Temporary Advances. A Member or its Affiliates, with Board Approval, may make loans (“Temporary Advances”) to temporarily fund obligations for Valid Company Purposes until Capital Contributions are made by the Members as set forth in Section 4.1. Such Temporary Advances plus interest at the Temporary Advance Rate shall be returned from any Capital Contributions by the Members under Section 4.1, with any unreturned Temporary Advances plus interest at the Temporary Advance Rate paid in accordance with Section 6.1.
Temporary Advances. A Member, in its discretion, may make loans (“Temporary Advances”) to temporarily fund draws by Portfolio Companies under Revolving Credit Investments or to temporarily fund other Investments or Expenses of the Company until Capital Contributions are made by the Members as set forth in Section 3.1. Such Temporary Advances plus interest at the Temporary Advance Rate shall be returned from any Capital Contributions by the Members under Section 3.1, with any unreturned Temporary Advances plus interest at the Temporary Advance Rate paid as set forth in Section 5.1.
Temporary Advances. Following a notice from the Administrative Agent pursuant to Section 3.01 above relating to a Capital Contribution, a Member (the “Advancing Member”), in its discretion and in addition to its own Capital Contribution relating to that notice, may make loans (“Temporary Advances”) to temporarily fund the Company or people or entities in which the Company has already invested until Capital Contributions (“Delayed Contributions”) are made by the Members (each, a “Delayed Member”) who have not yet made Capital Contributions relating to the notice as set forth in Section 3.01. Any Temporary Advances shall be repaid from the Delayed Members’ Capital Contributions under Section 3.01 (including from any Delayed Contributions), with any unreturned Temporary Advances and any Temporary Advance Fees paid as set forth in Section 5.01.
Temporary Advances. (a) Subject to Board Approval, one or more Members or their subsidiaries, in its discretion, may make loans (each, a “Temporary Advance”) to temporarily fund obligations for Valid Company Purposes until Capital Contributions are made by the Members as set forth in Section 3.1. Such Temporary Advances plus interest at the Temporary Advance Rate shall be returned from any Capital Contributions made by the Member(s) not making Temporary Advances under Section 3.1 or, as and when available, from Investment Proceeds, with any unreturned Temporary Advances plus interest at the Temporary Advance Rate paid as set forth in Section 5.1; provided, that, a Member’s repayment of interest in respect of a Temporary Advance shall not reduce the amount of such Member(s) remaining Capital Commitment. For example, if the Company has called Capital Contributions of $200 from the Members (i.e., $100 per Member), and one Member contributes $200 because the other Member is unwilling or unable to contribute its $100 before the date required by Section 3.1, then the $100 advanced on behalf of the other Member shall constitute a Temporary Advance.
(b) If the Board fails to timely approve a call for Capital Contributions in cash in accordance with Section 3.1 that is (i) requested by any Member and (ii) intended to avoid or cure any borrowing base deficiency, default, event of default, potential termination event or termination event relating to any Facility or any derivative instrument or other indebtedness incurred by the Company or a Subsidiary, each of the other Members may, in its sole discretion, fund in cash only the amount necessary to avoid or cure such borrowing base deficiency, default, event of default, potential termination event or termination event as required under the terms of any such Facility, derivative instrument or other indebtedness of the Company or any Subsidiary without Board Approval, and the amount of any such funding shall be shall be deemed a Temporary Advance and returned to the advancing Member (together with interest accruing on such amount at the Temporary Advance Rate) from any Capital Contributions under Section 3.1 or, as and when available, from Investment Proceeds, with any unreturned Temporary Advances plus interest at the Temporary Advance Rate paid as set forth in Section 5.1; provided that all interest due and payable in respect of any Temporary Advance shall be the sole responsibility of the Member(s) not making Temporary Advances, shall b...
Temporary Advances. (a) A Member may (i) in its discretion and upon prior notice to the other Member, (A) if the Company does not have sufficient liquidity to pay its obligations as they come due, make loans to temporarily fund the Company until Capital Contributions are made by the Members as set forth in Section 3.1 or (B) make loans to temporarily fund the Company in order to make Investments until Capital Contributions are made by the Members as set forth in Section 3.1 or (ii) with Board Approval, contribute property with a fair market value in excess of such Member’s required Capital Contribution on such date (such loan or the amount of such excess, a “Temporary Advance”).
(b) At the time of any Capital Contribution pursuant to Section 3.1, without any further approval by the Board or any Member, an amount equal to any outstanding unreturned Temporary Advance, plus interest at the Temporary Advance Rate, shall be repaid to the Member who made such Temporary Advance from the other Member’s Capital Contribution. At the time of any distribution pursuant to Section 5.1(d), any outstanding unreturned Temporary Advances, plus interest at the Temporary Advance Rate, shall be paid as set forth in Section 5.1(d)(i).
(c) Any Temporary Advance made pursuant to this Section 3.2 shall be repaid on the later of (i) 30 days from the date on which the Temporary Advance was made, or (ii) 10 business days after a capital call is made with respect to any such Temporary Advance.
Temporary Advances. 13 Section 4.03 Defaulting Members ..................................................................................13 Section 4.04 Interest or Withdrawals ..............................................................................14 Section 4.05 Admission of Additional Members ............................................................14 Section 4.06 Alternative Investment Vehicle .................................................................14
Temporary Advances. In the event the Company requires capital sooner than a Contribution Due Date, MRCC may make an advance of the required amount (a “Temporary Advance”). Any Temporary Advance shall accrue interest at the average LIBOR Rate during such period (expressed as an annual rate) plus four percent (4.0%) per annum from the date upon which an amount is advanced until the date it is repaid to MRCC. Repayment of a Temporary Advance shall be made from capital contributions or other Company assets, as soon as either of such sources of repayment reasonably becomes available.
Temporary Advances. The BDC, in its discretion, may make loans (“Temporary Advances”) to temporarily fund obligations of the Fund in respect of Underlying Loans (which have been made or acquired with the approval of the Board of Managers) or Fund Expenses until Capital Contributions are made by the Members as set forth in Section 3.1. Each Temporary Advance plus interest at the Temporary Advance Rate shall constitute an obligation of the Fund to the BDC and shall be returned by the Fund to the BDC.
Temporary Advances. (First Shift)
Temporary Advances. (a) A Member may (i) with the written consent of the other Member, make loans to temporarily fund the Company in order to temporarily fund the Company or to make Investments until Capital Contributions are made by the Members as set forth in Section 3.1 or (ii) with Prior Board Approval, contribute property with a fair market value in excess of such Member’s required Capital Contribution on such date (such loan or the amount of such excess, a “Temporary Advance”).
(b) At the time of any Capital Contribution pursuant to Section 3.1, without any further approval by the Board or any Member, an amount equal to any outstanding unreturned Temporary Advance, plus interest at the Temporary Advance Rate, shall be repaid to the Member who made such Temporary Advance from the other Member’s Capital Contribution. At the time of any distribution pursuant to Section 5.1(d), any outstanding unreturned Temporary Advances, plus interest at the Temporary Advance Rate, shall be paid as set forth in Section 5.1(d)(i).
