Right to Lend Sample Clauses

Right to Lend. Notwithstanding anything in this Agreement to the contrary, if the Managing Member determines that the Company or any Subsidiary requires additional funds for any purpose and such funds are needed prior to the date on which an additional Capital Contribution is to be made, the Managing Member may lend such funds to the Company or such Subsidiary, which loan shall bear interest at 8% per annum provided that the Managing Member promptly delivers a Capital Call Notice following the making of such loan.
Sample 1
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Right to Lend. (A) Any Director appointed by RML may notify the Purchaser and the Company in writing that in his reasonable belief the Company or any of its Affiliates is likely to be unable to pay its debts as they fall due within the next six weeks, or that the Directors or the directors of any Affiliate of the Company may within the next six weeks commit an offence under the Insolvency Act 1986 in continuing to allow the Company or the Affixxxxx (xs the case may be) to conduct business. (B) If the Purchaser disagrees, RML may (at its own cost) instruct the Company's auditors to prepare a report addressed to the Board of Directors to the effect that they have enquired into the Company's or Affiliate's state of affairs (as the case may be) and they are of the view that the opinion expressed by the Director is reasonable in all the circumstances. If the auditors do issue such a report, paragraph (C) shall apply. (C) If the Purchaser agrees, or the auditors provide a report referred to in paragraph (B), RML and the Purchaser agree that RML has the right (but not the obligation) to lend money to the Company or the Affiliate (as the case may be) subject to compliance with the provisions of paragraph (D). (D) If RML wishes to so exercise its right it shall promptly notify the Purchaser in writing. Such notice shall set out the terms of the proposed loan (which shall be such reasonable and customary terms as RML determines, save that it may set the interest rate at an amount as high as LIBOR plus 7.5 per cent). The Purchaser may, within seven days of receipt of such notice, elect to contribute an equal share of the debt funding proposed to be provided by RML on the same terms and conditions, in which case RML shall not proceed to lend money other than on such basis. If the Purchaser makes no such election within this period, RML may proceed to enter into a loan with the Company or any of its Affiliates on the terms referred to above.
Sample 1
Right to Lend. Within 60 days after the Initial Loan Advance Date, First Union shall have the option, to be exercised by written notice from First Union to the MARC Principals within such 60 day period, to make Property Loans on all of the Group B Properties equal to the amount set forth on Schedule 1B hereto under the heading "First Union Loan" (as adjusted pursuant to Section 3.6) multiplied by the percentage interest in the Property Owner owned by the MARC Principals and their Affiliates, on the same terms and conditions as set forth in Section 3.1 hereof assuming all references to a Group A Property, shall be deemed references to a Group B Property. If First Union elects to make the Property Loans with respect to the Group B Properties, the Closing shall occur within fifteen (15) days after the exercise of First Union's option (the "Group B Properties Loan Advance Date") and all references in Section 3.1 to the Initial Loan Advance Date shall be deemed to refer to the Group B Properties Loan Advance Date. If First Union shall not elect in writing to make the Property Loans with respect to the Group B Properties as provided in the previous sentence, the Group B Properties shall automatically be deemed Group C Properties from and after the expiration of such 60-day period.
Sample 1

Related to Right to Lend

  • Agreement to Lend Lender hereby agrees to lend up to but not in excess of the Loan Amount to Borrower, and Borrower hereby agrees to borrow such sum from Lender, all upon and subject to the terms and provisions of this Agreement, such sum to be evidenced by the Note. No principal amount repaid by Borrower may be reborrowed by Borrower. Borrower’s liability for repayment of the interest on account of the Loan shall be limited to and calculated with respect to Loan proceeds actually disbursed to Borrower pursuant to the terms of this Agreement and the Note and only from the date or dates of such disbursements. After notice to Borrower, Lender may, in Lender’s sole discretion, disburse Loan proceeds by journal entry to pay interest and financing costs and, following an uncured Event of Default, disburse Loan proceeds directly to third parties to pay costs or expenses required to be paid by Borrower pursuant to this Agreement. Loan proceeds disbursed by Lender by journal entry to pay interest or financing costs, and Loan proceeds disbursed directly by Lender to pay costs or expenses required to be paid by Borrower pursuant to this Agreement, shall constitute Advances to Borrower.

