Members’ Loans Sample Clauses

Members’ Loans. All amounts loaned by Members to the Company pursuant to Section 3.6. hereof.
Sample 1Sample 2
AutoNDA by SimpleDocs
Members’ Loans. Members may make a "Member's Loan" to the --------------- LLC for any purpose determined to be necessary or desirable by the holders of a majority of the
Sample 1
Members’ Loans. Members may make a “Member’s Loan” to the LLC for any purpose determined to be necessary or desirable by the holders of a majority of the Ownership Interests. The Members shall give ten (10) days written notice of such recommendation which shall be approved or rejected as provided in Section 6.14.
Sample 1
Members’ Loans. In addition to the Capital Contributions provided for in this Agreement, at any time and from time to time after the date hereof, any Member may (but shall not be obligated to) make Members’ Loans to the Company, if in the opinion of the Manager such Loans are needed by the Company in furtherance of a Company purpose. Such Loans shall be on terms and conditions acceptable to the Manager. The amount of such Members’ Loans shall be a debt due from the Company to that Member and shall be on such terms as determined by the Manager and the lending Member and may be repaid prior to other distributions to Members. No Member shall have personal liability for repayment of any Member’s Loan and repayment on default of a Member’s Loan shall be limited to assets of the Company.
Sample 1
Members’ Loans. Members may make a "Member's Loan" to the LLC for any purpose determined to be necessary or desirable by the Manager and approved by holders of a majority of the Ownership Interests. The Manager shall give ten (10) days written notice of such recommendation which shall be approved or rejected as provided in Section 6.14. Member's Loans shall be repaid prior to any distribution to Members under Article 4. Member's Loans to the LLC shall bear interest at an annual rate of two percent (2%) over the Prime Rate at the time such loan is made, or the then legal maximum rate, whichever is lower, unless otherwise approved by Members holding a majority of the Ownership Interest. The interest rate shall be adjusted (increased or decreased) every six months during the period of the loan. If a Member's Loan is to be made, all Members shall have an opportunity, but not an obligation, to participate in the loan on the basis of their Ownership Interests.
Sample 1
Members’ Loans. At any time and from time to time after the Effective Date, any Member may (but shall not be obligated to) make Members’ Loans to the Company, if in the opinion of the Manager such Loans are needed by the Company in furtherance of a Company purpose. Such Loans shall be on terms and conditions acceptable to the Manager. The amount of such Members’ Loans shall be a debt due from the Company to the Member making the Members’ Loans and shall be on such terms as determined by the Manager and such Member and may be repaid prior to other distributions to Members. No Member shall have personal liability for repayment of any Member’s Loan and repayment on default of a Member’s Loan shall be limited to Company Assets. Notwithstanding the foregoing, nothing in Article 8 shall limit in any way the Manager’s authority to seek additional funds for the Company as the Manager deems necessary to undertake the Company’s business, in the form of loans, secured or unsecured, from unrelated third parties, upon terms and conditions prevailing at the time of such solicitation and deemed acceptable to the Manager in its sole discretion.
Sample 1
Members’ Loans. Make any payment of principal, interest or otherwise in respect of any Member Loan or provide any collateral or security for the repayment of any such Loan.
Sample 1
AutoNDA by SimpleDocs
Members’ Loans. If permitted pursuant to Section 4.4, a Member may loan money to the Company. Interest shall be payable at competitive rates for loans of similar character and amount, but shall not exceed any applicable maximum usury rate. All such Loans shall be repaid from amounts otherwise constituting Distributions hereunder as a priority payment, unless otherwise specifically provided herein, and shall constitute a deduction from Distribution amounts. No such Loan shall constitute a Capital Contribution or increase the Percentage Interest of the lending Member, unless specifically agreed by the Managers.
Sample 1
Members’ Loans. At any time and from time to time after the Effective Date, any Member may (but shall not be obligated to) make Members’ Loans to the Company, if in the opinion of the Manager such Loans are needed by the Company in furtherance of a Company purpose. Such Loans shall be on terms and conditions acceptable to the Manager. The amount of such Members’ Loans shall be a debt due from the Company to the Member making the Members’ Loans and shall be on such terms as determined by the Manager and such Member and may be repaid prior to other distributions to Members. It is specifically agreed that an interest rate of twenty percent (20%) per annum is a reasonable interest rate for such a loan by any Member, including the Manager, or its Affiliates. No Member shall have personal liability for repayment of any Member’s Loan and repayment on default of a Member’s Loan shall be limited to Company Assets. Notwithstanding the foregoing, nothing in Article 8 shall limit in any way the Manager’s authority to seek additional funds for the Company as the Manager deems necessary to undertake the Company’s business, in the form of loans, secured or unsecured, from unrelated third parties, upon terms and conditions prevailing at the time of such solicitation and deemed acceptable to the Manager in its sole discretion.
Sample 1

