Loans from Members to Company. Subject to any other restrictions contained herein, the Company may borrow money from one or more Members or Affiliates of Members at such interest rate or rates and upon such other terms as are agreed upon by the Company and the lending Member; provided that the interest rates on any such loans may not exceed the rates that would apply to Company borrowing on similar terms from recognized banks or financial institutions and the terms are otherwise similar to those terms that would be expected to be achieved in an arms-length transaction, in each case as determined in good faith by the Board.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Innovative Payment Solutions, Inc.), Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Mascoma Corp)
