Examples of Contribution Loan in a sentence
The collateral security agreement evidencing the collateralization of the Business Contribution Member Loan with the Company Stock and the Earn-Out shall be on such terms as are reasonably acceptable to the Company, which terms shall include, but shall not be limited to, the retention of all of the Company Stock by the Company until full repayment of the Business Contribution Loan.
Such Contribution Loan shall bear interest, compounded annually, at a rate equal to the Prime Rate plus four (4) percentage points per annum.
All repayments of the Contribution Loan will be applied first to attorneys' fees, then interest and finally to principal.
No approval of the Board or of any Directors shall be required for an Additional Contribution Loan.
All expenses and costs of collection, including without limitation attorneys' fees, incurred in connection with a Contribution Loan will be paid by the Defaulting Member and will also bear interest at the rate of the Contribution Loan.