Related to Members’ Loans

  • Member Loans The Member may make loans (“Member Loans”) to the Company, which shall bear interest and be repaid on such reasonable terms and conditions as may be approved by the Member.

  • Business Loans The Borrower warrants and represents that the Loans evidenced by the Notes are and shall be for business, commercial, investment, or other similar purposes and not primarily for personal, family, household, or agricultural use, as such terms are used in Chapter One (“Chapter One”) of the Texas Credit Code. At all such times, if any, as Chapter One shall establish a Maximum Rate, the Maximum Rate shall be the “indicated rate ceiling” (as such term is defined in Chapter One) from time to time in effect.

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

  • 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.

  • Insider Loans No Company-Related Person has any loan, credit or other Contract outstanding with Company or any Company Subsidiary that does not conform to applicable rules and regulations of the FDIC, the Federal Reserve Board, or any other Governmental Entity with jurisdiction over Company or any Company Subsidiary.

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • Tranche B Loans Subject to the terms and conditions of this Agreement (including, without limitation, Section 2.13(a) and Article 6), each Tranche B Lender severally agrees to make one or more loans to the Borrower from time to time from and including the New Advance Date to but excluding the Tranche B Commitment Termination Date up to but not exceeding the amount of such Tranche B Lender's Tranche B Commitment as then in effect; provided, however, that the aggregate outstanding principal amount of the Tranche B Loans and the aggregate outstanding principal amount of the Tranche C Loans used to pay Permitted Third-Party Expenses shall not at any time exceed the Permitted Third-Party Expenses Borrowing Base. Notwithstanding anything to the contrary contained in this Agreement, the Borrower, the Administrative Agent and the Lenders agree that, as of the Closing Date, the aggregate outstanding principal amount of the Original Tranche B Loans is $1,040,430.75, which amount shall be deemed outstanding as Tranche B Loans hereunder. (Such loans referred to in this Section 2.1(b) now or hereafter made or deemed made by the Tranche B Lenders to the Borrower, including, without limitation, such loans which remain outstanding after the Tranche B Commitment Termination Date, are hereinafter collectively called the "Tranche B Loans".) The Borrower may not reborrow the Tranche B Loans which have been repaid. The parties hereto hereby agree that, as of the Closing Date, the aggregate outstanding principal amount of the Tranche B Loans is $1,040,430.75.

  • Adjustment of Revolving Loans To the extent the Commitments being increased on the relevant Increase Effective Date are Revolving Commitments, then each of the Revolving Lenders having a Revolving Commitment prior to such Increase Effective Date (the “Pre-Increase Revolving Lenders”) shall assign to any Revolving Lender which is acquiring a new or additional Revolving Commitment on the Increase Effective Date (the “Post-Increase Revolving Lenders”), and such Post-Increase Revolving Lenders shall purchase from each Pre-Increase Revolving Lender, at the principal amount thereof, such interests in the Revolving Loans and participation interests in LC Exposure and Swingline Loans outstanding on such Increase Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans and participation interests in LC Exposure and Swingline Loans will be held by Pre-Increase Revolving Lenders and Post-Increase Revolving Lenders ratably in accordance with their Revolving Commitments after giving effect to such increased Revolving Commitments.

  • Term SOFR Loans Except as otherwise provided herein, a Term SOFR Loan may be continued or converted only on the last day of an Interest Period for such Term SOFR Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Term SOFR Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the outstanding Term SOFR Loans be converted immediately to Base Rate Loans.

  • Bridge Loans For purposes of determining the maturity date of any Indebtedness, customary bridge loans that are subject to customary conditions (including no payment or bankruptcy event of default) that would automatically either be extended as, converted into or required to be exchanged for, permanent refinancing shall be deemed to have the maturity date as so extended, converted or exchanged.

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