Loans From Shareholders Sample Clauses

Loans From Shareholders. Loans by a Shareholder to the Company shall not constitute Capital Contributions. If any Shareholder shall advance funds to the Company (other than funds to purchase Member Interests), then the making of such excess advances shall not result in any increase in the amount of the Capital Account of such Shareholder. The amount of any such excess advances shall be a debt obligation of the Company to such Shareholder 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.
Sample 1Sample 2
AutoNDA by SimpleDocs
Loans From Shareholders. The obligations to each of Xxxx Xxxxxxx, M.D. in the principal amount of $680,820.58 and Xxxxxxxx Xxxxxxxx in the principal amount of $100,000; provided, however, that the such obligations shall be amended and restated in the form of the Subordinated Promissory Note attached hereto as Exhibit B (the “Note”). At the Closing, Buyer shall execute a Note in favor of each of Xx. Xxxxxxx and Xx. Xxxxxxxx in the principal amount set forth above.
Sample 1Sample 2
Loans From Shareholders. The Company may from time to time borrow funds from Shareholders on such terms and conditions deemed acceptable by the Board of Managers. Loans by Shareholders to the Company shall not be considered Consideration for a Unit or any other type of special or unique consideration. The amount of such loans shall be a debt of the Company to such Shareholder and shall be payable or collectable in accordance with the terms and conditions upon which such loans are made.
Sample 1Sample 2
Loans From Shareholders. The Board may, from time to time make a written request to the Shareholders for a Shareholder Loan. The Board’s request for Shareholder Loans shall be made to each Shareholder pro rata in proportion to its shareholdings in the capital of the Corporation. A Shareholder may advance the money requested from it within 15 Business Days of receipt of the written request for the Shareholder Loan but shall not be required to do so. If a Shareholder advances funds to the Corporation pursuant to the terms of this clause 6.1, then the Shareholder shall be entitled to receive interest on the amount advanced by it at a rate equal to the Prime Rate plus 3% per annum, which interest shall be payable monthly on the outstanding balance of such disproportionate Shareholder Loan until that amount is repaid.
Sample 1
Loans From Shareholders. Loans by Shareholders to the LLC shall not be considered Capital Contributions. If any Shareholder shall loan funds to the LLC in excess of the amounts required hereunder to be contributed by such Shareholder to the capital of the LLC, the making of such loans shall not result in any increase in the amount of the Capital Account of such Shareholder. The amount of any such loans shall be a debt of the LLC to such Shareholder and shall be payable or collectible in accordance with the terms and conditions upon which such loans are made; provided, that such terms and conditions are no more favorable to such lending Shareholder than those which would be agreed to in an orderly transaction with a willing, unaffiliated lender in an arm's-length transaction.
Sample 1

Related to Loans From Shareholders

  • Principal Shareholders 5 2.04 Subsidiaries.............................................................................. 6 2.05 Convertible Securities, Options, Etc...................................................... 6 2.06 Authorization and Validity of Agreement................................................... 6 2.07. Validity of Transactions; Absence of Required Consents or Waivers......................... 6 2.08.

  • Distributions to Shareholders (a) The Trustees shall from time to time distribute ratably among the Shareholders of any class of Shares, or any series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, such proportion of the net profits, surplus (including paid-in surplus), capital, or assets held by the Trustees as they may deem proper or as may otherwise be determined in accordance with this Declaration. Any such distribution may be made in cash or property (including without limitation any type of obligations of the Trust or any assets thereof) or Shares of any class or series or any combination thereof, and the Trustees may distribute ratably among the Shareholders of any class of shares or series of any such class, in accordance with the number of outstanding full and fractional Shares of such class or any series of such class, additional Shares of any class or series in such manner, at such times, and on such terms as the Trustees may deem proper or as may otherwise be determined in accordance with this Declaration.

  • The Shareholders Each Shareholder represents and warrants to the Company and the other Shareholders, as of the date of this Agreement, as follows:

  • Shareholder Accounts In connection with the establishment of Shareholder accounts, JHSS shall:

  • Warrant Holders Not Deemed Stockholders No holder of Warrants shall, as such, be entitled to vote or to receive dividends or be deemed the holder of Common Stock that may at any time be issuable upon exercise of such Warrants for any purpose whatsoever, nor shall anything contained herein be construed to confer upon the holder of Warrants, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issue or reclassification of stock, change of par value or change of stock to no par value, consolidation, merger or conveyance or otherwise), or to receive notice of meetings, or to receive dividends or subscription rights, until such Holder shall have exercised such Warrants and been issued shares of Common Stock in accordance with the provisions hereof.

  • Shares of Dissenting Shareholders Notwithstanding anything in this Agreement to the contrary, any issued and outstanding Company Common Shares held by a person who did not vote in favor of the Merger and who complies with all the provisions of the Companies Act concerning the right of holders of Company Common Shares to require appraisal of their Company Common Shares pursuant to Bermuda law (such shareholder, a “Dissenting Shareholder”, and such shares, “Dissenting Shares”) shall not be converted into the right to receive the Merger Consideration as described in Section 2.1(a), but shall be converted into the right to receive such consideration as may be determined to be due to such Dissenting Shareholder pursuant to the procedures set forth in the Companies Act. In the event that a Dissenting Shareholder fails to perfect, effectively withdraws or otherwise waives any right to appraisal, its Company Common Shares shall be deemed to be cancelled and converted as of the Effective Time into the right to receive the Merger Consideration for each such Dissenting Share, without interest. Company shall give Parent (i) prompt notice of (A) any written demands for appraisal of Dissenting Shares or withdrawals of such demands received by Company and (B) to the extent that Company has actual knowledge, any attempted applications to the Supreme Court of Bermuda for appraisal of the fair value of the Dissenting Shares, and (ii) the opportunity to participate in and direct all negotiations and proceedings with respect to any demands for appraisal under the Companies Act. Company shall not, without the prior written consent of Parent, voluntarily make any payment with respect to, or settle, offer to settle or otherwise negotiate, any such demands.

  • Shareholder Loans (a) Each Obligor will procure that prior to any Restricted Person making any Financial Indebtedness (other than Permitted Payments) available to any member of the Borrower Group, such Restricted Person shall enter into a Pledge of Subordinated Shareholder Loans on terms and conditions satisfactory to the Facility Agent and a Security Provider’s Deed of Accession and provides (i) the Facility Agent with such documents and evidence as it may reasonably require as to the power and authority of the Restricted Person to enter into such Pledge of Subordinated Shareholder Loans and Security Provider’s Deed of Accession and that the same constitute valid and legally binding obligations of such Restricted Person enforceable in accordance with their terms subject (to the extent applicable) to substantially similar qualifications to those made in the legal opinions referred to in Schedule 2 (Conditions Precedent Documents); and (ii) notification of such pledge to the relevant member of the Borrower Group.

Time is Money Join Law Insider Premium to draft better contracts faster.