Loans to the Company. The amount of a loan, if any, made to the Company by a Member shall not be considered a contribution to capital of the Company nor shall the making of such loan entitle such Member to an increased share of the profits or losses to be made pursuant to the provisions of this Agreement. All such loans shall be documented by a promissory note of the company and shall bear interest at the rate, and be subject to the other terms, agreed to by the lending Member and the Members.
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Samples: Operating Agreement (Spanco Industries, Inc.), Operating Agreement (Spanco Industries, Inc.), Operating Agreement (Spanco Industries, Inc.)
Loans to the Company. The amount of a loan, if any, made to the Company by a Member Member(s) shall not be considered a contribution to capital of the Company nor shall the making of such loan entitle such Member Member(s) to an increased share of the profits or losses to be made pursuant to the provisions of this Agreement. All such loans shall be documented by a promissory note of the company Company and shall bear interest at the rate, and be subject to the other terms, agreed to by the lending Member and the MembersMember(s).
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Lorillard, LLC), Limited Liability Company Agreement (RJR Packaging, LLC), Limited Liability Company Agreement (RJR Packaging, LLC)
Loans to the Company. The amount of a loan, if any, made to the Company by a Member shall not be considered a contribution to capital of the Company nor shall the making of such loan entitle such Member to an increased share of the profits or losses to be made pursuant to the provisions of this AgreementCompany. All such loans shall be documented by a promissory note of the company Company and shall bear bar interest at the rate, and be subject to the other terms, agreed to by the lending Member and the Members.
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