed by such Holder to the capital of the Company, the making of such loans advances shall not result in any increase in the amount of the Capital Account of such Holder. The amount of any such loans advances shall be a debt of the Company to such Holder and shall be payable or collectible in accordance with the terms and conditions upon which such loans advances are made.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Heartland Technology Inc)
