Loans from Member. Loans by the Member to the Company shall not constitute Capital Contributions. If the Member shall advance funds to the Company in excess of the amounts required hereunder to be contributed by it to the capital of the Company, the making of such excess advances shall not result in any increase in the amount of the Capital Account of such Member. The amount of any such excess advances shall be a debt obligation of the Company to such Member and shall be payable or collectible only out of the Company assets in accordance with the terms and conditions upon which such advances are made.
Appears in 5 contracts
Samples: Simplification Agreement (Alliance Resource Partners Lp), Simplification Agreement (Alliance Holdings GP, L.P.), Operating Agreement (Alliance Holdings GP, L.P.)
Loans from Member. Loans by the a Member to the Company shall not constitute Capital Contributions. If the any Member shall advance funds to the Company in excess of the amounts required hereunder to be contributed by it to the capital of the Company, the making of such excess advances shall not result in any increase in the amount of the Capital Account of such Member. The amount of any such excess advances shall be a debt obligation of the Company to such Member and shall be payable or collectible only out of the Company assets in accordance with the terms and conditions upon which such advances are made.
Appears in 1 contract
Samples: Operating Agreement (Alliance Resource Partners Lp)
