Common use of Third Party Loans Clause in Contracts

Third Party Loans. In the event of a failed capital call, or the unavailability of a Manager Advance or Member Loan, the Manager may obtain a loan and/or credit from one or more third parties as it deems appropriate to further the business objectives of the Company. Such loan shall be made to the Company on such terms as the Manager deems reasonable and appropriate after taking into account the urgency and needs for the funds. Third party loans will be a critical part of our real estate development as an emerging growth company. Based on a successful capital raise, if any, our Company will participate in borrowing money for our real estate development projects including leveraging our equity. For example, if the company raises $20,000,000 to $50,000,000 (the maximum) in a successful company raise, that money will be used to leverage debt financing for Xxxxxxx Tower, a $200,000,000 project. Even if the Company raises $100,000, that amount will be used to leverage a $1,000,000 construction loan to build small 4 to 10 unit apartment complexes, up to 10 single family homes and/or the launch of our nationwide chain of $1.00 Stores such as Can You Spare a Dollar? So, third party loans will be crucial to our real estate projects, developments and startup businesses as an emerging growth proptech and fintech company.