Loans to Partners Sample Clauses

Loans to Partners. Upon the request of a Partner, the Partnership shall have the power, in the sole discretion of the General Partner, to loan to such requesting Partner an amount up to 25% of his Opening Capital Account balance. Each such loan shall be repayable in full at the end of the Fiscal Year in which it is made and shall be secured by the interest of the Partner in the Partnership. If the Partnership incurs indebtedness to provide such loan, the loan shall bear interest at 200 basis points in excess of the Partnership's cost of funds; if the Partnership does not incur indebtedness to provide the loan, the loan shall bear interest at 200 basis points over the Applicable Rate. The General Partner may, from time to time, adjust the margin and the base on which the interest rate for any loan under this paragraph is determined (provided that such adjustment shall not affect the interest rate on outstanding loans). All out-of-pocket expenses incurred by the General Partner or the Partnership in connection with any loan made pursuant to this paragraph 7.7 shall be paid by the Partner to whom such loan is made.
Sample 1
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Loans to Partners. 19 Section 4.6. Withholding..........................................20 ARTICLE V. WITHDRAWAL, DEATH, INCOMPETENCY............................20 Section 5.1. Withdrawal of Partners...............................20 Section 5.2. Effect of Withdrawal, Death, Etc.....................20
Sample 1
Loans to Partners. If the Partnership has cash available in excess of its needs for working capital and for which it has no current reinvestment plans, it shall, upon the request of a Partner, make a loan to such Partner in an amount not to exceed such Partner's Rollover Commitment Account; provided that prior to making a Partner Loan, the Partnership shall have received security for such loan in the form of an irrevocable letter of credit drawn on a nationally recognized financial institution issued on behalf of the Partner requesting such Partner Loan. Any Partner Loan shall be in the form of a demand note, callable by the Majority General Partners, and shall bear interest at the 90-day London Inter-Bank Offering Rate (LIBOR) as announced from time to time by BankAmerica, N.A.
Sample 1
Loans to Partners. The Partnership shall not make any loans to any Partner or to any other Persons without the consent of the General Partners or, if the loan is to a General Partner or an Affiliate of a General Partner, without the consent of the other General Partner.
Sample 1

Related to Loans to Partners

  • Loans to Participants If the Adoption Agreement so indicates, a Participant may receive a loan from the Fund, subject to the following rules:

  • Loans from Partners Loans by a Partner to the Partnership shall not constitute Capital Contributions. If any Partner shall advance funds to the Partnership in excess of the amounts required hereunder to be contributed by it to the capital of the Partnership, the making of such excess advances shall not result in any increase in the amount of the Capital Account of such Partner. The amount of any such excess advances shall be a debt obligation of the Partnership to such Partner and shall be payable or collectible only out of the Partnership assets in accordance with the terms and conditions upon which such advances are made.

  • Subordinated Loans to FINRA Members To the Company’s knowledge, no Company Affiliate has made a subordinated loan to any Member.

  • Loans to Company Nothing in this Agreement shall prevent any Member from making secured or unsecured loans to the Company by agreement with the Company.

  • Loans From Members Loans by Members to the Company shall not be considered Capital Contributions. Subject to the provisions of Section 3.01(c), the amount of any such advances 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 such advances are made.

  • Loans to Directors or Officers There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees or indebtedness by the Company or its Subsidiaries to or for the benefit of any of the officers or directors of the Company, its Subsidiaries or any of their respective family members, except as disclosed in the Registration Statement, the Pricing Disclosure Package and the Prospectus.

  • Members Capital Contributions (a) Initial Capital Contribution. The initial Capital Contribution described on Schedule 1 (the “Property”) was made by the previous Member.

  • Subsequent Capital Contributions Without creating any rights in favor of any third party, each Member shall contribute to the Company, in cash, on or before the date specified as hereinafter described, that Member's Sharing Ratio of all monies that in the unanimous judgment of the Management Committee are necessary to enable the Company to acquire the Project from the Seller and to cause the assets of the Company to be properly operated and maintained and to discharge its costs, expenses, obligations, and liabilities, including without limitation its Sharing Ratio of the purchase price set forth in the Asset Sale Agreement, and its Sharing Ratio of Working Capital Requirements in order to bring current Company bank accounts to an amount equal to the Working Capital Requirements, as more particularly described in Section 5.01 below. The Management Committee shall notify each other Member of the need for Capital Contributions pursuant to this Section 4.02 when appropriate, which notice must include a statement in reasonable detail of the proposed uses of the Capital Contributions and a date (which date may be no earlier than the fifth Business Day following each Member's receipt of its notice) before which the Capital Contributions must be made. Notices for Capital Contributions must be made to all Members in accordance with their Sharing Ratios.

  • General Partner Participation The General Partner agrees that all business activities of the General Partner, including activities pertaining to the acquisition, development or ownership of any Asset shall be conducted through the Partnership or one or more Subsidiary Partnerships; provided, however, that the General Partner is allowed to make a direct acquisition, but if and only if, such acquisition is made in connection with the issuance of Additional Securities, which direct acquisition and issuance have been approved and determined to be in the best interests of the General Partner and the Partnership by a majority of the Independent Directors.

  • Loans; Investments Make or suffer to exist any loans, guaranties, advances, or investments, except:

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