Common use of Manager Advances Clause in Contracts

Manager Advances. The Manager may, but is not required to, loan its own funds or defer reimbursement of its out of pocket expenses as an Advance. The Company shall reimburse the manager for any such Advance from the date of the loan or deferral as soon as is practical together with the simple annualized interest at ten percent (10%). Interests on Manager Advances shall be an expense of the Company when paid and shall accrue from the date of inception for a Manager loan, or from the date reimbursement was due for any Advance related to a deferred reimbursement.

Appears in 8 contracts

Samples: Company Operating Agreement (Gilmore Homes - Gilmore Loans, LLC), Company Operating Agreement (Gilmore Homes - Gilmore Loans, LLC), Company Operating Agreement (Gilmore Homes - Gilmore Loans, LLC)

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Manager Advances. The Manager may, but is not required to, to loan its own funds or defer reimbursement of its out of out-of-pocket expenses as an Advance. The Company shall reimburse the manager Manager for any such Advance from the date of the loan or deferral as soon as is practical together with the simple annualized interest at ten percent (10%). Interests Interest on Manager Advances shall be an expense of the Company when paid and shall accrue from the date of inception for a Manager loan, or from the date reimbursement was due for any Advance related to a deferred reimbursement.

Appears in 8 contracts

Samples: Operating Agreement, Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC)

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Manager Advances. The Manager may, ; but is not required to, to loan its own funds or defer reimbursement of its out of out-of-pocket expenses as an Advance. The Company shall reimburse the manager Manager for any such Advance from the date of the loan or deferral as soon as is practical together with the simple annualized interest at ten percent (10%). Interests Interest on Manager Advances shall be an expense of the Company when paid and shall accrue from the date of inception for a Manager loan, or from the date reimbursement was due for any Advance related to a deferred reimbursement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Mission First Capital LLC), Limited Liability Company Agreement (Mission First Capital LLC), Limited Liability Company Agreement (Mission First Capital LLC)

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