Payment of Member Loans. Member Loans shall be repaid in accordance with the terms as agreed to by Member Consent.
Appears in 12 contracts
Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (CNL Growth Properties, Inc.), Limited Liability Company Agreement (CNL Growth Properties, Inc.)
Payment of Member Loans. Member Loans shall be repaid in accordance with the terms as agreed to by Member Consent. Unless the terms of the Member Loans provide otherwise, if more than one of the Members have outstanding Member Loans, amounts paid in respect of Member Loans shall be paid pro rata to the Members in accordance with the total principal and interest amounts of Member Loans then outstanding. All amounts received on Member Loans made by a particular Member shall be applied to repay those Member Loans in the chronological order in which they were made.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.)
