Optional Loans. In the event the Lenders become aware of (i) any actual “Default” or “Event of Default” (as defined in the OpCo Credit Agreement) under Section 11.1(a) of the OpCo Credit Agreement or any substantially similar provision in any refinancing, modification, renewal or amendment of the OpCo Credit Agreement, (ii) any actual “Default” or “Event of Default” (as defined in the Indenture) under Section 7.01(1) or (2) of the first supplement of the Indenture or any substantially similar provision in any refinancing, modification, renewal or amendment of the Indenture or the Senior Notes, as applicable) or (iii) any actual or prospective “Default” or “Event of Default” referenced in a notice delivered by the Borrower to the Agent pursuant to Section 6.1(j) and the OpCo Obligors are not actively seeking a waiver of such “Default” or “Event of Default” referenced in such notice, the Agent acting at the direction of the Required Lenders may (but shall not be obligated to) pay to the agent under the OpCo Credit Agreement an amount sufficient to cure such “Default” or “Event of Default” under the OpCo Credit Agreement or the Senior Notes on behalf of such OpCo Obligors so long as such “Default” or “Event of Default” is capable of being cured by making such a payment. All sums advanced by the Agent under this Section 2.1(c) (such sums, “Optional Loans”) shall constitute Base Rate Loans under this Credit Agreement and interest shall accrue on such Base Rate Loans pursuant to Section 3.1(a) hereof. Such Optional Loans shall be paid by the Borrower to the Agent pursuant to Article II, shall be secured by the Collateral pursuant to the Credit Documents and shall constitute Obligations hereunder, in each case notwithstanding that such Optional Loans may, together with amounts previously advanced under this Credit Agreement, exceed the total amount of the Commitments. The provisions of this Section 2.1(c) are for the exclusive benefit of the Agent and the Lenders and are not intended to benefit the Borrower (or any other Credit Party or Restricted Subsidiary) in any way.
Optional Loans. Any Partner may, but is not obligated to, from time to time, make voluntary loans to the Limited Partnership. Such loans shall bear interest at the prime rate in effect from time to time plus 1% per annum and shall be repayable from Cash Flow or Sale or Refinancing Proceeds when available.
Optional Loans. To the extent required by Partnership business, any Partner may, but shall not be obligated or required to, advance or lend moneys to the Partnership ("Optional Loans"), and the amount of any such advance or loan shall not, unless otherwise agreed to by the Partners, be deemed an increase in or contribution to the capital account of such Partner or entitle such Partner to any increased share in distributions or allocations of the Partnership; rather the amount of any such advance or loan shall be deemed to be an Optional Loan to and an obligation of the Partnership to such Partner and shall bear interest at a rate per annum equal to one per cent (1%) over the prime rate from time to time quoted by The Chase Manhattan Bank, N.A. in New York, New York, or at such other rate as may be agreed to by the Partners. Notwithstanding any provision of Section VII hereof to the contrary, but subject to Section 8.02 hereof, all interest on Optional Loans to the Partnership by any Partner shall be payable quarterly out of the Net Cash Flow of the Partnership and the net proceeds from any Interim Capital Transaction and principal shall be paid in accordance with the terms of such Optional Loan; provided, however, that all such advances or loans, together with accrued and unpaid interest thereon, shall become immediately due and payable upon termination and dissolution of the Partnership. Each Partner shall have an account ("Optional Loan Account") which shall be increased by Optional Loans made by such Partner, plus interest on such Optional Loans, and decreased by payments on Optional Loans made as provided in Section VII hereof. Distributions specified in Section VII hereof which decrease the Optional Loan Account of any Partner shall be treated first as in payment of accumulated interest on such Optional Loans and next as in payment of principal of such Optional Loans. Subject to Section 8.02 and this Section 8.01, Optional Loan repayment terms shall be specified by the lending Partners at the time the Optional Loan is made.
Optional Loans. A loan to the LLC by a Member, or any Affiliate thereof, constitutes a Major Decision pursuant to Section 1.12(n).
Optional Loans. Any General Partner shall have the right to make a loan of cash to the Partnership at any time on such terms as such General Partner may determine; provided, however, that in no event shall any such optional loan be secured by Partnership assets, bear interest or original issue discount, be with recourse to any Partner or replace any Partner's obligations to make capital contributions pursuant to this Section 3.
Optional Loans. Whenever the Company requires, in the judgment of the Management Committee, additional funds not otherwise available from third parties on terms deemed to be acceptable to the Management Committee, Members may, but shall not be obligated to, make such loans on such terms and conditions as the Management Committee and such Member deem reasonable.
Optional Loans. With the approval of the Administrative Member, a Member may, but will not be required to, advance additional monies to the Company (which the Company may in turn loan to one or more of the Project Entities) as a loan upon such terms as the lending Member and the Administrative Member may agree. The interest rate on any loan by a Member to the Company shall be determined by the Administrative Member and the lending Member. Notwithstanding the foregoing, however, no Member may make an optional loan to the Company pursuant to this Section 8.3 without prior written notice from the Company to all Members and an opportunity to all Members to loan the Company the necessary funds in their respective Percentage Interests as optional loans.
Optional Loans. 9 Section 2.8 Ownership of Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Optional Loans. The Partnership is empowered to borrow such sums as it considers necessary or appropriate, and in connection therewith, to pledge the property of the Partnership as security therefor. Loans may be made to the Partnership by the General Partner, the Limited Partners, commercial lending institutions and other available sources. Such loans shall be obtained by the General Partner on such terms and conditions as the General Partner considers commercially reasonable and appropriate; provided, however, that the General Partner shall not have the authority to borrow sums on behalf of the Partnership in any manner or on any basis that makes the Limited Partners liable for the repayment of such indebtedness without the prior written agreement and consent of the Limited Partners. The amount of any loan made to the Partnership by a Partner shall not be considered as an increase in the amount of the Capital Contributions of such Partner to the Partnership capital or otherwise a contribution to the Partnership, nor shall the making of such loan entitle such Partner to an increased share of the profits of the Partnership or any other distributions made pursuant to the provisions of this Agreement.
Optional Loans. At the request of the General Partner, the Partners may, but shall not be obligated to, make loans or advances to the Partnership, none of which loans shall be credited to the Capital Account of the lending Partner, or entitle the lending Partner to any increase in his share of the profits or distributions of the Partnership, or subject such lending Partner to any greater proportion of the losses which the Partnership may sustain.
