Treatment of Loans. (a) The Borrower does not intend to treat the Loans and related transactions as being a “reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4). In the event the Borrower determines to take any action inconsistent with such intention, it will promptly notify the Administrative Agent thereof.
(b) The Borrower acknowledges that the Administrative Agent and one or more of the Lenders may treat its Loans as part of a transaction that is subject to Treasury Regulation Section 1.6011-4 or Section 301.6112-1, and the Administrative Agent and such Lender or Lenders, as applicable, may file such IRS forms or maintain such lists and other records as they may determine is required by such Treasury Regulations.
Treatment of Loans. To the fullest extent permitted by law, all principal, interest, costs and expenses due and payable by the Company to the Members or Affiliates thereof in repayment of loans shall be treated in the same manner as liabilities payable to unaffiliated creditors of the Company and shall be paid and taken into account, as such, before any Distributions of Distributable Cash are made to the Members. Without limiting the foregoing, the Members acknowledge that any Member or Affiliate of a Member (“Lender”) who loans money to the Company shall have rights, the exercise of which will be in conflict with the Company’s best interests. In that regard, the Members hereby authorize, agree and consent to the Lender’s exercise of any of Lender’s rights under any promissory note, deed of trust, security agreement or other loan document, even though the Lender’s exercise of those rights may be detrimental to the Company or the Company’s business. Further, the Members agree that any Lender’s proper exercise of the rights shall not be deemed a breach of that Lender’s fiduciary duties (if any) to the Company.
Treatment of Loans. (3.08(E)(3)(c)). Loans may be distributed as part of an In-Plan Xxxx Rollover Contribution, subject to the operational capabilities of the Vendor.
Treatment of Loans. All "Loans" (as defined in the Existing Credit Agreement) which are outstanding under the Existing Credit Agreement immediately prior to the Closing Date shall be deemed to be Loans made hereunder at the Closing Date the type and Interest Period of which shall be determined by the mutual agreement of the Borrower and the Banks and the Borrower agrees to provide to the Agent for the account of each Bank compensation in accordance with Section 3.05.
Treatment of Loans. Outstanding plan loans shall be excluded from In-Plan Xxxx Conversions. Notwithstanding anything herein to the contrary, an In-Plan Xxxx Conversion shall not accelerate or otherwise cause a Participant to default on an outstanding plan loan.
Treatment of Loans. (a) The Borrower does not intend to treat the Loans and related transactions as being a “reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4). In the event the Borrower determines to take any action inconsistent with such intention, it will promptly notify the Administrative Agent thereof.
(b) The Borrower acknowledges that the Administrative Agent, the Swingline Lender and one or more of the Lenders may treat its Loans as part of a transaction that is subject to Treasury Regulation Section 1.6011-4 or Section 301.6112-1, and the Administrative Agent, the Swingline Lender and such Lender or Lenders, as applicable, may file such IRS forms or maintain such lists and other records as they may determine is required by such Treasury Regulations.
Treatment of Loans. 15 Section 2.14. Restatement ....................................... 16
Treatment of Loans. No loan by a Member, or an Affiliate thereof, will result in an increase in the Percentage Interest of the Member. The amount of any such loan shall not constitute a Capital Contribution and will not be credited to the lending Member’s Capital Account. Any loan will be an obligation of the LLC to the lending Member, or Affiliate thereof, with interest, and will be repaid to the lending Member, or Affiliate thereof, before any amount may be distributed to any Member pursuant to Section 8. Interest on such loans will be payable without regard to the profits or losses of the LLC and will be treated as a transaction with a Member, or Affiliate thereof, other than in its capacity as a Member of the LLC, or Affiliate thereof, pursuant to Section 707(a) of the Code. All such loans will be repayable solely from the LLC’s assets and represented by promissory notes executed by the LLC, which shall bear interest at the prime rate of interest published in The Wall Street Journal on the date immediately prior to the date the loan was made, applicable at the beginning of such term, subject to adjustment to the rate in effect on each anniversary thereof.
Treatment of Loans. No loan will result in an increase in the Percentage Interest of the lending Member, and the amount of any such loan will not be credited to the lending Member's Capital Account, except, in either case, in accordance with Section 8.2(b). Any loan will be an obligation of the Company to the lending Member, with interest, and will be repaid to the lending Member before any amount may be distributed to any Member with respect to its Percentage Interest. Interest on such loans will be payable without regard to the profits or losses of the Company and will be treated as a transaction with a Member other than in its capacity as a Member of the Company pursuant to Section 707(a) of the Code. All such loans will be repayable solely from the Company's assets and represented by promissory notes executed by the Company.
Treatment of Loans. Notwithstanding anything herein to the contrary:
(a) Any refinancing of the Secured Obligations constituting Refinancing Debt pursuant to a DIP Financing (the “Refinancing”), whether in whole or in part, shall not constitute a realization of proceeds; and
(b) The Refinancing shall not change any of the requirements of Section 4.01(b) or Section 4.01(c) in respect of the pro rata sharing payments required by such sections.”
