Loans From Members. Loans by Members to the Company shall not be considered contributions to the capital of the Company hereunder. If any Member shall advance funds to the Company in excess of the amounts required to be contributed to the capital of the Company, the making of such advances shall not result in any increase in the amount of the Capital Account of such Member and shall be payable or collectible in accordance with the terms and conditions upon which advances are made; provided that the terms of any such loan shall not be less favorable to the Company, taken as a whole, than would be available to the Company from unrelated lenders and such loan shall be approved by the Board.
Appears in 9 contracts
Samples: Joinder (New Mountain Finance AIV Holdings Corp), Limited Liability Company Agreement (New Mountain Finance AIV Holdings Corp), Joinder (New Mountain Finance Holdings, L.L.C.)
Loans From Members. Loans by Members to the Company shall not be considered contributions to the capital of the Company hereunder. If any Member shall advance funds to the Company in excess of the amounts required to be contributed to the capital of the Company, the making of such advances shall not result in any increase in the amount of the Capital Account of such Member and shall be payable or collectible in accordance with the terms and conditions upon which advances are made; provided that the terms of any such loan shall not be less favorable to the Company, taken as a whole, than would be available to the Company from unrelated lenders and such loan shall be approved by the BoardManager.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Cloud Peak Energy Inc.), Limited Liability Company Agreement (Cloud Peak Energy Inc.), Limited Liability Company Agreement (Cloud Peak Energy Inc.)
Loans From Members. Loans by Members to the Company shall be subject to the approval of the Board. Loans by Members shall not be considered contributions to the capital of the Company hereunderCapital Contributions. If any Member shall advance loan funds to the Company in excess of the amounts required hereunder to be contributed by such Member to the capital of the Company, the making of such advances loans shall not result in any increase in the amount of the Capital Account of such Member. The amount of any such loans shall be a debt of the Company to such Member and shall be payable or collectible in accordance with the terms and conditions upon which advances are made; provided that the terms of any such loan shall not be less favorable to the Company, taken as a whole, than would be available to the Company from unrelated lenders and such loan shall be approved by the Board.payable
Appears in 1 contract
Samples: Limited Liability Company Agreement
