Common use of Member Compensation; Expenses; Loans Clause in Contracts

Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the Board of Managers, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved, permitted or contemplated by or pursuant to a policy approved by the Board of Managers, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company. (b) Any Member or Affiliate may, if approved in accordance with Section 6.6(f) and to the extent permitted by the Credit Documents, lend or advance money to the Company (it being understood that no such loan or advance shall be deemed to take place in the ordinary course of business). If any Member or Affiliate shall make any such permitted loan or loans to the Company or advance money on its behalf, the amount of any such loan or advance shall not be treated as a contribution to the capital of the Company but shall be a debt due from the Company. Unless otherwise agreed by the lending Member or Affiliate and the Company and approved in accordance with Section 6.6, the amount of any such loan or advance by a lending Member or Affiliate shall be repayable out of the Company’s cash and shall bear interest at a rate not in excess of the prime rate established, from time to time, by any major bank selected by the Board of Managers for loans to its most creditworthy commercial borrowers, plus up to six percent (6%) per annum as agreed upon by the Board and the Member and approved in accordance with Section 6.6, and on such other terms and conditions no less favorable to the Company than if the lender had been an independent third party. None of the Members or their Affiliates shall be obligated to make any loan or advance to the Company. (c) On the Effective Date, the Company shall pay at the closing all costs and fees of any kind attributable to the Company and shall reimburse USPB, the members of the Xxxxxx Group, and each of their Affiliates for all reasonable fees and out-of-pocket expenses and costs incurred by them in connection with the transactions contemplated by the Farmland Purchase Agreement, this Agreement, the Credit Documents, and all other agreements and documents related thereto, including without limitation fees and costs of counsel and accountants of USPB, the members of the Xxxxxx Group, and each of their Affiliates, and all costs and expenses required to be paid in connection with the consummation of the transactions contemplated by the Credit Documents.

Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the Board of ManagersBoard, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved, permitted or contemplated by or pursuant to provided in a policy written agreement approved by the Board of ManagersBoard, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company. (b) Any Member or Affiliate may, if approved in accordance with Section 6.6(f) and to the extent permitted by consent of the Credit DocumentsBoard, lend or advance money to the Company (it being understood that no such loan or advance shall be deemed to take place in the ordinary course of business)Company. If any Member or Affiliate shall make any such permitted loan or loans to the Company or advance money on its behalf, the amount of any such loan or advance shall not be treated as a contribution to the capital of the Company but shall be a debt due from the Company. Unless otherwise agreed by the lending Member or Affiliate and the Company and approved in accordance with Section 6.6, the The amount of any such loan or advance by a lending Member or Affiliate shall be repayable out of the Company’s cash and shall bear interest at a rate not in excess of the prime rate established, from time to time, by any major bank selected by the Board of Managers for loans to its most creditworthy commercial borrowers, plus up to six eight percent (68%) per annum as agreed upon by the Board and the Member and approved in accordance with Section 6.6Member, and on such other terms and conditions no less favorable to the Company than if the lender had been an independent third party. None of the Members or their Affiliates shall be obligated to make any loan or advance to the Company. (c) On . Notwithstanding the Effective Dateforegoing or anything else contained herein to the contrary, the Company shall pay at the closing all costs and fees of any kind attributable to the Company and shall reimburse USPB, the members of the Xxxxxx Group, and each of their Affiliates for all reasonable fees and out-of-pocket expenses and costs incurred by them in connection with the transactions contemplated is expressly authorized by the Farmland Members to borrow money from Comstock xx xxx terms and conditions specified in the LPB Note Purchase AgreementAgreement and the LPB Note, this Agreement, or borrow money from a Member or Affiliate provided the Credit Documents, and all other agreements and documents related thereto, including without limitation fees and costs terms of counsel and accountants of USPB, the members of the Xxxxxx Group, and each of their Affiliates, and all costs and expenses required to be paid which are approved in connection with the consummation of the transactions contemplated advance by the Credit Documentsother Member.

Member Compensation; Expenses; Loans. (a) Except as otherwise provided in a written agreement approved by the Board of ManagersBoard, no Member shall receive any salary, fee, or draw for services rendered to or on behalf of the Company. Except as otherwise approved, permitted or contemplated approved by or pursuant to a policy approved by the Board of ManagersBoard, no Member shall be reimbursed for any expenses incurred by such Member on behalf of the Company. (b) Any Member or Affiliate may, if approved in accordance with Section 6.6(f) and to the extent permitted by consent of the Credit DocumentsBoard, lend or advance money to the Company (it being understood that no such loan or advance shall be deemed to take place in the ordinary course of business)Company. If any Member or Affiliate shall make any such permitted loan or loans to the Company or advance money on its behalf, the amount of any such loan or advance shall not be treated as a contribution to the capital of the Company but shall be a debt due from the Company. Unless otherwise agreed by the lending Member or Affiliate and the Company and approved in accordance with Section 6.6, the The amount of any such loan or advance by a lending Member or Affiliate shall be repayable out of the Company’s cash and shall bear interest at a rate not in excess of the prime rate established, from time to time, by any major bank selected by the Board of Managers for loans to its most creditworthy commercial borrowers, plus up to six four percent (64%) per annum as agreed upon by the Board and the Member and approved in accordance with Section 6.6Member, and on such other terms and conditions no less favorable to the Company than if the lender had been an independent third party. None of the Members or their Affiliates shall be obligated to make any loan or advance to the Company. (c) On Gevo or its Affiliates may, pursuant to the Effective Dateterms and conditions of the Joint Venture Agreement, lend or advance money to the Company Company. If Gevo shall pay at the closing all costs and fees of make any kind attributable loan or loans to the Company and shall reimburse USPBor advance money on its behalf, the members amount of any such loan or advance shall not be treated as a contribution to the capital of the Xxxxxx GroupCompany but shall be a debt 49 Redfield Energy, LLC Second Amended and each Restated Operating Agreement due from the Company. The amount of their any such loan or advance by Gevo or its Affiliates for all reasonable fees and out-of-pocket expenses and costs incurred by them shall be repayable out of the Company’s cash. Except as expressly provided in connection with the transactions contemplated by the Farmland Purchase Joint Venture Agreement, this Agreement, neither Gevo nor its Affiliates shall be obligated to make any loan or advance to the Credit Documents, and all other agreements and documents related thereto, including without limitation fees and costs of counsel and accountants of USPB, the members of the Xxxxxx Group, and each of their Affiliates, and all costs and expenses required to be paid in connection with the consummation of the transactions contemplated by the Credit DocumentsCompany.