  • Right to Grieve Where an employee feels that she has been aggrieved by a decision of the Employer related to promotion, demotion or transfer, the employee may grieve the decision at Step 3 of the grievance procedure in Article 9 of this Agreement within seven (7) days of being notified of the results.

  • Right to Offset If We make a claim payment to You or on Your behalf in error or You owe Us any money, You must repay the amount You owe Us. Except as otherwise required by law, if We owe You a payment for other claims received, We have the right to subtract any amount You owe Us from any payment We owe You.

  • Right to Lease Landlord reserves the absolute right to effect such other tenancies in the Project as Landlord in the exercise of its sole business judgment shall determine to best promote the interests of the Building or Project. Tenant does not rely on the fact, nor does Landlord represent, that any specific tenant or type or number of tenants shall, during the Lease Term, occupy any space in the Building or Project.

  • Right to Prepay The Borrower shall have no right to prepay any principal amount of any Advance except as provided in this Section 2.07.

  • Right to Cancel 23.1 You have a right to cancel this Agreement within a period of seven days commencing on the date on which this Agreement is concluded or the date on which you receive this Agreement (whichever is later) (the “Cancellation Period”). 23.2 Should you wish to cancel this Agreement within the Cancellation Period, you should send a notice electronically to the following email address: xxxxxxx@xxxxxxx.xxx. Cancelling this Agreement within the Cancellation Period will not cancel any Transaction entered into by you during the Cancellation Period. If you fail to cancel this Agreement within the Cancellation Period you will be bound by its terms but you may terminate this Agreement in accordance with clause 26 (Termination without Default).

  • Right to Opt Out If you do not wish to agree to arbitrate all Disputes in accordance with the terms and conditions of this section, you must advise us in writing at the following address by either hand delivery or a letter postmarked within thirty (30) days following the date you enter into this Agreement. You may opt-out without affecting your application or cardholder status.

  • Right to Legal Fees If we have a legal dispute with you, the losing party will pay the costs of the winning party, including reasonable legal fees.

  • Right to Monitor and Participate An Indemnitee that does not conduct and control the defense of any Third-Party Claim, or an Indemnifying Party that has failed to elect to defend any Third-Party Claim as contemplated hereby, nevertheless shall have the right to employ separate counsel (including local counsel as necessary) of its own choosing to monitor and participate in (but not control) the defense of any Third-Party Claim for which it is a potential Indemnitee or Indemnifying Party, but the fees and expenses of such counsel shall be at the expense of such Indemnitee or Indemnifying Party, as the case may be, and the provisions of Section 4.5(c) shall not apply to such fees and expenses. Notwithstanding the foregoing, but subject to Sections 6.7 and 6.8, such Party shall cooperate with the Party entitled to conduct and control the defense of such Third-Party Claim in such defense and make available to the controlling Party, at the non-controlling Party’s expense, all witnesses, information and materials in such Party’s possession or under such Party’s control relating thereto as are reasonably required by the controlling Party. In addition to the foregoing, if any Indemnitee shall in good faith determine that such Indemnitee and the Indemnifying Party have actual or potential differing defenses or conflicts of interest between them that make joint representation inappropriate, then the Indemnitee shall have the right to employ separate counsel (including local counsel as necessary) and to participate in (but not control) the defense, compromise, or settlement thereof, and the Indemnifying Party shall bear the reasonable fees and expenses of such counsel for all Indemnitees.

  • Right to Views Nothing contained in this Agreement shall be construed to limit, impair or affect the right of any employee or representative of an employee to the expression or communication of a view, complaint or opinion on any matter so long as such action does not interfere with the performance of the duties of employment as prescribed in this Agreement or circumvent the rights of the exclusive representative.

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